Finance extension when swapping from one Tesla to another

[garreth64]

Apologies if this has already been asked, but I couldn't find a thread on it.

My existing PCP for my M3 expires next month in September, so as it stands Black Horse will require a final payment.

My new MY is currently scheduled for Sep 5-30, but still no VIN. Ordered in March (PCP again) and EDD has also been anywhere from May to Sept so not much faith in it same as many others.

I've spoken with Black Horse re my current PCP and as I am going from Tesla to Tesla they can offer me a short term extension to cover any delays. To do this they need my new finance proposal number and suggested i get this from Tesla.

I've now spoken with Tesla, and they told me though my finance has been approved, they haven't generated my proposal yet so they don't have a number and it would be generated nearer the time my car is due. The guy I spoke to was helpful and has said he will look into it and call me back today.

So unless Tesla can provide a finance proposal number, I'm a bit stuck.

Surely, I'm not the first person to be in this position, so has anyone else been here and have Tesla been able to come up with a finance proposal number to enable their existing finance to be extended. If not, what did you do?

The only other option would be to take out separate finance to pay off the balance, and then pay it off when the new car arrives but don't really want to go down this route if possible. I'd rather them just give me my bloody car in September!

 

[Wattsisname]

Apologies if this has already been asked, but I couldn't find a thread on it.

My existing PCP for my M3 expires next month in September, so as it stands Black Horse will require a final payment.

My new MY is currently scheduled for Sep 5-30, but still no VIN. Ordered in March (PCP again) and EDD has also been anywhere from May to Sept so not much faith in it same as many others.

I've spoken with Black Horse re my current PCP and as I am going from Tesla to Tesla they can offer me a short term extension to cover any delays. To do this they need my new finance proposal number and suggested i get this from Tesla.

I've now spoken with Tesla, and they told me though my finance has been approved, they haven't generated my proposal yet so they don't have a number and it would be generated nearer the time my car is due. The guy I spoke to was helpful and has said he will look into it and call me back today.

So unless Tesla can provide a finance proposal number, I'm a bit stuck.

Surely, I'm not the first person to be in this position, so has anyone else been here and have Tesla been able to come up with a finance proposal number to enable their existing finance to be extended. If not, what did you do?

The only other option would be to take out separate finance to pay off the balance, and then pay it off when the new car arrives but don't really want to go down this route if possible. I'd rather them just give me my bloody car in September!

If the car is worth more than the Baloon Payment, would the bank not lend you a " bridge" to cover the ballon until you have sold the car which, by all accounts should not take too long.
Alternatively, give it back on the due date and if the Y is at sea, hire for a week or so.
Or have a sale agreed by for completion on the due date and with a little bit of slight of hand, you should be able to pull it off; use the balance in your fabour to fund a rental for a week or so and the balance for the next PCP deposit.

Of course, the resale value will be affected by mileage and condition,

 

[Wattsisname]

Apologies if this has already been asked, but I couldn't find a thread on it.

My existing PCP for my M3 expires next month in September, so as it stands Black Horse will require a final payment.

My new MY is currently scheduled for Sep 5-30, but still no VIN. Ordered in March (PCP again) and EDD has also been anywhere from May to Sept so not much faith in it same as many others.

I've spoken with Black Horse re my current PCP and as I am going from Tesla to Tesla they can offer me a short term extension to cover any delays. To do this they need my new finance proposal number and suggested i get this from Tesla.

I've now spoken with Tesla, and they told me though my finance has been approved, they haven't generated my proposal yet so they don't have a number and it would be generated nearer the time my car is due. The guy I spoke to was helpful and has said he will look into it and call me back today.

So unless Tesla can provide a finance proposal number, I'm a bit stuck.

Surely, I'm not the first person to be in this position, so has anyone else been here and have Tesla been able to come up with a finance proposal number to enable their existing finance to be extended. If not, what did you do?

The only other option would be to take out separate finance to pay off the balance, and then pay it off when the new car arrives but don't really want to go down this route if possible. I'd rather them just give me my bloody car in September!

So how did it pan out @garreth64 ?

 

[garreth64]

So how did it pan out @garreth64 ?

Bit of a thread resurrection, but as you asked, two things happened:

Firstly, Tesla gave me my VIN and Reg and an early September delivery date so I didn't need to extend the finance in the end.

Secondly, they tanked my final p/x valuation, so i ended up selling it to WBAC (who gave me the best price and was the same as Tesla had originally quoted back in March), so I was without a car for 3 weeks, but got £3-4k more than Tesla were offering, so was happy with that.

As a side note, my old car is still up for sale at Motorpoint two months after I sold it, and the current price is about £3k less than what I was given for it, so used prices have taken a big hit over the last 2 months.

 

[Wattsisname]

Bit of a thread resurrection, but as you asked, two things happened:

Firstly, Tesla gave me my VIN and Reg and an early September delivery date so I didn't need to extend the finance in the end.

Secondly, they tanked my final p/x valuation, so i ended up selling it to WBAC (who gave me the best price and was the same as Tesla had originally quoted back in March), so I was without a car for 3 weeks, but got £3-4k more than Tesla were offering, so was happy with that.

As a side note, my old car is still up for sale at Motorpoint two months after I sold it, and the current price is about £3k less than what I was given for it, so used prices have taken a big hit over the last 2 months.

You did very well, which is not a phrase usually associated with selling a car to a dealer.