Financing Tesla vehicles in Canada

[dovu]

would it drop again in September? since some of us are getting deliveries then.

 

[gauravk17]

would it drop again in September? since some of us are getting deliveries then.

I hope so too. I got a call for pickup on Sept 9.

 

[richyrich]

would it drop again in September? since some of us are getting deliveries then.

We find out tomorrow.

 

[toshman]

Did anyone hear what the new rates are for September? I'm picking up my M3 soon. Thanks.

 

[3lectricboy]

I emailed auto finance and they said rates are unchanged currently from August. Picking up my Model Y this Saturday.

 

[gauravk17]

this is the reply I got from auto finance.

 

[blackdragon12]

this is the reply I got from auto finance. View attachment 583207

My advisor also told me that rates are unchanged for September - so I just placed my order today. If we do see it drop in the coming days/weeks, am I able to get the new rate?

 

[AmarK]

Thanks. They responded and updated my rate to 2.15.

Great news Rob! Did you have to change your terms or down payment. I am approved @2.6 RBC for 96 mo and emailed finance but they said they need to do a credit check again so wanted to be sure this time.

 

[Icicles]

Great news Rob! Did you have to change your terms or down payment. I am approved @2.6 RBC for 96 mo and emailed finance but they said they need to do a credit check again so wanted to be sure this time.

I would do it either at the end of Sept or right before your delivery date if it is this month. With the former you will hold that rate way into Oct in case it goes up, with the latter it only takes minutes for them to update your rate anyway.

 

[yesman686]

Hello all,

planning to order model Y long range, i like to loan the car, however, the tesla loan interest is a bit way to high. as read some previous post and we can get the loan from different banks. how i know how it works? i have moagage with Scotia bank too. what kind of info i should give it to them and how to deal with tesla if i choose to pick my prefer bank ?

what kind of interest do you guys get?

Thank you.

 

[AmarK]

I would do it either at the end of Sept or right before your delivery date if it is this month. With the former you will hold that rate way into Oct in case it goes up, with the latter it only takes minutes for them to update your rate anyway.

Thanks Rob my delivery date is this Thursday so would go with asking them to update now. If you don't mind did you take it for 60 mo or 96 mo?

 

[AmarK]

Thanks Icicles my delivery date is this Thursday so would go with asking them to update now. If you don't mind did you take it for 60 mo or 96 mo?

 

[Icicles]

I did 60 months. 72 months and below are 2.15% atm.

 

[fear789]

How do you switch payments from monthly to bi weekly?

 

[ejohan]

Hello all,

planning to order model Y long range, i like to loan the car, however, the tesla loan interest is a bit way to high. as read some previous post and we can get the loan from different banks. how i know how it works? i have moagage with Scotia bank too. what kind of info i should give it to them and how to deal with tesla if i choose to pick my prefer bank ?

what kind of interest do you guys get?

Thank you.

The Tesla rates on their site are not accurate. See through the last few pages for the current rates but they’re in the 2.x% range. You’re unlikely to get better elsewhere. Telsa financing is done by either Scotiabank or RBC.

If you approach Scotia on your own, they’d likely offer you something around 6.x% unless it’s a home equity loan.

 

[Cybr.Myk]

How do you switch payments from monthly to bi weekly?

I’m curious about this too. Can it be set up at time of delivery or do I need to contact Scotia after the fact.

 

[fear789]

I’m curious about this too. Can it be set up at time of delivery or do I need to contact Scotia after the fact.

Ended up emailing Tesla. I was told to contact scotia after delivery

 

[Cybr.Myk]

Ended up emailing Tesla. I was told to contact scotia after delivery

Thanks

 

[yesman686]

The Tesla rates on their site are not accurate. See through the last few pages for the current rates but they’re in the 2.x% range. You’re unlikely to get better elsewhere. Telsa financing is done by either Scotiabank or RBC.

If you approach Scotia on your own, they’d likely offer you something around 6.x% unless it’s a home equity loan.

thank you, so i dont have to shop around then. will they tell you the rate until you get delivery notice?

 

[Cybr.Myk]

thank you, so i dont have to shop around then. will they tell you the rate until you get delivery notice?

they told me a rate about 48 hours after filling out the credit application. 2.6% for 96 months.