Tesla Delivery Center requesting two checks for delivery pickup instead of one.

[mjnicho1]

I talked to the Tesla dealership while I was at the bank getting my financing done, and I explained to the dealership that I was putting a down-payment of a little more than half down for the car. The dealership said fine just take a photo of the bank's cashier's check and email it to the dealership, which I did, their email response was thank you and your financing is complete. The bank customarily gave me one check for the full amount that the dealership had typed in on the Motor Vehicle Purchase Agreement, which was obviously $1000.00 over the actual price due to the rebate specified in the Agreement. But the bank had to honor the purchase agreement. When I get to the dealership to pickup the new model 3 the salesman was insisting that I needed 2 checks, one for my down-payment and one for the financed amount. He told me that he would have to get approval from accounting to accept the check that was made out in full, and hoped I didn't have to go back to my bank to get 2 checks. 30 minutes later he said they would take my check, but that the DMV wouldn't have an accurate record as to how much was being financed. To top it off he said I over paid and it would take at least 30 days to receive my $1000 overpayment in the mail. So I was not to pleased with how the dealership handled my new car pickup. The salesman then tells me I'm the first customer in four years that hasn't provided 2 checks when there's a down-payment involved. Has anyone else had a similar Tesla car Buying experience?

 

[jjrandorin]

I talked to the Tesla dealership while I was at the bank getting my financing done, and I explained to the dealership that I was putting a down-payment of a little more than half down for the car. The dealership said fine just take a photo of the bank's cashier's check and email it to the dealership, which I did, their email response was thank you and your financing is complete. The bank customarily gave me one check for the full amount that the dealership had typed in on the Motor Vehicle Purchase Agreement, which was obviously $1000.00 over the actual price due to the rebate specified in the Agreement. But the bank had to honor the purchase agreement. When I get to the dealership to pickup the new model 3 the salesman was insisting that I needed 2 checks, one for my down-payment and one for the financed amount. He told me that he would have to get approval from accounting to accept the check that was made out in full, and hoped I didn't have to go back to my bank to get 2 checks. 30 minutes later he said they would take my check, but that the DMV wouldn't have an accurate record as to how much was being financed. To top it off he said I over paid and it would take at least 30 days to receive my $1000 overpayment in the mail. So I was not to pleased with how the dealership handled my new car pickup. The salesman then tells me I'm the first customer in four years that hasn't provided 2 checks when there's a down-payment involved. Has anyone else had a similar Tesla car Buying experience?

I provided two checks for down payment and have no idea how you provided one check that included bank financing AND your funds as well. I am not a bank employee but that sounds extremely strange.

 

[mjnicho1]

I provided two checks for down payment and have no idea how you provided one check that included bank financing AND your funds as well. I am not a bank employee but that sounds extremely strange.

Since I'm not familiar with this new car buying experience, I went back to my bank today and talked to a finance person. They said that's how they handle all of their new car purchases. They provide the dealership with one cashier's check. I also talked to coworker who recently bought a new car with a down-payment, and he said his bank cut him just one check as well. So maybe the banks and the dealerships need a little better communication.

 

[mjnicho1]

Maybe it's a Credit Union policy to cut one check for the down-payment and the financed amount. Both myself and my coworker went through Credit Unions for our new car loans because the interest rates were lower.

 

[Lerxt]

People still use cheques? Haven't seen one in years.

 

[jjrandorin]

Maybe it's a Credit Union policy to cut one check for the down-payment and the financed amount. Both myself and my coworker went through Credit Unions for our new car loans because the interest rates were lower.

I financed with navy federal credit union (both my teslas). The loan portion is a bank check ( a blank check with loan documents attached to it). The down payment portion is a cashiers check. Those are two separate instruments, and i am not sure how they are giving you one instrument for two different forms of payment with two different sources.

I am not saying you did. something wrong, I am just saying I dont understand how that would work.

