mlascano
S Sig #722
Same here. It took me 10 min to fill out the online application last night and today I got this notification from PenFed:
Very easy process.
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- Thread starter chmod a+wrx
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Same here. It took me 10 min to fill out the online application last night and today I got this notification from PenFed:
Very easy process.
Tesla229
Member
I know. I was just wondering how CalEECS got a check from PenFed without a final MVPA. I'm assuming he didn't have a final MVPA, since he mentioned that he didn't yet have a VIN when PenFed sent him the check.
gg_got_a_tesla
Model S: VIN 65513, Model 3: VIN 1913
Yes, CalEECS has been the only outlier in this regard; he got a check without a VIN while the rest of us are going to be waiting on the VIN and then the check. In any case, CalEECS has since picked up his car so, PenFed's a go for Model S!
mlascano, when I reached this stage, I sent PenFed the original MVPA (without the VIN, of course) and they then moved the application along to the point where the approval was finalized and the online portal simply says "Comments: Need VIN" - you may want to take it that far for quicker disbursement of the check once you get the VIN.
mlascano
S Sig #722
Thanks gg, I'll do that. I actually do have my VIN, not on the pre-MVPA though. So I'll include it too with the documents I'll send them.
I'll post an update let you all know if this is good enough.
digitaltim
Sig737 VIN628
My credit union (PBCU) accepted the pre-delivery MVPA along with an updated (but not signed) Configuration sheet that included the VIN. My DS sent the updated sheet when I requested it.
This is just fantastic! I Just got a call from my local credit union Here in Huntington Beach CA. They called to tell me i just was denied my loan for 80k Because they felt the car was "experimental" and they could NOT find enough information, residual values, etc. They weren't even sure what the car would be worth if they had to repo it. Can someone shed some light one this. Perhaps someone that does have lending already. What did their banks have for data? My credit score is perfect 780, I make enough monthly income. They said just not enough info on any of the major car sites. KBB.com etc. I am Signature sport 203. Help me!
gg_got_a_tesla
Model S: VIN 65513, Model 3: VIN 1913
Drop them; you are probably not going to be able to convince them in time. Try one of the lenders who have come through thus far; Pentagon Federal Credit Union (PenFed) or Tech Credit Union (in the Bay Area) or go with Bank of America or Wells Fargo that Tesla's partnering with - see Financing | Tesla Motors
CalEECS
Member
I sent them the pre-sale MVPA and that seemed to make them happy, they sent back the check, promissory note and some other paperwork. I gave the check to Tesla, sent in the paperwork and the first payment, and everything looks ok on the website. They want a copy of the registration showing the lien; let's see if Tesla files the paperwork correctly to get that.
I applied online to Penfed. I will report back with the details. Thank you!
Tesla229
Member
PenFed dropped the ball on me yesterday, due to their inflexible paperwork demands. I finally got so frustrated with them that I told them to forget the whole thing. Called Matt at Tesla Motors Finance Dept., and he stepped up to the plate and took care of everything on the spot! So, now I'm all set to take delivery this Sunday at 10:00! Thanks, Matt, for coming to the rescue at the last minute!
Tesla229
Member
They gave me 3.49% for 60 months, through Wells Fargo. Payment is $70 more per month, but it was worth it, to get rid of the hassle factor. If I get tired of making payments, I'll just pay it off and be done with it.
Thanks, nice to know that Tesla financing is smooth and easy. And not too awful of rates.
mlascano
S Sig #722
An update on my appliction process with PenFed: I sent them a copy and my pre-MVPA, gave them my assigned VIN via email.
The VIN gave them some trouble initially as they had entered in their system that the car was a Roadster 2.5 (I believe up until now only the Roadster shows up in their system under the Tesla brand and they are having to manually switch to Model S each time) and of course the VIN was giving them an error message, but once I clarified via phone that this was a Model S 2012, 4-dr sedan.... all was cleared up, loan approved, check in the mail to me today.
Very easy process and best of all, great rates!
The VIN gave them some trouble initially as they had entered in their system that the car was a Roadster 2.5 (I believe up until now only the Roadster shows up in their system under the Tesla brand and they are having to manually switch to Model S each time) and of course the VIN was giving them an error message, but once I clarified via phone that this was a Model S 2012, 4-dr sedan.... all was cleared up, loan approved, check in the mail to me today.
Very easy process and best of all, great rates!
Ok... Here goes! So i did apply for penfed.. Got approved for 35k. Not enough unless i wanted to come in with more money. I didnt really want to considering the 40k i already put down.They didnt see high loans on my credit other then the houses. I was going to take a private loan out and was 2 seconds to making it happen when I decided to see what Tesla's partner wells fargo would do. Boom all 80k financed at 3.99 percent 60 months. I instead turned the pen fed approval into a credit card with a high limit. Just an fyi. I got a call last week on the 29th of septmeber saying.. not only the car was ready for me. But that it was less than 4 miles away.. at that point all the above went down. I couldnt sleep for 3 days untill i finally made everything happen on thursday. There was no warning it is coming. The "my garage" is not up to date at all. Seriously I cant describe this thing. I seriously almost started to cry when they took me to see it. Ive waited 4 1/2 years for this thing. I ordered it when i was 26. There is NO other car that even compares. NONE.. Here in orange county CA eveyone wants to trade in their Bentleys and Maseratis for this car. I cant wait for the X! Thank you Elon and Team!
You are certainly correct. I havent felt this excitment for anything in a very long time. When i purchased a used ferrari it wasent even half of this. They car is pointed and gawked at by seriously every single person that can see it. Its pure power of the performance is nothing i have ever felt. If someone has been on superman the ride at six flag it even out does that. I find myself driving it around with no place to actually go.. It is a geeks dream come true!
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Oh whoops reservation number is 203 vin is 268.
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Oh whoops reservation number is 203 vin is 268.
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