Trade-In with EV direct sale

[J Alynn]

So for those with Rivian and Teslas-how does trade in work for direct “online” sales? Do you trade in as traditional?
Do you sell to Carmax or similar then direct purchase the EV?
This is certainly new to me and surely many others. As a resident of PA (and I’m sure many other states) there is a tax advantage to trade in so just trying to wrap my head around things if we believe the SM sales setup might be non-dealer.
Thanks for any insight you can offer!

 

[LastDayScout]

So for those with Rivian and Teslas-how does trade in work for direct “online” sales? Do you trade in as traditional?
Do you sell to Carmax or similar then direct purchase the EV?
This is certainly new to me and surely many others. As a resident of PA (and I’m sure many other states) there is a tax advantage to trade in so just trying to wrap my head around things if we believe the SM sales setup might be non-dealer.
Thanks for any insight you can offer!

I traded with one of my previous Teslas. Very easy

 

[IHC_Scout]

Same.
Traded a 2010 Prius IV for a model 3 performance.
The trade-in process was super smooth …
- A couple weeks before delivery I took pictures of the Prius and uploaded them to Tesla.
- Then when I picked up the Tesla on delivery day I turned over the Prius.
The trade in value was pretty good — I checked an other few places and they weren’t offering as much.

 

[LastDayScout]

Same.
Traded a 2010 Prius IV for a model 3 performance.
The trade-in process was super smooth …
- A couple weeks before delivery I took pictures of the Prius and uploaded them to Tesla.
- Then when I picked up the Tesla on delivery day I turned over the Prius.
The trade in value was pretty good — I checked an other few places and they weren’t offering as much.

Same exact scenario I experienced.

 

[R1TVT]

I traded a Silverado 2500HD for my R1T. I was shocked at how much Rivian was willing to give me for a high mileage mediocre LT truck, and was also looking to take advantage of a lower sales tax on the Rivian. Between my trade in, my tax credit, and a 7500 rebate, I ended up way ahead of the game. I double checked Edmunds TMV and looked at Carvana and other sites and Rivian did me right on my trade - completely hassle free and no tire-kicking. They also picked up my truck and drove it away at the same time they delivered my new truck to my house. Seamless.

 

[cyure]

Now that things are moving along do we have any idea if Scout is going to have a trade in program for our current vehicles. I very much want to do a factory pick up and it would be one last road trip in the Wrangler down to SC from Illinois. If I have to trade in on my own then I’m flying down or taking the Wrangler down and driving two back which doesn’t sound like fun at all.

 

[Scoutsie]

Huh! I was kind of worried about the trade-in part. Maybe I do want to hold onto my current car after all…

 

[Jamie@ScoutMotors]

We will have a solution for trade-ins. More as we get closer to going to market.

 

[cyure]

We will have a solution for trade-ins. More as we get closer to going to marke

 

[cyure]

We will have a solution for trade-ins. More as we get closer to going to market.

Thanks so much for responding Jamie. I know I am way ahead of the game here.

 

[eddiet1212]

I suspect SM (Jaime) will take trade-ins of Scout Ii's & Terra's in concours condition & give you original invoice price for the trade.

 

[Miranda77]

I would appreciate recommendations from the crowd. I have a 2018 vehicle and I am trying to decide whether to hang onto it until Scout arrival, or buy something new to trade then. The answer depends on whether the trade-in allowances will be "generous" or "we have you over a barrel". If it is the later, it may be better to hang onto the 2018 then take a loss twice. Thoughts?

 

[J Alynn]

I would appreciate recommendations from the crowd. I have a 2018 vehicle and I am trying to decide whether to hang onto it until Scout arrival, or buy something new to trade then. The answer depends on whether the trade-in allowances will be "generous" or "we have you over a barrel". If it is the later, it may be better to hang onto the 2018 then take a loss twice. Thoughts?

Depends on the vehicle and the condition you are in. Another car means more payments or you could be saving that money and get more upgrades in your new Scout

 

[Hedrock]

I would appreciate recommendations from the crowd. I have a 2018 vehicle and I am trying to decide whether to hang onto it until Scout arrival, or buy something new to trade then. The answer depends on whether the trade-in allowances will be "generous" or "we have you over a barrel". If it is the later, it may be better to hang onto the 2018 then take a loss twice. Thoughts?

No matter what you buy (except for maybe a 4Runner or Tacoma), depreciation will eat you alive if you buy a car to only have for two years.

The breakeven point used to be on average about 3-4 years. I believe the industry number now is 5-6 due to rates increasing and loan terms increasing.

Unless your 2018 is becoming very expensive to maintain, or unless you are willing to wait until Scouts have been out for several years (2030ish), buying another vehicle with the intent of trading it in is a losing financial proposition.

You could gamble on a vehicle holding its value the way many did as we entered COVID supply disruptions, but if you do, please let me borrow your crystal ball to check some lottery numbers.

This all is completely irrespective of trade in allowances being “generous” or “over a barrel” - the difference in trade there in the modern market is usually 1-2k for very lightly used (low mile, bought brand new within 1-2 years) vehicles.

Between taxes, interest, fees, and depreciation, 1-2k in trade allowance differences won’t touch 5-20k in depreciation (assuming you’re looking at something new or 1-2 years old, and depending on it being average sale price of 40+k or being in scout price range of 60-90k).

 

[Hedrock]

We will have a solution for trade-ins. More as we get closer to going to market.

20k conquest cash for Broncos please and thank you!

 

[Hedrock]

I would appreciate recommendations from the crowd. I have a 2018 vehicle and I am trying to decide whether to hang onto it until Scout arrival, or buy something new to trade then. The answer depends on whether the trade-in allowances will be "generous" or "we have you over a barrel". If it is the later, it may be better to hang onto the 2018 then take a loss twice. Thoughts?

I forgot to add - if you are certain you will trade out in 2-3 years, and are certain you will only drive a certain amount of miles each year, you might consider leasing.

Leasehackr.com has excellent explanations of leasing. I know enough to be dangerous but not enough to safely teach the ins and outs to someone (unlike purchase financing).

 

[chucchinchilla]

We will have a solution for trade-ins. More as we get closer to going to market.

Will you have a solution for leases out of the gate? Asking because it took Rivian 2 years. Even if I want to buy long term I would still lease to capture tax incentives....ahem assuming they still exist by then of course.

 

[Chavannigans]

I would appreciate recommendations from the crowd. I have a 2018 vehicle and I am trying to decide whether to hang onto it until Scout arrival, or buy something new to trade then. The answer depends on whether the trade-in allowances will be "generous" or "we have you over a barrel". If it is the later, it may be better to hang onto the 2018 then take a loss twice. Thoughts?

If you dont think the 2018 car will last until 2027, I would also consider a 2year lease on an EV like a Hyundai or Rivian.

If you do make a move, I would do it before the impact of tariffs reflects on vehicles.

 

[J Alynn]

20k conquest cash for Broncos please and thank you!

Having traded out of ours last year I’d be seriously pissed

 

[Miranda77]

Thanks for all the input! What is the current prediction on delivery dates for the Scout? (I reserved first day) That is the big variable as to whether leasing would be a good idea.