How did you pay for your model 3?

[pcons]

In anticipation of getting my model 3 sometime in September, and being that I bank with one of the online banks with no physical branch, I called today to see how long it takes to get a certified cheque or money order. 5-7 days. So I figure I would call tesla and see if I have a vin yet...spoiler alert, not yet

But while I had the guy on the phone I asked if it was possible to make an online payment and avoid ordering a bank draft. He told me I could actually pay with a personal cheque (he said he had a customer pay for a P100D by cheque last week....125k usd).

If this is true this is another thing setting tesla apart from mainstream "stealerships"...I've always had to provide a bank draft when picking up my cars. In this day and age it's a pain in the arse to get a certified cheque or bank draft (at least for me....).

So my question is, has anyone in Canada paid by personal cheque in full (or in part) that can confirm this?

I'll ask my DA when I do get a vin, but I don't want to get a call saying my car is ready for pickup in 3 days and I need to scramble to get a draft...I can get one in 1-2 days if I expedite. But if I can just stroll in, write the biggest cheque I'll likely ever write in my life, and drive out with my model 3 that would be the most convenient for me.

I mean, it's not like they couldn't just GPS track the car down and take it back if my cheque bounced

 

[sitter_k]

You should post date your cheque!

When I was in my teens my father thought it would be a good/weird life lesson or something....to get me to write out a multi-million dollar cheque that was about to be certified for a business deal back when certified cheques were a thing. I was only in my teens and had written a total of 2 cheques in my whole life at that point and with my terrible penmanship, combined with my nervousness it looked like a 7 year old wrote a 2 minion dollar cheque. I'm sure there were many laughs as it changed hands.

 

[doubeld]

You've waited this long, another 2 days isn't going to kill you

 

[hingisfan]

If its Simplii, they can usually do it next day via a CIBC, for a draft.

 

[pcons]

If its Simplii, they can usually do it next day via a CIBC, for a draft.

Yeah, but my point is if they will take a personal cheque instead of a bank draft I don't need to do anything. Just write the cheque. Also, expediting the draft takes time because I have to call, go pick it up, and pay the expedite fee (only 27.50...)

But if I can write a cheque I don't need to do any of that. Still seems strange I could write a personal cheque, but the guy on the phone was positive it would be ok. Just wondering if anyone actually did this in Canada or maybe it's a US thing...

 

[Linamani]

But if I can write a cheque I don't need to do any of that. Still seems strange I could write a personal cheque, but the guy on the phone was positive it would be ok. Just wondering if anyone actually did this in Canada or maybe it's a US thing...

They will not take a personal cheque. It has to be a bank draft or certified. I'm with Simplii as well and we called tesla to double check, got a bank draft next day from CIBC per their advice.

 

[sakimano]

In anticipation of getting my model 3 sometime in September, and being that I bank with one of the online banks with no physical branch, I called today to see how long it takes to get a certified cheque or money order. 5-7 days. So I figure I would call tesla and see if I have a vin yet...spoiler alert, not yet

I'll ask my DA when I do get a vin, but I don't want to get a call saying my car is ready for pickup in 3 days and I need to scramble to get a draft...I can get one in 1-2 days if I expedite. But if I can just stroll in, write the biggest cheque I'll likely ever write in my life, and drive out with my model 3 that would be the most convenient for me.

The $27.50 cost and PITA factor is a result of 'saving' all those bank fees. What's the point of these online banks again?

A real bank shouldn't charge you for day to day stuff and if you have the net worth to buy a tesla cash, theyll likely waive most of your fees anyway.

 

[pcons]

They will not take a personal cheque. It has to be a bank draft or certified. I'm with Simplii as well and we called tesla to double check, got a bank draft next day from CIBC per their advice.

Yeah, this is what I was probably going to do anyway....after waiting this long, I don't want to delay pickup when the car finally arrives.

Thinking a bit more about this, maybe the guy I spoke to at tesla who said a customer paid by cheque before didn't realize they paid by certified cheque and not just a normal personal cheque.

Either way, I'll order a draft once I get my delivery scheduled I guess.

 

[SalisburySam]

Not sure about Canada banking regs, but in the country south of you, online banking and Tesla were easy companions. Bank checks (née certified checks) usually have a fee, and take a few days to mail. Better for me, and assuredly for Tesla, is the ability to debit your online account directly by providing the bank’s 9-digit routing number and your account number. The accounts all settle through the automated clearing house (ACH) batch run that evening. No muss, no fuss, no fees, no delays. I did get a text from the bank asking me to confirm the large and uncharacteristic withdrawal, to which I texted back the approval.

By the way, I have to believe that any fee you may have encountered would likely be waived if you have had a relationship with the bank for awhile and you asked nicely.