 

[mjnicho1]

It would seem to me that after the Credit Union had established the finance amount, they simply take my funds and combine it with their funds to produce one cashier's check to cover the cost in full. The Credit Union couldn't understand why two checks would be necessary, and thought that the dealership was being difficult. I'll try to get an official explanation from the Credit Union, but it doesn't sound like they're going to change their policy. I just wanted to see if other buyers had similar problems, and to make the dealerships aware that this is how they operate.

 

[jjrandorin]

It would seem to me that after the Credit Union had established the finance amount, they simply take my funds and combine it with their funds to produce one cashier's check to cover the cost in full. The Credit Union couldn't understand why two checks would be necessary, and thought that the dealership was being difficult. I'll try to get an official explanation from the Credit Union, but it doesn't sound like they're going to change their policy. I just wanted to see if other buyers had similar problems, and to make the dealerships aware that this is how they operate.

A bank check (loan) and cashiers check are different, so as I said I cant understand for the life of me how or why they would combine the two, or why in the world you would have had ANY difficulty in getting a cashiers check for YOUR MONEY separate from the loan.

Regardless of "what they do:", a cashiers check is drawn on your money, and getting YOUR money as a cashiers check separate from the amount you are borrowing from them doesnt seem like a strange ask. Combining the two actually seems strange to me but shrug. You dont need them to change whatever policy they have. You just need them to give you a cashiers check for your money, and only cut a bank check for the loan for the amount you are borrowing from them.

 

[mjnicho1]

If this is how Tesla dealerships want their payment, then I will take what you've said literally to the bank and show them. I'm not sure why other dealerships are flexible as far as the payment options go, since my coworker had no issues submitting one cashier's check for both the down-payment and financed amount. I know other coworkers will probably use my Credit Union for their Tesla car purchases and will most likely have the same problems. To me it doesn't make any difference whether the CU gives me a separate check for my down-payment or not. As soon as I've paid off the financed amount the title switches over to me, and the DMV really only cares about who holds the pink slip.

 

[mjnicho1]

I talked to the Tesla dealership trying to get a valid answer as why they want 2 checks instead of 1, and the only answer they provided was that it was for Tesla's records. My response was what does it matter if the buyer puts 20% or 80% down on the vehicle as long as they get paid in full there should be no issue. The finance person checked with his supervisor and they said from now on that will no longer be an issue, and they will accept 1 check without contesting it. So I hope I made it a little easier for future Credit Union members to purchase their Teslas.

 

[theocguy]

If this is how Tesla dealerships want their payment, then I will take what you've said literally to the bank and show them. I'm not sure why other dealerships are flexible as far as the payment options go, since my coworker had no issues submitting one cashier's check for both the down-payment and financed amount. I know other coworkers will probably use my Credit Union for their Tesla car purchases and will most likely have the same problems. To me it doesn't make any difference whether the CU gives me a separate check for my down-payment or not. As soon as I've paid off the financed amount the title switches over to me, and the DMV really only cares about who holds the pink slip.

I have purchased 2 ICE cars before and both went thru financing at the dealerships. I did take my personal check which they did accept it (rather than cashier check) as my downpayment and financed rest of the $.

I am thinking Tesla might want to have 2 different checks to attach as 2 different transactions (downpayment and the loan). but again, it does not seem matter since it is the matter between you and the bank - as long as the bank records the loan amount correctly, then it should be fine.

 

[JulienWA]

I think it just depends on how you do this. I applied for my car loan through DCU during the week that I was to take delivery. They gave me ONE check for the entire dollar amount for the car and that is what I gave to Tesla after I inspected the car and got them to agree on a few items before I accepted delivery. During the order process, I just chose "cash." They changed it to "loan" when I picked it up and then correctly registered it with my state with DCU as the lienholder, etc.

