Hi guys,
Thought I'd recount my journey on here in the hope that it may be helpful to anyone out there, if there's anything I've missed or something you'd like more detail on either drop a line below or ping me directly and I'd be happy to share.
Is buying a car now, daft?
If you've got the cash or ability to safely finance, go for it.
Waiting might be sensible however there are plenty of reasons. At least here in the UK we have a grant similar to the US which has been dwindling down over the past 2 years. With covid19 provisions, cuts in some areas are likely ie. the £3000 EV grant.
Personally I work in a profession where the goal is to save money and reduce costs so I feel relatively safe.
What was the buying process like?
I actually did everything on my phone, it took about 10 minutes altogether. Selected the trim and other details of the car, paid the £100 deposit, entered a few lines of personal particulars and applied for the Tesla Loan finance option. I elected to put down a £19,119 deposit taking monthlies on the LR M3 to £450 a month. The Tesla Loan was instantly approved which is weird considering my credit score is the past 2 months has not been that high as I have opened up a new bank and credit card account due to being annoyed with my previous bank's service. The Tesla Loan is either instantly approved or reviewed then manually approved or additional information is sought/verified prior to a loan agreement.
How/Why did you finance the car and at what rate?
I financed the car directly with Tesla's 'Tesla Loan' for 3 big reasons.
1) It's easily and instantly approved without any faff for the vast majority of cases - even for those with a moderate credit score.
2) Easily amendable, if you decide on a different trim level ie. LR or Performance, they will simply change the finance amount keeping the deposit the same, they will also not conduct another hard check. This is my first-hand experience.
3) An APR of 3.99% but more importantly a 0% on overpayments. This means I can easily take a personal loan and pay off the Tesla Loan therefore effectively refinancing my loan saving a nice bit of £$£$. I plan to do this over the coming months as Personal Loan rates so south of 2%.
How long does it take till pickup?
Once the ordering is done and financing approved, you're assigned to a car. Expect delivery/pickup of 1 month from when the order was placed. You then just need to wire the deposit and e-mail a screenshot or proof of transaction to the Tesla finance e-mail a few days prior to pickup/delivery.
That's it folks - do let me know if you have any questions!
If you'd like to use my referral code then just drop me a quick DM and I'd be happy to share.
Thought I'd recount my journey on here in the hope that it may be helpful to anyone out there, if there's anything I've missed or something you'd like more detail on either drop a line below or ping me directly and I'd be happy to share.
Is buying a car now, daft?
If you've got the cash or ability to safely finance, go for it.
Waiting might be sensible however there are plenty of reasons. At least here in the UK we have a grant similar to the US which has been dwindling down over the past 2 years. With covid19 provisions, cuts in some areas are likely ie. the £3000 EV grant.
Personally I work in a profession where the goal is to save money and reduce costs so I feel relatively safe.
What was the buying process like?
I actually did everything on my phone, it took about 10 minutes altogether. Selected the trim and other details of the car, paid the £100 deposit, entered a few lines of personal particulars and applied for the Tesla Loan finance option. I elected to put down a £19,119 deposit taking monthlies on the LR M3 to £450 a month. The Tesla Loan was instantly approved which is weird considering my credit score is the past 2 months has not been that high as I have opened up a new bank and credit card account due to being annoyed with my previous bank's service. The Tesla Loan is either instantly approved or reviewed then manually approved or additional information is sought/verified prior to a loan agreement.
How/Why did you finance the car and at what rate?
I financed the car directly with Tesla's 'Tesla Loan' for 3 big reasons.
1) It's easily and instantly approved without any faff for the vast majority of cases - even for those with a moderate credit score.
2) Easily amendable, if you decide on a different trim level ie. LR or Performance, they will simply change the finance amount keeping the deposit the same, they will also not conduct another hard check. This is my first-hand experience.
3) An APR of 3.99% but more importantly a 0% on overpayments. This means I can easily take a personal loan and pay off the Tesla Loan therefore effectively refinancing my loan saving a nice bit of £$£$. I plan to do this over the coming months as Personal Loan rates so south of 2%.
How long does it take till pickup?
Once the ordering is done and financing approved, you're assigned to a car. Expect delivery/pickup of 1 month from when the order was placed. You then just need to wire the deposit and e-mail a screenshot or proof of transaction to the Tesla finance e-mail a few days prior to pickup/delivery.
That's it folks - do let me know if you have any questions!
If you'd like to use my referral code then just drop me a quick DM and I'd be happy to share.
