Harder to sell when loan through Tesla?

[Gsxr150]

Hey guys/gals - curious on your thoughts... Is it MUCH harder to sell a Tesla privately if it's paid off vs having a loan through Tesla? Is it a bear for the person buying it?

 

[240vPlug]

Paid off it’s easier to sell for sure because there is no lien preventing the buyer from transferring title. When you have a loan, it must be paid off and the lender has to provide a lien release or termination statement.

How much harder it is would be subjective. Some buyers don’t mind it while others don’t want the hassle. I haven’t dealt with Tesla finance on this so if you have a loan through them you may want to contact and find out how long it would take to turn it around.

This is why I like to use local credit unions. Often times they can turn things around much quicker than the big banks.

 

[Gsxr150]

Thank you!