Locking in promotional financing

[yargok]

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.

 

[bonaire]

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.

 

[boaterva]

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'.

 

[commasign]

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.

 

[mazeminder]

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.

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?

 

[MacGreiner]

I just got an email from my OA saying that purchases locked in before the end of this week would be honored.

 

[commasign]

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?

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.

 

[yargok]

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.

 

[tkdkenny]

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...

 

[mandersen]

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.

 

[Rossy]

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.

Don't you have to pay CA sales tax if you pick up in Fremont? That's how I understood it.

 

[mandersen]

Don't you have to pay CA sales tax if you pick up in Fremont? That's how I understood it.

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.

 

[redy]

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.

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.

 

[yargok]

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.

I'll reask the question as well. Let's share back what we hear as well!

 

[mandersen]

I'll reask the question as well. Let's share back what we hear as well!

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.

 

[boaterva]

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.

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... ).

 

[Damien Sandow]

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.

 

[Robgs75]

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.

 

[mandersen]

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.

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.

 

[boaterva]

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.

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).