Financing Tesla vehicles in Canada

[Marlon]

ConfusedF, see thread "CPO purchase shenanigans" for details - I don't want to hijack this thread.

 

[MattM24]

Hi all,

New here. Are these rates that you are getting quoted fixed or variable?

 

[richyrich]

Hi all,

New here. Are these rates that you are getting quoted fixed or variable?

Pretty sure bank vehicle loans are always a fixed APR for the term of the loan?

 

[MattM24]

Pretty sure bank vehicle loans are always a fixed APR for the term of the loan?

Thanks! Those are great rates. Excited for my Y.

 

[djino]

Oh ok

oh ok! Good to know. For some reason I thought you already had the car.

congrats on the lower rate.

Finally got the delivery text. Picking up my Model Y next Saturday July 18th

djino

 

[richyrich]

Finally got the delivery text. Picking up my Model Y next Saturday July 18th

djino

Congrats, when did you order?

 

[richyrich]

Question for those trading in a vehicle with outstanding finance - do you pay tax on the full price of the vehicle, or do you still get the tax benefit of the trade-in?

 

[djino]

Congrats, when did you order?

Thanks...

ordered my Model Y LR AWD white on white with FSD on January 4th.

got the text 3 hours ago and confirmed delivery in Montreal next Saturday July 18th.

djino

 

[fear789]

If I’m looking to finance a Model 3, does the $2500 get refunded or count as a downpayment ? Has anyone been approved with just the $2500 down?

 

[frontalot]

If I’m looking to finance a Model 3, does the $2500 get refunded or count as a downpayment ? Has anyone been approved with just the $2500 down?

The $2,500 deposit reduces the remaining amount to be financed so, yes, it works as a down payment.

Scotia offered to finance the entire amount for me - taxes, fees, and all - at 2.35% for up to 72 months. I originally planned to pay roughly half in cash and finance the rest, but with such a great offer I financed everything and invested my cash instead.

 

[KoppDuong]

I placed the $1000 for reservation way back for the model 3 so I'm super excited to be placing my order next week. I'm curious about the $5000 rebate, when i apply for financing I know the $1000 reservation and $2500 order fee will be applied does the $5000 get automatically applied as well. And when I pick up the car do I have to pay taxes or is that all included in the financing like all my past car loans?

 

[knsr4]

I placed the $1000 for reservation way back for the model 3 so I'm super excited to be placing my order next week. I'm curious about the $5000 rebate, when i apply for financing I know the $1000 reservation and $2500 order fee will be applied does the $5000 get automatically applied as well. And when I pick up the car do I have to pay taxes or is that all included in the financing like all my past car loans?

The $5000 Canadian incentive will be deducted from the total cost of the car after taxes.

 

[Konea]

Just tried to renegotiate my less than one month old loan with RBC. No go. They wouldn't budge.

 

[djino]

Thy

Just tried to renegotiate my less than one month old loan with RBC. No go. They wouldn't budge.

I wouldn't think they'd have any incentive to adjust the rate after you've taken delivery. Its not like you are free to then take your business elsewhere (nor would you be able to cancel/reorder)

djino

 

[KoppDuong]

The $5000 Canadian incentive will be deducted from the total cost of the car after taxes.

Thank you

 

[hdesai76]

The $2,500 deposit reduces the remaining amount to be financed so, yes, it works as a down payment.

Scotia offered to finance the entire amount for me - taxes, fees, and all - at 2.35% for up to 72 months. I originally planned to pay roughly half in cash and finance the rest, but with such a great offer I financed everything and invested my cash instead.

Hi All, first post please ear with me.
We are purchasing a CPO Model X, we just got approved with RBC for 2.8% over 72 months.
Question is when I look at the financing it is asking for $20000 on top of the $2500 we put down.
We are able to put a little more but don't have liquid cash like $20,000 my wife and I have good credit rating.
What are our options? Other than getting our own financing through a bank with likely higher interest rates.
Thank you

 

[Kappatown35]

Hi All, first post please ear with me.
We are purchasing a CPO Model X, we just got approved with RBC for 2.8% over 72 months.
Question is when I look at the financing it is asking for $20000 on top of the $2500 we put down.
We are able to put a little more but don't have liquid cash like $20,000 my wife and I have good credit rating.
What are our options? Other than getting our own financing through a bank with likely higher interest rates.
Thank you

If you talk to your SA they can adjust the 20,000 and add it to your loan amount

 

[hdesai76]

If you talk to your SA they can adjust the 20,000 and add it to your loan amount

Thank you

 

[doomfist]

Got 2.8% 84mo for my Y

 

[hdesai76]

If you talk to your SA they can adjust the 20,000 and add it to your loan amount

We just heard back from them interest rate went down to 2.35% on a 72 month term. But according to the SA they require us to come up with the $20,000 upon taking delivery.
This really sucks as we really wanted the car and we can afford it but now to find the $20,000 if we can or we will cancel the deal.
The finance rates on CPO for this type of term are great