Financing Tesla vehicles in Canada

[sokhangoo]

I've heard of this happening as well. Maybe it depends on your credit rating and how much you are putting down?

I’m not sure but it doesn’t make sense. If rates are valid for 30 days then it should apply to all.

 

[iKhalid]

It could be that the conditions written on the website applies to the US loans only.

 

[heavyD]

I’m not sure but it doesn’t make sense. If rates are valid for 30 days then it should apply to all.

I agree but the poster above is not the first person to mention that they received the original interest rate even after it should be expired.

 

[mikester6]

I applied for my loan in first week of March and now I got the email that my final payment and contract is ready and in there my rate and monthly payment is the same as the one I got in March (3.98% for 96 months with $15K down).

That’s good to hear. From all the posts I’ve read, they do a final credit check when you sign for the car. I hope that’s the case cause I did my financing Apr 30.

Have you picked up the car yet? If not, let us know what happens!

 

[sokhangoo]

That’s good to hear. From all the posts I’ve read, they do a final credit check when you sign for the car. I hope that’s the case cause I did my financing Apr 30.

Have you picked up the car yet? If not, let us know what happens!

Not yet, May 10 and I will!

 

[mikester6]

Not yet, May 10 and I will!

Damn lucky! I can’t wait. Been waiting since Oct 5

 

[P2AT]

Been waiting since January 2021

 

[vsg055]

Got 5.1% with BMO today - 96 months - 0 down. Looks atrociously high. Any inputs?

 

[Colsla]

Got 5.1% with BMO today - 96 months - 0 down. Looks atrociously high. Any inputs?

shorter term or large DP

 

[mikester6]

@sokhangoo today is the day! Let us know your experience

 

[Tony_YYZ]

I just got approved for 4.9% from RBC for 96mo. I have a large downpayment.

 

[vsg055]

I just got approved for 4.9% from RBC for 96mo. I have a large downpayment.

Did you accept or shopping around?

 

[Tony_YYZ]

Did you accept or shopping around?

I accepted. I haven’t seen any other viable options out there for better rates from my perusing. After the recent rate increases, this is the unfortunate rate I have to accept I think. I was expecting 5%+ and was pleasantly surprised to see less than that.

 

[SucreDeCanne]

I just got approved for 4.9% from RBC for 96mo. I have a large downpayment.

So your order was with the cash option before? And you just submitted the financing in your account in the website and got this rate?

 

[Tony_YYZ]

So your order was with the cash option before? And you just submitted the financing in your account in the website and got this rate?

Yes. I ordered on March 9 and selected cash at the time to complete all the steps because I didn't know when the car would get to me. Got my final payment email today and asked Tesla to unlock the financing portal for me. I applied and was approved within 30 seconds or so.

 

[sokhangoo]

@sokhangoo today is the day! Let us know your experience

Indeed today was the day and my finance rate + conditions didn’t change at all from when I applied at the beginning of March. 3.98% for 96 months with $15K down. So if you have a rate fixed you should be fine if you are within your 90 days. I did not email Tesla Finance regarding my rate either.

 

[mikester6]

Indeed today was the day and my finance rate + conditions didn’t change at all from when I applied at the beginning of March. 3.98% for 96 months with $15K down. So if you have a rate fixed you should be fine if you are within your 90 days. I did not email Tesla Finance regarding my rate either.

Thanks for the update! I’m excited to hear that. May 30th will make 30 days so I have till end of July. I also put 15k down but did 72 months for 4.04%. Congrats on the car! Time to enjoy it now

 

[SucreDeCanne]

Yes. I ordered on March 9 and selected cash at the time to complete all the steps because I didn't know when the car would get to me. Got my final payment email today and asked Tesla to unlock the financing portal for me. I applied and was approved within 30 seconds or so.

congrats you will see your car very very soon

 

[Tony_YYZ]

congrats you will see your car very very soon

Thanks! I have my delivery appointment booked for next week.

 

[vsg055]

Thanks! I have my delivery appointment booked for next week.

Could you share what was your EDD window (4 day with dates) before submitting the financing application? And after how long and how they reached you for delivery appointment once you finished the financing application. Thanks