Can You Sell a Tesla on Finance in the UK

Can You Sell a Tesla on Finance in the UK?

Yes, you can sell a Tesla that's under finance, but it's crucial to handle the process correctly. Until the finance is fully settled, the finance company retains ownership of the vehicle, making it illegal to sell without their consent. Failing to disclose outstanding finance to a buyer can even be considered fraud.

Step-by-Step Guide to Selling Your Financed Tesla

1. Obtain a Settlement Figure

Contact your finance provider to request a settlement figure. This is the total amount required to pay off your finance agreement, including any early repayment fees. Settlement figures are typically valid for a limited time, so act promptly.

2. Assess Your Equity

• Positive Equity: If your Tesla's market value exceeds the settlement figure, you can sell the car, pay off the finance, and retain the surplus.
• Negative Equity: If the settlement figure is higher than the car's value, you'll need to cover the difference to settle the finance before selling.

3. Choose Your Selling Method

You have two main options:

• Private Sale: You'll need to settle the finance before transferring ownership. This can be complex, as buyers may be hesitant to proceed without clear proof that the finance has been cleared.
• Dealer or Online Platform: Many dealers and platforms like SellTesla.co.uk can handle the settlement process on your behalf, making the transaction much easier.

4. Provide Necessary Documentation

Make sure you have these documents ready:

• V5C logbook
• Proof of settlement figure
• Service history
• MOT certificate
• Spare keys

How SellTesla.co.uk Simplifies the Process

At SellTesla.co.uk, we streamline the sale of your financed Tesla:

1. Instant Valuation: Enter your Tesla's details to get an instant online valuation.
2. Upload Settlement Letter: Securely upload your finance settlement letter through our portal.
3. We Handle the Rest: Our team settles the outstanding finance directly with your provider.
4. Receive Payment: After finance clearance, we pay you the remaining balance instantly.

Final Thoughts

Selling a Tesla with outstanding finance in the UK is absolutely doable. With the right steps and a trusted buyer like SellTesla.co.uk, the process is smooth, transparent, and stress-free. Get your instant valuation today and let us handle the paperwork.

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