Our east coast Y delivery pushed from July 27 to Aug 7. Their trade in offer for '18 M3 was more than we owed on the M3 loan. So balance applied to Y. But, with this delay, Tesla "pay off team" has still not paid off the 3rd party loan. Meaning that we will incur an additional loan payment on the old car. Any commiserates?
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Tesla Trade-in pay off delays
- Thread starter Juanpelota
- Start date
steve841
Active Member
Sucks, but it is what it is ...
I bought a GMC and they took 15 days to make the payoff after telling me no more than 7 days ...and of course, I had another payment due on the 10th day. Had to make the payment and wait for the refund.
I bought a GMC and they took 15 days to make the payoff after telling me no more than 7 days ...and of course, I had another payment due on the 10th day. Had to make the payment and wait for the refund.
steve841
Active Member
It was crazy for us. We had to call several times... They eventually did pay it off of course... but it was clearly falling off someone's overloaded desk. They also gave us a credit for the xtra payment in the gift store....
I'm in that same boat. I took possession of our Model Y last Tuesday with a trade in. The trade in amount was greater than the amount I still owed on the trade in. Tesla applied the difference to the purchase, but has yet to pay off the loan on the trade in (which, technically I don't own any more). My loan on the trade in (like the Model Y) is/was with Wells Fargo. Today WF made a draw on the loan I had on the trade in (my Model y first payment not due until December). I find it annoying that I have to chase them down to get all the details of the transaction done correctly. I could see a less than favorable review of Tesla if this isn't fixed quickly.
So Telsa finally paid off my trade in - almost 2 months after I actually traded the car in. But get this - they had the nerve to get a new payoff figure, that was 1,100 less than what it was when I took delivery, because I had to keep paying off the old loan. Normally, a dealer will remit (fairly quickly) the payoff at the time of the deal. If there's an overpayment, it goes back to owner. Now I have to go after Tesla for the difference. Maddening.
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