Financing Tesla vehicles in Canada

[Blue2020]

With the latest drop in Prime, has anyone else received a lower rate recently through Tesla for BNS? Specifically looking for 96 months.

 

[Darcehole]

With the latest drop in Prime, has anyone else received a lower rate recently through Tesla for BNS? Specifically looking for 96 months.

Not BNS but I emailed tesla yesterday and he advised that best rate for RBC 96 months is 3.6, which is what I got last week.

 

[Blue2020]

Not BNS but I emailed tesla yesterday and he advised that best rate for RBC 96 months is 3.6, which is what I got last week.

So same as what I have with BNS. Sounds like that will be the going rate unless I was to refinance in the near future. Thanks for the reply!

 

[Kappatown35]

So banks haven’t given a discount since the last drop
I don’t expect and rate drop soon on today news ?

 

[Webeevdrivers]

So banks haven’t given a discount since the last drop
I don’t expect and rate drop soon on today news ?

It took a couple days to show up on our line of credit rate the last couple times. Check in a couple days. Line of credit should drop from 3.45 to 2.95. We had cash set aside but at those rates we’ll keep our cash for investing and just borrow when the car arrives...in another 10 weeks now according to our SA.

 

[TheWulf]

My delivery advisor said that Tesla only refreshes rates once per month, so no changes we come until April even if banks lower their rates.

 

[Blue2020]

And if you car on finance before April 1 then it'll be best to refinance with RBC/Scotia/Whomever your bank is to get the latest and greatest rate - keep in mind you would get a credit hit though.

My delivery advisor said that Tesla only refreshes rates once per month, so no changes we come until April even if banks lower their rates.

 

[Panda1]

If your waiting for your car then yes this is great but if the car is here now I’d say go get it. a point drop for the life of the term your looking at an extra 10-20 bucks a month maybe if that also considering this might be the last shipment of cars for awhile now that California is closed down due to Corona jump in a car ASAP

 

[TheWulf]

And if you car on finance before April 1 then it'll be best to refinance with RBC/Scotia/Whomever your bank is to get the latest and greatest rate - keep in mind you would get a credit hit though.

Does Tesla let you refinance through them? Refinancing directly with the bank would net you a higher rate than what you can get through Tesla (I already checked for current rates).

 

[Blue2020]

Does Tesla let you refinance through them? Refinancing directly with the bank would net you a higher rate than what you can get through Tesla (I already checked for current rates).

Once you have the car then any refinancing will have to be with the bank directly. Based on what you're saying, sounds like the rate change may not be that much should we refinance with the bank directly?

 

[Panda1]

Yes once you sign the paperwork Tesla is done with you anything else will be on your own

 

[TheWulf]

Once you have the car then any refinancing will have to be with the bank directly. Based on what you're saying, sounds like the rate change may not be that much should we refinance with the bank directly?

Yeah dealers get preferential rates. If you refinance directly you're looking at 6-7%

 

[CanadaGoose]

Can someone confirm this?

Existing inventory M3 SR+’s don’t qualify for federal $5000 incentive?

 

[ottawa613]

Heads up appears the rates went up this month, my rate went from 3.87 to 4.05 with Scotiabank. Looks like waiting for April became a bad decision.

 

[Blue2020]

Heads up appears the rates went up this month, my rate went from 3.87 to 4.05 with Scotiabank. Looks like waiting for April became a bad decision.

WOW

 

[ottawa613]

Spoke to Tesla, and were able to bring it down to 3.72. Just needed to talk to them I guess.

 

[Blue2020]

Spoke to Tesla, and were able to bring it down to 3.72. Just needed to talk to them I guess.

How many months? I have 3.6 at 96

 

[ottawa613]

How many months? I have 3.6 at 96

96 months as well your rate is better mine was 3.87 previously than it was raised to be 4.05 so I reached out to them.

 

[Blue2020]

96 months as well your rate is better mine was 3.87 previously than it was raised to be 4.05 so I reached out to them.

Yes mine was 3.87 before the rate adjustment as well. Mind you I picked up my car March 22

 

[tselaTO]

I am with RBC. Took delivery last week. Any chance to delay the loan by 2 or 3 months? Anyone tried?