About to place an order

[MWMiller]

Hi all
I've been waiting a few years to make the leap and buy a Model S and now (literally this month) the financial stars have aligned properly. I've been reading lots of posts and I really appreciate the loads of great information everyone contributes to these forums.

Now that I'm nearly ready to hit the order button for a 100D, I wanted to seek out some final advice. I have no doubts about many of the fundamental options (e.g. new vs. CPO, battery size, P or not etc.) but still have few specific questions and areas of confusion:

• Does Tesla offer financing directly and if so is it comparable to what is available elsewhere?
• I don't need to finance but at the right rate I'd do it simply because I could earn more by keeping the funds invested over that period of time. Are there other pros/cons to financing for a Tesla specifically that I may be missing or not understanding?
• I've read that you can't put roof racks on with the glass roof - must have the sun roof option - is that really true even of 3rd party racks (I use Thule on other vehicles)?
• Is the unlimited super-charging benefit (based on referral code) really going away end of this month?
• Anything else I might be missing or should make sure to consider before making an order?

Thanks in advance for your thoughts and advice!

 

[carbonx]

• Hi all
  I've been waiting a few years to make the leap and buy a Model S and now (literally this month) the financial stars have aligned properly. I've been reading lots of posts and I really appreciate the loads of great information everyone contributes to these forums.
  
  Now that I'm nearly ready to hit the order button for a 100D, I wanted to seek out some final advice. I have no doubts about many of the fundamental options (e.g. new vs. CPO, battery size, P or not etc.) but still have few specific questions and areas of confusion:
  

  • Does Tesla offer financing directly and if so is it comparable to what is available elsewhere?
  • I don't need to finance but at the right rate I'd do it simply because I could earn more by keeping the funds invested over that period of time. Are there other pros/cons to financing for a Tesla specifically that I may be missing or not understanding?
  • I've read that you can't put roof racks on with the glass roof - must have the sun roof option - is that really true even of 3rd party racks (I use Thule on other vehicles)?
  • Is the unlimited super-charging benefit (based on referral code) really going away end of this month?
  • Anything else I might be missing or should make sure to consider before making an order?

  Thanks in advance for your thoughts and advice!

Welcome MNMiller!

Tesla offers their own financing backed by a partner bank. Sounds like some people are getting fairly competitive rates below 2%. I financed and it was very easy, just a few extra details you need to fill out in your account info and you can always decide to forgo it or look for your own rate if you don't like the rate. Not too much downside financing at a low rate or even financing just half.

Looks like you need to pano roof in order to have racking ports. Maybe 3rd party suction cups or straps would work but if this is a need the racks, upgrade to pano.

Unlimited supercharging expired January 31st 2018. No one knows if they will renew the program or not but it seems to be a good time to buy anyway with the federal credit set to phase out Q2 or Q3 this year.

Also, PM'ed you in case you needed a code

 

[dcmetro]

Welcome @MWMiller. 100D financing is at 1.49 right now with Tesla, which is better than what most banks offer. However, if you're a member with a credit union, that's about the only place that could even beat that rate.
As for unlimited charging, as per 'current' news, it ends Jan 31st. Who knows if they extend it or not. Thus I recently ordered too. Good luck with your decision!

 

[SaveOurPlanet]

Rate of return on current market condition even with management fees is still quite a lot better than financing even with Tesla hiking to 2.49 since a week or so ago. I had a conversation with my financial advisor this morning and we agreed that financing is the way to go, but should look out for opportunity to pay down the loan within a year or two or three whenever possible, like do a little profit taking as long as the tax situation is favorable. Keep in mind that the Fed could do another hike after the first quarter and everyone will jump to adjust, it takes at least one to two months before you will get a car, so you should order now unless you are not sure if you want a Tesla. When I started looking in October, Tesla financing was 0.99, then when I confirmed my order in December, Tesla financing jumped to 1.49, while I am now still waiting for a delivery schedule, Tesla again adjusted the rate to 2.49. I think you should do it now or wait till 2019 when you will probably have a lot more options as far as EV goes.

 

[dcmetro]

Rate of return on current market condition even with management fees is still quite a lot better than financing even with Tesla hiking to 2.49 since a week or so ago. I had a conversation with my financial advisor this morning and we agreed that financing is the way to go, but should look out for opportunity to pay down the loan within a year or two or three whenever possible, like do a little profit taking as long as the tax situation is favorable. Keep in mind that the Fed could do another hike after the first quarter and everyone will jump to adjust, it takes at least one to two months before you will get a car, so you should order now unless you are not sure if you want a Tesla. When I started looking in October, Tesla financing was 0.99, then when I confirmed my order in December, Tesla financing jumped to 1.49, while I am now still waiting for a delivery schedule, Tesla again adjusted the rate to 2.49. I think you should do it now or wait till 2019 when you will probably have a lot more options as far as EV goes.

Its 2.49 for 75D but 1.49 for 100D. Clearly, they're hoping folks buy the 100D. Once rate is locked, it's fixed at what you locked...shouldn't matter of fed raises rates.

 

[MWMiller]

@carbonx, @dcmetro, @SaveOurPlanet - thanks for the information and advice - much appreciated.

I'm definitely locked in purchasing an EV and Tesla as the choice (have been planning this for several years). It has been just a matter of checking a few final specifics and exact timing. So, thanks to your quick responses, I'm going to go ahead with the 100D order with financing. At a rate of 3% or less (1.49 would be great) it pencils out favorably.

