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Financing Tesla vehicles in Canada

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I'm new here and wanted to post something here since I have found the information on this thread useful. I ordered my Model 3 on Friday and got a financing offer from Tesla (Scotiabank) yesterday... it was 96 months at 3.72%. From reading the thread, I see that if the bank rates go down (or up I suppose) prior to delivery that our rate should adjust accordingly. If I get a change in rate, I'll post back here. Thanks for all the useful information here!

Had a email thread ongoing with Tesla and have been told that the rates will be refreshed in April (could go up or could go down) so I have pushed my delivery date out to see what the rates are like next month. I can't see the rates going up with the Coronavirus wrecking havoc on the economy.
 
I'm new here and wanted to post something here since I have found the information on this thread useful. I ordered my Model 3 on Friday and got a financing offer from Tesla (Scotiabank) yesterday... it was 96 months at 3.72%. From reading the thread, I see that if the bank rates go down (or up I suppose) prior to delivery that our rate should adjust accordingly. If I get a change in rate, I'll post back here. Thanks for all the useful information here!
I was originally approved at 3.75 through RBC. After the first rate drop, I emailed Tesla and was given a rate of 3.6%. RBC is supposed to drop their rates again tomorrow, so I will be sending another email. Delivery is supposed to be Mar 24.
 
Had a email thread ongoing with Tesla and have been told that the rates will be refreshed in April (could go up or could go down) so I have pushed my delivery date out to see what the rates are like next month. I can't see the rates going up with the Coronavirus wrecking havoc on the economy.

I wonder how much lower the monthly payments will be. Supposedly all major banks are setting their prime to 2.95 tomorrow (currently 3.45).

I'm tempted to defer too but just don't see it (plus greedy to drive it lol).
 
I emailed tesla today. Just heard back from them. They said Canadian banks have not dropped their rates yet. 3.6 is the best 96 month rate they have. I'm going to try again in s couple days.

Good to know. I just emailed them but I should've waited and checked here first lol. I just got my text asking me to schedule pickup!!!
 
Good to know. I just emailed them but I should've waited and checked here first lol. I just got my text asking me to schedule pickup!!!
Nice!! I also called Tesla today to see if this covid BS is going to affect my pick up. Still scheduled but there will be no orientation. They will bring me the paperwork, to sign with a pen that I must bring, and then they will go back to safety. That's ok, I think I've read /watched enough videos that I've learned enough to get myself home!!! Enjoy the car!!
 
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Nice!! I also called Tesla today to see if this covid BS is going to affect my pick up. Still scheduled but there will be no orientation. They will bring me the paperwork, to sign with a pen that I must bring, and then they will go back to safety. That's ok, I think I've read /watched enough videos that I've learned enough to get myself home!!! Enjoy the car!!
Now I'm strategically thinking of pushing off until Monday in hopes that the rate can get lowered some more :p
 
I was at RBC today and they confirmed their rates have dropped.
Waiting for a call back from a sales advisor today; going to see what the best rate they can offer is and if there are any incentives for inventory stock.

Interesting, in my conversation with my SA yesterday regarding a rate drop, here's what she said:

"The rate is monthly rate so it won’t reflect the lower rate.
It is an open loan so you do have the option of refinancing it at a lower rate in April if the rate keeps being low. "

My loan is with Scotia.
 
"The rate is monthly rate so it won’t reflect the lower rate.
It is an open loan so you do have the option of refinancing it at a lower rate in April if the rate keeps being low. "

That doesn't make sense unless you have a variable rate loan.
I think what he meant to say is they only readjust rates once a month, so maybe if you take possession in April it'll be different.
 
That doesn't make sense unless you have a variable rate loan.
I think what he meant to say is they only readjust rates once a month, so maybe if you take possession in April it'll be different.

I think refinancing your loan just means that you are taking out another loan at a lower interest rate to pay off your current one (if it's higher). I decided to avoid this hassle and push my delivery date to April... now I'm worried that with the Fremont factory downsizing temporarily that the build quality of Model 3s produced in March will be subpar.
 
I think refinancing your loan just means that you are taking out another loan at a lower interest rate to pay off your current one (if it's higher). I decided to avoid this hassle and push my delivery date to April... now I'm worried that with the Fremont factory downsizing temporarily that the build quality of Model 3s produced in March will be subpar.

I was also worried about this so I said **** it and will get it Saturday at 3.6. a further decrease wouldn't have resulted in that much Savings
 
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