Forced Loan from Tesla Bank?

[wattweng@gmail]

This morning I ordered Tesla Y for my wife and used the default loan of 72 months with 6.X% interest rate. But, late Tesla Bank denied the loan, so we changed to cash oder. After the lunch, a new message from Tesla bank said proved the loan but with 8.1%. We said we do not need the loan anymore and pay the cash. But, the message insist we to get the loan with 8.1% rate.
Beside feel totally ridiculous, I am wondering what are my options: 1) Can I still pay with cash? 2) If the Tesla bank force us to get the 8>1% rate loan, can we simply cancel the order and get that $250 back?
Thanks in advance.

 

[jjrandorin]

You can always pay cash, so I am not sure what you mean here. As for "Can I get the $250 order fee back?" in general that answer is "no".

 

[wattweng@gmail]

You can always pay cash, so I am not sure what you mean here. As for "Can I get the $250 order fee back?" in general that answer is "no".

Thanks. In the app finance section it show rate 8.19% and months etc, ask us to "confirm". we do not want this high rate but no button to deny this loan offer. This section stuck there and seems like the order is not completed and thus no deliver. I am calling Tesla phone now and waiting.

 

[Mateo83]

Use the chat option on the tesla site, they can usual fix it on the back end.

 

[TesLEEZ]

Use the chat option on the tesla site, they can usual fix it on the back end.

Yep, use the chat option in the app and explain the situation. They can sort it out on the backend.

 

[ThomasD]

You could just get the car with the loan then when you get your first payment just pay the car off. The average new car loan interest rate is just over 6% right now.

 

[TypeX]

This morning I ordered Tesla Y for my wife and used the default loan of 72 months with 6.X% interest rate. But, late Tesla Bank denied the loan, so we changed to cash oder. After the lunch, a new message from Tesla bank said proved the loan but with 8.1%. We said we do not need the loan anymore and pay the cash. But, the message insist we to get the loan with 8.1% rate.
Beside feel totally ridiculous, I am wondering what are my options: 1) Can I still pay with cash? 2) If the Tesla bank force us to get the 8>1% rate loan, can we simply cancel the order and get that $250 back?
Thanks in advance.

Rather than deal with the hassle of chasing them down, isn't it easier to just cancel the car and redo it for the same or similar spec and just do it as cash.

You seem to be processing the simple steps too fast and messing yourself up on the back end.

 

[wattweng@gmail]

Rather than deal with the hassle of chasing them down, isn't it easier to just cancel the car and redo it for the same or similar spec and just do it as cash.

You seem to be processing the simple steps too fast and messing yourself up on the back end.

Thank you all for the suggestions. I called Tesla customer service phone line, but waited an hour with no one available. I will try the chat option tomorrow but may only available for customers who already have the cars.
After I thought it again, I feel strongly Tesla order system have big problems.
When people first choose the option, say, loan, we do understand the rate is not guaranteed and Bank may deny the loan. It is fine. But, after Tesla bank denied the initial loan choice, it should give customer the option again change to lease or cash but it didn't allow the change. Instead, Tesla Bank late provide higher rate loan and ask customer to confirm but no other options. If I did not confirm that 8.19% loan, the order seems like not completed.
the system should give people to deny higher rate loans option, then go back to options for the customers to choose either lease or cash. Frankly, I do not know the way order system structured was just a burg or deliberately design that way to force, at least seduce, people into higher rates. For some people who has not enough cash may say what hell and simply confirm that higher rate 8.19%. In my case, I do have cash or simply sale some Tesla stocks and thus did not confirm that ridiculous higher rate. I am going to generate formal complaints to BBB and department of Consumer Protection for this illogical order system.

 

[wattweng@gmail]

Rather than deal with the hassle of chasing them down, isn't it easier to just cancel the car and redo it for the same or similar spec and just do it as cash.

You seem to be processing the simple steps too fast and messing yourself up on the back end.

Well. I thought exact same way as you suggested, cancel and re-order it. But, cancel will lose that $250 fee and try to save that money.

