Resale Value Guarantee FAQ
Tesla Motors Hong Kong Pty Ltd hereafter referred to as Tesla
What is the Resale Value Guarantee (RVG)?
Tesla's Resale Value Guarantee offers a guaranteed resale value specified at the time of delivery, which is amongst the highest of any premium vehicle. The RVG program was available to eligible customers between April 2015 and March 2017 who financed with Tesla's preferred financier, ORIX.
The value was calculated as a percentage of the vehicle price (including options) and determined by the term and mileage allowance chosen when executing the financing contract with ORIX.
Is the financing company backing the RVG?
The RVG is an agreement between Tesla and the vehicle's original owner, based on your contract with the financing company. You will at all times remain responsible for all of the obligations and liabilities under your financing contract.
What are the stipulations for a loan contract?
To originally qualify for the RVG, you must've financed a minimum of 60% of the vehicle (on approved contracts) for a term between 36 and 72 months. To exercise the RVG, the loan must remain open and in good standing for the full duration of the loan contract.
Can I pay off my loan early?
If you choose to pay off your loan early, you may do so, but the RVG contract with Tesla will no longer be applicable. To exercise your RVG, your finance contract must remain open and in good standing for the duration of the finance contract.
How will the proceeds of the RVG be applied?
Once you've exercised the RVG, proceeds must be first applied towards any outstanding balance on your financing contract. If, after payment of the RVG to the financing company, an amount remains outstanding on your financing contract, you will be required to pay this outstanding amount in accordance with your financing contract using your own funds.
If the proceeds from the RVG are in excess of the amount required to pay the outstanding balance under your financing contract to the financing company, then Tesla will pay the excess amount to you.
What are the mileage limitations on the RVG?
The RVG was available for a period of 36 months and annual mileage of 15,000km (orders placed between 1st April 2015 and 1st September 2015 qualified for 12,000km). The RVG allowed for a maximum of up to 36,000 or 45,000 kilometres over 36 months, dependent on order date, with a $3.00 excess charge for each kilometre over your chosen mileage allowance.
What service requirements must be upheld during the term of my loan?
It's required your vehicle is serviced appropriately throughout the entire term of ownership to ensure your vehicle remains eligible upon your final inspection. An Annual Service must be performed by a Tesla Service Centre every 12 months or 20,000km, whichever comes first.
You can book an Annual Service by contacting your local Tesla Service Centre.
When can I return my Tesla vehicle?
You must bring your vehicle in to an authorized Tesla Service Centre for an inspection any time during the last month of your RVG term and return your vehicle to Tesla at any time during the month following the end of your RVG contract term to obtain the assured price. You can book your RVG Inspection time by contacting your local Customer Support via +852 3974 0251.
How do you adjust for any excess wear and tear on my Tesla vehicle?
Tesla will perform an inspection and adjust the assured price if we identify abnormal wear and tear or damage.
Is the RVG transferable if I sell my car?
The RVG is an agreement between Tesla and the original registered owner only and therefore cannot be transferred to a second owner.
Where can I find my Tesla RVG Agreement?
Your RVG Agreement was uploaded to your Tesla Account after final delivery of your vehicle. If you cannot locate your agreement, please contact your local Customer Support via +852 3974 0251.