Less than 2 minutes from your app. It’s just clicking next, next with very minimal information. Once this is done then Refi with tower bank.
But good to apply for membership as this takes more times than loan process.
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- Thread starter YNoVA
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But good to apply for membership as this takes more times than loan process.
The document is named as Motor Vehicle Purchase agreement.
It is good to upload more documentation so that loan originator doesn’t come back with queries to you.
Whelp, bad timing since I just got my VIN assigned on a Friday at 4PM. Pickup dates are 1/30-2/1.
My Tower membership still haven't been approved yet, applied last Friday. Already got conditional approval. I guess it's almost impossible to get it approved on time and I'll need to refinance later.
My Tower membership still haven't been approved yet, applied last Friday. Already got conditional approval. I guess it's almost impossible to get it approved on time and I'll need to refinance later.
In this process now. I just got my vin and have my pre-approval letter from Tower. They asked for a notarized POA form. Do I use the one on their resources page? Or is this a form I obtain from Tesla?
I brought a cashier check on day of delivery and handed the check over after my walk through.
Can do the same with a loan check.
Per Tesla: After Taking Delivery | Tesla Support
Purchase documents, including the Motor Vehicle Purchase Agreement, will be available in your Tesla Account after taking delivery. To access them, sign in to your Tesla Account and select ‘Manage’ under the appropriate vehicle. Signed documents will be visible under the ‘Documents’ section. You can also view your signed documents by scanning the QR code with your mobile device.
Macb00kemdanno
Member
What good would that do me when applying for a loan to purchase the car? I.e., I need it before delivery.
Cyclone
Cyclonic Member ((.oO))
If you’ve selected Self Arranged Financing as you payment type, the MVPA will be available on the website (not app) after your VIN has been assigned.
You get it from tower. If you got a text or email where you can sign in and upload docs, you can find the POA form there with your name filled out already.
also, when it says 'Orginal specific POA', does it still mean just upload the scanned POA doc? or send the physical copy to the tower.
Did you put anything down for the account number on the POA? Technically the loan # hasn’t been assigned yet.
Macb00kemdanno
Member
Tower is snail slow (IMHO). I had your train of thought, paid for the Tower Cares bull*** and applied for a membership on 1/18. I heard nothing else until 1/26 when they asked me for a copy of the back of my drivers license. I responded immediately. And yet nothing has happened since, and my member application still says “pending”.
I applied to join Adelfi on 1/19 and was confirmed within a few hours on the same day.
Since my delivery window is approaching, I’m about 99.9% sure that I’m going with Adelfi because Tower is either overextended due to volume or simply incompetent. Neither of which I will tolerate when it comes to service and the need for timely processing with a new loan on a Tesla.
Adelfi is 3.85% for 60 months versus 2.99% for Tower. I guess I could always refinance with Tower later, but I’m not impressed at all so far.
Got ya. Yeah, Adelfi seems like a good back up to have. My window currently is 3/9-3/31, so I figured let me apply now for the membership with Tower and hopefully within the next couple of weeks or month I get approved for the membership.
Similar situation as you. I applied 1/16 for membership and was reviewed 1/20 asking for back of license. Which I did within 30 minutes. Still to this date it’s pending.
Adelfi was good to have as a backup.
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