Financing Tesla vehicles in Canada

[knowlan]

Edit link removed doesn't mean anything. I had mine removed in July. The financing application where you submit in your info and do a hard credit check is what counts.

I’ve also just been advised of my trade-in value and that it is valid for 30 days also. So, to me, both are pointing to action (including financing application/approval and delivery) sometime in that window. Or, am I being overly optimistic? I guess I’ll find out when I get my financing request underway.

 

[spurs10]

People who are financing, are they able to switch to bi-weekly payments?
I was told i have to talk to the bank directly?

 

[Kiyi]

People who are financing, are they able to switch to bi-weekly payments?
I was told i have to talk to the bank directly?

Was told the same thing. I'm going to call them but haven't got a copy of my paperwork that I signed yet

 

[knowlan]

I’ve also just been advised of my trade-in value and that it is valid for 30 days also. So, to me, both are pointing to action (including financing application/approval and delivery) sometime in that window. Or, am I being overly optimistic? I guess I’ll find out when I get my financing request underway.

No, I wasn’t overly optimistic. Today I received a delivery appointment notice for September 18, 4th Avenue Store, Vancouver.

 

[Techniques]

Incase anyone needs them,

 

[cil0n]

Incase anyone needs them,
View attachment 332912

Weird... mine says 4.58% / 96 months thru Scotia... I'm wondering if I can switch to the RBC rate?. I assume its worth it even for 0.06% difference.

 

[rounderjd]

No, I wasn’t overly optimistic. Today I received a delivery appointment notice for September 18, 4th Avenue Store, Vancouver.

The web site defaults to 4th avenue, but unless your ISA/DA tells you otherwise it may actually be at Powell. Once you see a VIN, you might want to call the Service centre to confirm. When I did this I was told the car was already at the lot!

 

[hkhemani]

Finally got MVPA late last night for delivery today. They added 200 for Licensing/registration and 96.33 for PPSA and doesn’t have additional tax on it.

 

[DeathChill]

Did anyone do a pre-approval before ordering? I'm surprised at how irritating the process is. It's the largest loan I've ever personally taken so I want to get my ducks in a row and every bank has said they don't so loans at that level without a VIN so it'd have to be done through Tesla after ordering, which is always a risk. The bank said that I would very likely get a loan no problem but the idea of even slightly risking $4200 seems silly.

 

[Vawlkus]

Did anyone do a pre-approval before ordering? I'm surprised at how irritating the process is. It's the largest loan I've ever personally taken so I want to get my ducks in a row and every bank has said they don't so loans at that level without a VIN so it'd have to be done through Tesla after ordering, which is always a risk. The bank said that I would very likely get a loan no problem but the idea of even slightly risking $4200 seems silly.

Actually Tesla can approach the lender without the VIN and still get approval. That’s how I got my X. The banks just wouldn’t deal with me.

 

[Gdelean]

I filled out the credit app thru tesla about 30 minutes ago..

Biggest purchase ive ever made. First car ive bought. First loan to buy something. Credit score is 840 with equifax.. 801 with transunion..

Lol im nervous or anxious..

 

[DeathChill]

Actually Tesla can approach the lender without the VIN and still get approval. That’s how I got my X. The banks just wouldn’t deal with me.

Really? I emailed Tesla and they said I could go to my own banks for preapproval but in reality the banks don't do it.

 

[Vawlkus]

Really? I emailed Tesla and they said I could go to my own banks for preapproval but in reality the banks don't do it.

In the US it is. Tesla peeps don’t always know it’s different up here in Canada.

 

[Gdelean]

I filled out the credit app thru tesla about 30 minutes ago..

Biggest purchase ive ever made. First car ive bought. First loan to buy something. Credit score is 840 with equifax.. 801 with transunion..

Lol im nervous or anxious..

Still no response from credit...

 

[DeathChill]

In the US it is. Tesla peeps don’t always know it’s different up here in Canada.

So they did it for you? I guess maybe I should try calling because emailing is just leading me in circles.

 

[Vawlkus]

So they did it for you? I guess maybe I should try calling because emailing is just leading me in circles.

That was the only way I could get financing. The bank literally said they couldn’t talk to me, but that Tesla had to get the ball rolling.

I did all mine via email with my SA at Tesla, I didn’t need to call in, but that was last year before the Model 3 rush hit.

 

[Gdelean]

2 days since i filled out the credit app... still no response...

 

[knowlan]

2 days since i filled out the credit app... still no response...

Lots of deliveries going on so I’m sure they’re swamped. I was waiting as well, but contacted Tesla Finance by email. They responded within about 4 hours & then things were finalized shortly thereafter. Contact them. They’ll respond.

 

[Gdelean]

Lots of deliveries going on so I’m sure they’re swamped. I was waiting as well, but contacted Tesla Finance by email. They responded within about 4 hours & then things were finalized shortly thereafter. Contact them. They’ll respond.

Lol day 3... can u send me the email address?

 

[knowlan]

Lol day 3... can u send me the email address?

[email protected]