2023 Model X 6 Seat EAP

[Aproxia]

Definitely not worth the hassle it seems for the lease-to-buy option. I’m not going to proceed. Thanks for all of the advice.

 

[Zorg]

Easiest way is to go with buyer to the bank where they're borrowing money from to do the deal. If paying cash, go to buyer's bank and watch them get a cashier's check from bank in front of you. Good luck.

 

[Aproxia]

Yeah I actually have 3 potential sales options available to me right now:

1. Neighbor who is interested in purchasing (they are currently going through heart surgery so not their focus right now).
2. Out of state sale with shipping of vehicle (from someone on this forum actually, but the process to get the title transferred seems very complicated - we're still ironing out the details).
3. Trade-in to Kia dealership (still waiting on their official offer, but after the initial assessment, they were thinking $91k on the low end, but were going to do additional research to see if they can come up from there. There is the additional incentive of zero'ing out the taxes on the Kia which in CO would be ~7% of ~$55k, but that doesn't but a dent on the delta between $105k and $91k).

Obviously, # 1 above would be the best if it goes through.
BTW, here is the "contract" verbiage for the lease-to-own agreement (which I’m not seriously considering) if anyone is interested.

My credit is not the best right now I just recently started making good money last year, my credit is the only thing stopping me from buying a new one. Of course any changes you want to the contract will be added

 

[TLLMRRJ]

What is the complication with the title? That shouldn't be an issue, even if you have a loan.

 

[TLLMRRJ]

Oh and that contract isn't really worth the paper it's printed on if he is a flake. Bad credit is a big sign of a flake.

 

[Aproxia]

What is the complication with the title? That shouldn't be an issue, even if you have a loan.

Here is what I've gathered so far:

I called Wells Fargo and spoke with their Title department which stated the following:

They will send the title once account is paid off.

After they receive the payoff amount, they will hold the title for 3-6 days.

After they release the title, it will take 7-10 days to receive the title via mail (they don't issue electronic titles). The shipping could be shortened if we give them a FedEx account that they can bill to expedite shipping.

The title will be sent under my wife's name to our address.

Once the title is in hand, the title transfer process can occur at a DMV.

I am not clear if the title can be sent to you with a notarized statement that the title should be transferred to you or if CO requires both parties to be present for the transfer process (i'll do some more research).

 

[TLLMRRJ]

Here is what I've gathered so far:

I called Wells Fargo and spoke with their Title department which stated the following:

They will send the title once account is paid off.

After they receive the payoff amount, they will hold the title for 3-6 days.

After they release the title, it will take 7-10 days to receive the title via mail (they don't issue electronic titles). The shipping could be shortened if we give them a FedEx account that they can bill to expedite shipping.

The title will be sent under my wife's name to our address.

Once the title is in hand, the title transfer process can occur at a DMV.

I am not clear if the title can be sent to you with a notarized statement that the title should be transferred to you or if CO requires both parties to be present for the transfer process (i'll do some more research).

Nothing too complicate there. Just takes some time. I didn't get my titles from Tesla right away either.

People on Bring a Trailer and Cars & Bids are selling cars every day with loans. Those online auctions just play match maker and don't get involved in the transaction other than to provide advice and best practices. So you can follow the same advice.

Here's the FAQ for Cars and Bids:

• If there’s an outstanding loan on the vehicle, the buyer and seller should discuss how it will be paid off and the specific next steps, so that the buyer can complete the transaction safely.
  • If the seller has funds to pay it off, they should do so as soon as possible, and provide proof from the lender that it has been paid off.
  • If the seller does not have the funds, the buyer may be able to pay the outstanding amount owed directly to the lender and then pay the remainder of the purchase price to the seller.
• An accurate Bill of Sale should be created, including the terms of the transaction, to be signed by both parties; we recommend checking with your state DMV for Bill of Sale templates and requirements.
• We recommend wire transfers or cashier’s checks for payment, but there are many possible options – including meeting at the buyer’s/seller’s bank to draft up a cashier's check, withdrawing the funds directly, or completing an electronic money transfer.
• Arrange for the car to be picked up and finalize the transaction. If the buyer plans to ship the vehicle, they can book shipping directly through the winner’s page or by contacting our shipping team at [email protected] or (978) 955-2355. The vehicle and title should only be released once the seller has the full payment in hand. If the transaction is happening remotely, the seller should mail the signed-over title to the buyer via courier service with a tracking number once payment is in hand.

 

[Aproxia]

I guess you're right. I'm not exactly sure how a title transfer would work if I'm in CO and he's in CA, we're researching to see if he would have to fly out to CO or if I can ship the title with some type of a signed letter that authorizes the transfer.

 

[TLLMRRJ]

I guess you're right. I'm not exactly sure how a title transfer would work if I'm in CO and he's in CA, we're researching to see if he would have to fly out to CO or if I can ship the title with some type of a signed letter that authorizes the transfer.

Different states is a non-issue. On those auction sites, the buyer and seller are rarely in the same state.

When you get the title, you just sign it and send it to the buyer and the buyer goes to their DMV to register the car and gets a new title mailed to them.

 

[domodan]

Are you open to trading it with an R1S?

I have a 6 seater MX, 2023 with FSD. White on white. I’d trade for an R1S and a little cash. If you’re interested in discussing further shoot me a note.

 

[Aproxia]

Dropping Price to $101,995 (something about 9's and psychology ).
This is a last ditch effort for a quick sale prior to accepting a trade-in offer.

 

[Lansonrx]

97k... Let's make it happen.

 

[NoMoreCookies]

Can you share pics of the yellow tire sticker and white VIN sticker (both inside of driver door)?

I'm mostly interested in the GVWR and max payload ("occupants and cargo should not exceed") numbers off those. I plan on towing and the numbers vary per vehicle.