Financing Tesla vehicles in Canada

[ivolol]

Has anyone looked into this? Solar is eligible as well ($25k).

Energy Efficiency and Electric Vehicle Loan | HSBC Canada

The HSBC Energy Efficiency and Electric Vehicle Loan lending solution helps homeowners with energy efficiency projects. See how our low-interest financing can help your eco-friendly goals.

www.hsbc.ca

Looks good but based on prime rate so can go up over time.

 

[sundaymuse]

Got 2.4% for 60 months with RBC when I did my loan app through Tesla. I emailed Tesla autofinance and they said that the lowest rate their lenders offer is 2.49%??

 

[jugsofcheese]

Got 2.4% for 60 months with RBC when I did my loan app through Tesla. I emailed Tesla autofinance and they said that the lowest rate their lenders offer is 2.49%??

Yup that’s what they initially told me as well, 2.49 base/best rate but RBC gave me 2.4 to begin with then a minute late I got an email saying I was approved for 2.35 from Scotiabank. I asked for a 60 months term but they told me 60 and 72 get the same rate.

 

[sundaymuse]

Yup that’s what they initially told me as well, 2.49 base/best rate but RBC gave me 2.4 to begin with then a minute late I got an email saying I was approved for 2.35 from Scotiabank. I asked for a 60 months term but they told me 60 and 72 get the same rate.

Hmm, I didn't get an email afterwards unfortunately Was your email saying that you were approved from [email protected]? Happy for you!

 

[FreddDS]

Just did the Tesla loan app on my account today, got 2.35 from Scotiabank.

 

[H2OSteamer]

Just did the Tesla loan app on my account today, got 2.35 from Scotiabank.

How long is the term? Is it for the model S?

 

[m3_tristan]

I changed my term to 72 months and got 2.35% with Scotia Bank too. Picking up the car tonorrrow!

 

[FreddDS]

How long is the term? Is it for the model S?

72 months. Model 3 SR+.

 

[tallshorty]

Any disadvantage to just getting a second mortgage on a house? Mortgage rates are super low, 1.4% range for 3 year variable rate. Much better than getting financing isn't it?

 

[tayadey]

emailed autofinance tesla after seeing 2.35% on this thread, they emailed me back within 5 mins giving me that rate.
It really only saves me around $2 a month as I was at 2.4% initially, but hey, every dollar counts right?

 

[jugsofcheese]

Hmm, I didn't get an email afterwards unfortunately Was your email saying that you were approved from [email protected]? Happy for you!

The approval email didn’t come from autofinance it was from another email address ([email protected]) with the below update:

Review Your Updated Tesla Loan Offer​

RNXXXXXXXXXX​

There's been an update made to your TeslaLoan Offer. View the change in your Tesla Account.​

 

[EnJay]

Got a string of couple "Review Your Updated Tesla Loan Offer" emails, logged in and saw that it updated to 2.35% with Scotiabank. I didn't accept it right away but 2 min later I received another email and it reverted back to 2.4% with RBC. I did emailed autofinance after reading this thread to see if they will honor but i think it's all done now since my profile says everything is completed. The delivery is later this week.

 

[EloquentSyntax]

Updated mine and got 2.35% from Scotiabank as well, thanks everyone!

 

[Subculture]

Maybe a stupid question, but Tesla hasn't gotten back to me to clarify:

Placed an order for the Model Y, estimated delivery is March which is perfect for me. Got approved for 36 months at 2.5% through the website via Bank of Montreal.

It's asking me to "Confirm", but I'm a little unclear on what I'm confirming. Am I locking myself into that? I know the approval will expire long before I have the car anyway, but this wording kind of gives me pause.

Does anyone know what that really means?

I'm sort of assuming I just have to click confirm regardless.

 

[Smiley416]

You could do what I'm doing. Select cash and then once you approach to a closer delivery date, you ask your SA to enable the financing and at that point you can confirm whatever rate they give you (and you're only hit with one credit check)

 

[Subculture]

You could do what I'm doing. Select cash and then once you approach to a closer delivery date, you ask your SA to enable the financing and at that point you can confirm whatever rate they give you (and you're only hit with one credit check)

Ya, I'll wait a couple more days to see if Tesla can answer my question and if I don't hear anything, I guess I'll switch to cash. Thanks.

 

[razh]

Any disadvantage to just getting a second mortgage on a house? Mortgage rates are super low, 1.4% range for 3 year variable rate. Much better than getting financing isn't it?

I'm using my home equity line of credit (HELOC) and I haven't found any disadvantages. 1.6% for as long as I want (Buy the car cash from Tesla and pay off HELOC @ 1.6%)

 

[Floger]

I just looked at my Scotia online account. I originally was accepted at 2.4% for 72 months and to my surprised I was locked in a 2.35%. Not a huge difference, but a surprise nevertheless.

 

[Steel28]

I think I saw the answer somewhere but can’t find it.
My first finance payment was taken out a few days ago..if I want to accelerate my payments and pay off earlier where do I get RBC account number? Should I reach out to my SA to confirm?

thanks

 

[robbie3130]

I think I saw the answer somewhere but can’t find it.
My first finance payment was taken out a few days ago..if I want to accelerate my payments and pay off earlier where do I get RBC account number? Should I reach out to my SA to confirm?

thanks

Just phone RBC, they can look you up with just your name and date of birth etc.