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Financing Tesla vehicles in Canada

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So what happens if you want to put a greater amount down. Say 50 percent. Does it get resubmitted or is it live so to speak?

Can one talk to a person or is it just online.

When you are approved for the entire amount, you can put any down payment and it's good to go without any further approvals. The idea is that Tesla can literally give you the car and deal with the bank later by submitting the same application with the updated amount as long as it is not over the amount you're approved for.

Yes, your sales advisor can give you the email of the team that handles the financing, but you will be just communicating with someone from Tesla, not the bank. No, you can't speak to the bank directly about it.
 
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When you are approved for the entire amount, you can put any down payment and it's good to go without any further approvals. The idea is that Tesla can literally give you the car and deal with the bank later by submitting the same application with the updated amount as long as it is not over the amount you're approved for.

Yes, your sales advisor can give you the email of the team that handles the financing, but you will be just communicating with someone from Tesla, not the bank. No, you can't speak to the bank directly about it.

Ok. Thank you. The rates are good and it’s just hard to justify pulling money out of the markets right now. Considering a half down approach. Maybe 48 months if that gets a better rate.
 
Since the "wait" is more than 2-3 months for a new vehicle, is the quoted rate "locked-in" on our reservation orders??

You will have to reapply again as the approval expires in 30 days. I've been hearing about 60 day approvals in the US, but I'm not sure if it is the case in Canada.

Anyway, reapply maybe 2 weeks before your delivery date (or estimated delivery date).
 
You will have to reapply again as the approval expires in 30 days. I've been hearing about 60 day approvals in the US, but I'm not sure if it is the case in Canada.

Anyway, reapply maybe 2 weeks before your delivery date (or estimated delivery date).

Or does it make sense to wait till you get a VIN assigned and then apply for financing? The approvals should not take more than 1/2 business days?
 
Or does it make sense to wait till you get a VIN assigned and then apply for financing? The approvals should not take more than 1/2 business days?

You won't have an estimated delivery unless you have a VIN. At least that's what happened in Q4.

I personally prefer to have an approval and be ready ahead of time. It won't be half a day when it's too busy! That's for sure!
 
So what happens if you want to put a greater amount down. Say 50 percent. Does it get resubmitted or is it live so to speak?

Can one talk to a person or is it just online.

My delivery is this Saturday, the delivery specialist reached out with the amount that I have to pay on the day which then I told him I wanted to put more down. he adjusted on his side and reflected on my side instantly with the updated monthly payment and due on delivery.

If you only placed your order online without speaking to a sales adviser, I would advise speak with someone to have that adjusted if you want it to be done in advance. Otherwise I would speak with your SA.
 
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question here.

are people getting the aforementioned rates via the "loan arranged through tesla" in their account or directly from the banks page?
I ask as the lowest I am getting via loan through tesla is 4.25 and thats for 72 months.
 
question here.

are people getting the aforementioned rates via the "loan arranged through tesla" in their account or directly from the banks page?
I ask as the lowest I am getting via loan through tesla is 4.25 and thats for 72 months.
I got mine directly from my Tesla account, it listed the application after talking to my sales associate, and then showed the approval through RBC (still on account page). I even called RBC auto financing to talk about the length of time the rate was good for, but they even directed me back to Tesla finance.
 
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