Tesla Loan Transfer?

[Rebel]

Has anyone sold there house with the Tesla Loan?
I am wondering if I need to pay off the loan or if the loan / contract can be transfered to the new owner.
Took advatnage of the 0.99% financing for 10 years, need some clearity and of course our lovely Tesla Energy customer support has been useless / slow to get back to us.

Thanks!

 

[morbidz]

pay it off, less headaches for all parties involved

 

[Matt-FL]

@morbidz is right, most realtors will tell their prospective buyers to run away from residual loans, especially solar. Your best bet is to calculate paying it off and asking a higher sales price to compensate.

 

[Redhill_qik]

Has anyone sold there house with the Tesla Loan?
I am wondering if I need to pay off the loan or if the loan / contract can be transfered to the new owner.
Took advatnage of the 0.99% financing for 10 years, need some clearity and of course our lovely Tesla Energy customer support has been useless / slow to get back to us.

Thanks!

This should be the same as if you had a HELOC tied to the property, just have it paid off as part of closing.

 

[IronCoffee_Max]

According to my loan docs, you must pay it off before sale.

 

[Rebel]

According to my loan docs, you must pay it off before sale.

Yeah I went digging looks like you are correct sir

"Demand feature. You agree that if you sell or otherwise transfer ownership of the home on which we install the Products. you will pay the full unpaid balance under the agreement"