TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker and becoming a Supporting Member. For more info: Support TMC

Credit Union asking for MSRP

Discussion in 'Model 3: Ordering, Production, Delivery' started by Favy, Apr 26, 2018.

  1. Favy

    Favy Member

    Joined:
    Apr 26, 2018
    Messages:
    5
    Location:
    Texas
    Hello!

    I'm from Houston, Texas and I have a question about financing my Model 3.

    I thought I had all of my financing in order when all of a sudden my credit union asks me for the MSRP for my Model 3. It's the first Tesla they ever finance. Has anyone had this happen to them? If so, how do I get this to them?

    Thank you in advance for your help!
     
  2. gjunky

    gjunky Trifecta: Solar and both cars are EVs

    Joined:
    Mar 26, 2012
    Messages:
    1,208
    Location:
    Scottsdale, AZ
    There is only one price for new Teslas. I would assume the MSRP = Sales Price
     
  3. mekberg

    mekberg Member

    Joined:
    Jan 5, 2015
    Messages:
    422
    Location:
    Madison, Wisconsin
    The Order Agreement in your Tesla account should suffice.
     

    Attached Files:

    • Like x 1
  4. Favy

    Favy Member

    Joined:
    Apr 26, 2018
    Messages:
    5
    Location:
    Texas
    I've sent them the purchase agreement, which has the price, but they are still requesting a MSRP. =/
     
  5. WileyTheMan

    WileyTheMan Peanut Gallery Member

    Joined:
    Apr 20, 2016
    Messages:
    1,001
    Location:
    Los Gatos, CA
    Yup. MSRP is normally a sales term for dealerships, so in this context it's just the price of the car before tax, reg, etc.
     
  6. SabrToothSqrl

    SabrToothSqrl Active Member

    Joined:
    Dec 5, 2014
    Messages:
    3,184
    Location:
    PA
    #6 SabrToothSqrl, Apr 26, 2018
    Last edited: Apr 26, 2018
    Had to jump through several hoops on the first AND second Tesla w/PSECU...

    Mine even wanted pictures of the "engine".
     
    • Funny x 3
  7. Favy

    Favy Member

    Joined:
    Apr 26, 2018
    Messages:
    5
    Location:
    Texas
    I'll download that and email to them. Thank you for the advice!!
     
  8. Lloyd

    Lloyd Well-Known Member

    Joined:
    Jan 12, 2011
    Messages:
    6,075
    Location:
    San Luis Obispo, CA
    Tesla is not like other dealerships (stealerships) where the sales price is whatever the salesperson can negotiate with the buyer. MSRP is the same as the sales price. There is no difference. Educate the credit union to be benefits of manufacturer direct.
     
  9. WileyTheMan

    WileyTheMan Peanut Gallery Member

    Joined:
    Apr 20, 2016
    Messages:
    1,001
    Location:
    Los Gatos, CA
    Haha, hilarious. They just need to be educated in that there is no dealership involved. Sounds like you should really call them.
     
  10. gearchruncher

    gearchruncher Member

    Joined:
    Sep 20, 2016
    Messages:
    723
    Location:
    Seattle, WA
    It matters if they want MSRP before or after options. In Washington, we have Taxes based on the MSRP of the base vehicle, and it's unclear what this is on a Model 3, and if the SR vs LR is an "option" or the base car.
     
    • Like x 1
  11. McRat

    McRat Well-Known Member

    Joined:
    Jan 20, 2016
    Messages:
    5,804
    Location:
    LA
    You can pay more than MSRP, less than MSRP, or MSRP for a car.
    All Model 3's are sold for MSRP.

    This is important because it covers their risk. Some cars are sold at more than MSRP, and they are not going to finance that portion.
    Some will only finance a % of MSRP, so cars sold at a discount could have less down required.

    Tesla has sold inventory cars for under MSRP, but not Model 3's.

    This new Tesla is $9,400 under MSRP:

    Inventory Search | Tesla
     
    • Informative x 2
  12. Favy

    Favy Member

    Joined:
    Apr 26, 2018
    Messages:
    5
    Location:
    Texas
    I just received an email basically stating everything everyone said. I'll have to try to educate them on this new process.

    Thank you all for your support. I look forward to posting and helping anyone in need after I wrap this up!
     
  13. MistaEV

    MistaEV Member

    Joined:
    Apr 6, 2018
    Messages:
    87
    Location:
    East Coast
    This is good info to know, thanks for sharing.
     
  14. Favy

    Favy Member

    Joined:
    Apr 26, 2018
    Messages:
    5
    Location:
    Texas
    My credit union isn't able to finance the car because they are paying a loan in California, the MSRP fiasco, bla bla bla. I need to find a credit union in Houston, TX that has dealt with Tesla. I love my state, but we are ridiculously backwards in many ways!

    Does anyone have any clues on where to start?

    Also make sure that you have this figured out as soon as you get your email from Tesla, if you happen to live in a state that doesn't allow a maker to sell directly to the customer.
     
  15. MistaEV

    MistaEV Member

    Joined:
    Apr 6, 2018
    Messages:
    87
    Location:
    East Coast
    Are you a federal employee, contractor working for the federal government, or, do you live with anyone that fits that category? If so, NFCU would be able to help. You do have to be a member and open a savings account with $5 (I forget if they have a monthly/yearly deposit requirement as I have been a member for a LOOOOOOONG time).
     
  16. jsanford

    jsanford Red Model 3

    Joined:
    Apr 27, 2016
    Messages:
    78
    Location:
    Seattle
    Agreed with Mista EV, find a federally-chartered credit union.

    Strange. Fifteen years ago, hybrids were difficult to finance, then when Prius exploded onto the market, lenders were offering discounted rates for hybrids to attract the business. You’d think the industry would have learned from that.
     
    • Like x 1

Share This Page

  • About Us

    Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.
  • Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.


    SUPPORT TMC