EV giant Tesla has launched a $5,000 Trade-in Credit to entice legacy owners of Model S and X in the US and Canada to upgrade to a new model for a price.
Interestingly, this move may be part of the automaker’s effort to promote and increase sales of these particular models in the US, especially since they are more costly than the Model 3 and Y.
$5,000 Trade-in Credit offer
Tesla began emailing legacy Model S/X owners to inform them about the new trade-in credit for a new car. Apparently, the offer is an additional $5,000 credit when they choose to upgrade to the latest versions of the said models.
“As an early Model (S or X) owner, you are eligible to exchange your unlimited free Supercharging miles for an additional $5,000 on your vehicle’s trade-in value when you purchase a new Model S or Model X.”
Tesla
However, as stated in the email sent to the owners, they have to give up their unlimited free Supercharging miles, which is among the most useful Tesla incentives as of now.
Process
If you are interested in the offer, you can check if you have unlimited free Supercharging miles through the Tesla app and go to the “Specs and Warranty” page.
You must only choose between Tesla Model S and Model X in placing an order to qualify for the said credit. Then, there would be a trade-in process through the Tesla app that you must complete. You will receive your $5,000 USD or $7,000 CAD credit as soon as you accept the trade-in offer.
According to Tesla’s website, the company will determine the trade-in values of the subjected EVs through the following factors: damage history, vehicle configuration, age, and mileage.
“The resulting trade-in value estimate is based on this information that you provide us about the vehicle, plus current market data and internal Tesla product knowledge.”
Tesla
It must be noted that once you enroll in the program, you will no longer use your unlimited free Supercharging perks. Choose wisely!
