Trade in - payment query

[TheGman247]

Hello,

Ordered an inventory MY, PCP finance approved, currently waiting for trade in valuation. My question is how do Tesla pay for trade ins, is the value deducted from the order/finance, or do they transfer you the money?

Also, how do I find out the vehicle registration to provide to the insurance company?

Thanks.

 

[Cilonen]

They transfer the money, although be prepared to wait up to a month after collection for that to happen!

They'll notify you of the reg several days prior to collection, but you shouldn't have any issues getting the insurance quote in advance & just finalising when you have the reg.

 

[Kansalis]

It's deducted from the finance & they will directly pay off any remaining finance on your trade-in vehicle if there is any. I imagine they would pay any extra to you if you prefer to take cash for the trade-in, but others would know better than me on that front.

When getting insurance you would need to let the insurer know the make & model and that you don't have a registration yet as it's not yet registered. Tesla register the car with the DVLA on the day of collection, unless it's an ex-demo (which would already have the reg). I believe most insurance companies are quite used to this with new cars & will give a deadline to provide the registration. I think mine was 24 hours.

 

[AdamV]

I didn't get a notification for the VRN, however it was to be found in one of the invoices that they sent, accessed via my Tesla web account. I can't remember the file name, but it was top right.