Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.
Register

Current Delivery Times

This site may earn commission on affiliate links.
When I purchased an inventory Model S in August 2019, I didn't need to provide a down payment. They shipped the car to my local Service Center for free and my whole family went together to inspect it. I paid with a combination of lender check and a personal check. No issues and we drove the new S home.

I am in the same boat this time though, in that I accepted Tesla's financing and am now approved for a better rate through DCU. However, I don't believe we're locked into it, just that we accept the terms and are locking in the rates. I believe this to be true because I had accepted Tesla's trade-in on the Model S, but then AutoNation offered $1,000 more. I texted my SA and he said "no problem, just take the AutoNation offer" because accepting Tesla's trade-in only locks in the amount that Tesla offered, but doesn't lock you into any contract.
@Wolfpacker83, here is what my SA wrote back a moment ago. It is as I expected, you’re not locked into anything:

32FBF147-421A-437D-AED1-413BC0318381.jpeg
 
Lol, my trade-in offer from Tesla just expired... I have to take into consideration of the tax advantage in my state wrt to trades. The trade in value reduces you sales tax liability, so a $30K trade is like an extra $1800 I would need if I was to sell to Carvana, Carmax, private seller, etc. In other words, an offer would have to be $31,800 to match the value of trading to Tesla.
 
Hi All - New to the forum. I ordered MY on May 14th and went with the loan option, which was approved with 2.49% for 72 months. 2 questions:

a- Is that a good rate, or should I be searching for a better rate and then try to rate match with Tesla?
b- If there is a change in the payment terms (rate, loan amount or term) will that impact the delivery date?

Thanks
Welcome and congrats on the approval! 2.49% is actually pretty good. You can get better with a Credit Union (assuming you have good credit), but I just think it’s easier to just go with Tesla for now, specially with all the delays. You can always re-finance later. Which bank picked you up? I got 2.49 with US Bank.
 
  • Like
Reactions: Soosh and Emmadiane
Hi All - New to the forum. I ordered MY on May 14th and went with the loan option, which was approved with 2.49% for 72 months. 2 questions:

a- Is that a good rate, or should I be searching for a better rate and then try to rate match with Tesla?
b- If there is a change in the payment terms (rate, loan amount or term) will that impact the delivery date?

Thanks
Generally speaking, yes it's a good rate. Whether it's a good rate for you specifically though can only be answered by you shopping around.

In my area only 2 lenders had better (slightly) advertised rates than Tesla. Yet both ended up coming back with offers slightly higher than the 2.49 I got with Tesla. However a few people have posted on here they found offers in the mid 1%. So really just depends on shopping around your personal credit profile.
 
Hi All - New to the forum. I ordered MY on May 14th and went with the loan option, which was approved with 2.49% for 72 months. 2 questions:

a- Is that a good rate, or should I be searching for a better rate and then try to rate match with Tesla?
b- If there is a change in the payment terms (rate, loan amount or term) will that impact the delivery date?

Thanks
Depends on your credit score. If it’s 780 or above you might want to shop around — you can probably find a better rate.
 
Welcome and congrats on the approval! 2.49% is actually pretty good. You can get better with a Credit Union (assuming you have good credit), but I just think it’s easier to just go with Tesla for now, specially with all the delays. You can always re-finance later. Which bank picked you up? I got 2.49 with US Bank.
Thanks - thats good to know. Wells Fargo Bank is the lender for me.
 
Thanks - thats good to know. Wells Fargo Bank is the lender for me.
I got Wells Fargo too with the same 2.49% rate.. My local Credit Union offers 2.74% as their best, so I'll go with Wells Fargo.. I read that others got 2.49% via Chase.. I actually work for Chase as Software Engineer and as part of employee benefits, they take .25% off the interest rates.. However, when I go to the Chase site and I try to find out what rate they offer, they refer me to the Tesla page.. I used Tesla to apply for my loan and got Wells Fargo instead of Chase.. It's almost like a lottery system on whom you get when you apply via Tesla.
 
Seems like Tesla website is a bit overwhelmed. It took a couple minutes just to get into my account. Otherwise, this morning reservation is still waiting for some update. Seems that it's going to take a while. According to Tesla person at the store, it'll get delivered either in June (assume very late June) or September. :)
 
RNs would likely be random specifically to avoid what's happening here: people inferring order date and/or order count from the sequence of numbers. It's become a pretty common practice in computer systems to ensure that you're not using sequential numbers for public-facing IDs like these so as not to expose that sort of inferable data. If Tesla needs to match the RN to order date, then their database can do that easily without needing sequential RNs
RN are not random, its well documented that they are sequential, they are just sequential across the entire Tesla product line including auto and energy. Hence the reason the numbers only ever go up, and they go up so quickly...
 
  • Like
Reactions: kpfefferle
Sounds more like 2 months ago.. My order number is RN114795xxx. I ordered 6 days after you (4/13).. If this is true and the numbers are sequential, they get over 5000 reservations per day.. Based on that, the guy must have ordered about 3/20 - 3/25 or so...
RN numbers are sequential along the entire Tesla product line including energy products. thats why the numbers increase so rapidly... cars, solar, power walls all of them use the same RN number line