Sorry for delay, sure, I pay $142 per month for full coverage - 5yr replacement, max rental of $3000 in case of accident, etc etc etc, I check all the boxes lol. Plus Comprehensive/Collision $500 deduct
If you are within 1~2 months for delivery, accept the rate now and most likely it will be honored. Even though the terms on the website is telling rates are only secured for 30 days and acceptance for 90 days, my experience through 9 months of waiting is that they both expired at 90 days, I was able to take delivery just now with a 5.5% rate I secured from my last application back in Aug 30, without even asking, since my application is still within the 90 days, Tesla just accept all terms and rates as is.
You could email tesla finance and ask if they can switch you to the lower rbc rate, but I wouldn’t hold out for a lower rate to come along besides that.
The loan is open, you can just do a lump sum anytime you want.
The more you put down the lower the payment. Just be sure to finalize your intentions for Finance BEFORE you head to Tesla for delivery. They can't change it there (Delivery Centre)
I paid with a bank draft last time, they just grabbed the draft after we inspected and we were good. Will do it that way again this time, felt like we were more in control in the transaction — even though it was mostly financed.
Unfortunately I won't have the lump sum until after I take delivery, which is why I'm wondering how to go about applying the lump sum and lowering the monthly payments after the fact. I'll probably have to refinance I suppose.
And unfortunately they won't do that. Ya you'd have to get a loan from your bank, pay off the Tesla loan, and refinance. Sounds like a headache unless it's an extreme lump sum like half or something.
I just spoke with RBC who confirmed that I actually can apply a lump sum and adjust the monthly payments after taking delivery, so that's a sigh of relief. Even said it can be done via online banking without calling in.
Yup, i'm with RBC and when you login you can adjust your payment to be more and even change the payment frequency/date with the click of a button. I've had to change my payment to be a day early, everytime i said for a friday withdrawl it would always come out on Monday. And i rounded my payment up to a nice even number (extra just goes on the principal)..
