Tesla Trade in – How to Order, Redemption Process and FAQs
Introduction of Tesla Trade in
Tesla Trade in: Tesla was formed in 2003 with a mission to make electric vehicles better, fun and faster so that people aren’t just limited to gas-powered cars but also drive comfortably with electric cars.
It combined electric cars, batteries and renewable energy to make it more powerful.
Tesla makes not only cars but also services and sells fully electric vehicles in Europe, the United States, and China. Most of the profits come from car sales.
Tesla’s Mission: To accelerate the world’s transition to sustainable energy. A group of engineers formed Tesla was in 2003 to prove that people didn’t need to compromise to drive electric – that electric vehicles can be better, quicker, and more fun to drive than gasoline cars.
Tesla Vision: Is an end-to-end computer vision system with NVIDIA’s CUDA, a parallel computing platform by the graphics processing unit (GPU) maker. The software powers the latest generation of Tesla’s Autopilot and self-driving technology.
About Tesla Trade in
- Tesla Trade in showcased its unique quality by configuring its internal assessment with vehicle-specific details. You can upload photos of your vehicle with detailed conditions and your proof of ownership.
- Tesla trade in accepts passenger trucks, cars, vans, and SUVs as part of the trade-in to purchase a new or used Tesla.
- Before delivery, enter your trade-in information in your Tesla Account, then receive a final offer that can apply to your order. You will deliver your trade in vehicle during your delivery appointment.
- Tesla accepts all types of vehicles, despite of age, and its value will be toward purchasing a new or used Tesla.
How to Place Order at Tesla Trade in
The delivery time differs as per the model, location and product availability. You need to create a password and sign to Tesla account once you place the order to check the estimated delivery date and time. You will also receive a confirmation email.
Also Read: Careers in Finance
What are the Vehicles Traded at Tesla Trade in?
Tesla accepts passenger cars, trucks, vans and sport utility vehicles (SUVs) for trade-in value towards purchasing a new or used Tesla. Internal combustion engine and electric vehicles are among it. Tesla does not accept motorcycles, motorhomes or utility vehicles. Undriveable vehicles are also not taken for trade.
Redemption Process of Tesla Trade in
- Receiving a trade-in offer, trade-in details such as your VIN, mileage, zip code and photos must be submitted to your Tesla Account.
- After placing the order and a VIN assigned, a Tesla Advisor will contact you to start the exchange process.
- They will contact you when your Tesla trade in offer is ready for review to deliver at your delivery appointment.
- Any applicable positive equity applies toward purchasing used or new Tesla car.
- If you have negative equity, pay upon delivery or included in your purchase agreement (pending credit approval).
Tesla Trade-in Finance
Yes, you can also avail of finance for your purchase. Submit a credit application with a Tesla Preferred Lender through your Tesla Account after placing your order. Your nominated lender will contact you if further details are required and advise you of any credit decisions. You need to provide proof of the required documents.
You can apply at any time after ordering your vehicle. Credit approvals with Preferred Lenders are valid for ninety days.
To meet the delivery terms of your placed order contract, Tesla recommends that you request a credit within the delivery time frame.
Your Loan Agreement will be available for your signature and sent to you by your designated Tesla Preferred Lender at least 72 hours before your delivery appointment. Tesla requires your loan agreement at least 48 hours before your delivery appointment.
Tesla Trade-in: Frequently Asked Questions
Can I drop off my trade-in vehicle?
All the exchanges must be available at your scheduled delivery appointment. Tesla cannot accept exchanges before or after your scheduled delivery appointment.
Can I deposit my change in another delivery location?
Drop off the exchanges at the drop off location assigned to you at your scheduled drop off appointment.
Who should be present during delivery?
All owners listed on the trade-in vehicle’s title and registration must be present at delivery to sign the trade-in documents. Failure to follow the specified instruction could result in a delivery delay.
Will Tesla report the trade-in sale to state department of motor vehicles?
Tesla does not take responsibility for reporting the Tesla trade in transaction to state Department of Motor Vehicles. You may need to notify your state Department of Motor Vehicles of the pending transaction once your trade in documents are complete.
Can I exchange my vehicle if I am still in the active rental?
The financial institutes below no longer allow third party purchases for their leased vehicles. Restrictions on accepted leased exchanges depend on the lessor. Before placing order, please get in touch with your lender to verify any third party purchase restrictions.
Can I trade in my vehicle if I am still into active financing?
You can surely trade in your vehicle if you are still making finance payments. Tesla will calculate and compare the settlement amount, and any equity (positive or negative) added to your motor vehicle purchase agreement.
If the lender has my title and the vehicle title is WY, MI, MD, MN, MO, NY, MT, OK or KY?
Request a “Letter of Guarantee” if you are actively financing your trade-in and your title from one of these states, from the lien holder to provide to your Tesla trade-in Advisor. It confirms that you do not own the title and delivery can be done.
Will Tesla agree to a trade-in without a vehicle title?
To be eligible for trade-in, Trade in vehicles must be appropriately register in the United States.
Will Tesla accept vehicles from outside the United States?
Tesla does not accept vehicles registered or registered outside of the United States.
Does Tesla accept salvaged or repossessed vehicles?
Non-Tesla vehicles with a salvaged, rebuilt, lemon, junk, recycled, or non-actual (NAM) branded title is eligible for trade-in as long as the vehicle’s title brand completes. The front of your vehicle’s title must show the correct mark, or the car will not be eligible for trade-in.
Tesla vehicles with a Salvage, Rebuilt, Lemon, Scrap, Recycled, or Non-Actual Miles (NAM) title are not eligible for trade-in.
If there is any storage in my vehicle?
Owner has to erase their data and restore it to factory settings before trading in your vehicle. It ensures that your personal information does not exist.
If you are trading in a non-Tesla, please consult your owner’s manual to find out how to delete your data. If you’re selling in a Tesla, tap “Controls” > “Service” > “Factory Reset” on your touchscreen to wipe your data and restore factory settings.
Does Tesla trade in accept trades with a security title?
Non-Tesla trade in vehicles with a warranty title are not eligible for trade-in due to state’s specific requirements of vehicle.
Can I trade in if my name is not on the title?
If you are exchanging a vehicle registered in someone else’s name, you must transfer the vehicle’s title to your name before accepting delivery. Tesla will not get a power of attorney granted instead of legal ownership.
In case I am not satisfied with purchasing my new car, can I return my trade-in vehicle?
You cannot return your Tesla trade in vehicles once the trade-in documents are signed and complete the transaction.
For my new Tesla purchase, can I trade in more than one vehicle?
For a new or used vehicle purchase, Tesla will not accept more than one trade-in vehicle.
It would be a great experience to receive your new Tesla trade in in an easy and fast way. When you opt for the Tesla trade in, make sure you receive the following:
- two keys
- all accessories
- head support
- owner’s manual
- maintenance history
It is suggestible that all risk insurance is active before taking delivery. Most institutions will require an active currency certificate from your insurer before settlement if you are financing.
The final offer is on the information provided by the seller regarding the trade-in vehicle. Therefore the seller understands that all information presented in the Tesla trade-in vehicle must be valid and accurate.
All prior agreements, oral statements, negotiations, communications or representations concerning the Trade-in Vehicle sold under this Agreement supersede this Agreement. Terms related to the purchase of the trade-in vehicle that is not expressly included or incorporated in this document are not binding.