Early Loan Payoff

[lonsomecrow]

I just paid off my loan for the Model Y today, as I'm picking up my Cybertruck next week.

Has anyone used Tesla finance? If so, how long does it typically take to receive the title back after paying off the loan? I'm planning to sell my Model Y the day before my Cybertruck pickup date, which is in two weeks, and I need to have the title in hand by then.

Thanks,

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[mdcoleman]

I previously had a Chevy Silverado with $2k left to pay when I got my CT delivery date. I paid it off, but shouldnt have. Had to take AILOT from previous lender to quick title in order to hand that over to Tesla for my trade in. Hindsight, like Tesla suggests, I shouldn't have paid it off and let the $2k come off my trade in value, letting Tesla handle everything.

That said, my Chevy loan was thru a local Credit Union, and my CT is financed with USAA - no Tesla Finance in the mix. I'm sure if your MY and CT were/are both thru Tesla Finance, it's probably tomato potato...errrr - probably all the same.

 

[lonsomecrow]

My concern is the time it will take to get my address.

 

[Woodrick]

I just paid off my loan for the Model Y today, as I'm picking up my Cybertruck next week.

Has anyone used Tesla finance? If so, how long does it typically take to receive the title back after paying off the loan? I'm planning to sell my Model Y the day before my Cybertruck pickup date, which is in two weeks, and I need to have the title in hand by then.

Thanks,

Was your loan actually handled by Tesla? Most are sold to a third party and it's up to them to send the title. I'd be surprised if you get it in less than a month.

And just a word to the wise, don't tie anything to the Cybertruck delivery date, they often change at the last minute. Either plan on holding the car for a few weeks or, well, too late for most other options.

 

[TickTock]

I went through The Tesla App (Plaid), loan was covered by TD Autofinance. I paid it off on July 5th. Have not yet received the title.

 

[UberNoob]

Ok so you went through Tesla finance, they don’t finance directly, Elon is not giving you a loan. Your loan is though whichever of the many 3rd party loan providers they used to get you financed. Your beef is with that company. My example M3P was Tesla financing but offloaded to TD. All the payments was through TD website / app. When I paid that off, roughly 4 weeks to receive the lean release letter. DMV also received the same letter. In FL the dmv holds your title which can be printed on demand for the next sale. FL does not send you the title unless requested & fee paid at the DMV.

 

[lonsomecrow]

We all know loan is not coming from Elon, so no need to be cocky.

My previous car lexus title was sent to me in 4 days after i paid off my load (Bank Of America). There is no reason to take 4-6 weeks for title. Tesla customer service is third class!

 

[mongo]

We all know loan is not coming from Elon, so no need to be cocky.

If you know Elon/Tesla isn't the source of your loan...

My previous car lexus title was sent to me in 4 days after i paid off my load (Bank Of America). There is no reason to take 4-6 weeks for title. Tesla customer service is third class!

...why do think Tesla has anything to do with your title?

 

[lonsomecrow]

If you know Elon/Tesla isn't the source of your loan...


...why do think Tesla has anything to do with your title?

Because from Day 1 everything was taken care by Tesla Finance. I didnt have to deal with any bank. My loan company is Tesla Finance LLC. Now behind the scenes if they're using some other bank, I don't know.

 

[mongo]

Because from Day 1 everything was taken care by Tesla Finance. I didnt have to deal with any bank. My loan company is Tesla Finance LLC. Now behind the scenes if they're using some other bank, I don't know.

Ah, you meant not from Elon directly, but the loan is directly through Tesla versus them acting as a middleman (mine was routed to Chase).
All makes sense, thank you for the clarification. Maybe the typical process can be shortened since Tesla has the title the Tesla will want.
Contact info (in case you don't have it):
Tesla Finance Customer Service: (844) 837-5285 (Option 1)

 

[lonsomecrow]

Ah, you meant not from Elon directly, but the loan is directly through Tesla versus them acting as a middleman (mine was routed to Chase).
All makes sense, thank you for the clarification. Maybe the typical process can be shortened since Tesla has the title the Tesla will want.
Contact info (in case you don't have it):
Tesla Finance Customer Service: (844) 837-5285 (Option 1)

Thanks much!

I did call them and they say 4-6 weeks. Horrible!

 

[mongo]

Thanks much!

I did call them and they say 4-6 weeks. Horrible!

Yeah, that seems excessive but could be boilerplate response. I'd thought you were echoing the previous poster's 4 week timing with TD.

 

[Woodrick]

Thanks much!

I did call them and they say 4-6 weeks. Horrible!

Actually, that's pretty much what happens with other manufacturers.

 

[lonsomecrow]

Actually, that's pretty much what happens with other manufacturers.

My last two car title came back in a week.

 

[lonsomecrow]

I went through The Tesla App (Plaid), loan was covered by TD Autofinance. I paid it off on July 5th. Have not yet received the title.

Did you get your title back from Tesla yet? I've paid off 5 weeks ago and still nothing. Tesla Finance is horrible! They told me they requested title from the state 3 weeks ago, I called the state DMV and they are saying they did not receive any request yet and its still under lien holder name. They don't reply to calls and emails are handled by some retard people.

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