Hoping the estimated delivery in March stays on track!

 

[carbonx]

low

Congrats NWMiller! Excited for you

 

[dcmetro]

@carbonx, @dcmetro, @SaveOurPlanet - thanks for the information and advice - much appreciated.

I'm definitely locked in purchasing an EV and Tesla as the choice (have been planning this for several years). It has been just a matter of checking a few final specifics and exact timing. So, thanks to your quick responses, I'm going to go ahead with the 100D order with financing. At a rate of 3% or less (1.49 would be great) it pencils out favorably.

Hoping the estimated delivery in March stays on track!

Super! I IMed you, in case you need a referral code. I'm looking forward to getting mine in March too.

 

[KArnold]

If the free supercharging is important to you, be sure to check if that is ORDERED by the end of the month or DELIVERED by the end of the month. When I ordered, the finance rate at the time was only good if delivered by the EOM, which got very close.

Kevin

 

[carbonx]

If the free supercharging is important to you, be sure to check if that is ORDERED by the end of the month or DELIVERED by the end of the month. When I ordered, the finance rate at the time was only good if delivered by the EOM, which got very close.

Kevin

This is not true, you just need to get your order in by 1/31

 

[MWMiller]

I think I'm covered - the free super charging is clearly listed in my order spec.

 

[GTKAZ]

Congrats on taking the step! The only thing I wanted to mention is the glass roof is wider than the pano roof and looks much better imo. Also makes the car feel bigger from the back seat, and somewhat from the front. I also do do not like the bar across the roof for the roof opening mechanics. Just my .02. I also wanted a roof rack option but skis fit fine in the back, and there are suction cup solutions that should work too.

 

[GTKAZ]

Congrats on taking the step! The only thing I wanted to mention is the glass roof is wider than the pano roof and looks much better imo. Also makes the car feel bigger from the back seat, and somewhat from the front. I also do do not like the bar across the roof for the roof opening mechanics. Just my .02. I also wanted a roof rack option but skis fit fine in the back, and there are suction cup solutions that should work too.

Oh, and another benefit is the all glass roof is obviously cheaper, but if I had to pay extra for the glass roof I would have for perspective

 

[MWMiller]

Thanks for the input GTKAZ. I did go with glass roof after all - will just put the snow board in back.

 

[GTKAZ]

Thanks for the input GTKAZ. I did go with glass roof after all - will just put the snow board in back.

Awesome, excited for you!

 

[CBPfromTN]

Welcome @MWMiller. 100D financing is at 1.49 right now with Tesla, which is better than what most banks offer. However, if you're a member with a credit union, that's about the only place that could even beat that rate.
As for unlimited charging, as per 'current' news, it ends Jan 31st. Who knows if they extend it or not. Thus I recently ordered too. Good luck with your decision!

Hi there, dcmetro. I just got my VIN this weekend and was looking at the page where you can "order" and it says currently the financing is 2.49%. I know that when I ordered it said 1.49% but has changed. I am curious about this as hoping I will take delivery soon and obviously would prefer 1.49% to 2.49%. Thoughts?

 

[CBPfromTN]

Rate of return on current market condition even with management fees is still quite a lot better than financing even with Tesla hiking to 2.49 since a week or so ago. I had a conversation with my financial advisor this morning and we agreed that financing is the way to go, but should look out for opportunity to pay down the loan within a year or two or three whenever possible, like do a little profit taking as long as the tax situation is favorable. Keep in mind that the Fed could do another hike after the first quarter and everyone will jump to adjust, it takes at least one to two months before you will get a car, so you should order now unless you are not sure if you want a Tesla. When I started looking in October, Tesla financing was 0.99, then when I confirmed my order in December, Tesla financing jumped to 1.49, while I am now still waiting for a delivery schedule, Tesla again adjusted the rate to 2.49. I think you should do it now or wait till 2019 when you will probably have a lot more options as far as EV goes.

Hi there. I ordered on Dec. 11, 2017 and I also noticed that the rate was 1.49% and now I see 2.49%. I presume I will have to accept the 2.49% even though when I ordered it was 1.49%. I suppose I pay whatever it is when I take delivery. Hopefully it will not go up again before I take delivery. By the way, I got my VIN this weekend!

 

[thx1139]

Friend just called and they are going to get a Model S. They think they will go with 75D. Told them I would check a couple things. Currently are 100kWh batteries installed in teh 75s and just software limited? He is a little more conservative as well with AutoPilot. He says he likes to maintain control so doesnt think he will use (told him he would get over that), but just checking that is something he can add with software update at a later time. Just more expensive of course.

 

[HankLloydRight]

Currently are 100kWh batteries installed in teh 75s and just software limited?

No.

 

[dcmetro]

Hi there. I ordered on Dec. 11, 2017 and I also noticed that the rate was 1.49% and now I see 2.49%. I presume I will have to accept the 2.49% even though when I ordered it was 1.49%. I suppose I pay whatever it is when I take delivery. Hopefully it will not go up again before I take delivery. By the way, I got my VIN this weekend!

Yeah, don't think you have a choice there. For 75D, it's 2.49. Check with a local credit union. Mine is offering at 1.75 at the moment. I just hope it applies to Tesla too. For some reason, some banks have a different rate or do not support Tesla. Like Ally Bank..wonder why.