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Tesla Finance - Perhaps a major revamp is in order!

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SpillyJ

16 M S 75D new body, AP1, 21" Turbine, Lux pkg
Sep 6, 2018
6
3
Ontario Canada
My first experience with a Tesla Model S. Not everything is always perfect!

How to destroy the ownership Tesla experience.


So I recently decided to take the plunge and buy a Model S Tesla. This would be the most expensive car I have ever purchased. So I started looking at preowned and when a lease takeover came available I did my math and thought this 2016 Model S (new body) was a great buy. I told the guy I would buy out the lease rather than take the lease over. Small issue, I am in Toronto and the lease holder is in Montreal. Not a huge problem and can be handled. I borrowed a dealer plate from a friend in the car business, flew to Montreal and would drive home in the new acquisition.


So the lease holder contacted Tesla Finance about me buying out the lease. They told him that only another car company can purchase the car if it was not him. So I had my friends company buy the car and I will give him a nominal fee for doing the transaction. We agreed and I had to do all the legwork, paperwork and the drive back from Montreal.


So now we wait for the paperwork from Tesla Finance. It arrives and the lease holder and the car company director have to sign the forms and send them back. All done within an hour. Then payment. Here is where I knew I was heading into a deep tunnel of trouble. So I asked if I could wire transfer the money for the transaction. This is the buyout value plus sales tax so a large sum of money. The rep from Tesla Finance said they don’t accept wire transfers… I asked if this was 2018 and I have never heard of a modern company not accepting bank wire transfers. I was told that Tesla Finance is a small company and they don’t do it. She requested a certified draft which was made and sent overnight that Tesla Finance had at their office according to the tracking at 9:54 am Friday the 1st of September local time. So why they don’t have a Finance office in Canada is my first question as licensing in every state along with every province in Canada is different but that is what Tesla has set up.


Here is where it becomes just deplorable…. So I called Tesla Finance to make sure the draft was fine and they have received it after I have seen online a signature of receipt. The response was it may be here but the mail room will deliver it when they do, we do have a large campus. So it was Labour day weekend in both countries approaching at the end of business that day so I wanted this to go smoothly. After sending a copy of the payment and the tracking info to the lease holder, I flew to Montreal on the Friday with the dealer plates and picked up the car to drive to Toronto… about a 6 and a half hour journey with the supercharging stops, just the drive.


The drive was fine and when I got home, the dealer plate had to be retuned to the car place so they could use it for their business. The car was sent with the plate to the dealer for certification ( a must for any car coming from another province to be licenced). He called me Tuesday and said the certifcation is complete and could we park the car in my garage until the ownership is granted by Tesla Finance, so it doesn't get accidentally hit on his car lot. Tuesday night the car was parked in my garage and I took him back to his place of business with his pate in my car being traded in. I emailed to my contact at Tesla Finance who claimed the draft still had not hit her desk. I asked her to track it down within their office and lets get this process going, Wednesday later in the day in Toronto, I received an email that the draft has been deposited and it should take between 48 and 72 hours for this to be posted to the lease account and then the lien can be removed to provide a clear title to the car. At that point they will contact Tesla Toronto for the ownership presentation, app installation and any questions to be answered.


So my first response to the email was why did it take 5 days for certified funds just to be deposited? This is a useless delay and my new acquisition is sitting in the garage and now with the timing provided, the ownership would not be until next week. She said we are a small company and rules and regulations provided have to followed. She will try and expedite the process. Friday afternoon I receive an email that the posting to the lease account has not been done as of yet as she will keep an eye out for it and then remove the lien and offer the ownership so I can have the car licenced. So during this time, the car is still being insured by the lease holder, it is being insured by me as its in my garage and I am paying for my old car which has not been turned in yet because I would have no car. So in my return email to her on Friday I suggested that a wire transfer would have had the cleared funds in the account on the previous Friday and her clearing of the lien could have been completed along with the delivery of the ownership. I asked to be kept informed as I would like to drive the car this weekend and send my old car back. Of course, no email with any update. So the cost of carrying the 2 cars rather than the one is about $500 for the week insuring both. Tesla finance just doesn’t care about the customer. To make matters worse, the car is sitting in my garage all cleaned and polished, certified and ready to be licenced but no ownership 8 days later and the weekend is here. No email updating me on the status of this transaction so I can only assume nothing has been done.


So I am wrong by thinking the whole joy of the new acquisition of the new most expensive car I have ever bought is totally out the door? This is so frustrating and seeing the car daily makes it so much worse just sitting there. My experience with Tesla Financing is nothing but disgraceful and everyone should know how they treat people. Thoughts of selling this car have crossed my mind so many times in the last couple of days from the frustration and the stupidity of Tesla Finance. I just hope customer service is better than this.


I have sent the story to Elon Musk via twitter and Facebook which sends a message through Google and have no response. This is just insane. I have never heard of a business that has a rather large sum of money in a certified draft sit around for 5 days without being deposited. The lack of attention and care to this file is just incomprehensible. It has been nothing but a nightmare and totally unacceptable.


I was wondering if I am alone in having issues with Tesla Finance or is this to be expected from what seems to be the most unorganized business trying to please high end customers….. so far the experience has been just horrific! And most important, no ownership for my paid for car 8 days later and no driving the car because it remains without a licence plate.
 
