Collecting Money to Close Out the Quarter?

[Y am I here]

I know this is cynical, but I couldn't help wondering when getting my delivery appointment selected yesterday (for 3/31) if they weren't just trying to collect money on deliveries they probably won't make until after the appointment date. I'm paying cash, and I really don't want to send money in if it's going to get held for 3-4 weeks. With all the uncertainty right now I'm doubting their ability to set up reliable dates for delivery.

I have not been sent the option to pick up the car and drive off after doing everything electronically. I'm calling my local delivery center to see if that email may come once I complete insurance info and payment. I'll update if I find anything out on that.

 

[mswlogo]

Don’t pay until the car is in hand and inspected.
The system will nag to pay ahead, don’t.

This was true before COVID-19 and probably even more true now.

 

[FredMertz]

I know this is cynical, but I couldn't help wondering when getting my delivery appointment selected yesterday (for 3/31) if they weren't just trying to collect money on deliveries they probably won't make until after the appointment date. I'm paying cash, and I really don't want to send money in if it's going to get held for 3-4 weeks. With all the uncertainty right now I'm doubting their ability to set up reliable dates for delivery.

I have not been sent the option to pick up the car and drive off after doing everything electronically. I'm calling my local delivery center to see if that email may come once I complete insurance info and payment. I'll update if I find anything out on that.

Financial reporting does not allow them to report the revenue until it is earned (i.e. the car delivered). Any money they take from you before then actually goes on their books as a liability (unearned income or some such).

 

[Lukez]

I would show up with a check day of.

 

[scherer326]

Don’t pay until the car is in hand and inspected.
The system will nag to pay ahead, don’t.

This was true before COVID-19 and probably even more true now.

I second this DO NOT pay until you inspect the model Y. I know a few states you have to pay all upfront unfortunately but for the remainder states, again DO NOT pay until you see the car and make sure its okay.

 

[gdzirra09]

Financial reporting does not allow them to report the revenue until it is earned (i.e. the car delivered). Any money they take from you before then actually goes on their books as a liability (unearned income or some such).

Correct, but cash deposits still help their cash flow/liquidity.

 

[Y am I here]

Financial reporting does not allow them to report the revenue until it is earned (i.e. the car delivered). Any money they take from you before then actually goes on their books as a liability (unearned income or some such).

That makes sense.