Vehicle loan or lease -- Managing the loan or lease -- Complaint #5084753
Complaint Overview
Complaint ID: 5084753
Company: Tesla, INC.
Product: Vehicle loan or lease
Sub-Product: Lease
Issue: Managing the loan or lease
Sub-Issue: Loan sold or transferred to another company
State: Illinois
ZIP Code: 622XX
Date Received: 2022-01-07T12:00:00-05:00
Date Sent to Company: 2022-01-08T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I ordered a XXXXXXXX Tesla XXXXXXXX XXXX on XX/XX/XXXX. I paid a {$250.00} deposit. I was leasing a XXXX XXXX XXXX, purchased on XX/XX/XXXX. My goal was to trade in the XXXX for the Tesla, which I received approval to do so from XXXX. I received a Trade-In Offer for my XXXX from Tesla for {$29000.00} on XX/XX/XXXX, good for 30 days and no more than XXXX addition miles being added to the vehicle. I had XXXX miles on the vehicle as of XX/XX/XXXX. On XX/XX/XXXX I received an email from Tesla saying that my VIN was available. I received another email on XX/XX/XXXX to schedule my Tesla delivery appointment, to which I scheduled for XX/XX/XXXX. I received a new Trade-In Offer from Tesla on XX/XX/XXXX for {$30000.00}. My payoff quote from XXXX was {$26000.00}, giving me a net trade-in value of {$4200.00}. I took delivery of my new vehicle on XX/XX/XXXX, signing all applicable documents to include the Motor Vehicle Purchase agreement, Delvery Declaration and registration documents. I opted to apply the {$4200.00} towards the loan which is being financed by XXXX. I noticed approximately 2 weeks after I took ownership of the Tesla, my XXXX account was still showing that I had an account balance an a payment would be due. I called and spoke with representative who told me Tesla had not sent them complete payment and still owed nearly {$10000.00}. I asked how much was quoted to Tesla to buy out my vehicle. However the rep refused to disclose this information to me saying he could not tell me that information. He assured me that I would not be responsible for the payment and suggested I speak with Tesla to expedite payment. I immediately called Tesla, where I was told that XXXX gave Tesla a quote of {$26000.00} to buy out my vehicle 's lease. This rep assured me that they sent a total payment. The next day, my account balance was resolved with XXXX. Today, XX/XX/XXXX, I received an email from Tesla 's finance department stating that I had an outstanding shortage amount on my trade-in account for my XXXX XXXX. I was requested to make an immediate payment of {$9900.00} or failure to pay would delay registration and send the account to collections. I have included all applicable documents.
Frequently Asked Questions
What is Complaint #5084753 about?
Complaint #5084753 was filed against Tesla, INC. regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2022-01-07T12:00:00-05:00.
How did Tesla, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against Tesla, INC.?
Yes, visit the Tesla, INC. company profile at readthecomplaint.com/company/tesla-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.