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Has anyone actually used the 3 year buy back program?

Discussion in 'Model S: Ordering, Production, Delivery' started by amans232, May 20, 2016.

  1. amans232

    amans232 Member

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    Hi, I wanted to know if anyone has returned their car after the 36 month period based on their buy back policy.

    Also, there is a clause that states that in order to use their buy back policy, that you must have serviced the vehicle with Tesla every year. Does anyone know how strictly this clause is enforced?
     
  2. Blue_Model_S

    Blue_Model_S Member

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    I have an offer from Tesla to do that and I did not get my car serviced every year.
     
    • Informative x 1
  3. Larry Hutchinson

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    I am in the process of trading in my S40 for an S70 with autopilot. Due late May or early June.

    I made sure I did the yearly service.
     
    • Informative x 1
  4. amans232

    amans232 Member

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    Larry, does a trade mean a "buy back" has to happen first?
     
  5. bonaire

    bonaire Active Member

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    The problem with the buy-back is the wording. It appears you must pay the loan off completely to close out the loan and hold title so that then they will buy it from you. I know it can be done in one day - but it involves the car owner paying it off first before Tesla will buy it from the owner. Is that your experience?
     
  6. amans232

    amans232 Member

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    I don't know, I haven't done it, but that would be interesting to know how it works from someone who has done it before.
     
  7. Larry Hutchinson

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    Haven't completed it yet but I understand that when my new car is ready, I just drive the old one in and return with the new.

    I specified that the remaining value (Tesla offer minus loan balance) be used for the down payment. My car has been inspected and the original offer stands. I ended up with a positive equity of $18,200.
     
  8. Blue Millenium

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    Dealing with usbank is a nightmare. Caveat emptor.
     

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