Change configuration / cash to loan after placed order

[theocguy]

Hi there, I am new to Tesla and placed an order on MYLR last week.

While placing an order, I selected Cash option. At what time during the whole waiting journey that i should/can change from cash to loan? Also, at what time would be the latest timeframe to add the tow option?

Thanks

 

[E2B2]

I just did this (Cash to Finance). I did it after I scheduled delivery.

 

[RocY]

I wouldn’t change to financing until you have a VIN. Otherwise, your financing will likely expire and they’ll have to do another credit pull.

You can change your order at any point before you get a VIN, but it will be considered a “new” order, and you may get reshuffled in line. If a pricing change happens between now and when you change it, the pricing will update to the latest pricing. So, just a warning on that.

 

[theocguy]

I just did this (Cash to Finance). I did it after I scheduled delivery.

Thanks. Did you go thru Tesla for financing or thru 3rd party?

 

[E2B2]

Thanks. Did you go thru Tesla for financing or thru 3rd party?

I did Tesla. Ended up with Wells Fargo. The entire process was completed the day I switched. Didn't take long.

 

[theocguy]

I wouldn’t change to financing until you have a VIN. Otherwise, your financing will likely expire and they’ll have to do another credit pull.

You can change your order at any point before you get a VIN, but it will be considered a “new” order, and you may get reshuffled in line. If a pricing change happens between now and when you change it, the pricing will update to the latest pricing. So, just a warning on that.

Thanks RocY. That is what I heard that to wait until I get a VIN and change to financing. Otherwise the loan preapproval might be expired and get another hard pull on credit profile.

IF, highly doubt it, Tesla drops the price, and if I change the configuration, I would get the latest, lower pricing. Is it right too? or get the update to the latest pricing only applies to price increase?

 

[RocY]

Thanks RocY. That is what I heard that to wait until I get a VIN and change to financing. Otherwise the loan preapproval might be expired and get another hard pull on credit profile.

IF, highly doubt it, Tesla drops the price, and if I change the configuration, I would get the latest, lower pricing. Is it right too? or get the update to the latest pricing only applies to price increase?

Yeah, I’d just recommend knowing how you’re going to finance and have that lined up and ready to go! They should be able to move quickly to get everything situated in time, especially if it’s Tesla or another place that’s familiar with Tesla and how they work.

I believe you’d get the price drop if they ever did drop pricing, though I’d imagine that’s a long, long shot!

 

[JP0430]

Thanks. Did you go thru Tesla for financing or thru 3rd party?

I went through Third Party (Navy Federal Credit Union) - 75K, 2.29%, 72months. Tesla financing (through their partnered banks) will only finance the car. You will have to pay all taxes and fee's out of pocket. Just in case you were looking to finance all of it. If you are, leave it as cash and apply to your own credit union or financial institution when you get a VIN.

 

[theocguy]

Yeah, I’d just recommend knowing how you’re going to finance and have that lined up and ready to go! They should be able to move quickly to get everything situated in time, especially if it’s Tesla or another place that’s familiar with Tesla and how they work.

I believe you’d get the price drop if they ever did drop pricing, though I’d imagine that’s a long, long shot!

just wonder, based on your signature, are you still waiting for your MY?

 

[JP0430]

Thanks RocY. That is what I heard that to wait until I get a VIN and change to financing. Otherwise the loan preapproval might be expired and get another hard pull on credit profile.

IF, highly doubt it, Tesla drops the price, and if I change the configuration, I would get the latest, lower pricing. Is it right too? or get the update to the latest pricing only applies to price increase?

You are locked in at the order price, unless you make ANY changes to the configuration, at which point it would update pricing to the new (likely higher price). I would not expect to see a reduction in price for another 2 years, if ever.

 

[RocY]

just wonder, based on your signature, are you still waiting for your MY?

Yes, still waiting. Been slowly getting pushed out, but I think I also have a somewhat unicorn build. Another reason not to choose financing yet - your EDD will likely change! And generally not for the better…