Self arranged financing question

[zelron]

I got my auto loan pre-approval from BoA and they assigned a loan officer.

When I looked at the Tesla App, it asked me to fill out the financing partner information (lienholder address and financed amount)....I read the instructions for the self financing and it said after pre-approval, I will need to enter the lienholder information so they can use it for the final contract (this is step 2).

Once I get the VIN, Tesla would use the info to draft the final contract that I will need to send to the bank to finalize the loan. (Step3)

When I contact my loan officer and ask for the lien holder address info, he just gives me a standardized looking response and insist I need to upload the final purchase agreement and the bank will handle the rest.

My question is do I need to input the lienholder info into the Tesla App now? Or will I still get the final purchase agreement after VIN generated and just upload that to the bank?

 

[AS9.9.]

Of the 2 banks I have used, both banks require the final MVPA that you will only get once you have the VIN assigned. Neither of my banks would go any further without the final contract that stated the banks name under the "total credits: financed amount" section.

Hope that helps!

 

[zelron]

Of the 2 banks I have used, both banks require the final MVPA that you will only get once you have the VIN assigned. Neither of my banks would go any further without the final contract that stated the banks name under the "total credits: financed amount" section.

Hope that helps!

Thanks. I am not asking the bank to issue me anything in this case...just simply asking them what the lienholder address is.

I am not sure if Tesla includes the lienholder address and financed amount into this final purchase agreement?

I do understand the bank needs the final purchase agreement to complete the loan process. I am just worried that Tesla also requires the lienholder info before issuing the final purchase agreement since they stated that as step 2 in the self arranged financing instruction in the Tesla App.

 

[AS9.9.]

Thanks. I am not asking the bank to issue me anything in this case...just simply asking them what the lienholder address is.

I am not sure if Tesla includes the lienholder address and financed amount into this final purchase agreement?

I do understand the bank needs the final purchase agreement to complete the loan process. I am just worried that Tesla also requires the lienholder info before issuing the final purchase agreement since they stated that as step 2 in the self arranged financing instruction in the Tesla App.

When it got close to my delivery date on my new and used M3 and MY, they called me multiple times, and I was able to text them. I verbally told them who my bank was, and they ended up putting the info down for me. I only ever needed to tell them the name of the bank, and they put that on the MVPA, which the bank then approved of and wrote me a cashiers check to give to Tesla.

I guess I am not understanding what else needs to be done that you are trying to do with the lienholder information? At any rate, shoot your Tesla rep a text and they will reply.

 

[zelron]

It's so silly but I figured out the answer.

Went online to find out what is BoA lienholder address...not the most straightforward but I think I found it.

Proceeded to the Tesla App to enter the information...started typing in the Financial institution name and it immediately auto filled BoA's lienholder address which matched what I found on the web