ACH vs. Cashier's Check

[psyrob]

I'm scheduled to pick up my Red Model 3 this Saturday, and wondered if anyone had trouble using ACH to pay. The ACH button has not shown up in my account yet, and the ISA says it will "a few days before delivery". But I am worried that if it shows up too close to Saturday, the transaction won't go thru by Saturday, and therefore I was thinking it is safer to just bring a cashier's check to pay for the car. I am overthinking it, but with all this waiting I want to control whatever I can to make sure nothing goes wrong when I go to pick up the car.
Anyone have trouble or delays transferring funds using ACH thru their Tesla account?
thanks

 

[jbcarioca]

I used ACH, but also paid three days early to ensure that there were not administrative problems. I always have done that because there are periodic screwups somewhere.

 

[FloridaJohn]

Does the Tesla website allow you to have multiple ACH transactions?

I have my downpayment in two separate accounts and was wondering if I needed to go through the hassle of moving the money into one account or not.

 

[jbcarioca]

Does the Tesla website allow you to have multiple ACH transactions?

I have my downpayment in two separate accounts and was wondering if I needed to go through the hassle of moving the money into one account or not.

Were it me, I'd move the money to make a single transaction with Tesla. Probably unnecessary, but they're growing fast. You'll avoid a risk of error by doing that.

note: Years as an international banker/banking consultant has taught me to avoid anything at all that might constitute an exception. The best outcome is slowing your deal; worst outcome is a mistake somewhere. I have lots of horror stories. They are rare, but they do happen. Make every transaction as simple as possible.

 

[Chris350]

As I await my final invoice (pick up in less than 48 hrs), I will be arriving with a cashiers check.... but will also have info to ACH any additional funds needed.....

 

[ksb467]

you can make multiple payments from different accounts. my delivery is Friday. The ach pay option showed up Monday. Everything going smooth so far. I did call Sunday when Ach pay option had not yet displayed.

 

[ewoodrick]

My account was enabled for payment about 4PM on a Friday. I did the ACH payment and picked up my car on Saturday, the next day.

It is as simple as buying something on Amazon!

 

[RayK]

I did my wire transfer at delivery. Was updated on the final price at the last minute, probably due to my ISA saying she could assist with transferring my existing personalized plates to the 3. If I had brought a cashiers check, I still would of had to do a wire transfer for the balance (they supposedly don't take personal checks or credit cards). If, on the other hand, the cost went DOWN, then I don't know how they would have handled the refund. ACH at delivery seemed the best all around.

 

[shelby]

where does the ACH or payment info show up? I am scheduled for delivery on Sat, and still don't know final amount. Also the Order Agreement is now bringing up blank page.

 

[bhzmark]

just bring a personal check. they will take it. Or they did mine a few months ago.

 

[RayK]

I had intended to do the ACH at the delivery center after speaking to my ISA. Originally I had thought about using a cashiers check but with the fine print in the purchase agreement, I went with the online payment.

I think that the option to pay by ACH should be available in your Tesla account if you want to pay before arriving at the delivery center but I'm of the opinion that doing so could be bad if there's a problem discovered with the car at pickup.

My MVPA link is also showing a blank page. I expected to see a copy of the signed documents as I am planning to apply for rebates and carpool stickers ASAP.

 

[RandyBug]

where does the ACH or payment info show up? I am scheduled for delivery on Sat, and still don't know final amount. Also the Order Agreement is now bringing up blank page.

I’m in the same boat. Pickup on Saturday and still don’t have a final amount either. Got my bank info and about to call my bank to notify them of a transfer of such a large amount since I bank with a smaller credit union.

 

[drawfour]

I'd like to bring in a briefcase full of cash. Anyone know if they'll accept it?

 

[dhanson865]

I'd like to bring in a briefcase full of cash. Anyone know if they'll accept it?

They are (edit: NOT) required by law to accept cash.

The Fed - Is it legal for a business in the United States to refuse cash as a form of payment?

but I'd be surprised if they wouldn't accept it. So long as you don't try to pay with a truck load of coins.

 

[Uncle Paul]

Tesla does not accept cash. Not for a new car, not for service and not even for a Latte at Kettleman barista.

Cash is so Y2K...

Remember, before Tesla, Elon was PayPal.

 

[drawfour]

They are (edit: NOT) required by law to accept cash.

The Fed - Is it legal for a business in the United States to refuse cash as a form of payment?

but I'd be surprised if they wouldn't accept it. So long as you don't try to pay with a truck load of coins.

I know they're not required to accept cash. It's not a debt, it's a transaction. Hence my question as to whether or not they would accept it.

 

[drawfour]

Tesla does not accept cash. Not for a new car, not for service and not even for a Latte at Kettleman barista.

Cash is so Y2K...

Remember, before Tesla, Elon was PayPal.

True, I know he was PayPal. I didn't figure they would accept cash anyway. But I just think it would be cool to bring ~60k in cash in a briefcase. Although I'd probably be sweating a storm until I actually got there and gave it to them.

I did actually pay cash in 100s, 50s, and 20s for a used car from a dealer a while ago, and I confirmed they would accept actual cash in lieu of a check, but it was significantly less than 60k, and we also put the max allowed on credit card to get points.

 

[Reid]

Yeah, I'd worry about it, because I got a call about 12h before delivery asking if I had a check ready for them, and then assuming my bank would let me just ACH xfer money from a loan into Tesla's account with no proof of title or lien or anything. ACH can absolutely take up to 72h though it sounds like from stories here, Tesla's okay with it once it's submitted.

None of the info I was given was true (we're working with your bank! just kidding!), and the purchase agreement says I can pay on the My Tesla page (which I can't, and wouldn't be able to even if there was a link).

They're pretty slammed, I think, so I wouldn't count on them to ensure everything's done properly. Might want to check just to confirm.

 

[RayK]

ACH can absolutely take up to 72h though it sounds like from stories here, Tesla's okay with it once it's submitted.

That was my experience. ACH was submitted when I entered my banking information on the tablet they gave me. Then they handed me the 'keys'. Took 2 days for the transaction to clear my bank.

 

[lairdb]

I did my wire transfer at delivery.
[...]
ACH at delivery seemed the best all around.

Which -- ACH or wire? Very different things.

just bring a personal check. they will take it. Or they did mine a few months ago.

Wonder if this differs by state -- in CA, I was told absolutely positively not; cashiers check (or evidence that one had been sent) or reschedule.