TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker and becoming a Supporting Member. For more info: Support TMC
Start a Discussionhttps://teslamotorsclub.com/tmc/tags/

Locking in promotional financing

Discussion in 'Model S: Ordering, Production, Delivery' started by yargok, Aug 17, 2017.

  1. yargok

    yargok Member

    Joined:
    Aug 17, 2017
    Messages:
    14
    Location:
    Massachusetts
    New member and I have a question about how financing rates work with Tesla.

    Through September 30, financing is 0.99% through Tesla. When I placed my order a few days ago, Design Center promised end of September delivery so I thought I was all square.

    Today, the order was confirmed and now shows an estimate of October through Early November. This misses the financing window. If i submit my application towards the end of September, does the rate get locked in for 30 days? Any tips for locking in the rate?

    Quite a bit frustrated that I'm holding the risk on the rate when I don't control nor have good information on delivery timing.
     
  2. bonaire

    bonaire Active Member

    Joined:
    Aug 24, 2013
    Messages:
    2,152
    Location:
    USA
    Ask to work with your local tesla store. Consider having them review your options vs. the inventory book. There probably already is a car that is a very near match.
     
  3. boaterva

    boaterva Supporting Member

    Joined:
    Apr 2, 2016
    Messages:
    2,894
    Location:
    Northern Virginia, USA
    I ordered about 10 days ago, and was told before I did by my local SC that 'they still had September production slots' available. Even though the website now (and after I ordered) says 'September-early October', they still say all current orders are in for 3rd quarter (September). I would check with your Delivery Specialist to see their estimate on actual delivery. You still may make the September production/delivery cutoff.

    It still shows 'late September' on the Design Studio, but we all know how it changes once you order. Mine changed from that to, as I said, 'Sept-early Oct'.
     
  4. commasign

    commasign Active Member

    Joined:
    Aug 31, 2013
    Messages:
    1,264
    Location:
    Davis, CA
    Never question a sudden 1-2 month change in delivery estimate, especially around September-November timeframe! It's a sign that a refresh is imminent.
     
  5. mazeminder

    mazeminder Member

    Joined:
    Aug 1, 2017
    Messages:
    52
    Location:
    Toronto, Canada
    I'm in the same boat as @yargok...Are you suggesting (or guessing) the delivery date shows as "Oct - Early November" because we'll get the refreshed version of the car?
     
  6. MacGreiner

    MacGreiner Member

    Joined:
    Oct 12, 2016
    Messages:
    127
    Location:
    MD
    I just got an email from my OA saying that purchases locked in before the end of this week would be honored.
     
    • Informative x 1
  7. commasign

    commasign Active Member

    Joined:
    Aug 31, 2013
    Messages:
    1,264
    Location:
    Davis, CA
    Yes. If last week your estimate was September and then suddenly today it now says October-Early November, that's a good sign that a refresh is imminent. It's not 100%, but based on how Tesla has done things in the past (HW1, refresh fascia, and HW2), those who wait out a delay like this are usually glad they waited. Those that pushed hard for early delivery (escalating and forcing their way into an earlier production slot or taking delivery of an inventory car) are the ones that post here afterwards looking for sympathy because they missed out on some really important new hardware and feel they deserve some sort of retrofit, compensation, or trade-in benefit.
     
    • Like x 2
    • Informative x 1
  8. yargok

    yargok Member

    Joined:
    Aug 17, 2017
    Messages:
    14
    Location:
    Massachusetts
    Yeah, it wasn't that my confirmed estimate changed so much as there was a delay between what is shown in design studio and what is shown once my order confirmed last night.
     
  9. tkdkenny

    tkdkenny Member

    Joined:
    Aug 2, 2017
    Messages:
    35
    Location:
    UK
    With regards to the financing being locked in: in the UK the financing deal is locked when you order and (more importantly) apply for the finance, and is not effected by build / delivery dates.
    I ordered before the end of July to get the 1,5% here, as I was told it would finish 1st Aug. But delivery isn't till late Oct/Nov. Might be different in the US...
     
