Question regarding final payment to Tesla and Loan Payment/MVPA

[Slumpey326]

I am scheduled to take delivery on my model 3 on 11/17. On mytesla page it notes I owe around $1,800 (not financed) and the rest ($51,000) will be a loan thru credit union. Do I need to pay the $1,800 ahead of time or if I pay on delivery, how do I pay it? Via a bank check made out to who? Also I am thinking now that I want my loan to be $50,000 and I pay $2,800 at closing. Does mytesla page need to be updated to reflect that or can I just bring a check for a bigger amount and the loan payment will be $1000 less.

 

[ckoval7]

You should be able to pay the $1800 via ACH through Tesla's website on your account page. I paid a much bigger chunk than that electronically with no issues.

 

[Slumpey326]

yeah I saw that but if I wanted to pay $1000 more will it let me. If I dont want to pay it beforehand, can I pay the remaining amount the day of delivery. Do people do that, if so how?

 

[ZoomDoggie]

I took my checkbook on a whim thinking I'd do the ACH at the delivery but at least my tracking and account numbers would be handy. They were happy to take my check.

Depending on if it's a push/pull from my credit union account I do have a daily limit ($5K if I initiate, much higher if it's 'pulled' which what I guess is the set up on the Tesla payment side) but writing a check was easier at that point.

If you want to change how the payment is set up I would let them know first. My paperwork was all preprinted/presigned and I adhered to it even though my credit union gave me a higher limit on the draft 'just in case'.

 

[Slumpey326]

does the MVPA need to be updated to reflect the $1000 difference that I want to owe or can I just pay the extra $1000 and the loan via credit union is for $1000 less

 

[Offandon]

I cannot say if it needs to be updated or not, but I had a similar situation and I just sent a text to my DA asking her to change the amount financed and she did it within a couple of hours. So rather than spend a bit of time and energy trying to find out what is possible I would just try asking them to change it for you. Took me about 30 seconds to send the text and worse case is they don't respond which puts you where you are now anyway.

 

[Slumpey326]

yup thats what I did. My DA has been great. Hopefully its an easy update on her end if there is any. I already sent an email to my loan specialist to see if my loan could be dropped down by $1k. I figure I would just pay $1k more via ACH or check.