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Opting to pay for m3 with cash same as check from bank?

Discussion in 'Model 3' started by nicenoise, Jul 6, 2018.

  1. nicenoise

    nicenoise Member

    Joined:
    Jan 13, 2018
    Messages:
    14
    Location:
    Los Angeles
    I switched my financing preference to cash, but realized I'll probably still be financing through my bank. My question is, isn't a check a check even if it comes from a bank? or will Tesla frown on financing through a personal bank.. Only reason I ask is my financing option doesn't seem to be editable anymore
     
  2. RayK

    RayK Member

    Joined:
    Apr 5, 2016
    Messages:
    504
    Location:
    San Jose, CA
    "Cash" implies a check (cashiers or personal) or a wire transfer for the full amount owed. It also means that you legally own the car. "Financing" implies a loan taken out for the full amount owed and the bank essentially owns the car until you pay off the loan.

    Somewhat different from a legal point of view (I'm not a lawyer).
     
  3. lairdb

    lairdb Member

    Joined:
    Mar 26, 2018
    Messages:
    227
    Location:
    California
    Tesla will be (most states, AFAIK) performing the registration on your behalf, so they need to know if they should include a lienholder.
     
    • Like x 1
  4. thebigbobowski

    Joined:
    Apr 18, 2016
    Messages:
    78
    Location:
    Salt Lake City, UT
    I accidentally hit "cash" when I configured as well and can't edit. I stopped by the store and spoke to a rep who said it's no big deal, I just have to tell them to switch it when they call to set up delivery.
     
    • Informative x 1
  5. nicenoise

    nicenoise Member

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    Jan 13, 2018
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    Location:
    Los Angeles
    Glad to hear. THANK YOU
     
  6. insaneoctane

    insaneoctane Active Member

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    Apr 6, 2016
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    Location:
    Southern California
    My delivery specialist said that they were not accepting personal checks anymore. Rather than push it I just brought a cashier's check.
     
  7. Glamisduner

    Glamisduner Active Member

    Joined:
    Aug 2, 2017
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    Location:
    Escondido, CA
    Where is the Bitcoin option?
     
    • Funny x 1
  8. eSpiritIV

    eSpiritIV Member

    Joined:
    Mar 24, 2016
    Messages:
    421
    Location:
    Portland, OR
    i always understood "cash" as cash or check from a bank, and anything else was a "lease" but apparently since there is not a lease options, they have a different term for it when you finance the cash loan and you have a lienholder
     

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