Trade-in Loan Payoff time frame

[Spirit Bear]

Hello everyone,

I took delivery of my new Model 3 on Sept 1. So far the car has been amazing! At the time I traded in my 2013 Volt.

I still owed money on the loan for my trade in. Tesla was supposed to take my trade and apply the value of the trade to pay off the loan on the trade in.

So far, Tesla still has not paid off my trade in. In the past, when I've done this with other car dealers, the pay off has always been in a few days. It has now been over two weeks.

Has anyone else who traded in their car and had Tesla pay off their trade-in's loan balance have a similar experience?

 

[alxwhy]

it took about two weeks before my trade in was paid off. it may be easier to call the bank and ask if its been paid off.

i also didnt receive any notification of payment from anyone, it was just taken off my account one day when i signed in to look. i still haven't received all my signed documents from tesla yet.

 

[Thoglom]

So I took delivery of mine on 7/31 and my trade in wasn't paid off until early September. When I had called and followed up (multiple times) they finally figured out that I didn't sign a certain document needed for the loan I took out via USAA for the Tesla and until they received that amount, they wouldn't have been able to pay the car. So I signed that paper and about a week or two after that, I found that my trade in was indeed finally paid off.

 

[Spirit Bear]

So I took delivery of mine on 7/31 and my trade in wasn't paid off until early September. When I had called and followed up (multiple times) they finally figured out that I didn't sign a certain document needed for the loan I took out via USAA for the Tesla and until they received that amount, they wouldn't have been able to pay the car. So I signed that paper and about a week or two after that, I found that my trade in was indeed finally paid off.

Yikes! I did call the local dealership here in Raleigh and they are investigating...

 

[Hmmdecloth]

I asked the question of when to expect the payoff when I took delivery and traded my car in. I was told it would be paid off before my next payment date. The payoff appeared to go through a week or so before my next payment on my traded in car was due.

 

[tuska]

I took my Delivery on Sept. 11th, and they still haven't paid it off. Is there a way to escalate or chase this? I've tried calling the Customer Loyalty Line, but they don't answer even after hours of listening muzak. At some point I need to know whether they are processing it or not? I don't know if it matters that my new car was not financed by Tesla.

 

[taniac]

I took delivery on December 1st and my trade-in is still not paid off. I have waited on hold endlessly and have sent a note to my delivery specialist but I'm still waiting to hear what the status is. Its pretty frustrating that this one thing is tarnishing an otherwise amazing experience. I really hope this gets resolved soon as the second payment since trading in is due next week. *sigh*