Selling your Tesla is easy right? …Not as easy as it seems. Here’s a complete guide on what you need to do to sell your Tesla. The video above goes into more detail and shows screenshots of Ji’s experience selling his Model S.
How much is your Tesla worth?
Check these different sites to see what the average selling price is for your same year and trim:
Trade In vs Private Sell
This is your next choice to make based on what you found. In general, you will get more money by selling to a private party rather than a dealership or business. Why? They have to make money too when they flip it. However, if you’re on a time crunch or don’t want to deal with a more complicated process, it’s really easy to sell to a dealership. It did take me about a month to sell the Model S through a private party, so not bad!
Instant Offer & Trade In Programs
- Find My Electric: With a network of EV-specific dealers, Find My Electric has arguably the best Instant Offer program out there for your Tesla. There are no algos or auto-generated system quotes like the big box brands. Your Tesla will get manually reviewed by real people at top EV dealerships that apply a fair market value to your Tesla, accounting for its specific features and condition. Request an Instant Offer for your Tesla here.
- CarMax: Keep in mind that there is no haggling here. Once they set a price, it’s final.
- Vroom & Tesla Trade In: Similar sites like CarMax.
Private Party Listing
- Find My Electric: Unfortunately Find My Electric wasn’t around when I listed my Model S, but they’ve proven that they’re one of the best places to list for private party. They have a large selection of Teslas, resources, and one of the most affordable ways to list private party. They do have a free listing option, but I would recommend the Featured Plan which includes 20 photos, a free vehicle history report, featured on their homepage, and expert help pricing your Tesla. Our friends at Find My Electric have offered our readers a coupon for 50% off with promo code TESBROS — Sell Your Tesla.Facebook
- Facebook Marketplace: I highly discourage Tesla owners from selling here. You will get trolled and have a lot of comments from people who are not interested in buying. However, maybe you would have better luck in your region as opposed to being in Chattanooga, TN. I was able to educate a couple people about Teslas and even let someone test drive my Model Y. So, that was kind of fun.
- OnlyUsedTesla: It’s mostly for private selling and a really good platform. It’s what I ended up selling my Model S on.
-
Preparing Your Car For Sale
- Upgrades? If you’re selling private, this will help tremendously, especially if you have an older Model like me. They won’t have to worry about upgrading anything, and the convenience in itself is enough. If you’re trading in, don’t worry about upgrades, because they most likely won’t care.
- Detailing your car: Clean it up! They will not only appreciate it, but it’ll be easier to sell if it looks like it’s been taken care of. Also, doing a quick one-step paint correction doesn’t hurt.
- Fixing any defects: I had big scuff marks on one of my back windows, because someone tried to break in. I fixed it for $250. If I didn’t fix it, it would be an easy opening for a buyer to ask to lower the price quite a bit. So, don’t leave any room for bargaining due to defects, and be upfront about all the fixes that occurred.
Private Selling Details
This is the one I decided on, so here are some tips from my experience when selling to a private party:
- Negotiation & Funds
- After you’ve decided on the price, talk about how to get the funds. I recommend these two ways:
- Escrow.com: This acts as a middle man between buyer and seller. They hold the funds and the object being sold for the appropriate amount of time to verify everything before trading. They also will ship.
- Cashier’s check: This is what I used. They buyer can request a cashier’s check from their bank, and once they give it to you, you can call that bank to verify the funds on the spot. Super easy.
- After you’ve decided on the price, talk about how to get the funds. I recommend these two ways:
- Verify their identity
- Be open with each other from the start. I gave him my ID and vice versa.
- Bill of Sale and odometer disclosure agreement – Super important to have these contracts ready. You can download these by entering your email above. Don’t worry, we don’t spam you or sell your email. 🙂
- Agree on location
- I suggest meeting in the daytime in public. I met at a supercharger so I could get them charged up.
- Let them inspect the car. Answer any questions.
- Transfer ownership on Tesla app. *You have to factory reset the car FIRST on the touchscreen settings.
- You will get an email asking to confirm removal.
- Final touches
- Remove your license plate. Don’t forget to remind them to bring one!
- Pay off your loan if you have any left. That way you can get your title and send it to your buyer (typically takes about 2 weeks) to complete the transfer of ownership.
Learning Outcomes
-
- If you have the time, go private. If you don’t have the time, trade in value isn’t bad either. It’s a bit more convenient.
- Always verify everything before agreeing to meet up. Always meet in public spaces and during the day time.
- Don’t post on Facebook.
If you aren’t familiar with TESBROS, we produce in-house custom DIY protection (PPF) and vinyl wrap kits for your Tesla. We also sell high-quality accessories to make sure your Tesla is just the way you like it. Check out our best sellers below or visit our site here.
Frequently Asked Questions
What are the responsibilities of the seller after the sale of a Tesla? Are there any specific procedures or notifications required by Tesla or the DMV?
After selling a Tesla, the seller must inform the DMV for title and registration transfer, a process that can vary by state. Additionally, notifying Tesla of ownership change is crucial for accurate record-keeping and ensuring the new owner receives proper communications and updates. It’s recommended to consult both the DMV and Tesla for specific procedures.
How do modifications or customizations to a Tesla affect its resale value and marketability?
Modifications to a Tesla can either enhance or detract from its resale value and marketability. High-quality upgrades that improve performance or aesthetics could increase appeal and value, while highly personalized or extreme modifications may reduce buyer interest. The effect of modifications depends on market preferences and the nature of the changes.
What are the safety and legal considerations to keep in mind when arranging test drives or inspections with potential buyers?
In arranging test drives or inspections for selling a Tesla, ensure proper insurance coverage and verify the buyer’s driving license. Accompanying the buyer on the test drive and having a clear agreement about responsibility for any damages are key safety and legal precautions. These steps help safeguard both the seller’s and buyer’s interests.
