Reimbursement for interest accrued while waiting for delivery

[EricB-RI]

Has anyone been reimbursed for the interest accrued while waiting for delivery?

My credit union started billing my P&I the day the check was cut to Tesla. The check has been cashed by Tesla and I'm still waiting for delivery. Essentially paying for a car that has yet to be delivered, inspected, and accepted.

 

[pkodali]

Has anyone been reimbursed for the interest accrued while waiting for delivery?

My credit union started billing my P&I the day the check was cut to Tesla. The check has been cashed by Tesla and I'm still waiting for delivery. Essentially paying for a car that has yet to be delivered, inspected, and accepted.

It comes out to what, $10?

 

[mongo]

That is annoying. Realistically though, the only harm to you in regards to the loan starting early is the opportunity cost on the interest and payments you make. So with interest rates at near zero, long term you are out ~0/12*payment. Now, if you has bought TSLA Monday instead of making a payment...

If your credit union required proof of insurance for the loan, and you are paying on that, that is a real loss (and something you might want to call the insurance company about)

 

[EricB-RI]

That is annoying. Realistically though, the only harm to you in regards to the loan starting early is the opportunity cost on the interest and payments you make. So with interest rates at near zero, long term you are out ~0/12*payment. Now, if you has bought TSLA Monday instead of making a payment...

If your credit union required proof of insurance for the loan, and you are paying on that, that is a real loss (and something you might want to call the insurance company about)

I agree. It's nothing really...however Tesla phone customer support said I should request reimbursement through the contact us form.

 

[xyeahtony]

not happening.

 

[mongo]

I agree. It's nothing really...however Tesla phone customer support said I should request reimbursement through the contact us form.

That is cool of them, do you reimburse back after your last payment is done?

 

[EricB-RI]

not happening.

AGREED.

 

[compu85]

Our Credit Union didn't start billing till the check was cashed I think.

-J

 

[outdoors]

On my S, delivery was delayed by two weeks. I used Chase as finance via Tesla. They didn't start accruing interest till delivery. Insurance company had no issue changing the start date and removing the two weeks of coverage from my policy.

Use a credit union as outside financing is different. They give you the money. They have no idea when you actually take possession of the car unlike a financing company through a dealer or direct through manufacturer that submits docs post sale. When I used a credit union once to buy a car it was a cashiers check, and I signed all the loan docs ahead of time. The CU wanted a MVPA showing I was actually buying a car. They also wanted the check made out to the party selling the car.

Most would use a CU if rate is lower is my guess. So if rate is lower for an extended period of time. Think its worth the difference. I would use my complaining points at a different point of time in my ownership of the car. Like service appointment problems rather than for the $10.

 

[Super_Popular]

Has anyone been reimbursed for the interest accrued while waiting for delivery?

LMAO

good luck with that.

 

[supomglol]

LMAO

good luck with that.

I fail to see the humor. Tesla cashed my CU's check 40 days ago. I'm closing in on my 2nd loan payment for a car I still haven't seen. The loss so far is past being a laughable amount.

 

[Uncle Paul]

While it could indeed be a sizeable amount, the total amount of payments and interest you make will be unchanged. You will just pay off your Tesla 40 days (or so) earlier.

By starting your payments earlier you will have your car paid off sooner. No financial damage, other than the initial cash flow.

 

[ewoodrick]

Maybe it is something that should be considered when you take a 3rd party loan over a Tesla arranged loan.