I don’t think that they will at all. They didn’t require proof of income for the Tesla loan when we went to pick up our initial RWD order. (Which we ended up rejecting anyways)
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AWD delivery thread
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I don’t think that they will at all. They didn’t require proof of income for the Tesla loan when we went to pick up our initial RWD order. (Which we ended up rejecting anyways)
Fair enough. My comment was more of a general statement after seeing post after post of people saying “called Tesla for the 19th time today”
You own your house outright, no mortgage? Most people need a roof over their head way more than a Tesla. That said, nobody should ever default on a loan but putting up your home? Ballsy!
They sent me an email asking me to unlock all 3. I did, emailed back that I had unlocked all 3 and got approval within the hour. Maybe less, that's just when I checked.
And on that I agree 100% Some PhD candidate will write their Sociology dissertation on social media being the modern day mob mentality, mob rule. This forum is worse than twitter.
I suspect the reason Tesla wants to know who you are financing through is to arrange with and get those details directly with the financial institution.
Brenzo
Member
What about if you live in a paper title state like Illinois and physical title is with lien holder?
In response to a request for timeframe on VIN assignment, my delivery scheduling advisor told me that Tesla is changing the way they assign VINs to where they schedule delivery first then assign a VIN much closer to delivery. If you don’t need a VIN for financing or insurance, just be patient, these guys are BUSY I’m getting email responses like 3-4 days out....
Further, as far as proof of income for financing, I believe if this is required by your lender, that it will be requested prior to your loan approval...
Further, as far as proof of income for financing, I believe if this is required by your lender, that it will be requested prior to your loan approval...
I called Tesla this morning. Only the second time I have ever called. I called because after the email, I corresponded with my DSA and then never received confirmation of my appointment. They reached out to her when I called CS and I got an email from her minutes later:
"Thanks for letting us know your availability! I have scheduled you for 10/1/18 at 9am! Please view your delivery appointment in your delivery profile. (It shows up now) The next steps will be provided by another advisor, please hold your questions/reschedules until then. Thank you and have a great day!"
They have a long list of people to follow up with and I think it's just taking a little time. I had asked about a VIN to get my financing in order, which is why she asked me to hold questions for the next advisor. My car is sold, so I hope delivery comes through as planned. Public transit here isn't very efficient.
"Thanks for letting us know your availability! I have scheduled you for 10/1/18 at 9am! Please view your delivery appointment in your delivery profile. (It shows up now) The next steps will be provided by another advisor, please hold your questions/reschedules until then. Thank you and have a great day!"
They have a long list of people to follow up with and I think it's just taking a little time. I had asked about a VIN to get my financing in order, which is why she asked me to hold questions for the next advisor. My car is sold, so I hope delivery comes through as planned. Public transit here isn't very efficient.
CheekiTiki
Member
In the trade-in window under your order, when it opened, there was a checkbox for lienholder info. Absolutely if you don't legally own the car, you don't have title to the car. So given lienholder info they can work with your bank to get buyout info such that what you owe on your existing car will be added to the cost of the M3 (or S or X or Roadster) and you will pay off your existing car as a function of purchasing the new one.
I've never been asked for proof of income - typically, if your credit score is good enough they don't ask. (or so I've heard) Several leases and purchases through BMW (they never asked), and a lease through Tesla/US Bank (they never asked).
Wow.
Like I said, I called with a bunch of other questions (I'm paying all cash, wanted to verify all the info they needed since I haven't heard from anyone at all). While I had her on the phone I asked for a VIN, because that'd be the only real confirmation I had that a car existed prior to that point.
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Brenzo
Member
I got a copy faxed to me by current bank earlier today and uploaded with the trade-in appraisal (also provided account # for current loan, as well as SSN), so guessing they handle the transfer of title on the backend provided I cover the difference between offer and remaining loan balance.
I think this maybe true. I only had to do proof of income once when I bought my first car at age 22 and not much credit history. I didn't need proof of income on a car purchase 2 years ago andathe current Teslaloan I was just approved for. My score is 800+ though
Deal
Behind the Wheel :)
FWIW In my case the Tesla loan is being handled by a Canadian Bank, if anything further is required I imagine I'll be requested to visit a branch with said information.
Chak
Member
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