Financing Tesla vehicles in Canada

[Anto]

How long is the term?

I got 8-yr (96 months)

 

[Koflach]

the rate increase equates to about $4-$5/month more

 

[deltav]

This is what I got for my rate, 4.54% on June 7th. Sadly they went up because we waited too long.

Which bank?

 

[Anto]

Which bank?

It's with RBC through Tesla

 

[McDMan]

Is anyone just using their Home Equity Line of credit (HELOC) to finance their car purchase. I'm with TD and current variable rate in prime +.50% or 3.95%.

 

[bundy3]

For anyone keeping track it looks like interest rates were updated today (valid until 09/30/2018).
S/X:
75D: 3.49%-3.99% now (up 0.5%).
100D: 2.24%-2.74% (up 0.25% I believe).

 

[sickbones]

It's with RBC through Tesla

How did you go through Tesla to do your financing? I don't see the option..

 

[Koflach]

How did you go through Tesla to do your financing? I don't see the option..

don't stress it. When they eventually contact you just say that you want to do Tesla Financing and they will get the paperwork going for you.

 

[sickbones]

don't stress it. When they eventually contact you just say that you want to do Tesla Financing and they will get the paperwork going for you.

Sounds good, thanks!

 

[sickbones]

Sorry I forgot to add, do I need to choose which way I'll be paying right off the hop, then when they contact me I ask about the Tesla financing?

 

[phtp]

Sorry I forgot to add, do I need to choose which way I'll be paying right off the hop, then when they contact me I ask about the Tesla financing?

Did you place the order yet? There is a section called "Payment Option" and in there you can select what you want to do.

 

[sickbones]

Did you place the order yet? There is a section called "Payment Option" and in there you can select what you want to do.

I have, I confirmed my order June 30, 2018. In my Payment Options, the Tesla loan does not show up.

 

[03DSG]

I have, I confirmed my order June 30, 2018. In my Payment Options, the Tesla loan does not show up.

If your actual address is in Edmonton then financing should be avaiable as Tesla provides financing in BC, Alberta, Ontario and Quebec only in Canada.

 

[akidesir]

Anyone else had their vehicle delivered on May 31st and selected the financing option? I thought my first payment was supposed to come on June 30th but I’m checking my bank account and I don’t see a withdraw happen yet.

I gave them a voided cheque at the time of delivery.

RBC financing thru Tesla.

 

[Anto]

@akidesir, something very interesting here with your VIN #. I noticed you got delivery on May 31st with a 293xx. Mine is 285xx and delivered June 30th (ordered June 7th). Quite interesting....

 

[03DSG]

@akidesir, something very interesting here with your VIN #. I noticed you got delivery on May 31st with a 293xx. Mine is 285xx and delivered June 30th (ordered June 7th). Quite interesting....

Not sure if your aware but Tesla does not build by VIN’s sequentially. They specifically do this to to keep production numbers to themselves, at least for a while. Technically they could have 2 cars in line during production 5000 VIN numbers apart.

 

[vidya_sagar]

Anyone else had their vehicle delivered on May 31st and selected the financing option? I thought my first payment was supposed to come on June 30th but I’m checking my bank account and I don’t see a withdraw happen yet.

I gave them a voided cheque at the time of delivery.

RBC financing thru Tesla.

Yep, I got mine on the same day but they didn't withdraw 1st payment this month. Wondering if it is because of holidays.

 

[Insilin]

Mine was just taken out today also delivered on the 31st.

 

[Ludalicious]

Is anyone just using their Home Equity Line of credit (HELOC) to finance their car purchase. I'm with TD and current variable rate in prime +.50% or 3.95%.

Wouldn't make much sense. Doesn't even really make much sense buying the entire vehicle out with just how cheap of an interest rate Tesla offers. My vehicle was 2.5% over 8 years. No way my mortgage will ever be that low again. On a fixed mortgage and I believe the going rate over 7 years is 3.5%. Looks like rates have went up a bit but for the most part. They look fairly low

 

[phtp]

Yep, I got mine on the same day but they didn't withdraw 1st payment this month. Wondering if it is because of holidays.

My brother in law has a car loan with RBC and they never withdraw on the date it's due. It's always been 1-2 business day after before the tractions action occurs.

Wouldn't make much sense. Doesn't even really make much sense buying the entire vehicle out with just how cheap of an interest rate Tesla offers. My vehicle was 2.5% over 8 years. No way my mortgage will ever be that low again. On a fixed mortgage and I believe the going rate over 7 years is 3.5%. Looks like rates have went up a bit but for the most part. They look fairly low

Not sure which car the person is getting, but Model 3 rates are much higher than Model S or X.