EST Loan Query - when can I take delivery?

[longmalx]

Tesla tell me I can take delivery of the car and use EST loan if that occurs after the initial acceptance, as long as I can cover the loan amount for a month or so.

Reading the EST blurb that appears to be correct. Have others done this without issue?

I’ve just been allocated a car and no delivery yet. Submitted loan application 3 days ago so probably 2-3 weeks till I get acceptance.

 

[Coinneach Cìr]

You should be fine, I borrowed money from family for about two weeks until EST funds reached me for an Ioniq I purchased in 2018.

 

[longmalx]

You should be fine, I borrowed money from family for about two weeks until EST funds reached me for an Ioniq I purchased in 2018.

Thanks

 

[Avendit]

I did something similar. Unless the terms have updated you aren't suppos d to, but even doing it the official way of letting them know was signed off by a manager in 5 mins. Nice to see some bits of the EST taking a pragmatic and sensible approach.

 

[Alistairuk]

When I did it the requirement was you had to have been accepted for the loan before you paid anything other than a deposit - after you’ve been accepted you can do whatever you want.

I had to postpone my end of June delivery as the loan hadn’t been accepted yet, but then ended up using savings to pay the invoice for my September delivery as EST took ages to send the cash to my bank account after I sent them the invoice! (This was last year and in the middle of the pandemic mess)

 

[longmalx]

Good to know and sets my mind at ease! Thanks.

 

[Katic1972]

When a new model comes out, like the ModelY is there a lag as to when this comes onto the approved list of qualifying cars? Hoping to order up a MY but obvs it’s not on the list yet.

 

[Avendit]

There must be some lag, but unless you get one of the first off the boat you should be fine. I was in the pre-order queue for the M3 and it was pretty old hat by the time I got to pay for mine. They should add them when they become available to order, and you don't need the loan in place untill you pay the final bill.

The bigger problem is more just the short timelines between final paperwork from Tesla and picking up the car which the EST back then really struggled with. Managers can sign off the variations in timings needed tho, so it's all fine, just call them when you run into Tesla Vs gov organisation timeline problems.

 

[Katic1972]

^^^ if the MYs don’t land until mid 22 then I’ll be going M3 anyway.

 

[Avendit]

I did see another thread suggesting there may have been some internal comms on the Y's on the 1st, no update tho. I'm happy with my 3 (although I would retrofit the hatch from the Y if I could), but I do know -loads- of people that want the SUV-ness or the hatch and extra load space of the Y. Its going to be massive when it does land.