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Questions about EST

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I

ivangr

Member
Jul 22, 2019
198
127
dunfermline
#1
Hi

I ordered a white SR+ with FSD last week. (16 July 2019)

I originally selected PCP as my finance and have been approved for this but I'm now thinking I should rather go for EST. For those who have gone with EST...

1. How long does the EST take to come through? I have the application link sent ot me by the Energy Trust.
2. Can I mix EST with a cash payment? I'm thinking I'll do part cash part EST. Will Tesla process that OK?

Thanks!
 
#3
I've gone through the application process and I've now seen that they will loan the money to me directly. So that answers one part of my question.

So just curious as to how long it takes to get sorted really... I imagine my one will not be on the Triumph Ace as the order was so late, so I believe I have plent of time to sort it.
 
#4
ivangr said:
Hi

I ordered a white SR+ with FSD last week. (16 July 2019)

I originally selected PCP as my finance and have been approved for this but I'm now thinking I should rather go for EST. For those who have gone with EST...

1. How long does the EST take to come through? I have the application link sent ot me by the Energy Trust.
2. Can I mix EST with a cash payment? I'm thinking I'll do part cash part EST. Will Tesla process that OK?

Thanks!
Click to expand...

Its a overly long process for most people. I applied on 25 June and received my paperwork on 16 July (though the online portal showed approved on 12th). Most people seem to be reporting it takes the max (14-15 working days) to get the approval. They do not do financial checks (beyond what you put in the application), only credit check.

They need an invoice before giving you the funds, and can take up to 10 working days to get you the cash. This means you can't claim it until Tesla gives you an invoice. Somehow I got one early to give to EST, but based upon these forums and others experiences that doesn't seem to be normal. The only people from Tesla who understand the EST stuff seem to be based in Norway or in Scotland.
 
#5
Tesla certainly know about the EST loan, and about a potential up to 2 week delay to get the funds after Final Invoice (not least because I told them when they called to ask me about my funding and insurance, but they actually seemed to know already). The advantages of a £35,000 loan interest free over 6 years outweighs a short delay in my view. I am sticking with it.
 
#6
ivangr said:
Hi

I ordered a white SR+ with FSD last week. (16 July 2019)

I originally selected PCP as my finance and have been approved for this but I'm now thinking I should rather go for EST. For those who have gone with EST...

1. How long does the EST take to come through? I have the application link sent ot me by the Energy Trust.
2. Can I mix EST with a cash payment? I'm thinking I'll do part cash part EST. Will Tesla process that OK?

Thanks!
Click to expand...
Took about 3 weeks to get mine approved, they won't release Funds until I send them a Final Invoice which as my Car is still in transit I don't yet have. I'm also planning to self fund the difference between the EST and Car cost, Tesla seemed fine with this.
 
#10
I'm in the middle of the same process right now. Applied for EST loan, on 16th July, status is "Application Received", looks like it will stay that way for another week or two. Edinburgh Tesla advised attaching the order agreement as a quote. I've also joined Charge Point Scotland as they want proof of either using public network or proof of getting a home charge point.

Test drove a std range last Friday at a Tesla Event near Bishopton, I was 90% ready to buy but now 100%.

Does anyone know what the Tesla would do if I pay my £2k deposit now and cancel it later should something go wrong and they don't approve the EST loan application?
 
#11
You can just order the vehicle online, paying the (refundable) £2k holding fee. If you paid a £1k deposit before launch, this is also OK. EST do not allow you to pay any more than this until the loan is approved.

The application process itself takes a long time, though most of the action happens late on. The process basically takes the full two weeks. Here's my timeline, if you're interested:

July 1st - Applied
July 18th - "Application being checked" (10:02)
July 18th - "Application at credit check stage" (10:15)
July 18th - "Application being checked" (17:15)
July 19th - "Loan Approved" (11:52)

I was checking this very regularly, so the times are likely within 30 minutes of the change. As you can see, it was all quiet for a long time before anything changed.

When applying you need the PDF of the "Motor Vehicle Order Agreement" which is both emailed to you and available in your Tesla account. You don't need to speak to anyone at Tesla or visit a store.
 
#13
dst87 said:
You can just order the vehicle online, paying the (refundable) £2k holding fee. If you paid a £1k deposit before launch, this is also OK. EST do not allow you to pay any more than this until the loan is approved.

The application process itself takes a long time, though most of the action happens late on. The process basically takes the full two weeks. Here's my timeline, if you're interested:

July 1st - Applied
July 18th - "Application being checked" (10:02)
July 18th - "Application at credit check stage" (10:15)
July 18th - "Application being checked" (17:15)
July 19th - "Loan Approved" (11:52)

I was checking this very regularly, so the times are likely within 30 minutes of the change. As you can see, it was all quiet for a long time before anything changed.

When applying you need the PDF of the "Motor Vehicle Order Agreement" which is both emailed to you and available in your Tesla account. You don't need to speak to anyone at Tesla or visit a store.
Click to expand...

thanks! because i ordered so late i'm sure the timelines will work for me. hoorah
 
#14
Anyone had recent experience with getting funds transferred. Sent through my final invoice yesterday and phoned them today. Was told they are really busy at the moment and it is now up to 15 working days to get funds :eek:. If it takes that long it will leave me a week to pay Tesla.
 
#15
craigdi said:
Anyone had recent experience with getting funds transferred. Sent through my final invoice yesterday and phoned them today. Was told they are really busy at the moment and it is now up to 15 working days to get funds :eek:. If it takes that long it will leave me a week to pay Tesla.
Click to expand...

After loan approval, they accepted all my paperwork on 27 August (final invoice etc). They started processing the claim on 10 September. I've been told from this point on it should take about 5 days to get the money in.
 
#17
ivangr said:
Hi

I ordered a white SR+ with FSD last week. (16 July 2019)

I originally selected PCP as my finance and have been approved for this but I'm now thinking I should rather go for EST. For those who have gone with EST...

1. How long does the EST take to come through? I have the application link sent ot me by the Energy Trust.
2. Can I mix EST with a cash payment? I'm thinking I'll do part cash part EST. Will Tesla process that OK?

Thanks!
Click to expand...
I got an EST loan for £35k, and paid the rest cash. That is quite expected. Make your EST application immediately on the strength of your order. The approval process is quite detailed, and you can do everything else in advance of your Final Invoice. Took about 2-3 weeks as I recall. From final invoice, it will take another 2 weeks for the loan to arrive in your account. They insist on paying it BACS, even if you offer to pay the CHAPS fee for same day (I did, no go).
Tesla Edinburgh are fully familiar with EST, and EST told me Tesla UK Delivery confirmed the final invoice immediately (same day) they were contacted. No problem there.
Good luck!
 
#18
Has anyone gone through the EST process in last couple of weeks? I got final invoice yesterday and it was sent to the EST immediately. All other parts of the process are complete (DD mandate, loan agreement etc etc). How long should I be expecting to wait on funds? I have a delivery date of Friday 22nd which is only 8 days away :(. PS I'm doing the business version of the loan
 
#19
PilotD99 said:
Has anyone gone through the EST process in last couple of weeks? I got final invoice yesterday and it was sent to the EST immediately. All other parts of the process are complete (DD mandate, loan agreement etc etc). How long should I be expecting to wait on funds? I have a delivery date of Friday 22nd which is only 8 days away :(. PS I'm doing the business version of the loan
Click to expand...

not recently but it was around 3 weeks from that point to payment for me. had to juggle things around to make payment as the funds arrived in my business account on the day of pickup.
 
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