2015 Model S for $55K

[VegasJen]

Is a 2015 Model S 70D with 27K miles for $55K sold by private owner a good deal? White ext, tan leather interior, retractable sunroof, premium lighting and tech package that has autopilot features (I don't believe it's the "full" autopilot feature - not sure). He was in a minor fender bender but it's not listed on carfax.

Also the seller financed the car through Tesla, I believe. He suggested, I pay him, take possession, he pays off loan and then he transfers title to me. We would put it in a sales contract. Is that the norm? WWYD?

 

[brucet999]

No Attachment.

 

[VegasJen]

Sorry uploaded now.

 

[pleeau]

Is a 2015 Model S 70D with 27K miles for $55K sold by private owner a good deal? White ext, tan leather interior, retractable sunroof, premium lighting and tech package that has autopilot features (I don't believe it's the "full" autopilot feature - not sure). He was in a minor fender bender but it's not listed on carfax.

Also the seller financed the car through Tesla, I believe. He suggested, I pay him, take possession, he pays off loan and then he transfers title to me. We would put it in a sales contract. Is that the norm? WWYD?

That doesn't sound right...

I'd look for a way to have the lender transfer title to you directly. You pay off the remaining loan and title goes to you. You can pay any difference between loan and value to the seller at the same time.

 

[VegasJen]

The seller owes more than what I am paying him =\ so would he pay me the diff so I can pay off the car?

 

[Ghosty]

Don't shy away - ask him directly about paying Lien Holder yourself. Alternatively, contact lien holder and ask about general administrative procedure for such transactions. Ask lien holder if there is a way you can pay them directly and have instructions with payment to add you to the title. They may say no - since they'll release title to owner at time the Note is paid in full.

If you proceed - make sure you get a Bill of Sale printout from the NV DMV website. If you're expected to take the risk - seller should be willing to take extra steps for smooth transaction.

And do NOT make any online payments of course. All transactions should be done in person.

 

[Ghosty]

Here is a link to Bill of Sale. http://www.dmvnv.com/pdfforms/vp104.pdf

 

[Ghosty]

The seller owes more than what I am paying him =\ so would he pay me the diff so I can pay off the car?

Sorry, here is another helpful link from the Nevada DMV: Step by Step instructions for transaction on private party sale. Private Party Vehicle Sales

If he owes more than what you are paying - you can both go to the bank, simultaneously, and pay. Assuming lien holder has a branch in Las Vegas.

All this is assuming transaction takes place in NV.

 

[Buddyroe]

Not sure about other states, but in Georgia, no matter who pays the loan off, the title is sent to the person on the title. That person then signs it and gives it to the new owner. With the new owner have the car and a bill of sale, they're pretty much protected. Just don't pay with cash - get a cashiers check from your bank and have them put the car's VIN on the check (ie, "For purchase of car, VIN xxxxxxxx). Keep the copy of the check the bank always gives you with a cashiers check. With you having the car, a bill of sale, and proof of payment, the seller would have a hard time taking the car back.

Like Ghosty said, this is only relevant if the title for the car is not being kept locally. If it is at a local bank, go there and pay the car off. You should get the title immediately.

 

[VegasJen]

He financed through Tesla, via Wells Fargo. He suggested we both go to a local branch (it's my bank as well), I pay him, he pays off loan then, gets a release on the lien and transfers title to me, all in one sitting. i will have him sign the Bill of Sale too - thanks Ghostly for that suggestion, and I will look at the other link.

As for the damage, he's saying its superficial. He doesn't have any photos of the damage, but is looking of the repair records. If he got it fixed at Tesla, I would assume the repairs were done well? nothing shows up on carfax...

 

[ACA Man]

I think that sounds fine.

I am sure Wells Fargo will take care of everything for you guys.

Good luck.

 

[JPUConn]

Sounds good and if your happy with it then congrats on your purchase!

Just be aware if the title is not physically there it will be released to the seller who will have to sign it over to you. This could delay your ability to secure temp registration to transport the vehicle.

In my experience I release / accept the vehicle upon finds clearing

 

[rcrahulrc]

Did you end up buying the vehicle? Did everything go as planned? I am in a similar situation - owner said the car was in an accident but cannot find any repair records or pictures. I am a little hesitant to buy.
Any advice?

 

[VegasJen]

Yes, I did buy it! Everything went according to plan. The buyer found the invoice from the repair shop. I think he called Tesla to get it. I sent to it to a friend who owns a garage and she confirmed it was minor - all cosmetic. Have the buyer call Tesla to get the records or to the repair shop that they sent the car to. If I didn't have the receipt to confirm, I would not have bought. Yes it's still under warranty but if there were major repairs on it, I wouldn't have bought it.

 

[ACA Man]

Congrats!

 

[VegasJen]

Congrats!

Thank you! I'm getting the NEMA outlet installed this weekend so I should be good to go pretty quickly here. She drives like a dream and I can't imagine ever going back to a different car.