Financing Tesla vehicles in Canada

[pbcsd]

When folks are getting these rates for 60/72/84 months or whatever, are there penalties for prepayment if you sell your car early? Also, just to confirm, if my car is not schedule to come until end of April, is there not much point in getting a rate today?

 

[HeroicKaizer]

Is the 3.65% with some amount of money down - or is that with $0 down? I got offered the same but they are asking for a sizeable down payment. Not sure if that is standard, or the finance department

Shouldnt you be able to decide how much downpayment you want to pay? I find it weird how the bank will say you need a certain amount for downpayment on a car

 

[sandman1330]

Shouldnt you be able to decide how much downpayment you want to pay? I find it weird how the bank will say you need a certain amount for downpayment on a car

I think it's part of the approval process. The way they see it, if you can't afford to put a certain amount down, then you may be stretching your means a bit too much. How much they need down may depend on credit rating as well.

That's my theory, anyway...

 

[P2AT]

after receiving your rate, always double check by emailing [email protected] to double check your rate. provide your RN

 

[DasTasla]

Alright - so the SA was able to work with finance and I have RBC @ 3.25% for 96 mo $0 down. Picking up LR M3 next week.

 

[Murky-Article]

Is the 3.65% with some amount of money down - or is that with $0 down? I got offered the same but they are asking for a sizeable down payment. Not sure if that is standard, or the finance department

Down payment depends on your credibility. Rate does not change.

 

[koorosh]

Alright - so the SA was able to work with finance and I have RBC @ 3.25% for 96 mo $0 down. Picking up LR M3 next week.

awesome.

 

[DasTasla]

after receiving your rate, always double check by emailing [email protected] to double check your rate. provide your RN

Interesting - any context to why this needs to be done? Are the rates going to change after they have been accepted and agreed upon?

 

[rezla]

Alright - so the SA was able to work with finance and I have RBC @ 3.25% for 96 mo $0 down. Picking up LR M3 next week.

Awesome! do you know what your SA exactly did to get you this rate? what was your rate before this one?
I got 3.65% for 96 mo $0 down with RBC.

 

[P2AT]

Interesting - any context to why this needs to be done? Are the rates going to change after they have been accepted and agreed upon?

it never hurts to see if you really are getting the lowest rates. Financing on the website is usually an automatic process. Many people report getting lower rates because they simply ask!

 

[Python]

Alright - so the SA was able to work with finance and I have RBC @ 3.25% for 96 mo $0 down. Picking up LR M3 next week.

Awesome! do you know what your SA exactly did to get you this rate? what was your rate before this one?
I got 3.65% for 96 mo $0 down with RBC.

I emailed tesla finacancing and they changed my rate from 3.68% to 3.65% over 96mo with 40% down. Deff curious how you got 3.25%, finacing replied back and said thats the lowest rate any of their lenders are currently offering for 84-96mo terms.

 

[HeroicKaizer]

I emailed tesla finacancing and they changed my rate from 3.68% to 3.65% over 96mo with 40% down. Deff curious how you got 3.25%, finacing replied back and said thats the lowest rate any of their lenders are currently offering for 84-96mo terms.

Did the bank ask you to put down 40% or you are putting 40% down?

 

[Python]

Did the bank ask you to put down 40% or you are putting 40% down?

Thats was my own personal choice to bring my payments down to something i like

 

[DasTasla]

Sorry for the late response guys, i am not exactly sure why i got the lower rate (not complaining ) - but it might be because I work for RBC - and have all my financial products with them…

 

[koorosh]

Sorry for the late response guys, i am not exactly sure why i got the lower rate (not complaining ) - but it might be because I work for RBC - and have all my financial products with them…

Pretty good. Any referal is accepted by any chance (RBC client here)

 

[rezla]

Sorry for the late response guys, i am not exactly sure why i got the lower rate (not complaining ) - but it might be because I work for RBC - and have all my financial products with them…

Working for RBC could be an understandable reason to get a better rate I guess, haha
Congrats once again!

 

[P2AT]

Just as a datapoint they gave me 3.2% for 60months after email tesla

 

[rezla]

Just as a datapoint they gave me 3.2% for 60months after email tesla

What was your previous rate?
Did they give you this rate after accepting the previous loan agreement or before?

 

[P2AT]

3.25

 

[Dimundz]

I got 3.25% for 96 months here in Toronto but that is because I locked it in January and received car early Feb. Rates when up this month, so if you're just applying now, the 3.25% is most likely gone. I regret not going to a 2.85% 72 month.