 

[father_of_6]

After I thought it again, I feel strongly Tesla order system have big problems.
When people first choose the option, say, loan, we do understand the rate is not guaranteed and Bank may deny the loan. It is fine. But, after Tesla bank denied the initial loan choice, it should give customer the option again change to lease or cash but it didn't allow the change.

There are definitely edge cases like this that aren't handled well, but I disagree that it's "big problems".

Tesla likes to handle customer communication asynchronously, as it costs them *MUCH* less. Instead of calling and sitting on hold, just send a message in the app.

 

[wattweng@gmail]

There are definitely edge cases like this that aren't handled well, but I disagree that it's "big problems".

Tesla likes to handle customer communication asynchronously, as it costs them *MUCH* less. Instead of calling and sitting on hold, just send a message in the app.

Did sent the message in app immediately then, but still no respond after almost 10 hours by now.

 

[father_of_6]

It's been almost 3 years since my purchase, so I don't *exactly* remember everything, but that doesn't sound abnormal in the typical Tesla purchase experience.

We had a 7 hour drive to pick up our Model 3. We booked a hotel near the Mt Kisco location for the night before, with our pickup appointment earlyish the following morning.

The day before pickup, they still didn't have the car. They said it showed as everything was on track, but they couldn't be certain the car would actually be there on the day of pickup. We decided to take the gamble and drive there, fingers crossed. Everything worked out well and was right on time, but it was definitely nothing like buying from a dealership.

Also unlike buying from a dealership, I never felt an ounce of pressure, didn't have to speak with an F&I sleezeball, and didn't have to spend 5 hours over 3 days chit-chatting with a salesman just to buy something for sale.

Gotta take the good with the bad. Just be patient, someone at Tesla will attend to this matter and all will be well.

Congrats on the awesome car!

 

[jkdman123]

Yes the order process has much unneeded friction and needs to be fixed. The issue is that even small things like this can stop the process dead in its tracks and given that they do the asynchronous responses, it takes extra time to get them fixed. Had several stupid issues that came up during the order process of my MYLR in Sept and all of them were silly and shouldn't have happened and eventually caused me to reschedule my pickup day. Considering that the company pushes customers to do EVERYTHING online (including ordering and servicing), they have not developed a robust system for doing that. But since Tesla is probably lightyears ahead of anyone else in this area, despite the unnecessary hiccups, don't expect it to change any time soon.

OP, they will fix the issue on the back end. It may just take some time. Luckily, one of my first chat messages had a phone number to call. I got a different person each time I called, but they were at least able to look up my order quickly and then push the issue to the right person so that it eventually got fixed. But this happened WAY too much for it to be considered 'efficient'.

 

[father_of_6]

But this happened WAY too much for it to be considered 'efficient'.

It is though, because a small number of employees can service the millions of orders across a country... the orders just have to wait their turn in the queue.

The alternative is... you walk into a dealership and some guy who's been sitting on his hands for two hours pops up and runs to meet you at the door. He'll then spend two hours chatting about your favorite sports team, your family, your job and social identity. He'll make sure all of your paperwork is correct. He's your new buddy. And for that service, you'll pay him $800 and his boss another $1,200.

 

[jkdman123]

It is though, because a small number of employees can service the millions of orders across a country... the orders just have to wait their turn in the queue.

The alternative is... you walk into a dealership and some guy who's been sitting on his hands for two hours pops up and runs to meet you at the door. He'll then spend two hours chatting about your favorite sports team, your family, your job and social identity. He'll make sure all of your paperwork is correct. He's your new buddy. And for that service, you'll pay him $800 and his boss another $1,200.

I'm not talking about efficient for *them*. I'm talking about me. The experience for me, frankly, s u cked. Especially given that they initially give you a fairly short window in which to get everything done and schedule the pickup (3 days from accepting the order), and then the process grinds to a dead halt while you're waiting for them to clear some stupid error that should never have happened.