  10. mandersen

    mandersen Member

    Joined:
    Aug 16, 2017
    Messages:
    86
    Location:
    Woodinville, WA
    I ordered a week ago and My Tesla shows end Sept early Oct, but my delivery agent pinged me today about possibly picking the car up on 9/15. We are picking up in Freemont, CA and road tripping back up to WA The loan promo interest says it expires in 30 days, but my delivery agent said that the promo has been extended for another quarter so I will get the promo rate.
     
  11. Rossy

    Rossy Supporting Member

    Joined:
    Aug 1, 2017
    Messages:
    142
    Location:
    Hillsboro,Oregon
    Don't you have to pay CA sales tax if you pick up in Fremont? That's how I understood it.
     
  12. mandersen

    mandersen Member

    Joined:
    Aug 16, 2017
    Messages:
    86
    Location:
    Woodinville, WA
    That is how I understand it as well, however my delivery agent doesn't think I do. I have asked her to get clarification. If I do the tax rate is 0.25% higher than my tax rate in WA, and I have checked with the WA DOL and I will get credit for tax paid in CA when I register in WA. So it will be a close wash.
     
  13. redy

    redy Member

    Joined:
    Jan 12, 2016
    Messages:
    109
    Location:
    Brooklyn
    Curious about that. Need to verify that as I am in a similar situation to you. Order confirmed 8/11. I was getting concerned about the delivery being after September making me lose the 0.99% financing offer. I haven't finalized the loan cuz its only valid for 30 days. And so I am looking into possible inventory deals to take delivery before end of Sep.

    If its true that they have extended the financing offer, then I can relax a bit. Although waiting is hard.
     
  14. yargok

    yargok Member

    Joined:
    Aug 17, 2017
    Messages:
    14
    Location:
    Massachusetts
    I'll reask the question as well. Let's share back what we hear as well!
     
  15. mandersen

    mandersen Member

    Joined:
    Aug 16, 2017
    Messages:
    86
    Location:
    Woodinville, WA
    So just talked to my delivery agent. Car order was confirmed on 8/10. I have a production start date of 9/19, and they are working on getting me a delivery schedule in Fremont, CA on 9/28. Said I was good on financing, and that he had been told that the promo rate was extended past end of Sept. However I can't get anyone to actually send me a mail stating that.
     
    • Informative x 1
  16. boaterva

    boaterva Supporting Member

    Joined:
    Apr 2, 2016
    Messages:
    2,894
    Location:
    Northern Virginia, USA
    Interesting... same dates for order for my X. Wonder if I have a prod slot about the same? No data yet for me. And X's don't seem to have as 'bad' a schedule extension (Sep-early Oct, not 'Oct-Nov', so probably no 'pending anything' for them. I hope... :D).
     
  17. Damien Sandow

    Damien Sandow New Member

    Joined:
    Aug 13, 2017
    Messages:
    2
    Location:
    NE Ohio
    I was under the impression that if you apply before the end of September you will be locked into that rate for 60 days. It would probably be a good idea to go straight to Alliant though for an answer.
     
  18. Robgs75

    Robgs75 Member

    Joined:
    Aug 20, 2017
    Messages:
    8
    Location:
    San diego
    I applied 7/1 and got 1.49 for 72 months with TD. My model S has been pushed a few times and I wont take delivery until early-mid Sept. I spoke with financing they assured me the rate was good for that car even thought the promotion is now over and there base rate for these terms was now 1.99.
     
  19. mandersen

    mandersen Member

    Joined:
    Aug 16, 2017
    Messages:
    86
    Location:
    Woodinville, WA
    hmm I was confirmed on 8/10 and have a scheduled delivery date of 9/28. Current promo is 0.99% or at least that is what I am locked in at.
     
  20. boaterva

    boaterva Supporting Member

    Joined:
    Apr 2, 2016
    Messages:
    2,894
    Location:
    Northern Virginia, USA
    Did they improve this? I believe Alliant had 0.99 for X and 1.99 for S until end of September, and then that was extended (as usual).
     

Share This Page