In some states (CA, GA, HI, MD, SC, TX), you’ll pay the sales tax for the entire purchase price upfront but you may receive a tax credit accounting for the extra sales tax when you file your state taxes.Ĭheck with your state government for details specific to your state and vehicle. For example, if you’re purchasing a new Tesla vehicle for $60,000 and you’re trading in a vehicle valued at $10,000, the sales tax for your purchase would be calculated as if you were equal to purchasing a $50,000 vehicle. If applicable, the value of your trade in vehicle will be subtracted from the purchase price of your new Tesla vehicle before state sales tax is calculated, meaning you pay less sales tax at the time of your final payment. If you live in one of the following states, you may be eligible: AR, AZ, CO, CT, FL, ID, IN, KS, MA, MN, MO, NC, NJ, NM, NV, NY, OH, PA, TN, UT, WA, WV, WY. In addition to adding credit toward your vehicle purchase, several states offer an incentive for trading in your vehicle in the form of a sales tax credit.

Can I roll all my negative equity into my new vehicle financing agreement?.You must also notify your state of the trade-in sale and ensure you are no longer liable for the vehicle after the date of sale. To trade in your vehicle, you must hand over the vehicle, title and a lien release if applicable during your delivery appointment. Once your registration and title are confirmed and approved, you can schedule your delivery date.Īny applicable positive equity can be applied towards the purchase of your new or used Tesla vehicle. If you accept the final trade-in offer, you must upload a photo of a valid registration card and your vehicle title. We’ll email you when your trade-in offer is ready. You must submit your VIN, odometer mileage, zip code, damage history and photos of your vehicle in the Tesla app to receive a trade-in offer. The final offer for your trade-in vehicle will be available after you place your order, subject to a physical inspection. Before you place an order, you can get an estimate of your trade-in vehicle by submitting your VIN.

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