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MCO/Title for Financing Issue

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Hi everyone. Ordered my model 3 last Sunday and am going through a local credit union here in New Mexico for financing. They are insisting that Tesla provide either Title or MCO prior to payment being issued.

Has anyone else run into this and if so is it easily resolved? I spoke with the Sales Manager at the Littleton, CO office yesterday and he said he’s never heard of this issue. I’ve tried taking this as high as the Loan Manager at my credit union and they won’t budge on this.
 
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That is strange. I ordered through Littleton as well so I trust them. Have you considered another lender or do they offer something really awesome. There is the potential for you to have quite a bit of time to shop around before delivery. A quick search for “financing” under model 3 will provide you with some additional options from this forum. Best of luck to you.
 
How much of a history do you have with the credit union?

Back when I financed my range rover sport, I initially was trying to go through my local credit union with work. I opened an account that morning because they have better rates than Bank of America. But since I didn’t have any credit history with them, they were demanding all sorts or paperwork and title from Land Rover prior to issuing a check.

luckily the dealer just asked what their rate was and just matched it to save me all the headache. I know Tesla won’t do that, but it may be the reason this small credit union is asking for it.
 
Hi everyone. Ordered my model 3 last Sunday and am going through a local credit union here in New Mexico for financing. They are insisting that Tesla provide either Title or MCO prior to payment being issued.

Has anyone else run into this and if so is it easily resolved? I spoke with the Sales Manager at the Littleton, CO office yesterday and he said he’s never heard of this issue. I’ve tried taking this as high as the Loan Manager at my credit union and they won’t budge on this.

I ran into the same issue with my credit union in Columbus, Ohio. They will not finance Tesla’s because of this issue. I ended up going through Tesla, who financed through US Bank at the advertised 2.49% rate.