Model Y Finance Issues.

[DrDiesel1]

I purchased a car using the Tesla finance people. I took delivery on April 3rd.
Finally signed the contract on May 13th.
Still have not received the welcome from the bank. The person handling this step
won't return my emails, when I call and punch his ext.# in, it tells me there is no such number.
I called Tesla finance and they told me he would call me back. That was Friday morning. Still no call ???

When I signed the contract, it showed a payment due on 05/18/2024. Anyone had an issue like this ?
Is there anyone here that can help ? Thanks!

 

[E90alex]

Free car!

 

[DrDiesel1]

Free car!

Works for me!

 

[ucmndd]

The person you were working with was very likely fired in Elon’s rage housecleaning.

I take it you haven’t received anything in the mail from a partner bank? Any new loans listed on your credit report?

I financed two cars through Tesla in the past 6 months, both of them were funded by Chase. YMMV…

A but unclear to me how you managed to take delivery of a car in April and not sign a finance contract for 6 weeks…

 

[jjrandorin]

I purchased a car using the Tesla finance people. I took delivery on April 3rd.
Finally signed the contract on May 13th

A but unclear to me how you managed to take delivery of a car in April and not sign a finance contract for 6 weeks…

My first thought was "Man that is some SERIOUS burying the leade on how someone could possibly take delivery on April 3rd and not sign the contract till may 13th, more than a month later. "

Is there anyone here that can help ?

TMC isnt affiliated with Tesla, this is a third party site so there isnt anything anyone here can do to help with a personal finance issue between you and Tesla. You probably need to keep contacting Tesla Financial, if you have a number for them.

 

[DrDiesel1]

My first thought was "Man that is some SERIOUS burying the leade on how someone could possibly take delivery on April 3rd and not sign the contract till may 13th, more than a month later. "


TMC isnt affiliated with Tesla, this is a third party site so there isnt anything anyone here can do to help with a personal finance issue between you and Tesla. You probably need to keep contacting Tesla Financial, if you have a number for them.

Yes, I have a phone number. Thanks!

 

[DrDiesel1]

The person you were working with was very likely fired in Elon’s rage housecleaning.

I take it you haven’t received anything in the mail from a partner bank? Any new loans listed on your credit report?

I financed two cars through Tesla in the past 6 months, both of them were funded by Chase. YMMV…

A but unclear to me how you managed to take delivery of a car in April and not sign a finance contract for 6 weeks…

Being fired was my first thought The guy handling it is a dim bulb, IMO!

 

[whydontwe]

I had a situation where Tesla was unable to process my down payment for a loan, this was back in 2021. I kept quiet. A year later I got a call from Tesla to pay the down payment and they said I could pay it over 6 months, lol. Odd company.

 

[Fairchild]

BUYER BEWARE:

I found financing for my Model Y, at a very competitive rate with Digital Federal Credit Union (DCU).
The rate was good, but the process to get on board was atrocious. It took weeks and quite frankly wasn't worth the effort.

After "surviving" the onboarding torture, I found out that they didn't accept my bank (PNC BANK) and I had to call them each month to make a payment through their Western Union Speed Pay. I dutifully called each month, complete with a $10 processing fee.

Tolerating all of that would have been the easiest part. In April, I did my usual call and they processed my payment through Speed Pay. I got an email receipt of the payment and life went on. In May, just as I was about to call with May's payment, I got a notice from Credit Karma that my credit rating had dropped.
I checked and my credit rating dropped 78 point from above 800, because DCU had reported a missed payment. I am proud of never having a late payment in 31 years.

I called them and they said, "Sometimes these payments don't go through, even after they say they go through. Not our fault." I made two payments and brought the account current. I filed contested challenges with Credit Karma, and with the credit union (DCU) explaining that I had a receipt for my payment and also asking them why they didn't contact me by phone, text, email or carrier pigeon. "Not, our fault."

Disgusting practices
Non-existent customer service
An embarrassment to Credit Unions.
They should not be recognized as a professional business.

I will also be report them to the National Association of Credit Unions.

STEER CLEAR

SET AUTOPILOT TO AVOID THEIR TOLLS

AVOID AT ALL COSTS!

 

[DrDiesel1]

Credit Karma is a scam! They never tell you your accurate credit score.

 

[DrDiesel1]

So I get a text from Tesla's finance resolution team today. They said that the loan was sent to the
lender and they will send me the welcome pack. They also said that my first payment was over due,
so they made the payment for me. What a bunch of incompetent idiots!

How can it take 60 days to complete a lending agreement. This is ridiculous, IMO!