 

[enemji]

I talked to the Tesla dealership while I was at the bank getting my financing done, and I explained to the dealership that I was putting a down-payment of a little more than half down for the car. The dealership said fine just take a photo of the bank's cashier's check and email it to the dealership, which I did, their email response was thank you and your financing is complete. The bank customarily gave me one check for the full amount that the dealership had typed in on the Motor Vehicle Purchase Agreement, which was obviously $1000.00 over the actual price due to the rebate specified in the Agreement. But the bank had to honor the purchase agreement. When I get to the dealership to pickup the new model 3 the salesman was insisting that I needed 2 checks, one for my down-payment and one for the financed amount. He told me that he would have to get approval from accounting to accept the check that was made out in full, and hoped I didn't have to go back to my bank to get 2 checks. 30 minutes later he said they would take my check, but that the DMV wouldn't have an accurate record as to how much was being financed. To top it off he said I over paid and it would take at least 30 days to receive my $1000 overpayment in the mail. So I was not to pleased with how the dealership handled my new car pickup. The salesman then tells me I'm the first customer in four years that hasn't provided 2 checks when there's a down-payment involved. Has anyone else had a similar Tesla car Buying experience?

Who did you give the downpayment to?

 

[Park2670]

I had the same issue with Tesla saying they needed two checks, and I called twice to have it confirmed that I could bring one check. Then on delivery day, they asked me if I was bringing two checks.

I brought one, they said it was fine, and I have had the car for two months.

I worked for a local dealership here for seven years and never heard of people bringing two checks.

 

[cubeman]

I provided two checks for down payment and have no idea how you provided one check that included bank financing AND your funds as well. I am not a bank employee but that sounds extremely strange.

My CU allows for this, they either deposit money into your account and create one check or formerly they used a bank holding account to do so.

 

[Ashhong]

I think it just depends on how you do this. I applied for my car loan through DCU during the week that I was to take delivery. They gave me ONE check for the entire dollar amount for the car and that is what I gave to Tesla after I inspected the car and got them to agree on a few items before I accepted delivery. During the order process, I just chose "cash." They changed it to "loan" when I picked it up and then correctly registered it with my state with DCU as the lienholder, etc.

How much did you borrow from DCU? The entire cost of the car?

 

[JulienWA]

How much did you borrow from DCU? The entire cost of the car?

Yes and no. The loan was written for the entire amount, but I had 32k from teh sale of my previous vehicle. Once the loan was in place, we refinanced it with the money I'd intended to "put down"." This was done before the loan even showed up on my credit. So the only loan showing up now is the refinanced once with a smaller balance/payment--same rate. From what I was told, this was just the easiest way for them (and me) to get the money quickly since Tesla was so difficult to pin down on the f-ing deliver date.

 

[mjnicho1]

Who did you give the downpayment to?

The Credit Union combined my down-payment with the amount I was financing and cut the check for the full amount to the dealership. It made perfect sense to me, and I know that's their policy for many other new car buyers. I agreed to the terms of their financing which was 29 K and it was a done deal. I as well as the CU couldn't understand the necessity for providing two checks. If it was so important to the dealership then they should have emphasized the need for two checks with their terms of financing in the purchase agreement.

 

[mjnicho1]

My CU allows for this, they either deposit money into your account and create one check or formerly they used a bank holding account to do so.

I went through my CU because their interest rates were lower than the dealerships. So I guess according to the responses I've been getting that not too many people are using Credit Unions for financing, and the dealerships can't provide a good valid reason why they need two checks instead of one. The dealership I was dealing with said they would change their policy and would accept one check without contesting it if a down-payment was involved, so I hope that's true.

 

[mjnicho1]

I had the same issue with Tesla saying they needed two checks, and I called twice to have it confirmed that I could bring one check. Then on delivery day, they asked me if I was bringing two checks.

I brought one, they said it was fine, and I have had the car for two months.

I worked for a local dealership here for seven years and never heard of people bringing two checks.

Thank you for that confirmation! I thought I was being singled out for not complying with the Tesla dealerships so-called policy for needing two checks.