Tesla APR - is it locked in or can it change?

[PedroM3RWD]

Hi Everyone,

I have a Model 3 RWD on order, PCP via Tesla (APR 5.9%) - EDD is Nov22-Jan23. I just wondered will this offer expire or last until my car is delivered?

Bit worried if it increases significantly I won't be able to afford the car... I can't see anything on the website or my account which states it will expire but with interest rates on the increase & the fact I placed the order before the latest price increase I wonder if Tesla will have to act?

 

[debrooker]

I believe it will be honoured.

I have a tesla loan on my upcoming car and the finance rate remains the same as when I place the order, even though this has increased for sunsequent orders.

 

[Bodders1612]

Hi Everyone,

I have a Model 3 RWD on order, PCP via Tesla (APR 5.9%) - EDD is Nov22-Jan23. I just wondered will this offer expire or last until my car is delivered?

Bit worried if it increases significantly I won't be able to afford the car... I can't see anything on the website or my account which states it will expire but with interest rates on the increase & the fact I placed the order before the latest price increase I wonder if Tesla will have to act?

I ordered my car in January when the Apr was 3.9%. My credit offer has expired on my account due the all the delays but they've told me that they'll honour the original Apr when the car eventually arrives

 

[PedroM3RWD]

Thanks both, fingers crossed it won't change! I've emailed them to ask so will update if/when they come back to me.

 

[PedroM3RWD]

See below from Tesla finance - so my understanding is that as long as your financial position hasn't changed significantly then they'll honor the originally quoted rate - which is good news!


thank you for your email! Yes, due to regulatory and internal requirements our credit offer has a limited validity of 4 months. After that we would need to review your creditworthiness again and depending on the outcome we would then be able to extend our credit offer at the previously confirmed terms.
We are working closely with the delivery department, so in case the offer has expired and your delivery is expected we are resolving this accordingly.

 

[Ashdeman]

See below from Tesla finance - so my understanding is that as long as your financial position hasn't changed significantly then they'll honor the originally quoted rate - which is good news!


thank you for your email! Yes, due to regulatory and internal requirements our credit offer has a limited validity of 4 months. After that we would need to review your creditworthiness again and depending on the outcome we would then be able to extend our credit offer at the previously confirmed terms.
We are working closely with the delivery department, so in case the offer has expired and your delivery is expected we are resolving this accordingly.

Good to know as my Tesla loan offer is coming up to 4 months. I'd have to reconsider if they didn't honour the original rate