Trade in

[roshan]

I have traded in my old Civic for Tesla 3 and took deliver on June 28th but I still see my old auto loan is not paid off yet and today is my monthly loan die date for my auto loan, do I need to worry about it. Anyone had this situation with Tesla.

 

[LunkHead]

Most banks give a grace period before they'll charge you a late fee.. I'd call them and explain it was traded in and have them note your account. If you have a local Tesla store then may pop in there and ask what the hold up is..

I expected the same but my loan was paid off within 5 days. I was shocked honestly as its one of the fastest payoffs I've ever seen. My loan was through a local CU and not far from the Tesla dealer so not sure if that aided in the payoff speed....

 

[KenC]

I have traded in my old Civic for Tesla 3 and took deliver on June 28th but I still see my old auto loan is not paid off yet and today is my monthly loan die date for my auto loan, do I need to worry about it. Anyone had this situation with Tesla.

I think I needed to make 2 additional autopay payments after my trade-in contract was signed/dated. It was disconcerting and annoying having to check if Tesla had made the payoff yet. Obviously when Tesla finally makes the agreed upon trade-in payment, the payoff number is lower, so you'll have a credit amount at the finance bank. The finance bank will eventually send you a check for the credit.