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Payment question

Discussion in 'Model S: Ordering, Production, Delivery' started by Relpek45, Aug 17, 2014.

  1. Relpek45

    Relpek45 Member

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    Hello all
    Time to get a new car and looking much at tesla. With payment what is due at signing? Looking to buy not lease. Never had a car ordered. Is the initial payment due at signing or paid over period until it gets there or upon arrival? Is it always 10% or can it be less? How many months will they finance it over? Thanks much.
     
  2. Chickenlittle

    Chickenlittle Active Member

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    That's a great question but should be addressed to tesla. Answers on a forum don't mean much. Also depends on state, options etc. not a pressure situation, can call tesla to find out
     
  3. Merrill

    Merrill Active Member

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    The
    Do not know about financing, paid for mine. Once you configure your car on line it shows you your total cost less the $5000 deposit. I picked mine up at the factory and gave them a check for the balance at that time.
     
  4. tiblot

    tiblot Member

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    If you buy the car, payment in full is required. Either by you or by a lender.
    The actual amount you have to put down is determined by your lender. Lenders have different terms. The two best I saw in May when I paid was:

    DCU @ 100% financing, .99%, 65 months
    Alliant @ 95% financing, 1.49%, 72 months
     
  5. Relpek45

    Relpek45 Member

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    Thanks much. Any other purchasing with financing stories here? Can you pay at pickup or does it have to be when you ordered? Ty
     
  6. Relpek45

    Relpek45 Member

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    So you paid the $5000 at pickup months later? Thanks
     
  7. astrotoy

    astrotoy Member

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    No, the $5K is the deposit required at the time of the order. The balance is due at pickup or delivery. You can use a CC for the initial $5K deposit on line. I just paid with a personal check for the balance, no CC's allowed.
     
  8. Relpek45

    Relpek45 Member

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    Thanks. I thought 10% down is a requirement for purchasing. Can you get them to stretch out the term beyond 72 months? Thanks so much all
     
  9. Ed Chan

    Ed Chan Member

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    Tesla financing is minimum 10% down, excluding tax and fees, and maximum 72 months. Other banks/credit unions have different terms, some with 120% financing, and some with 84 month pay periods. Also, the required deposit to order is $2500, not $5000.
     
  10. galangg

    galangg Member

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    $2500 down as deposit. The rest at delivery; either financing or cash (check, etc). In other words, just like any other car purchase at delivery.
     

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