Financing Process w/ 3rd party sale of existing vehicle

[Cybertruck26]

Hey all. I am hoping some of the people that took delivery could help walk us plebs through the whole sales process. My main concern is if Tesla says "hey, your truck is here, you have 3 days to have everything ready". I will not be trading in my MY with Tesla, so will most likely be selling it 3rd party. Can someone possibly give insight as to that process?

Let's say you sell to someplace like Carmax, they give you a check. I assume there will be a waiting period before that check hits your account, so- once you have that down payment (trade in money + cash for down payment), I have to get a cashiers check and present that to Tesla, or is that only if financed through Tesla?

I appreciate any insight, as I usually went through the dealer for trade in and financing. I have tried to Google all this, but I am hoping to get some Cybertruck specific insight.

Thanks in advance.

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[mark555055c]

For most delivery centers, you would present a cashier's check to them on delivery day. Typically you need to upload an image of it prior to delivery though.

For your specific case, if you wait till the CT is available for delivery, it might be a bit tricky to coordinate selling your car and then quickly turning it all around within 3 days. It could work if CarMax or whomever can get you a cashier's check within 1 business day. It also depends if you are paying cash for the rest or financing through a third party.

If you are paying cash, why not just Tesla finance the value of your Model Y and then just instantly pay off the loan when you sell the Y.

If you are financing, then the above works just the same and you can just drop the cash from the Y right on the loan and continue on.

 

[Cybertruck26]

For most delivery centers, you would present a cashier's check to them on delivery day. Typically you need to upload an image of it prior to delivery though.

For your specific case, if you wait till the CT is available for delivery, it might be a bit tricky to coordinate selling your car and then quickly turning it all around within 3 days. It could work if CarMax or whomever can get you a cashier's check within 1 business day. It also depends if you are paying cash for the rest or financing through a third party.

If you are paying cash, why not just Tesla finance the value of your Model Y and then just instantly pay off the loan when you sell the Y.

If you are financing, then the above works just the same and you can just drop the cash from the Y right on the loan and continue on.

Truly appreciate the feedback ?

 

[Woodrick]

Hey all. I am hoping some of the people that took delivery could help walk us plebs through the whole sales process. My main concern is if Tesla says "hey, your truck is here, you have 3 days to have everything ready". I will not be trading in my MY with Tesla, so will most likely be selling it 3rd party. Can someone possibly give insight as to that process?

Let's say you sell to someplace like Carmax, they give you a check. I assume there will be a waiting period before that check hits your account, so- once you have that down payment (trade in money + cash for down payment), I have to get a cashiers check and present that to Tesla, or is that only if financed through Tesla?

I appreciate any insight, as I usually went through the dealer for trade in and financing. I have tried to Google all this, but I am hoping to get some Cybertruck specific insight.

Thanks in advance.

Coordinating the sale of a used car and getting a new one can be problematic in any situation.

• If you don't have a daily need, then get Carmax to pick it up whenever.
• If you have a daily need, with no other options, then you will need to be able to float the difference until the Carmax picks up the car and the check clears.
• If you have to have a car as a daily driver and you can't float the difference, then you will probably need a rental to carry you over.
• If you trade in with Tesla, you drive the old car to the Delivery Center and drive away in your new car.

If you are financing through Tesla, then you will need to setup financing for a specific amount and provide whatever you want as a down payment, i,e. the price of the old car.

If the money is in your account, then you don't need to do a cashier's check, you can direct withdraw. They make it too easy.

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