Financing Tesla vehicles in Canada

[mknox]

They typically lowball their own brand more than anything else.

Perhaps, but the trade in value on the ICE I traded in on the S back in 2013 was also very low.

I think they do this for two reasons. If they take Tesla trades they don’t wholesale them out. They have all the admin internally to sell it used. Plus having a bunch of Tesla trades reselling on the used section of their website cuts into new Tesla sales.

My trade was 5 years old with 160,000 km. Very clean and well maintained car, but still pretty old. Tesla told me they would put $20k into it and sell it as a CPO which I don't believe for a minute. First of all, I don't know what they could possibly spend $20k on and second of all, I've never seen Tesla or any dealer sell a car that old with that high mileage used, let alone CPO. They would simply wholesale it. Nonetheless, I got more than double the trade in offer by selling myself.

 

[SmartElectric]

Looking to do the same as @mknox , sell my 2013 S85 privately.
2013 Tesla Model S85 (Toronto, Canada) extended warranty
Tesla trade in offer was not a low as his, but still lower than I can get privately by a large margin.

 

[mknox]

Tesla trade in offer was not a low as his, but still lower than I can get privately by a large margin.

Probably because of the lower mileage and the fact that some of the bumper-to-bumper warranty remains.

 

[M109Rider]

This may be a question someone answered already, but I didn’t see it asked from what I’ve read.
Does anyone know if Tesla Financing will take the $14,000 tax credit off the finance price (of a Model 3), or will this not be factored in ?
Thanks
Colin

 

[Tony_YYZ]

This may be a question someone answered already, but I didn’t see it asked from what I’ve read.
Does anyone know if Tesla Financing will take the $14,000 tax credit off the finance price (of a Model 3), or will this not be factored in ?
Thanks
Colin

They 100% will not. They will ask for the full amount and you will have to file for the rebate afterwards.

 

[M109Rider]

They 100% will not. They will ask for the full amount and you will have to file for the rebate afterwards.

Okay. Thanks for the help.

 

[RapTelligence]

I was speaking to Tesla and she said they were in the process of arranging financing for Canada. I thought that was in place.

 

[mknox]

I was speaking to Tesla and she said they were in the process of arranging financing for Canada. I thought that was in place.

Good grief! Tesla arranged my financing in February 2013 and March 2018. Of course its already in place! Tesla really seems to have trouble communicating the correct message at times.

 

[Vawlkus]

Probably need to renegotiate it yearly for now.

 

[TorqueIt]

My order is in for the model 3 and planning to go through Tesla arranged financing. Is there anything out there better than the 4% tesla is offering?

My secured LOC is at least 4% right now so leaning towards going with Tesla for convenience.

 

[03DSG]

My order is in for the model 3 and planning to go through Tesla arranged financing. Is there anything out there better than the 4% tesla is offering?

My secured LOC is at least 4% right now so leaning towards going with Tesla for convenience.

Plus a Tesla financing rate will be locked and most LOC/HELOC interest rates float. The market is expecting interest rate increases this year. Possible 2.

 

[pmich80]

Plus a Tesla financing rate will be locked and most LOC/HELOC interest rates float. The market is expecting interest rate increases this year. Possible 2.

So basically HELOC should be out of the question, only a car loan from a financial institution or Tesla should be considered I guess.
Anyone beat Tesla's 3.9 yet?

 

[vidya_sagar]

3.9% is the best and latest I heard from anyone in Canada. But Tesla inside sales told me that they dot want to commit to any % as it changes too frequently. so I doubt if Tesla still holds 3.9% by the time Canadians receive VIN numbers.

 

[03DSG]

3.9% is the best and latest I heard from anyone in Canada. But Tesla inside sales told me that they dot want to commit to any % as it changes too frequently. so I doubt if Tesla still holds 3.9% by the time Canadians receive VIN numbers.

Why not? Bank of Canada held interest rates status quo last meeting. Inflation is low. They will go up but not in the short term. And when they do it will a quarter point. Personally I believe anyone taking delivery in the next few months will finance at the current rates. Just my opinion.

 

[jev117]

Hey guys, for those of you in BC: Its really unfortunate the the BC Scrap It program says "All of the Tesla Model 3 incentives for 2018 have been claimed. We do not have any more $6,000 incentives for the model 3 available."

Does anyone know if this program would reinstate another quota for 2019? I just got my invite now, and I dont know what to do. I'm also wondering if the CEV 5000 rebate will still be available by 2019. Or if I should just grab the 5000 now and order the car.

 

[Kira]

Hey guys, for those of you in BC: Its really unfortunate the the BC Scrap It program says "All of the Tesla Model 3 incentives for 2018 have been claimed. We do not have any more $6,000 incentives for the model 3 available."

Does anyone know if this program would reinstate another quota for 2019? I just got my invite now, and I dont know what to do. I'm also wondering if the CEV 5000 rebate will still be available by 2019. Or if I should just grab the 5000 now and order the car.

Assuming they offer it the same way again in 2019, it's my understanding that each dealership/Tesla sales centre only gets 10 Scrap It rebates per year. Up to you in terms of whether or not you'd want to take the gamble of being one of the lucky 10.

 

[jev117]

Assuming they offer it the same way again in 2019, it's my understanding that each dealership/Tesla sales centre only gets 10 Scrap It rebates per year. Up to you in terms of whether or not you'd want to take the gamble of being one of the lucky 10.

Hmm. What do you personally think about the CEV rebate? Think it will dry up by 2019?

 

[Kira]

Hmm. What do you personally think about the CEV rebate? Think it will dry up by 2019?

I hope not but will leave it to others to speculate on in detail, as I tend to be an eternal optimist (thankfully I married an accountant!)

 

[jev117]

I hope not but will leave it to others to speculate on in detail, as I tend to be an eternal optimist (thankfully I married an accountant!)

Hahah right on. So you're holding onto your invite as well?

 

[Kira]

Hahah right on. So you're holding onto your invite as well?

No, I configured this week - we just figured it was not worth waiting until next year when only 10 rebates are available. It would’ve been great to scrap our ICE vehicle but we’ll try to sell it privately instead.