Buyout issue with Tesla

[kenysl]

So my Tesla model X lease expired in July 2020. I had to extend it as model Y hasn’t arrived. So yesterday I received an sms telling me Y has arrived and can pickup next week.

I posted the model x online to sell a month and had a serious enquiry. So I contacted Tesla to arrange buyout. So in 3 days I called them and ask them for a buyout quote but received nothing?!

Today the delivery specialist told me that even if I buy out the vehicle it’s subject for their inspection and the buyout process would take a month! I’m very surprised on this as first why they need to inspect anything when I’m buying it out?! And the process takes so long? I had bought out my leased Porsche with a third party and it was a breeze to buyout!

I talked to the Porsche sales and they said Tesla has a very good reselling position and Tesla simply don’t want leaser to buyout so they can make that extra buck on their own. I’m very disappointed With how they handle this and seems they are building these barriers from me buying it out. Anyone has similar experience?

Also noted that all new model y or 3 on just came out lease term you must return the vehicle. No purchasing right after you lease!

 

[Jgdixon]

Are you part of the official owners club in British Columbia?
They may be able to contact someone on your behalf.
I am the president here in Ontario.
You can email me at [email protected] if you don’t get any saitisfaction there.

 

[xG35]

I think the delivery specialist might have been giving you the wrong information.
I just bought out my S 2 months ago and it is the finance team that does all the work.

You want to call the finance team for them to send u the document. It is pretty straight forward except for the money wiring part that caused me some headache.

 

[kenysl]

Yes I’ve been calling Tesla finance twice. They said will email quote after our conversation and yet to receive anything. Yesterday I went to service department and the service guy said an inspection is needed before a buyout quote. I’ve arranged that next Monday.

@Jgdixon no I’m not in the club. In what area they can assist? Many thanks

 

[Lloyd]

That is not correct. NO inspection is needed if you are buying the vehicle. It is by the contract only! It could be perfect or wrecked and the buyout would be exactly the same.

 

[TLej]

I wonder if the inspection is needed because you extended the lease? It's kind of weird, I would think the buyout would be whatever the residual was less whatever you've paid in additional lease payments. I had no inspection when I bought mine out, and I agree with xG35 that the most difficult part was getting the money wired to the correct bank. My leasing agreement was with Tesla directly, but their bank is in the US so it took a phone call or two to get the proper routing info. That said, it only took about 30 minutes while I was sitting at the bank to process the transfer.

 

[Al604]

Yes, in BC Tesla makes you pay for an inspection since it is going to a new private owner. This way they can say the car was inspected and the new owner was aware of any existing issues (CYA). Only way to not pay for inspection is to sell the car to a dealer.

 

[MarkoJ]

I am in the middle of buying out my Model S lease and what a horrible experience. It's literally going to be a two+ month process from start to finish.

I also live in Victoria and apparently I'll have to take it to Vancouver for the inspection.....what the **** I've had the car since brand new why do I need to pay for an inspection.

Love Tesla but lease buyouts with previous brands have been a simple one day process and no inspections.

 

[angus[Y]oung]

I've only bought out one lease through Ford Credit years ago (to resell to someone I knew), and it was pretty painless. In fact, that was one of the benefits of buying out the lease was that I did not have to go through an inspection. It seems rather ridiculous that they would put you through that!

 

[MarkoJ]

The first email I sent to Tesla to buy out the car was July 3rd, 2020. I wired Tesla $46,000 two weeks ago once they figured out all the numbers and still no title/transfer of ownership, no inspection time booked, nothing.

I would consider a Model Y but this process is seriously turning me off buying another one as I just don't have the time to deal with the BS and losing an entire ****ing day having to go to Vancouver for an inspection when I had the car serviced/inspected earlier this year.

 

[xG35]

I believe it took me about 2 weeks to get the title. In Toronto, I did require a vehicle inspection. My experience was, sinxe you are buying the car and reselling it the time, the mechanics don't even look at it.

 

[ItsNotAboutTheMoney]

That is not correct. NO inspection is needed if you are buying the vehicle. It is by the contract only! It could be perfect or wrecked and the buyout would be exactly the same.

OP is in Canada.
Unfortunately the agency's lease buyout factsheet isn't available, but if treated as a sale, they'd have to follow rules on inspection: which would likely mean either sell it with a valid inspection or with a document indicating that it doesn't pass inspection.
That wouldn't be the normal lease inspection which checks for damage, but the one that is required to make it road legal.

 

[MarkoJ]

Tesla still refusing to send me the final paperwork until I have the car inspected by Tesla. Earliest service appointment available for inspection is Sept 21st and I am I leaving the country Sept 12th. Any suggestions?

Completed ****ed given I started this process on July 3rd and there have been on delays on my end.

 

[mahagala]

Tesla still refusing to send me the final paperwork until I have the car inspected by Tesla. Earliest service appointment available for inspection is Sept 21st and I am I leaving the country Sept 12th. Any suggestions?

Completed ****ed given I started this process on July 3rd and there have been on delays on my end.

Any particular reason you don't want them to inspect vehicle? Should only take no more than 2 hours top. When I sell vehicle to a friend for $0 dollar (give away), MTO required me to submit inspection report as they need it for paper work to process ownership transfer. Maybe this is the reason? BTW, Tesla is a store not dealership, so they might do things differently, just saying...

 

[rainforest]

Now you're scaring my. I'm in Vancouver and planning to buyout my lease next February. Should I start now?!