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Same for meI have delivery scheduled for Saturday and today I got an email to confirm my Loan Offer again. I was approved for 2.95 from RBC on April 21st. New rate of 2.8 was on the new offer.
Same for me
Approved for 2.95% for 96 months at the end of a April. Scheduled to pick up the car tomorrow and got he updated offer today at 2.8% for 96 months.
Damn 2.4 at 96 that has to be a mistake! Good luck, I hope you get to keep that!!!I’ve got 2.4 locked in for 96 months, will they update this before I pick up to the higher rate? I originally had this rate for 72 months but they updated it to 96 and left it at that. Was this a mistake? I want that rate
Yes I got it, I take delivery tomorrow. Ended up being 20 cents less a month than approval, which equates to a reduction on my license fee line, I assume because 2 months have passed since my original approval and I’m paying for 2 months less licensing.My financing changed without notice today, the amount down as well, wasn’t called or anything??? I have a bank draft ready for tomorrow and am supposed to pick up. I don’t understand what happened, has anyone else had this happen?
If more than 30 days has elapsed since approval, they will revise the rate a few days before delivery. This might coincide with a delivery appointment being set. They also adjust other fees at that time.My financing changed without notice today, the amount down as well, wasn’t called or anything??? I have a bank draft ready for tomorrow and am supposed to pick up. I don’t understand what happened, has anyone else had this happen?
Did you get an update yet? What's the new rate if you don't mind? Also I noticed you said your amount due went down in your other post. Do you mean they adjusted your downpayment without you asking for it?Tesla is going to follow up with me in the coming days, I was approved on June 7 for the rate but it all changed Saturday, none of the reps knew why and this was the first time they’ve seen this happen
Picking up later in the week now
Rates are still 2.8 for 96 and 2.35 for 72Did you get an update yet? What's the new rate if you don't mind? Also I noticed you said your amount due went down in your other post. Do you mean they adjusted your downpayment without you asking for it?
2.35% for 72 months with Scotia. Originally I had a BMO 2.30% approved when I first did the online process but by the time I went for pickup, the conditions all changed and I was signing papers from Scotia. Based on my experience, here is what I found.
1 - When you do all the online ordering process and you received an "approved" message, it isn't really approved until you do your delivery acceptance and you are signing the paperwork on that day. Make sure you check everything because whatever you thought you had when you first order it could have changed. The entire process for me was within 3 days from ordering and picking up (I bought from inventory).
2 - Assume you won't get emails or notifications of changes even when the approval is 'retracted' between the time of ordering and the time of picking up the delivery of your vehicle. If you do happen to get the notifications then you are luckier than me. By the way, Tesla folks don't know why this happens, I've asked multiple times and they keep pointing to our Canadian financial systems as the cause. Tesla staff are great and they did try to figure things out and help you as best they can.
3 - The majority of the time you will get a better rate from this Tesla process than you will have the major banks for new car loans. It seems that Tesla has the banks 'bid' for your loan and tries to give you the best rate.
As I know everyone's situation is different including their credit scores, etc. I wanted to share with you all what I experienced and what my understanding of the situation is, right or wrong.
Good luck and don't worry about it too much, enjoy the car!
My two cents
That's interesting. I had been approved with the 2.30% from BMO almost three months before delivery. Just over 36 hours before delivery, My tesla account reverted back to "Credit Decision Pending". The next morning, I received an email saying that I had a financing offer to review, and it was identical to the original one.
So you go no notice that something changed, and I got notice, but nothing had changed...
I was within 90 days. 77 days to be exact.Approval is only valid for 90 days they ran another credit check and approved u again banks are checking to make sure you’re credit has not changed since their last approval