Tesla has a trade-in program that allows users to exchange eligible cars for a new or used Tesla vehicle. Although Tesla's cars are among the most sought-after models in the EV segment, the company keeps exploring new ways to attract more consumers. Apart from frequent price cuts to its vehicles across the lineup, Tesla's lucrative trade-in program makes upgrading to one of its cars easier on the pocket.
Affordability remains a barrier to EV adoption, but swapping one's car for a used or new Tesla is a less expensive path to the electric mobility experience. The automaker currently recognizes passenger cars, trucks, vans, and SUVs for possible trade-ins. Both electric and gasoline models are eligible. This means that current Tesla vehicle owners can also trade in the cars toward the purchase of a new one. Vehicles that don't qualify include motorcycles, recreational vehicles (RVs), and non-driveable cars.
How To Get A Trade-In Estimate From Tesla
To begin the trade-in process, users will first need to check if their vehicle is eligible. To do this, they will need to enter their vehicle's VIN on the Tesla trade-in website or in the Tesla app. The VIN can usually be found on the car's title, or in the lower-left corner of the dashboard, in front of the steering wheel. They will then need to enter additional details, including mileage, zipcode, and photos of the vehicle. Tesla provides a list of required photos, and also asks users to capture photos of any vehicle damage. The company will then review the information and provide an estimate. If satisfied, users can accept the offer. They will then need to upload a photo of a valid registration card and vehicle title.
Users will need to hand in their old car on the day their Tesla gets delivered. The vehicle title and lease (if applicable) will also need to be handed over. Additionally, users will need to inform their state of the trade-in. Trade-in offers for non-Tesla vehicles are based on current market conditions and industry-standard methods. The manufacturer defines the trade-in value for its cars through vehicle configuration, history, mileage, and age. An offer is valid for 30 days or 1,000 miles.
Tesla Trade-Ins For Leased & Financed Vehicles
Drivers actively leasing their cars can also apply for possible trade-ins, but they should note that certain lessors don't allow buyouts of current leases. Some of the lenders include Honda/Acura, Ford/Lincoln, Nissan/Infiniti, General Motors Financial/Chevrolet, and more. Users should confirm if their lease has any third-party buyout restrictions before initiating the trade-in process. Tesla also accepts trade-ins for vehicles that are being currently financed.
It should be noted Tesla doesn't consider vehicles registered outside the United States. For a car to be deemed eligible, it needs to be assigned a vehicle title as this enables the company to verify the claim of ownership. Vehicles with bonded titles aren't eligible. Additionally, drivers aren't permitted to trade in more than one car for the purchase of a new or used Tesla.
Tesla states that after-market modifications will negatively affect a car’s trade-in valuation and recommends that drivers maintain a vehicle's original state. Owners of Teslas equipped with Full Self-Driving (FSD) should know that their subscription isn't transferable once they swap vehicles. Trade-in vehicles should be left at a designated spot during the EV's delivery day. The individuals mentioned in the trade-in vehicle title must be present to sign the documents as Tesla reserves the right to delay the process if all parties aren't present.