God forbid someone the least bit technically challenged went through what I did, they would have just cancelled the order.

 

[father_of_6]

OIC... totally read that backwards.

 

[wattweng@gmail]

Yes the order process has much unneeded friction and needs to be fixed. The issue is that even small things like this can stop the process dead in its tracks and given that they do the asynchronous responses, it takes extra time to get them fixed. Had several stupid issues that came up during the order process of my MYLR in Sept and all of them were silly and shouldn't have happened and eventually caused me to reschedule my pickup day. Considering that the company pushes customers to do EVERYTHING online (including ordering and servicing), they have not developed a robust system for doing that. But since Tesla is probably lightyears ahead of anyone else in this area, despite the unnecessary hiccups, don't expect it to change any time soon.

OP, they will fix the issue on the back end. It may just take some time. Luckily, one of my first chat messages had a phone number to call. I got a different person each time I called, but they were at least able to look up my order quickly and then push the issue to the right person so that it eventually got fixed. But this happened WAY too much for it to be considered 'efficient'.

You are absolutely right. At one point, I told my wife just forget about Tesla and go with others. Good news is after three and half days waiting, we finally get the message respond in app from Tesla saying " do not worry, and we will change your order to cash."
saving money? Tesla can easily add more staffs in Shanghai office to respond messages in app, but apparently did not.
My initial experience and feeling can be described as " Great idea, good technology, average car, and terrible service".
Thank you all for the suggestions and comments.

 

[jkdman123]

You are absolutely right. At one point, I told my wife just forget about Tesla and go with others. Good news is after three and half days waiting, we finally get the message respond in app from Tesla saying " do not worry, and we will change your order to cash."
saving money? Tesla can easily add more staffs in Shanghai office to respond messages in app, but apparently did not.
My initial experience and feeling can be described as " Great idea, good technology, average car, and terrible service".
Thank you all for the suggestions and comments.

I'm glad it worked out. They know that their system is basically hot garbage at this point so they were always accommodating when an issue came up. But when first starting, the system is very impersonal and they when you hit a stupid snag it doesn't leave you with a feeling that it will get fixed easily.

I completely understand that the ideal for the system of a seamless buying experience, to include a trade-in will be very hard to achieve. But that makes it incumbent on the company to reassure the customer that the issue will be resolved, which it definitely does not do.

 

[wattweng@gmail]

I'm glad it worked out. They know that their system is basically hot garbage at this point so they were always accommodating when an issue came up. But when first starting, the system is very impersonal and they when you hit a stupid snag it doesn't leave you with a feeling that it will get fixed easily.

I completely understand that the ideal for the system of a seamless buying experience, to include a trade-in will be very hard to achieve. But that makes it incumbent on the company to reassure the customer that the issue will be resolved, which it definitely does not do.

Yes. Now, App asking for proof of insurance that is fine. A little trouble is the insurance effective day as " the deliver day" which I had no idea it is. Thus, I just put Nov 24, 2023 and see if it is ok. After I submitted the proof of insurance, now App asking for the cash price about $60k. It says " pay it now to avoid the possible delay of delivery". But, my understanding is buyers pay the day of the deliver. Am I right? or Tesla purchasing is different we should pay in advance? need your advise and thanks in advance.

 

[jjrandorin]

Great idea, good technology, average car, and terrible service"

If this is how you feel about the car, then you might want to re consider going through with the purchase.

But, my understanding is buyers pay the day of the deliver. Am I right? or Tesla purchasing is different we should pay in advance? need your advise and thanks in advance.

This depends on where you are. You mention:

Tesla can easily add more staffs in Shanghai office to respond messages in app, but apparently did not.

But "shanghai office" has nothing to do with any Tesla delivered in the US. Even in the US, whether you have to pay ahead of time or not depends on what state in the US you are. "Most" states in the US allow you to pay when you pick up the car. Those that do not allow direct sales, dont. I have no input about outside the US (which is where all "shanghai" vehicles are delivered.)