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My first monthly payment is coming up - where do *you* make your payments?

boaterva

Well-Known Member
Supporting Member
No one has sent you payment info? I would think that is the first thing happening. Alliant sent me clear instructions saying that I needed to send $x every month to this address by x date. I use bank bill pay. It’s their problem how it gets there, electronic or snail mail.

Weird that that wasn’t part of the loan.
 
No one has sent you payment info? I would think that is the first thing happening. Alliant sent me clear instructions saying that I needed to send $x every month to this address by x date. I use bank bill pay. It’s their problem how it gets there, electronic or snail mail.

Weird that that wasn’t part of the loan.
The biggest con finance agencies tend not to tell you how to pay, until it's too late.
 

TaoJones

Beyond Driven
Nov 10, 2014
3,064
3,030
The Americas
Every month, I get 10 wheelbarrows full of pennies (at 107 pounds* each) and enlist the aid of Postmates or Taskrabbit to have them couriered directly to the door of my financial institution. 3 days later, I get a receipt, which I then frame for posterity.

* pennies vary in weight as their design and composition have changed over time. 3 grams is probably a better average. Still means 1 wheelbarrow ain’t gonna do it.
 
I got a
It's 50 degrees outside... what do *you* wear to keep warm? That's an equally ridiculous question.

Is this your first loan? Any clue what bank gave you the money? Did you bother to look at any of the paperwork you signed when you got the car... that might be a good place to start.

Lol, not my first loan, but my first with Tesla, and financed through Tesla Finance LLC

Thing is, for company that allows you to buy a >$100K car by taking a deposit online, their monthly payment system is a bit archaic.
With Toyota, though Toyota/Lexus financing, I had access to all of my account info on a handy app which also allowed me to make monthly payments.

Through Tesla Finance, it's either snail mail, or automatic recurring monthly payments, the latter of which is so late 90s :)
 
No one has sent you payment info? I would think that is the first thing happening. Alliant sent me clear instructions saying that I needed to send $x every month to this address by x date. I use bank bill pay. It’s their problem how it gets there, electronic or snail mail.

Weird that that wasn’t part of the loan.
Why wouldn't you just set up auto-pay with Alliant? If the bill pay doesn't go through, or gets lost in the mail, it is still 100% your fault and you will potentially have a missed payment. I've never used my bank bill pay for anything, I see nothing but downsides over just setting up auto pay with whoever i am paying directly.
 
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boaterva

Well-Known Member
Supporting Member
Why wouldn't you just set up auto-pay with Alliant? If the bill pay doesn't go through, or gets lost in the mail, it is still 100% your fault and you will potentially have a missed payment. I've never used my bank bill pay for anything, I see nothing but downsides over just setting up auto pay with whoever i am paying directly.
I do have Alliant autotransferring the payment; but I pay everything else on autobill pay. If my bank messes up, they are responsible for it. Many things are electronic transfer using bill pay, these days. I know my mortgage and electric bill are. For the things I can, I want to control the payment. And most of them change monthly or annually (mortgage). The car loan is fixed, so, that's good to go for the life of the loan.

I've never had a problem with monthly auto-recurring pay for my car, or house mortgage since I've been using it in over 15 years. You've never used billpay for anything? I don't use anything else. I used to print off Quicken printer checks back in the day; I think the last time I did that was in 1999. Now I might hand write one or two checks a year now. Alliant, I think, is a cheaper rate, if they pull the money, so I let them do it.
 
I've never had a problem with monthly auto-recurring pay for my car, or house mortgage since I've been using it in over 15 years. You've never used billpay for anything? I don't use anything else. I used to print off Quicken printer checks back in the day; I think the last time I did that was in 1999. Now I might hand write one or two checks a year now. Alliant, I think, is a cheaper rate, if they pull the money, so I let them do it.

I've only used bank bill pay for recurring situations that require checks (which has only happened with one recurring bill). Everything else, I use direct debit with whomever is the source of the bill. That spans 4 auto loans, one mortgage, all utilities, all credit cards...
 
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