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Has anyone sold their leases Model 3 to a dealer? [as of 10/28/21 not possible any longer]
- Thread starter Rang1730
- Start date
Of interest...
consumerprotection.net
Schlanger Law Group - Files National Class Action Over Vehicle Leases
The attorneys at the Schlanger Law Group have filed a national class action lawsuit over unlawful vehicle leases and legal discrepancies.
consumerprotection.net
Of interest...
Schlanger Law Group - Files National Class Action Over Vehicle Leases
The attorneys at the Schlanger Law Group have filed a national class action lawsuit over unlawful vehicle leases and legal discrepancies.
Did you read the article you linked, or just link it for the title?
The article states (to summarize) that the class action is over how money down on many lease is not fully itemized, and that the residual value on a lease is reported as money due on a credit report.
It has nothing at all to do with your complaint about selling leased vehicles to dealers.
I read it -- my point was, it clearly shows that the lease contract itself can be not worth the paper it's written on if rights and/or laws are violated... and there's a further link (though incomplete) to the Consumer Leasing Act. If you just do a search for that you'll get the whole deal.
Im looking forward to your report out when you engage your lawyer. Im not trying to be funny or joking, I am genuinely looking forward to see what result you will get when you engage your lawyer (after you sue, I mean) Please let us know.
My attorney has all the docs and is reviewing. I will keep this tread updated on his thoughts. He handles consumer fraud and has done several automobile class action suits.
This is really disappointing because it limits consumer options. Your only options would be early termination or finding a qualified individual to take over the lease. I looked at my finance agreement (February 2021) and there is nothing in there that states you can sell it to a 3rd party dealer. Tesla already stipulates that you can’t purchase the vehicle. By leasing you really have no right to sell it under this Tesla lease agreement. Return it or get someone to take it over are the only options now. Seems like a money grab to me. Tesla wants to make the profit on the vehicle instead of allowing a 3rd party to do so which I understand but it isn’t good for the person leasing the vehicle either.
To me this isn’t a case to buy the vehicle though. By leasing you are protected from financial loss should the vehicle be worth less then the residual at the end of the lease. While right now it seems unlikely that this would be the case one must remember the market can change very quickly. I am not an attorney or a financial professional.
To me this isn’t a case to buy the vehicle though. By leasing you are protected from financial loss should the vehicle be worth less then the residual at the end of the lease. While right now it seems unlikely that this would be the case one must remember the market can change very quickly. I am not an attorney or a financial professional.
I was able to get one last lease sold to Carmax.
After some going back and forth, Tesla decided to honor the request even though 3rd party lease buyout with Carmax/Tesla ended 2 weeks ago. It’s a long story but was pushed through, since the request came prior to the change – I did an online buyout request last month just to see what the buyout would be and that saved me.
2020 Model 3 Performance
Currently in month 13 of 36 lease.
Love the car but needed new tires and thought let’s see if I could make a little profit.
Buy out $45,032. Headed to Carmax and appraisal came back at $58,000 !!!
Done
Got a check for a little over 12k and ordered a new performance. Buying this time.
4 days later, 45k posted to Tesla account and we are good.
Such an easy process. The car was handed over to Carmax in Broward County, FL on a Monday night and at a Carmax in Alabama by Tuesday night.
After some going back and forth, Tesla decided to honor the request even though 3rd party lease buyout with Carmax/Tesla ended 2 weeks ago. It’s a long story but was pushed through, since the request came prior to the change – I did an online buyout request last month just to see what the buyout would be and that saved me.
2020 Model 3 Performance
Currently in month 13 of 36 lease.
Love the car but needed new tires and thought let’s see if I could make a little profit.
Buy out $45,032. Headed to Carmax and appraisal came back at $58,000 !!!
Done
Got a check for a little over 12k and ordered a new performance. Buying this time.
4 days later, 45k posted to Tesla account and we are good.
Such an easy process. The car was handed over to Carmax in Broward County, FL on a Monday night and at a Carmax in Alabama by Tuesday night.
CapeOne
Active Member
2020 Model 3 Performance
Currently in month 13 of 36 lease.
Love the car but needed new tires and thought let’s see if I could make a little profit.
Buy out $45,032. Headed to Carmax and appraisal came back at $58,000 !!!
Done
Good deal. It looks like CarMax currently has seventeen 2020 M3 Performance models ranging in price from $54,998 to $63,998. I assume yours in the $63,998 one.
CapeOne
Active Member
You had mentioned Alabama and there's one in Mobile, AL with 13k miles for $63,998 and I thought it might be yours.
lol ... yup that's it. Thanks
Interesting when I searched by vin, it didn't show.
They took the tint off. I wonder if that's a carmax or Alabama thing. It was dark.
Interesting when I searched by vin, it didn't show.
They took the tint off. I wonder if that's a carmax or Alabama thing. It was dark.
So I was sent this as a PM from someone who says he's a class action attorney:
"David - I should add that to the extent Tesla owners lost out on opportunities to sell their leased cars for a profit, and the restriction against lease buyouts imposed by Tesla was a breach, there could be damages."
Of course one would have to prove a breach, I assume. So, FWIW...
"David - I should add that to the extent Tesla owners lost out on opportunities to sell their leased cars for a profit, and the restriction against lease buyouts imposed by Tesla was a breach, there could be damages."
Of course one would have to prove a breach, I assume. So, FWIW...
I have a Model X lease and item 26 talks about purchasing the vehicle where your item 26 shows intentionally omitted.
Looks like you can buy out a Model X but not the 3 or Y
I am still trying to figure out why folks want to pay more for used M3P vs. just buying a new one?
Tesla site says delivery in a month. 
