Financing Tesla vehicles in Canada

[jkirkwood001]

Tesla sent me their July rates yesterday:

These are way better than what my bank (BMO) has offered. Seems because I don't own a house I get penalized. That's a pain because I choose to rent, have an 899/900 Equifax rating, and own 7-figures in investments.

 

[NoBeard]

... have an 899/900 Equifax rating,

Don't ya just have to wonder what you have to do to get that 900th point?

 

[jkirkwood001]

Wow, that was quick - approved online in 24 hours:

Note that my taxes due is messed up like some others have noticed since the web interface recently changed; Tesla's aware and is in the process of fixing the site.

 

[Taid_87]

Wow, that was quick - approved online in 24 hours:

View attachment 319493

Note that my taxes due is messed up like some others have noticed since the web interface recently changed; Tesla's aware and is in the process of fixing the site.

Did you already received your invite to apply for the financing through Tesla? If you don’t mind me asking, what configuration do you have?

 

[phtp]

Wow, that was quick - approved online in 24 hours

Thanks for sharing. Seems like they are prioritizing the east coast first unless you were a previous Tesla owner?

 

[jkirkwood001]

Did you already received your invite to apply for the financing through Tesla? If you don’t mind me asking, what configuration do you have?

I had committed to pay cash when I ordered June 28th. I inquired about a loan via Tesla the end of last week, got a reply Sunday, and by yesterday was approved. My config is in my tagline (viewable in desktop browser), and more details are in this thread.

 

[jkirkwood001]

Thanks for sharing. Seems like they are prioritizing the east coast first unless you were a previous Tesla owner?

No, not previous owner. Still, I haven't had the promised email order confirmation from the Tesla sales person who called me yesterday, just this financing approved - which is a different interaction - so we'll see just how quick the next steps will actually be!

 

[Koflach]

No, not previous owner. Still, I haven't had the promised email order confirmation from the Tesla sales person who called me yesterday, just this financing approved - which is a different interaction - so we'll see just how quick the next steps will actually be!

well, based on your financing being approved it means you are within 30 days of receiving your car.

 

[knowlan]

Tesla sent me their July rates yesterday:

View attachment 319470

These are way better than what my bank (BMO) has offered. Seems because I don't own a house I get penalized. That's a pain because I choose to rent, have an 899/900 Equifax rating, and own 7-figures in investments.

Ditto for me, but with RBC. The branch said they couldn’t come close to matching the rates (with the same bank!) offered through Tesla.

 

[M109Rider]

Ditto for me, but with RBC. The branch said they couldn’t come close to matching the rates (with the same bank!) offered through Tesla.

I thought Tesla used RBC ?

 

[M109Rider]

I thought Tesla used RBC ?

Never mind. Slow morning for me. I get it now.

 

[akaluana]

I had committed to pay cash when I ordered June 28th. I inquired about a loan via Tesla the end of last week, got a reply Sunday, and by yesterday was approved. My config is in my tagline (viewable in desktop browser), and more details are in this thread.

If you don't mind me asking, how did you inquire? I ordered mine around the same time and would like to know who to get in touch with.

Thanks.

 

[jkirkwood001]

PM'ed you the contact info another user gave me. I Think it was someone from the financing team for Canada

 

[knowlan]

PM'ed you the contact info another user gave me. I Think it was someone from the financing team for Canada

Would you mind PM’ing me that contact info? Thx.

 

[Koflach]

just email [email protected]. It's a shared email address that multiple people will reply to.

 

[knowlan]

just email [email protected]. It's a shared email address that multiple people will reply to.

 

[akaluana]

Got August rates from Tesla:

Its crazy that I got approved within 2 hours of applying online.

 

[Taid_87]

Got August rates from Tesla:
View attachment 323698 Its crazy that I got approved within 2 hours of applying online.

When did you get the invitation to apply for financing and what configuration do you have?

 

[jkirkwood001]

Got August rates from Tesla:
View attachment 323698 Its crazy that I got approved within 2 hours of applying online.

Congrats, @akaluana. Mine was 24 hours. I'm not complaining, but RBC's process is pretty light. I assume they are making the assumption that Tesla buyers are not especially poor risk borrowers.

 

[Taid_87]

Did Tesla let you choose Scotia or RBC during the application process?