Market value for 2012 FFE with 14.5K miles

[Evocus]

I took the plunge and decided to buy a Tesla Model S last week knowing I was going to lose money on my FFE. As I'm looking to sell, I'm seeing deals in these forums that lead me to believe that the KBB price has yet to catch up to the real value I can receive for trade-in or private sale. Here are my numbers:

$41,485.00 Focus Sale Price
$45,183.64 Cash Price with Tax, Doc and Registration
$(7,500.00) Federal Tax Credit
$(2,500.00) CVRP Rebate
-----------
$34,804.89 Paid after receiving tax credit and rebate

KBB is showing a Trade-In value of $27K and a Private Party value of $28.5K, however in the online forums I'm seeing people buying new at $37K such that after tax credits and rebates they will be looking at $26K for a new FFE! This fact and the super low lease deals offered by Ford, Nissan and Chevy has me thinking of starting in the $25K range for a private party. The car has been really enjoyable and perfect except two months ago the 1/4 bar on the charge ring stopped working. I've got it at Ford today to get that repair going, a 15K service, and the MFM 3.5 update.

Does anyone have experience trying to buy or sell a used FFE?
Any thoughts on the best place to advertise or sell wholesale (Autonation, Carmax)?

Thanks for any help.

Tim

 

[v_traveller]

If it were me, I'd be happy if I could get $23K out of it, knowing that a fresh one with no miles on it can be had for $26K or worse yet, well under $300/mo with nothing out of pocket, quite easily in So Cal.

Remember that the $2500 CA rebate is yours to keep only if you have the car for a minimum of 36 months... you may want to contact the CVRP folks to figure out how to handle an "early termination"; I thought I read that it's prorated. Or maybe wait until they hunt you down.

 

[AireV]

Congratulations on your Model S purchase!!!

With new ones leaving the So. Cal. dealers at $25K these days, good luck finding someone to dump your FFE for $25K.
I am not saying it is not possible. If it was me, I just don't think I will be able to sleep OK at night if I did that to someone.
During past two months, market dynamic in EV price has dramatically changed. It is a bit unfortunate for you. If you only acted as late as April....

 

[Evocus]

Dealer just told me they have no interest in purchasing/reselling my FFE. No surprise there but thought I'd ask. I'll probably drive it to Carmax as well to see what number they will give me.

@v_traveller
I'm thinking your $23K number is closer to correct, or even perhaps lower if I want to move quickly. Thanks for the tip on CVRP, I sent them an email earlier today explaining my position and asking for approval to sell at a loss (they don't want you to profit on the car) or guidance on the way forward. The dealer also mentioned that the car must maintain a CA registration as part of the CVRP deal (although not stated explictly, I believe) so perhaps if I find a CA buyer I'm okay with them. I'll update when I hear back from them.

@AireV
Thanks! I pickup two weeks from tomorrow.
Yes, I was watching the crashing EV market prices while being ambivalent about the Model S purchase. [Cliche added here about snoozing and losing] :shock:

 

[v_traveller]

Interesting, please keep in contact and tell us how the CVRP thing goes. Some of us may have to deal with it in a couple of years... I tend to dump my leases 2 to 6 months prior to lease termination (at this point, probably for another FFE), so there's a good chance that I'll run into the same dilemma.

And... congratulations on acquiring the holy grail of all electrified vehicles!!!

 

[Evocus]

I have a few more data points about the market now.

AutoNation: Tesla has a trade-in agreement with AutoNationDirect where they take all your information and pictures online and deliver a guaranteed purchase number for 30 days. Once they see the car and verify that what you have stated is accurate, they pay Tesla directly. AutoNation offered $19K.

CARMAX: Carmax says they don't resell electric vehicles of any kind and instead they put them up for auction to let other dealers bid. Because they don't resell it directly, they know their offer will be low and inform you as such as you go into the process. Carmax offered $17K.

KBB: Excellent Trade-In Value of $27,150 last week has dropped to $26,250 this week, so they are catching up quickly to the declining market value.

I'm leaning toward the AutoNation deal since it's direct to Tesla and easier than working up an ad and setting aside time for selling to a private party.

 

[v_traveller]

You might want to try these guys:
http://tradeinsolutions.com/index.php

I'm going to call them tomorrow AM... decided to sell my backup ICE vehicle, don't want to deal with the private party scene. Reviews online seem to indicate that they're better than Carmax.

 

[SteveZ1]

HI there,

If anyone has another FFE for sale at near what Tim was trading in his for please contact me.

[email protected]

Thank you for your help

Steve

 

[ashuri]

Evocus...Trade-in solutions rocks! I've sold them 2 cars...tell Abe "the professor from USC says hi and sent me" he knows me well

Good luck

 

[AireV]

Go! Trojans!!

 

[v_traveller]

Whoa! So there's at least three Trojans here (me included). Fight on!

Haven't made an appt with Trade-in Solutions yet to unload my ICE... A/C isn't blowing cold, figure I'd better get it recharged before trying to sell it. Thanks for the review, ashuri...