 

[Fairchild]

So I get a text from Tesla's finance resolution team today. They said that the loan was sent to the
lender and they will send me the welcome pack. They also said that my first payment was over due,
so they made the payment for me. What a bunch of incompetent idiots!

How can it take 60 days to complete a lending agreement. This is ridiculous, IMO!

You may want to try a Credit Karma loan!

 

[Fairchild]

Credit Karma is a scam! They never tell you your accurate credit score.

I have used Credit Karma for 10 years. They alert me to any actions taken on my account. And the best part is, it is FREE.
I wouldn't have known about the above mess, had it not been for Credit Karma.

Multiple credit bureaus report various scores and there are also FICO scores, so the scores will always vary.

 

[DrDiesel1]

I have used Credit Karma for 10 years. They alert me to any actions taken on my account. And the best part is, it is FREE.
I wouldn't have known about the above mess, had it not been for Credit Karma.

Multiple credit bureaus report various scores and there are also FICO scores, so the scores will always vary.

So how do you think, FREE is a viable business plan ?

 

[ucmndd]

So how do you think, FREE is a viable business plan ?

It’s a perfectly viable business plan - so viable it’s employed all over the place in the tech sector.

Of course they’re using your data and making kickbacks from others by marketing cards/loans/services to you. Like most other “free” services, you are actually the product, not the customer - but that doesn’t mean you can’t get value from it.

 

[DrDiesel1]

LOL! Value.

 

[ucmndd]

LOL! Value.

Do you not get value from say Google search? Same is same. In any case the business model is quite clearly “viable”, these are some of the biggest companies in the world.

 

[Destiny1701]

How’s this for a story?

Tesla Canada.
I bought a 2021 M3 SR and financed it.
Picked up the car. They never had me sign any papers so figured I’d wait for someone from Tesla to call me back within a few days…nope. Few weeks? Nope
A month to 6 weeks…nada.

So I called them and asked them what’s going on. They said they’ll look into it and get back to me. 2 months go by…nada again.

I went into my local SC and explained it and they said again ‘ok we’ll get in touch with Finance and track this all down’. Great.
2 more months …nothing. I’m now almost 6 months in and decided to sell the car as prices skyrocketed and used market was up about 13k. When I sold there was zero lien registered on the car. So I sold it and actually went into my local SC as I had bought a 22’ LR 3 anyway. I explained to them to I sold the car now with cash in hand so not sure what to do. They were a bit more confused this time but assured me they’ll get someone to reach out ASAP given the car was no longer in my possession. I offered to pay them on the spot for it as the sale proceeds were not mine (other than the profit portion).

Month 8 and finally get a call from Tesla explaining huge error and they need either the car back or to sign the papers. When I explained what happened and that I’ve tried tried to resolve this from day 1, they decided to allow me to pay off the original value of the car without any interest and without and fees. So net effect is I paid them the cash for my original price 8 months earlier and kept the profit diff from the sale. And drove the car for for 6 months for free.

This is Tesla! Lol. Don’t get me started on how amazing leasing MS was back in 2015-17 with their own discounts counted as a capital cost reduction/downpayment lol.
Ie. 55k (cnd) discount on a P100D demo with 2k km on it…and counted as 55k down payment on their own lease! Unreal.

I’ll go into it if anyone interested to know how ridiculous Tfinance was lol

 

[DrDiesel1]

Do you not get value from say Google search? Same is same. In any case the business model is quite clearly “viable”, these are some of the biggest companies in the world.

They are deceiving you! Gaslighting is not value, and you can't see that.

 

[Fairchild]

They are deceiving you! Gaslighting is not value, and you can't see that.

Great value from Credit Karma (owned by INTUIT). They use information that's readily available to the credit services anyway. I like being able to see my credit history back to the day I was born. All the houses, all the cars, all the travel, all the wives (not really), and a complete credit history showing no late payments for 31 years, of course until the illustrious Digital Credit Union came along.

Credit Karma has offers that match your credit history. Low-rate cards, better home financing, cheaper auto loans, cheaper insurance, NO HASSLE LIKE DCU, and most important to me, they alert you when someone, like DCU is trying to rip you off. What's not to like, for FREE? They make money off of those who pursue their offers. It's veryy nice to have all of your credit history in one secure place. They even offer a NET WORTH calculation package. It has been of great value to me.

My CYBERTRUCK will be here next week, and instead of financing it with DCU, as I had planned, I will pay cash for it. Their loss. Behavior has consequences.
I will be selling my Model Y and paying off the current DCU loan, as well. Suck it up, DCU. Done with you. You can rip off someone else.
BEWARE and AVOID.

No one's forcing anyone to sign up for anything. Just sharing a positive experience with Credit Karma.
If you don't like it, you might want to try the Diesel Blog.