Options To Select During Configuration if Not Financing Through Tesla

[MKandyman]

Hello All - As I look forward to configuring my Model 3, I noticed in the various descriptions and videos of the configurator that you need to select either "Cash" or "Financing" when ordering. My assumption was "Financing" means financing through Tesla, however I wanted to have the option to get outside financing to get the best rate possible.

Does anyone have any insight as to the rules of the different options? If I select cash can I show up to delivery with a check from another financing company? Or should I select financing? I really don't want to delay configuration as I want my car ASAP .

Thanks in advance!

 

[shokunin]

They give you 3 choices,

Cash
Loan through tesla
Finance with your own bank or credit union

 

[TimM.]

They give you 3 choices,

Cash
Loan through tesla
Finance with your own bank or credit union

That's not what Ben saw on his reservation page here (start around 4:30):

I have the same question as the OP based on that video.

 

[Troy916]

Ben's video did not go into the Loan section. see 4:57 in the video

 

[Foxhound199]

I'm a little confused. Do we need to know for sure how we plan on financing the car at configuration? My process would be configure the car, then see what loan rates the banks can offer, then compare to Tesla's rate, and choose based on that.

 

[Az_Rael]

I chose to finance via Tesla on the website, but ended up financing via my own bank once I got quotes.

If you choose finance via Tesla, you will get a quote from their partner. If you don't like it, you just let the sales rep know and they turn it off and let you finance via your own bank.

 

[run-the-joules]

I chose to finance via Tesla on the website, but ended up financing via my own bank once I got quotes.

If you choose finance via Tesla, you will get a quote from their partner. If you don't like it, you just let the sales rep know and they turn it off and let you finance via your own bank.

How long after you configured did Tesla have you do the credit application?

 

[Az_Rael]

How long after you configured did Tesla have you do the credit application?

Within a week for my 3 because it was already built when I finished configuring. But in the past, they don't trigger that for a few weeks on my prior cars. (I waited 6-8 weeks for delivery on the two CPOs)

 

[run-the-joules]

Within a week for my 3 because it was already built when I finished configuring. But in the past, they don't trigger that for a few weeks on my prior cars. (I waited 6-8 weeks for delivery on the two CPOs)

Thanks. Do you mind giving the rough timeline and elapsed days for order -> financing -> VIN -> delivery? Not sure if you got VIN first or anything.

 

[Az_Rael]

Thanks. Do you mind giving the rough timeline and elapsed days for order -> financing -> VIN -> delivery? Not sure if you got VIN first or anything.

Sure!

12/14: Got invite to configure - 4 week delivery estimate. Selected to delay for AWD
12/21: Wrecked my Model S :-( Configured and finalized Model 3 order
12/23: Called by Tesla to see if I could take delivery before end of year (!) Was traveling, so couldn't. My VIN showed up in My Tesla around this timeframe. .
12/27: Asked to finish filling out info in My Tesla (registration, drivers license) and to apply for financing through Tesla. Applied for loan with my local CU.
12/28: Got offer from Tesla financing, but it wasn't as good as CU, so let them know I wasn't interested.
1/2 - 1/5: Lots of back and forth getting final MVPA set up so that CU was happy and would release check. Finally got everything settled Friday afternoon
1/6: Delivery!

 

[run-the-joules]

Sure!

12/14: Got invite to configure - 4 week delivery estimate. Selected to delay for AWD
12/21: Wrecked my Model S :-( Configured and finalized Model 3 order
12/23: Called by Tesla to see if I could take delivery before end of year (!) Was traveling, so couldn't. My VIN showed up in My Tesla around this timeframe. .
12/27: Asked to finish filling out info in My Tesla (registration, drivers license) and to apply for financing through Tesla. Applied for loan with my local CU.
12/28: Got offer from Tesla financing, but it wasn't as good as CU, so let them know I wasn't interested.
1/2 - 1/5: Lots of back and forth getting final MVPA set up so that CU was happy and would release check. Finally got everything settled Friday afternoon
1/6: Delivery!

Gotcha. Thanks!

 

[smak]

Where do you go to manage your car loan if financing through Tesla? Somewhere on the Tesla site, or through the company that did the finance?

 

[mklcolvin]

Our site just shows 'Cash' and 'Finance through your bank or credit union' as possible choices. It doesn't show financing through Tesla as a possible choice. Has anyone else seen this?