TRADE IN PAYOFF TAKING FOREVER!

[Speedgirl]

I wanted to see if anyone else has had the same experience I have had with my trade in payoff. I took delivery of my Model 3 Performance on March 16 of this year. On the day I took delivery, I traded my 2019 Genesis G70 in to Tesla, with money still owed on my Genesis. It is now May 26 and Tesla STILL has not paid off my trade in. I have had to make a payment on my Genesis in March, April, and now May! This is ridiculous and trying to get a hold of Genesis Finance is a joke. I have now sent my second email to Tesla Finance to see what is going on and why this is taking soo long. Has anyone else had this same experience???

 

[GenralSpecific]

I took delivery on March 17th and traded in my MINI. I financed through a local credit union. Tesla did take a while to pay off, but I think that was in April - I ended up with the auto-pay going through in April, but I got a refund on that from the (other) credit union. Something is not going well on Tesla's side... You will have better results calling the Tesla location you took delivery from and talking with a human. I found email to be less effective - the folks at the Schaumburg location (where I picked up my car) were super helpful.

 

[BoneHLP]

I had a similar experience where Audi was waiting on Tesla to give them an "Odometer Statement" form...I had to make 2 extra payments because the alert was sent to my Audi electronic inbox and not an actual piece of mail...it was a bit of a pain and Tesla kept telling me "Audi has everything they need" and then I'd call Audi and they were like "Please just have them fill out this form and send it over...this is standard stuff"

Audi refunded me and all was well after 2 months.

Haha, I love my Model 3 but literally everything is much more difficult than need be...it was so nice dealing with Audi during this time -- I'd call them and someone would answer and they were very nice and knew exactly what they needed vs. me calling Tesla, no one answering; so I texted my sales advisor who ignored me for 3 days then got back to me on the 2nd follow-up to tell me that "everything is fine, Audi is confused." Then I had to send Tesla a form pre-filled out by Audi and someone just had to sign it to get my payoff.

We all know this, but damn, if Tesla could get their front-facing customer service in order they would really be tough to beat -- their cars are amazing but I literally have no clue how "normal" people (who aren't Tesla fans and are mega-patient) deal with their BS.

 

[sperry729]

Had this happen on a trade. This is on Tesla, not Genesis in this case.

In my case, Tesla had showed record that they initiated the trade payoff via ACH transfer shortly after trade-in, but the bank had no record of payment ever being made. I had to prod the Tesla a few times on the matter and they eventually re-issued a new transfer that did go through. My guess is that there is an issue with some of these transactions where Tesla is showing record of payment being made but the payment was never actually made.

You'll want to talk to the Operations Manager of the Tesla location where you bought the car and they will be able to connect with the Tesla Payoff Team (this is what they were called within the correspondence my Operations Manager shared). They will likely tell you that payment was made back in March, but you will need to instruct them to re-issue.

 

[Speedgirl]

Thank you all for your responses, I really appreciate it!!! Every time I have tried calling Tesla and get to the part where it asks for my zip code, it says all members are busy and to send an email lol. I have tried numerous times, even the service center where I bought it!! Just today I texted my sales advisor and he said he would have a Delivery Specialist look into it so I guess we will see! I agree with you BoneHLP, amazing cars but their customer service is something else!!!

 

[FanBoy0427]

I took delivery of my M3 5/16 and my trade in was paid off on 5/25, which I was really pleased about on how fast that took place. I had the trade financed thru a local credit union. One thing to note though, Tesla underestimated the payoff including the interest amount (it was recalculated after I pushed my delivery date out), the payoff was actually short $3 but luckily, I anticipated this and made a small payment on the trade in after delivery.

 

[Stickboy46]

This is one of the reasons why I did a zero payoff trade in. Since my loan for my old car loan was with the same credit union as my new loan (along with everything else I do) they just used the funds from the one loan to pay off the other then sent Tesla a check for the amount minus the trade value. Made it much simpler.

Now if you are financing with Tesla, then sure... But rates were better with my credit union than Tesla when I looked.

 

[GenralSpecific]

How did this turn out for you?

 

[Speedgirl]

Tesla FINALLY paid it off at the end of June!

 

[chdavis]

How are you going to recover the payments you made post trade-in?

 

[GenralSpecific]

I had one payment go through to my bank after Tesla paid off my loan and the bank just sent me a check covering the payment.

 

[Speedgirl]

How are you going to recover the payments you made post trade-in?

I actually got a check from Genesis for the overpayment.

 

[chdavis]

That's great. Good to hear you didn't have to fight that back and forth.

 

[Speedgirl]

That's great. Good to hear you didn't have to fight that back and forth.

Thank you, I am happy about that as well!!