Transfer Model 3 to a Friend

[electricity]

hi guys, I have a reservation from day 1, not yet invited to configure but probably soon. I have a Model X and even though I would like to keep my Model 3 reservation , a friend of mine is kinda desperate for me to transfer my reservation to him. I know that Tesla doesn't allow this directly, is there a way for me to buy the car under his name ? I don't want to profit or anything from the sale, just want his name on the title not mine, that way the car will only have 1 owner. Is there a way to do this ? and how does the 7,500$ Credit work under these circumstances ? thanks in advace for the help.

 

[Lhshockey24]

Check the search function on the Model 3 forum. There are a couple threads about this. I’ve been told you can have your friend do all the registration and financing in their name. Call Tesla customer service and confirm if you’re worried about any hiccups. My OA also confirmed this was possible.

 

[neptune2000]

hi guys, I have a reservation from day 1, not yet invited to configure but probably soon. I have a Model X and even though I would like to keep my Model 3 reservation , a friend of mine is kinda desperate for me to transfer my reservation to him. I know that Tesla doesn't allow this directly, is there a way for me to buy the car under his name ? I don't want to profit or anything from the sale, just want his name on the title not mine, that way the car will only have 1 owner. Is there a way to do this ? and how does the 7,500$ Credit work under these circumstances ? thanks in advace for the help.

I am registering my Model 3 in my wife name, with all her data (Driver's license, insurance, trade-in) and her listed as "registered owner". The UI at tesla.com allowed me to do that without an issue. I am still going to be making the payments (except the trade-in). If you got the cash from your friend, you could easily do it the same way. Your friend must be present at delivery to pick up and sign the ownership papers.

 

[bswn1]

I am registering my Model 3 in my wife name, with all her data (Driver's license, insurance, trade-in) and her listed as "registered owner". The UI at tesla.com allowed me to do that without an issue. I am still going to be making the payments (except the trade-in). If you got the cash from your friend, you could easily do it the same way. Your friend must be present at delivery to pick up and sign the ownership papers.

Will loan be in your name or her name?

 

[neptune2000]

Will loan be in your name or her name?

No loan, I am paying cash and trade-in her car. But Tesla would accept any loan company. The loan company just mails a check to Tesla, and they apply it to your balance. You will have to have them do that way ahead of your delivery date.

 

[Kcharwood]

Any update to this thread?

 

[neptune2000]

Any update to this thread?

All the papers were done with my wife data, took 10 minutes to fill them out. Traded in her car with CarMax quote matched by Tesla. She filled the registration and sale papers. I had already paid the full balance by ACH from JP Morgan Chase. As long as the friend you want to have buy the car is present, and you have listed he/she as the "registered owner" (snapshot of license, current insurance) when you "configured", you'll be fine.

 

[essarrgee]

@neptune2000 I'm slightly confused by this: When you say you're "still going to be making the payments", you're saying that you paid the deposit when you made the order and that the final payment will come from/came from you, or was the change to paying cash something you decided later?

I'd very much like to take advantage of a similar possibility but with a friend instead of a spouse, so just trying to get as much detail as possible.

 

[Kcharwood]

If I were to go and get a loan in my name, what would have been different about the process?

 

[neptune2000]

Nothing. Tesla still gets a check from the loan company and it will apply it to the balance. They really do not care who pays for what, as long as they get paid In my personal case, my wife's Hyundai Elantra was traded in and she signed the sell papers. I paid both deposits ($1,000 and $2,500 CC) and the final balance (by ACH).

Notice that the loan company will only get a loan to the registered owner, not someone else. When you register the car with the DMV, the loan company will be listed on the registration as they effectively "own" a portion of the car until the loan is paid off.

 

[neptune2000]

@neptune2000 I'm slightly confused by this: When you say you're "still going to be making the payments", you're saying that you paid the deposit when you made the order and that the final payment will come from/came from you, or was the change to paying cash something you decided later?

I'd very much like to take advantage of a similar possibility but with a friend instead of a spouse, so just trying to get as much detail as possible.

Yes, pretty much same situation. I am an owner of a Model S P90D. I stayed in line in Santa Monica and charged $1,000 to my credit card for the reservation. I "configured" the Model 3 as per my wife preferences, and entered her name as the title holder, her driver license and her car insurance. I paid the non-refundable $2,500 by credit card. My wife traded-in her Hyunday Elantra which she owned title to personally and that was credited for $8,500 on the balance as per Carmax matched quote. 3 days before delivery I paid the balance by ACH from my Chase bank account. My wife name was on the "welcome" at delivery in Marina del Rey.

Substitute "friend" to "spouse" and the process will be the same.

 

[RockNRy]

Any friends on the forum have a spare, ready to configure, invite laying around? We can get to the bottom of this really quickly

*Apr-Jun reservation holder.

 

[ACA Man]

Nothing. Tesla still gets a check from the loan company and it will apply it to the balance. They really do not care who pays for what, as long as they get paid In my personal case, my wife's Hyundai Elantra was traded in and she signed the sell papers. I paid both deposits ($1,000 and $2,500 CC) and the final balance (by ACH).

Notice that the loan company will only get a loan to the registered owner, not someone else. When you register the car with the DMV, the loan company will be listed on the registration as they effectively "own" a portion of the car until the loan is paid off.

Transfer is allowed with nuclear family and that is it.

 

[FlatSix911]

Transfer is allowed with nuclear family and that is it.

Add Modern family and you may be correct ... significant other, partner, etc.

 

[ACA Man]

Add Modern family and you may be correct ... significant other, partner, etc.

YES.

 

[melburstein]

Any friends on the forum have a spare, ready to configure, invite laying around? We can get to the bottom of this really quickly

*Apr-Jun reservation holder.

Me.

 

[RockNRy]

Me.

Gasp.

Why aren't you using your invite? Change of ?

 

[RockNRy]

Gasp.

Why aren't you using your invite? Change of heart*** ?

 

[allanak]

Lack of alcantara headliner, of course

 

[Colatabajonies]

Well.... if there are any reservation holders that don’t want their reservation anymore, I would GLADLY take it off their hands and compensate for it!

Preferably east coast NY/Boston area.

Message me christopher.m.gilmore@ gmail.com