Hi folks. First time post here.
I’ve applied for the loan myself for a model 3. Has anybody had success with it this year? How did you find the process?
I’m slightly worried it’ll take forever as I applied 2 weeks ago and not had any response yet other than the automated acknowledgement. I also provided the cost of the model I intend to buy as the price quoted to me from Tesla but asked for the loan only to cover the completely standard model as they say the loan is only available for the standard configuration (white, black interior, etc). I’m hoping this doesn’t confuse matters!
I also hear this loan runs out annually depending on the uptake. I imagine with UK deliveries coming in frequently now the uptake might be quite high...
I applied on July 1st. Process was fine. Not much communication, and nothing happened until about the 14th working day - bear that in mind. It’s 15 working day, not 15 days. You’ll be waiting 3 weeks for a reply.
You should include the order confirmation which will have the full price. The standard Model 3 is more than the £35k anyway, so it doesn’t really matter.
My understanding is that the money has never run out in any year so far. That’s not to say it won’t this year or in a future year, but hopefully you’ll be OK.
I tracked this obsessively, checking the portal for any status changes religiously. If you’re interested in my detailed timeline of changes, let me know.
One interesting nugget of information - they use TransUnion as their credit reference agency, and you can check your credit file with them for free using Credit Karma. I have a friend who applied and ultimately got declined. When he checked his report with Credit Karma they were missing his mortgage and current account.