Financing Tesla vehicles in Canada

[yv63s]

Basically, Tesla gets your information, then shops around with lenders that service your area, and bring the first positive result back to you. Being a ‘dealer’ Tesla is given slightly better rates than we as consumers get, but it’s still done through banks/credit unions. Rates are generated based on your credit score, and those rates are good for 30-60 days generally (varies by area). After that, the rates have to be recalculated.

Need anything more specific than that? I’m trying to be as general as possible here.

thanks for your answer, I am interested at delivery day if there is something specific you need to bring, maybe a void check from bank and how you can select monthly payment date.

 

[sonrantos]

hi can someone tell me how financing thru Tesla works, for example you've applied for financing and get approved and you approve loan offer.
how then things are done during delivery and how payments will be done

I went through Tesla Financing and got approved with RBC. My SA sent me an email listing everything I need to bring on delivery day. My downpayment as either bank draft or certified cheque and also a void cheque I'm assuming for the bank deductions.

 

[Westaust]

Taking delivery today of my MY LR, rates went up from 2.4% 96 months in march to 2.8% today with RBC

 

[menaknow]

Heard 72 months is 2.3% now. Waiting for my update as I’ve scheduled delivery.

 

[CedT]

Rate go to 2,3 % 72 month BMO, was 2% in march .

 

[menaknow]

Heard 72 months is 2.3% now. Waiting for my update as I’ve scheduled delivery.

Confirmed
Term : 72 months
APR: 2.3 %
RBC

 

[Bertuzzi44]

Has 96 months gone down at all?

 

[sonrantos]

Has 96 months gone down at all?

It's 2.8 for May last I checked. Could change again for June though.

 

[dtl_]

On Pre-order originally financed at 1.9% in March. On delivery today, got 2.3%. Both RBC.

 

[sonrantos]

On Pre-order originally financed at 1.9% in March. On delivery today, got 2.3%. Both RBC.

For how many months?

 

[dtl_]

For how many months?

6 years, 72months I guess?

 

[Leo5513]

Confirmed
Term : 72 months
APR: 2.3 %
RBC

How did you find out? Did you take delivery?

 

[menaknow]

How did you find out? Did you take delivery?

Taking delivery today. Finalized financing yesterday.

Originally had 1.9% approved in March.

According to Tesla SA, the rates are now :

• 2.3% for 12 - 72 months
• 2.8% for higher months

 

[sonrantos]

Does anybody know how long to get a bank draft? Can I just go in my bank (RBC) and walk out with it right away or is there a waiting period?

 

[Super Dave]

If you have enough money in your account for the draft and the fee the bank will issue a draft
right away while you stand at the counter.

 

[sonrantos]

If you have enough money in your account for the draft and the fee the bank will issue a draft
right away while you stand at the counter.

Perfect. Thanks!

 

[menaknow]

Got my bank draft right away at the bank teller. Probably spent more time answering Tesla questions the teller had when she saw the payee was Tesla and got more excited than I was.

(The wait gave me enough time to calm down from the excitement of your wondering... )

 

[Super Dave]

Good stuff !! The people at my RBC branch were all real chatty about the Tesla too.
You probably plan to do this anyway but I will suggest anyway that you hang on tight to the draft
until you are happy with your car. I got mine in March at Vaughan. Minus 15 deg. Fun doing outside
inspection. BRRRRRR. Afterwards, sat in the nice warm car, signed the papers and handed over the draft.
Would love to hear about your experience when you have a chance. Good Luck !!

 

[sonrantos]

Good stuff !! The people at my RBC branch were all real chatty about the Tesla too.
You probably plan to do this anyway but I will suggest anyway that you hang on tight to the draft
until you are happy with your car. I got mine in March at Vaughan. Minus 15 deg. Fun doing outside
inspection. BRRRRRR. Afterwards, sat in the nice warm car, signed the papers and handed over the draft.
Would love to hear about your experience when you have a chance. Good Luck !!

Thanks! I will definitely post something about my pickup experience. Hopefully it comes soon. I still don't have a VIN but my dates has changed to June 1-11 this morning.

 

[menaknow]

Good stuff !! The people at my RBC branch were all real chatty about the Tesla too.
You probably plan to do this anyway but I will suggest anyway that you hang on tight to the draft
until you are happy with your car. I got mine in March at Vaughan. Minus 15 deg. Fun doing outside
inspection. BRRRRRR. Afterwards, sat in the nice warm car, signed the papers and handed over the draft.
Would love to hear about your experience when you have a chance. Good Luck !!

Accepted delivery on Friday. Was pouring rain. I told the rep I’d wait and inspected as much as possible. Just did my final 24 hour inspection and found 2 issues.

Moral of the story feel comfortable with the delivery sonrantos.