What you might gain in tax credit value, you might lose in market value as the used car shortage improves.iPlug said:Probably won’t actually go through with lease buyout for a few months as lease concludes in June and have a Model Y order on hold until the beginning of the year for anticipated $8000 federal tax credit and $4000 federal tax credit for the used BEV (not for us but next purchaser of Leaf) so this will likely raise the CarMax offer.
'A bird in hand ... ' comes to mind
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I sold my 2018 Tesla Model 3 LR to CarMax this morning for $43k. It has just under 34k miles and was purchased 41 months ago for $51k at a time when the federal tax credit was $7,500 and the Colorado tax credit was $5,000. We'll replace it with a Model Y we ordered in September. It is pretty remarkable to think that if the federal tax credit is renewed for Tesla, we will end up being paid to swap our 3.5 year old Model 3 for a new Model Y.
I had been dithering with myself when to finalize the Model Y order but I recently realized that there was no chance of delivery before the end of the year, and the sooner the car is delivered in 2022, the stronger the hand I will have. We may end up keeping the Model Y for a short time if an even longer range Model Y than the current LR becomes available. While the longer range than the LR model is not terribly important to me given the recent expansion of DC fast charging in the locations we like to travel, I still think an EV that approaches 400 EPA miles is worth an upgrade price.