I went FVL after ordering on the 26th - they take over your RN and I have a September due date.
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Model 3 PCP
- Thread starter TomD
- Start date
I went FVL after ordering on the 26th - they take over your RN and I have a September due date.
Think I'm going to do the same. Even with the interest free EST loan it doesn't make sense to buy vs lease for me.
FVL said Tesla would refund my £2k deposit, how far are you along that road? Given the chaos at Tesla right now I am wondering if it's safer to cancel my order and have a clean new one via FVL...?
I couldn't answer that - I've just this moment signed on the dotted line with FVL and on my agreement it says that they've taken over my RN number - I'd imagine this would keep me in the queue but... it is Tesla after all.
Good luck with giving Tesla a call as I have been trying from this morning and haven't got through.Share the number of you can get through please.
Taking the Tesla / Black Horse figures I compared it to NVC leases. If Black Horse is correct (which I doubt it is), it's considerably more expensive.
I was pro PCP, but looking at my figures below, I might jump back onto another lease. Cheaper per month plus no Luxury car tax.
I was pro PCP, but looking at my figures below, I might jump back onto another lease. Cheaper per month plus no Luxury car tax.
have a look at this (SR+ 10k - £395/m, £3750 deposit:
Configure your vehicle
Someone else posted about this company so i can not take the credit!
Out of curiosity for those that have used Black Horse, have you received any email/post confirmation of your application being approved? When I applied, the end of the application was 'Someone from your Tesla Service Centre will be in touch to confirm approval' so I got in touch with the salesperson asking if he knew, to which he replied saying all approved. I was kind of expecting some kind of official email with the full breakdown on the finance agreement?
Hi, first time posting here.
Thought I’d signup and share my experience.
I ordered a SR+ and went with hire purchase. I found the Blackhorse figures to be more that Tesla’s quoted figures by around £1500.
I called Tesla and a nice lady on the phone said she’ll do a custom quote through Blackhorse and email me the link with the Tesla prices.
Got the link with correct prices, applied and went through ok.
Didn’t get a confirmation that the finance had been approved for days though. In the end had to call the Tesla delivery centre and ask them if they knew anything. They said yes it’s all been accepted and they can see it’s approved on their system.
So I would give Tesla a call and get them to do a custom quote through Blackhorse for the price shown on their website (if that’s correct now!).
Thought I’d signup and share my experience.
I ordered a SR+ and went with hire purchase. I found the Blackhorse figures to be more that Tesla’s quoted figures by around £1500.
I called Tesla and a nice lady on the phone said she’ll do a custom quote through Blackhorse and email me the link with the Tesla prices.
Got the link with correct prices, applied and went through ok.
Didn’t get a confirmation that the finance had been approved for days though. In the end had to call the Tesla delivery centre and ask them if they knew anything. They said yes it’s all been accepted and they can see it’s approved on their system.
So I would give Tesla a call and get them to do a custom quote through Blackhorse for the price shown on their website (if that’s correct now!).
Yes, I got an email a couple of hours after my application.
My first HP application I heard nothing, and couldn't even get a definite out of Tesla. When I changed it to PCP by calling Stockport directly I got a confirmation of terms within about an hour (the GFV is too high but I don't care.. less cash to find in 4 years).
So it really depends who you're dealing with, which is typical for tesla.
So it really depends who you're dealing with, which is typical for tesla.
Hey guys, great reading what's been going on. Great insight and given me a lot to think about. I was just wondering, I've never financed a car before so was wondering with a PCP what credit score and DP is roughly needed? I know I can afford the car, but don't wanna tank my score if a lender doesn't believe so.
Sorry if this is the wrong place to ask.
Sorry if this is the wrong place to ask.
Scores are only indicative anyway.. lenders use their own criteria, but it's worth spending a bit of time building yours up to avoid disappointment. Pay off what you can, and if you can't make sure you're not borrowing over 50% of your credit limit on cards (increasing your credit limit will actually increase your credit score in this case!).
There is definitive answer what a lender will look at. As a general rule of thumb though a credit score is just a made up number by the credit rating agencies but every lender will have different scoring method. Someone with 999 rating could be declined and someone with 600 could get accepted. Getting turned down for finance on a car will not tank your score though. No one can see whether an application was successful or not. What will reduce your score is if you keep looking for finance after being declined - lots of applications in a short amount of time suggests desperation.
Two important factors with all lenders will be credit utilization - if you have credit cards that would allow you to borrow £30k, then make sure you aren't using most of it (try and stick below 50%) - the more you are using the more at risk you look. The other will be late payments, everyone misses a payment every now and then but if you have more than 1 or 2 in the last year then that is a bad sign to a lender.
RjbT3
Member
Use clearscore.com, it's free, and gives you an overall 'score'. The main thing to address/check is the report at the end.
As already mentioned, staying below 50% credit vs limits is important.
E.g.:
I am not clear on "how" a quote can be judged more expensive than another one based on the monthly payments.
Correct me if i am wrong but the variables in place are
- Deposit
- APR (i.e. interest rate) that is 4.9% for Black Horse, and I am assuming when people say that it is expensive it means that someone else is offering a better APR?
- Number of instalments (i.e. 48 months)
- Residual Value
So...which one is the variable that makes Black Horse PCP more expensive?
For reference my agreed PCP plan (confirmed via mail) used to be this one
For a P+, Black, White interior BEFORE the price reduction.
After the price reduction (roughly £2400 for my specs) Black Horse told me that my monhtly payment will go down to £426 (they didn't send me the other updated values)
A
Correct me if i am wrong but the variables in place are
- Deposit
- APR (i.e. interest rate) that is 4.9% for Black Horse, and I am assuming when people say that it is expensive it means that someone else is offering a better APR?
- Number of instalments (i.e. 48 months)
- Residual Value
So...which one is the variable that makes Black Horse PCP more expensive?
For reference my agreed PCP plan (confirmed via mail) used to be this one
For a P+, Black, White interior BEFORE the price reduction.
After the price reduction (roughly £2400 for my specs) Black Horse told me that my monhtly payment will go down to £426 (they didn't send me the other updated values)
A
The issue is Tesla advertising a PCP cost per month and their finance company (Black Horse) quoting a completely different price per month. The final balloon payments differ on both but the monthly payments are what most base affordability on when looking at PCP/PCH etc.
Lookslike the Blackhorse have updated their website with the correct figures,so Tesla site and Blackhorse site now show the correct monthly payments and residual value.
