Changing from Loan to Cash before delivery?

[Notadog]

I have a Model Y LR on order with a EDD of Sep 2022 (it used to be Apr 2022 but it got delayed). I don't have an assigned VIN yet.

I just got approved for a loan from a Tesla preferred partner (turns out it's Wells Fargo Auto). I asked a service rep if it's possible for me to switch back to a Cash option if I want prior to delivery. She said yes. However, before I acknowledged the terms of the loan, above the 'Confirm' button, I see the following text:

By confirming, I acknowledge that I am accepting my terms with Wells Fargo Auto and I will be unable to change my payment method.

Does this mean that I can still change to a Cash option later?

Thanks.

 

[RocY]

Honestly, I would change to cash now. The loan agreements are only good for 90(?) days, and then they expire and you need to renew it, which means another credit pull (and your order going into limbo until it’s resolved). So, I recommend doing cash for now and switching to financing if you need to once you get your VIN.

 

[SilentWarp]

I have a Model Y LR on order with a EDD of Sep 2022 (it used to be Apr 2022 but it got delayed). I don't have an assigned VIN yet.

I just got approved for a loan from a Tesla preferred partner (turns out it's Wells Fargo Auto). I asked a service rep if it's possible for me to switch back to a Cash option if I want prior to delivery. She said yes. However, before I acknowledged the terms of the loan, above the 'Confirm' button, I see the following text:



Does this mean that I can still change to a Cash option later?

Thanks.

Of course you can change your payment option up to a few days prior to pick up. Give them and yourself some time to make arrangements and change the paperwork. By the way, changing financing to your own is not a 'cash deal' to Tesla. Depending on the state, Tesla still needs to know the finance company you chose so they can put the name on the title application as a lien holder (Florida), and to ensure they get paid by the new finance company.

 

[mservoss]

Of course you can change your payment option up to a few days prior to pick up. Give them and yourself some time to make arrangements and change the paperwork. By the way, changing financing to your own is not a 'cash deal' to Tesla. Depending on the state, Tesla still needs to know the finance company you chose so they can put the name on the title application as a lien holder (Florida), and to ensure they get paid by the new finance company.

How do I edit my payment method from cash to finance? There is no option in the app, it says I have chosen to pay in full, no edit button

 

[SilentWarp]

How do I edit my payment method from cash to finance? There is no option in the app, it says I have chosen to pay in full, no edit button

You can contact them to make that change, however since you are a longs ways off, don't change to finance yet. If you do, they will run your credit and in 60 days, the credit check will expire before you get your car. Then a new credit check will be needed. Instead, switch to finance the moment you get your VIN. You will have enough time to get the credit squared away.

 

[mservoss]

You can contact them to make that change, however since you are a longs ways off, don't change to finance yet. If you do, they will run your credit and in 60 days, the credit check will expire before you get your car. Then a new credit check will be needed. Instead, switch to finance the moment you get your VIN. You will have enough time to get the credit squared away.

I'm sorry I wasn't more clear about my situation, I pick up on Friday! Finally got it changed, now waiting for it to update, so I can send my CU the final price (MVCA) to finance and get the check! Talk about last minute.....
Master Vehicle Contract Agreement

 

[Arcaj]

I'm sorry I wasn't more clear about my situation, I pick up on Friday! Finally got it changed, now waiting for it to update, so I can send my CU the final price (MVCA) to finance and get the check! Talk about last minute.....
Master Vehicle Contract Agreement

What CU did you choose?? I’m located in SP too, crazy!