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Model S - Financing & Fees

Discussion in 'Model S' started by ggr, Mar 23, 2012.

  1. ggr

    ggr Roadster R80 537, SigS P85 29

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    From the contract: "No Cancellation. Once you execute this Agreement, the deposit in item 4.E above (if any) becomes nonrefundable (not to exceed $10,000), and this Agreement is binding and you may not cancel [...]. If you fail or refuse to accept delivery of the Vehicle, we may retain as liquidated damages any cash downpayment or deposit made by you, to the extend not prohibited by law. We may reimburse ourselves for any expenses and losses we incur or suffer as a result of your failure or refusal. Such expenses may include our reasonable attorneys' fees, reasonable collections fees, and court costs."

    My (IANAL) reading of this is that if all you gave them as a deposit was $5k, that's pretty much all you can lose. I don't think they necessarily would ask for more.
     
  2. ggr

    ggr Roadster R80 537, SigS P85 29

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    Fees are the same either way.
     
  3. ggr

    ggr Roadster R80 537, SigS P85 29

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    I didn't ask. But part of what I quoted above, where I had put the [...], was "We do not offer installment financing. This agreement is not conditioned on you obtaining financing from other sources."
     
  4. gg_got_a_tesla

    gg_got_a_tesla Model S: VIN P65513, Model 3 Res Holder

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    Thanks! Now, to start getting cozy with my credit union officer once again...
     
  5. ElSupreme

    ElSupreme Model S 03182

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    Yeah I should probably talk to USAA about getting pre-qualified before my pow-wow with Tesla.
     
  6. KBF

    KBF Model S 2017

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  7. NigelM

    NigelM Recovering Member

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    Ummmm, Doug can still hear (uh, read) you......
     
  8. doug

    doug Administrator / Head Moderator

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    Doug is happy have helpful help. :)
     
  9. bonnie

    bonnie Oil is for sissies.

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    Might be a good time to ask for a raise!
     
  10. AnOutsider

    AnOutsider S532 # XS27

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    70% of $0 sounds about right
     
  11. Blurry_Eyed

    Blurry_Eyed MS Sig #267, MX Sig # 761

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    Just received an email from Tesla announcing that Wells Fargo will be working together to provide financing for the Model S. The announcement goes on to state: 'While the relationship is not exclusive, Wells Fargo is the first financial institution to back financing for the Model S.'

    Being that this is the first official announcement of Model S financing from Tesla, I suspect if you rush out to your local Wells Fargo branch tomorrow, you may be greeted with blank stares as the person at the branch scrambles around to see if the above is indeed true...
     
  12. Lloyd

    Lloyd Active Member

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    I'm not getting any of these e-mails! Is there any mention of Leasing?
     
  13. NigelM

    NigelM Recovering Member

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    I added the emphasis.
     
  14. Blurry_Eyed

    Blurry_Eyed MS Sig #267, MX Sig # 761

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    #15 Blurry_Eyed, Jun 21, 2012
    Last edited: Jun 21, 2012
    This was an email pushed through their investor relations department. I signed up through the investors section of their website to receive announcements, so it wasn't pushed through the retail side of Tesla. No mention of leasing in the email.
     
  15. NigelM

    NigelM Recovering Member

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    The gist of the mail is the piece I quoted above. The rest is: Tesla is great, Model S is great, Wells Fargo is great - usual stuff for an investor mail. Seems like it's enabling financing for you to purchase but is not offering leasing yet.
     
  16. bonnie

    bonnie Oil is for sissies.

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  17. Lloyd

    Lloyd Active Member

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    Thx,

    Done
     
  18. andbou29

    andbou29 Member

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    when the prices of the Tesla S in the European countries are known mercy
     
  19. VolkerP

    VolkerP EU Model S P-37

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    In case this was a question: EU pricing comes this fall. With Tesla's unique interpretation of the Gregorian Calendar, that might be in November, though.
     

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