Down Payment

[Okkipark]

Has anyone tried paying more or less down payment than what it was stated in your account at the time of delivery? If so, is the financing adjusted on the spot? Or do I have to talk to the bank post delivery?

 

[Pismo]

I was financed through tesla for 90% LTV (Loan to Value) - and responsbile for the other 10% plus fees/taxes. However here in WA, we have 10.5% tax, plus a state transport fee of approx $1000 for a new tesla. So I ended up getting approved for 100% of MVPA.

We decided to finance more up front and pay off in bulk payments, rather than finance low and drop a huge down payment on it.
Ask your OA to talk to Tesla Financing, once you are approved. The rate was .25% more than my own credit union, but it was just easier once it was approved to apply everything to it.

 

[CFrolander]

The rate was .25% more than my own credit union, but it was just easier once it was approved to apply everything to it.

What rate did you get? My CU is offering 3.49%, I see Tesla is saying 4.25% on their site and a bunch of people have reported that Tesla has come in under that lately but nobody really says what rate they're getting.

 

[Pismo]

I am almost certain it was 3.99%.
Either way, I looked at the difference in interest if I stayed the term of the loan, and it was around $600-700, which by the time we pay it off early within 3-4 years, wont make that much.
Tesla made it a simple process, so we stayed with the pre-approved credit amunt.