Energy saving trust loans [Scotland]

[Bobster1967]

What a shambles of a system this is

the amount of forms you have to fill in and scan back is terrible, they never answer the phone as they are all working remotely and take so long to get back to you

don’t know why this can’t be an online system as per bank where I sorted the other loan on an app in 10 mins!

doesn’t help that Tesla are now on the 7th invoice as they keep getting my name wrong!

applied the beginning of July and now have another 10 days to wait as I only received my final invoice today from Tesla

 

[sparkymark75]

What a shambles of a system this is

the amount of forms you have to fill in and scan back is terrible, they never answer the phone as they are all working remotely and take so long to get back to you

don’t know why this can’t be an online system as per bank where I sorted the other loan on an app in 10 mins!

doesn’t help that Tesla are now on the 7th invoice as they keep getting my name wrong!

applied the beginning of July and now have another 10 days to wait as I only received my final invoice today from Tesla

Is this for the interest free loan for purchasing an EV? I've done the grant process for an EV charger and it required you to really follow what they were asking you to do, to the letter. Looked even worse if you were getting a company car or one via a salary sacrifice scheme. I had to chase them for payment as they still hadn't sent it a few days past the deadline.

 

[init6]

don’t know why this can’t be an online system as per bank where I sorted the other loan on an app in 10 mins!

Are the bank not charging interest? If not then there's your answer

 

[Bobster1967]

Are the bank not charging interest? If not then there's your answer

No they are giving me it for free!

if they are serious about pushing more people electric this needs addressed as it’s an awful system

 

[Adopado]

Is this for the interest free loan for purchasing an EV? I've done the grant process for an EV charger and it required you to really follow what they were asking you to do, to the letter. Looked even worse if you were getting a company car or one via a salary sacrifice scheme. I had to chase them for payment as they still hadn't sent it a few days past the deadline.

It's for a car loan ... and in case other people are confused it only applies to Scotland. This is not about charge point grants.

 

[DenkiJidousha]

I went though the Scotland EST interest free loan (still paying it off), and yes - the procress was slow and clunky. That coupled with the way Tesla ships a boat load of cars at a time made the timing more fraught. Still, I probably wouldn't have bought the car without the loan.

 

[Bobster1967]

It's for a car loan ... and in case other people are confused it only applies to Scotland. This is not about charge point grants.

Correct interest free loan paid over 6 years

used to be £50k then £35k and now £28k

 

[Morhydro]

I also got an EST loan. I have to say that the EST team dealt with my application very efficiently. Even when Tesla announced that the car would arrive sooner than planned EST allowed me to pay the invoice and then refunded me later after they had finished processing the loan. Nothing to complain about at all!

 

[Surturminn]

I also got an EST loan. I have to say that the EST team dealt with my application very efficiently. Even when Tesla announced that the car would arrive sooner than planned EST allowed me to pay the invoice and then refunded me later after they had finished processing the loan. Nothing to complain about at all!

Yep, exactly the same scenario as me………..made it by a week or so before they reduced the value as well.

 

[DenkiJidousha]

Likewise - but not everyone is going to be able to fork out the full sum at short notice (even just for a couple of weeks).

It made me wonder how well this would work for EST loans for 2nd EVs - they'd have to be bit quicker.

 

[Morhydro]

Likewise - but not everyone is going to be able to fork out the full sum at short notice (even just for a couple of weeks).

It made me wonder how well this would work for EST loans for 2nd EVs - they'd have to be bit quicker.

Indeed I was in that fortunate position. However I still would not have bought the car without the loan. The issue really as Tesla, having given a delivery date when I paid the £100 deposit they then moved this earlier and would not let me delay collection. I could have cancelled the order but then Tesla was saying 3 further months wait.

 

[Scottish mod3]

Indeed I was in that fortunate position. However I still would not have bought the car without the loan. The issue really as Tesla, having given a delivery date when I paid the £100 deposit they then moved this earlier and would not let me delay collection. I could have cancelled the order but then Tesla was saying 3 further months wait.

I'm thinking of applying for EST , selected cash option when placing my order with Tesla and at the stage waiting for the contract and invoice , expecting delivery date end of September.

If I submit application with EST today , the loan offer potentially reaches me just in time before delivery. Wondered how it works, sorry might be obvious, so if I settle the invoice to take the delivery whilst progressing with EST, does Tesla re issue invoice with refund of my payment and repayment from EST money when the money arrives. Or does EST not care as long as the invoice settled after loan offer received? so I just claim Est monies and procceed with monthly repayment then ?

 

[Morhydro]

EST does not pay Tesla, simply sends the money to the bank account that you have set up your direct debit from. You will need to provide EST with an invoice from Tesla showing the amount paid in full. BUT you should not pay for the car until your EST loan is approved if you can avoid this. If unavoidable then you need to make a special case to EST (as I did) that I was unable to delay delivery without losing my place for a car.

 

[Scottish mod3]

EST does not pay Tesla, simply sends the money to the bank account that you have set up your direct debit from. You will need to provide EST with an invoice from Tesla showing the amount paid in full. BUT you should not pay for the car until your EST loan is approved if you can avoid this. If unavoidable then you need to make a special case to EST (as I did) that I was unable to delay delivery without losing my place for a car.

Thanks, very helpful! Good to know there is leeway if loan takes longer to approve! there I was complaining the car is taking too long to arrive...

 

[longmalx]

I’m mid through EST process and so far it’s much quicker than I’ve seen advertised. It only took about 4 days for EST to approve the loan. After that you can buy the car anytime as long as you can fund the shortfall before the EST funds actually appear.

 

[longmalx]

Edinburgh SC were very helpful re: EST - as soon as my loan was approved they issued the invoice which allows you to start claim the loan.

 

[Alistairuk]

I'm thinking of applying for EST , selected cash option when placing my order with Tesla and at the stage waiting for the contract and invoice , expecting delivery date end of September.

If I submit application with EST today , the loan offer potentially reaches me just in time before delivery. Wondered how it works, sorry might be obvious, so if I settle the invoice to take the delivery whilst progressing with EST, does Tesla re issue invoice with refund of my payment and repayment from EST money when the money arrives. Or does EST not care as long as the invoice settled after loan offer received? so I just claim Est monies and procceed with monthly repayment then ?

You need to submit your application to EST NOW!!!! Attach the Order Confirmation from Tesla as proof of cost, etc. so that EST start processing your application - last June it took them 6 weeks to even look at my application (I got a notification when they did a credit check) and then an hour later I got the offer from them.

Once they "approve your application" and you accept it; you have 3 months (If I remember right) to "claim" the loan, by submitting the Tesla invoice to EST along with the loan claim form. Once you submit the invoice they'll take a few weeks (4 in my case) to pay the cash too you, so you may have to have a backup plan if it doesn't arrive before you need to pay Tesla.

Your last question, as mentioned by Morehydro, Tesla treat it as Cash, where you get that cash from is up to you. EST pay the loan to your bank account - in my case cause they messed around so much and I was at risk of missing another Tesla delivery quarter, I had to pay from my savings and then received the loan a few weeks later.

 

[Sinx]

Submitted my application on 21 August and had it approved today - much quicker than I was expecting.

 

[Sinx]

Sent off my signed paperwork to EST this morning and got my invoice today so sent that off to EST too - waiting to see how quickly the funds will be transferred

 

[Bobster1967]

Sent off my signed paperwork to EST this morning and got my invoice today so sent that off to EST too - waiting to see how quickly the funds will be transferred

It’s a waiting game but glad it’s all done and paid for now