Help Needed. $4k upside down in a Tesla Model 3

Ask the Hackrs
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Hi I am a new here so was just looking to see if anybody had any suggestions or thoughts on what I should do.

I am currently looking to get out of my 2023 Tesla Model 3 (For reasons we don’t have to get in to lol) but I currently owe around $25,000 on it and trade offers I have gotten so far are hovering around the $21,000-$22,000 marks. I currently pay around $710 a month.

I have been poking around trying to find the best lease deals (preferably EV) to roll over into. Does anybody else have any experience rolling negative into a lease? Is the dealer just going to try to take me for a ride or should I have a good chance given all the EV deals that seem to be going around? Is it as simple as rolling like $110ish extra over 3 years on top of an existing lease payment?

Any help or thoughts would be appreciated thanks!

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Did you try CarMax and Carvana? I got better offers from these than the dealers. Also, you should be able to save over $1200 on taxes with a trade-in. A negative trade-in value will go into your monthly payment.

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Texas has trade-in credits, so know what it’s worth but you may not want to sell to a 3rd party - at least do the math there.

There are several manufacturers offering extra Tesla conquest incentives, look at those. Polestar and Porsche come to mind.

Audi + Costco have solid incentives this month.

Good luck!

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Try Driveway.com they offered me the most for my 2022 Model Y and I’m selling it to them

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Also if you are interested in leasing, you can easily find a great lease on another EV that gets your payment around $400-500/month. So even if you had to roll that negative equity into another car, it would only add about $111/month, and your new payment would be less than your current payment.

The lease/financing terms Tesla offers are truly terrible compared to the other EV competitors. Last time I checked, an $100K Tesla Model X would lease for $1,700/month where the equivalent $100K BMW iX would lease for $900/month. It’s just insane what Tesla charges for their leases!!

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No dealer is giving nice offers on Tesla unless they’re ripping your head off on the car they’re selling you.

Handle the transactions separately.

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Yeah, I have gotten a little more from them but was initially was thinking a lease so haven’t dug more into it yet.

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Thanks, yeah leasing was sort of what im leaning towards. Seeing some of the deals on here for different EV’s has me questioning my life decisions :joy:

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Easy, Sell your car privately on FB marketplace and do the transaction using keysavvy. Your buyer will get the $4k ev credit and you got the full price you are listing it for as long as it is under $25k.

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You can always ignore the gaslighting on the subject and just keep your (almost new) car and ignore the NE.

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Came here to say this.