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jmcclureXPA

Supporting Member
Supporting Member
Jan 7, 2017
19
10
Harrisburg, PA
My X is in transit and Tesla is ready to schedule delivery. I'd like to register the vehicle in my business name and finance it. I haven't had great success getting good options through the delivery specialist who seems more like an order taker...

The lease program does not seem like a good financial decision though it's an "easy" transaction through Tesla. I'm in PA and wondering if anyone else dealt with a similar decision? I am seeing other people use US Bank or others but it seems like Alliant is the only "Tesla" option and they don't offer business loans?

What's the best financial decision for a business purchase?

Thanks ahead of time for any help!
 

jmcclureXPA

Supporting Member
Supporting Member
Jan 7, 2017
19
10
Harrisburg, PA
Just an update... My delivery specialist punted and said to talk further with the credit specialist with Tesla in CA. I shared my frustration and he said they did have a work-around for PA business financing.

I was able to get 1.99% for 72 months through TD Bank with the vehicle registered in the business name but it did require 10% down.
More than I would have liked but the lease was over $10k down too, with a higher monthly payment, a mileage restriction, no depreciation, and you won't receive the full tax credit.

I appreciated the service from the "Regional Credit Specialist" located at Tesla in CA. I'm just surprised that the team at the Philly Tesla store basically told me they don't offer business financing. They said lease, pay cash or come up with your own business financing. Seems like I wouldn't have that unique of a situation and they would be better informed of all options?

Hoping this might help someone in PA/NJ area?
 

Cowby

S E X C R
Jun 2, 2015
605
130
ATL, GA
General rule is if you have a small business, then purchase....if you have a large business, then lease it. Small i'd wager is under 1-2 mil/year.
 

jmcclureXPA

Supporting Member
Supporting Member
Jan 7, 2017
19
10
Harrisburg, PA
General rule is if you have a small business, then purchase....if you have a large business, then lease it. Small i'd wager is under 1-2 mil/year.

Thanks for the response. I know "small business" can be a relative term. We are $5m + with less than 50 employees but I still believe the finance option is a better for us?

Again, thanks for chiming in!
 

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