Finance

Sell your Tesla with outstanding finance

Most Teslas we are asked to value still have an agreement running. PCP and HP are both handled as part of the purchase, provided your lender’s settlement requirements are met.

How it works
White Tesla
01  The process

How settlement works

Five steps, in the order they happen.

  • 01
    Request a settlement figureAsk your lender for a settlement figure. It is usually valid for a set period.
  • 02
    Send it to usWe work from the figure your lender has given you, not an estimate.
  • 03
    Positive equityWhere the valuation is higher than the settlement, the difference is paid to you.
  • 04
    Negative equityWhere it is lower, the shortfall is cleared before the sale completes.
  • 05
    Settlement paid directWe settle with the lender directly, so the agreement closes properly.
  • 06
    DocumentsV5C, photo ID, the settlement letter and your bank details.
02  PCP and HP

The difference, plainly

The mechanics are similar. What differs is what happens at the end of the agreement.

PCP

You have been paying toward part of the car’s value, with a balloon payment at the end. Selling before that point is common and straightforward.

HP

You are paying toward owning the car outright. Once the settlement is cleared, the vehicle is yours to sell.

Either way

The lender owns an interest in the car until settlement is paid. That is why it is paid direct.

03  Questions

Common questions

Straight answers to what Tesla owners actually ask us before selling.

Can I sell my Tesla if I still owe finance on it?
In most cases yes. The finance is settled as part of the purchase and any equity is paid to you.
What if I am in negative equity?
The shortfall has to be cleared before the sale completes. We will set out the position clearly before you decide anything.
How long does a settlement figure last?
Lenders usually give a figure valid for a set period. If it expires we will ask for an updated one.
Do you pay the lender or me?
The settlement goes directly to the lender. Any remaining balance goes to you.
04  In detail

Settlement, equity and who gets paid

The mechanics in full, with the deeper guide for each part.

The settlement figure is what your lender needs to close the agreement today. Ask them for it before anything else — it is usually free, often issued the same day, and valid for a set period. Everything else follows from that number.

Positive equity means the valuation is higher than the settlement, and the difference is paid to you once the lender has been paid. Negative equity means the settlement is higher, and the shortfall has to be cleared before the sale can complete. Neither prevents a sale. If you are in the second position, read selling a Tesla with negative equity, which sets out the options.

The lender is paid directly. That is what formally closes the agreement, rather than leaving it outstanding against your name. Any balance goes to your account afterwards. Keep the lender’s confirmation that the agreement is settled.

PCP and HP work the same way at the point of sale. What differs is where you sit on the balance. PCP payments early in the term cover less than the car is losing, so shortfalls are most common in the first half; hire purchase builds equity more evenly because you are paying toward outright ownership. The detail is in selling a Tesla on PCP and selling a Tesla on HP.

Documents. V5C, photo ID, bank details and the settlement letter. The full list is in documents needed to sell a Tesla, and there is a tickable version in the selling checklist.

Collection and payment. Once settlement is confirmed we arrange collection nationwide, pay the lender and send you any balance. See how WeBuyTeslas works.

This describes the mechanics of selling a vehicle with an agreement outstanding. It is information about the selling process, not financial advice, and we are not financial advisers. Terms vary by lender and agreement — your finance documentation and lender are the authority on your own contract.

Start here

Sell your financed Tesla.

One registration is all we need to begin. Nothing is committed until you say so.

What’s your Tesla worth?Takes about a minute

Type your registration, for example AB23 CDE. We’ll pull up your Tesla and ask the rest.

  • Free valuation
  • No obligation
  • Nationwide collection
  • Finance settlement available

Rather talk it through?

What happens after you submit

  1. 01
    A valuer reviews your TeslaSpecification and condition against current used demand — a person, not a trade book.
  2. 02
    We come back with your figureWe aim to come back the same working day. Ask anything before deciding.
  3. 03
    You decide, and only thenAccept and we book collection, settle any finance and pay you.

Prefer a conversation? .