Wish I could because still unplated because of no ownership and Nothing to tell me its coming soon! But you do have the right attitude but you are not me in my situation!

Understood I leased a car years ago from them and never could figure out why they didn’t have online payments ..your situation will be resolved hopefully soon ..definitely a nice road trip that u took for the S !
 
We are now in the evening of Thursday September 13th. I have now been without my money for 2 complete weeks. I have what I paid for in my garage and just waiting for a huge chain of totally useless Tesla Employees feeding me more Bull *sugar*. I have my guy I took the lease over from in Montreal thinking I am playing games with him but he gets the same stupid and uncomforting emails from Tesla Finance.
Last night at 9PM local time in Toronto, obviously just before this agent at Tesla Finance was to leave for the day, I receive an email that the work is all done from Tesla Finance Trust. The file will now be sent for ownership presentation to someone in Ontario. My first question is who? Name number and email address would be helpful as this has been dragged right through the mud and lets get it put to rest already.
As I heard nothing from anyone “in Ontario” this morning, I emailed back to the agent about her email last night and asked for a specific name and number of who the file has been transferred to. Not a response.
I then called Tesla Toronto after searching who the manager is to discuss this with him. I called and was told he would not be in until 12… I called again at 12:45 and was told he is much too busy to take a call. I called again at 3:30 and then was connected with the manager. Told him my story and he suggested it would be the Tesla Remarketing department that would be taking care of this and he would call me back with a contact for me. Not a call. I then looked up on LinkedIn Toronto area Telsa remarking and sent an email to someone who’s title seems to make him pretty high up in remarketing and no response.
I am so appalled how little effort by employees of Tesla make to make sure customer satisfaction is the utmost priority. Your brand is a high end luxury brand with total amatures handling transactions…. I am still without contact of who is now handling this case, and again tomorrow is Friday and by the way things are looking yet another weekend of my new purchase sitting in the garage, insured by 2 different parties and not being able to be licenced due to just lack of interest by Tesla Employees….. A total disgrace and if I was aware of so many useless staff members along tis process I would have NEVER got involved. I just want this over with already as it is brutally expensive for me carrying both cars with insurance and I just want to move forward. This remains very unfair for the previous lease holder as he is also still insuring a car he has released off his expenses but not as yet.
 
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Hi SpillyJ, your story is truly a nightmare. I've had similar problems recently as I'm trying to purchase a used CPO car (I planned on trading in my current car). I've had so many complications just while trying to reach someone from the CPO team that I no longer know if I really want to trade in my car.

It seems that Tesla does not want to do business. Here are a few things that would be taken for granted at any dealership in Canada but that Tesla does not do:

1- They don't offer convenience or accommodation sales. The only option to save taxes is to trade in your car at the price they have quoted you.
2- It's impossible to get basic information on any CPO without having to reach the CPO team, which took me at least 1 week and a half to do. The provided report on the cars is limited and they do not have access to additionnal information.
3- They will not ship to car to the closest service center, even if you offer them to pay a fee. You have to go pick it up yourself. Now if you would be buying a car and not trading in your prevoius car it wouldn't be a problem but it is often not the case.

So, to follow up with 3, you pretty much have to buy the car locally unless you plan on doing a road trip and missing multiple days of work. The irony of it all is that I finally found a local car (CPO) and called my service center in Montréal but they don't actually know where the car is... it's in 1 of the 3 existing parking lots at a 25km radius from the service center and they cannot accommodate you if you wish to see the car in person.

How the hell are we supposed to buy a used car for Tesla? It's so complicated for nothing. Today everything is going great as a lot of people are waiting in line to buy the model 3 but Tesla doesn't seem to be realizing that it is "burning" it's most loyal customers. The day another company offers a competitive EV that is similar to Tesla then I fear it will be too late for them to turn things around. This is such a shame.
 
Nick B.... I as well looked at the Tesla CPO cars. First off, they post them on their website. you are then to make a deposit on a car you can't see in person or even better test drive. after a deposit is left on the car, you may find out the car is at the other end of the country and you are responsible for either transporting it back by truck or train to your location at a cost of maybe up to 4500. Then you receive an email from a sales advisor who is in California on how this transaction should be completed.

Why a rep from California is handling a Canadian transaction is the first question. Why you cat go to a Tesla store ad physically see what you are buying would be my next question. You expect a perfect car the buying ew so buying it blind (o lie or a order at a dealer) would make sense but a used car has to be viewed before a commitment would be made.

It is simple... Tesla as a company has to have a Canadian office and people from here to handle any CPO or financial transactions. What also is wrong is the length of time everything takes having to deal with someone in California on any question or issue.

Yes you are correct! Tesla better get more organized in Canada before the other companies start releasing their longer range EV machines. Jaguar in October, Audi, Mercedes and BMW in 2020, Volvo in 2019. Still Tesla has a fabulous product, the support and communication has to match. A luxury brand should have a luxury customer service and that is what is lacking.
 
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Just updating the situation with Tesla Finance Trust.... After 18 days of calls and emails galore, my ownership finally arrived... A tortuous event from a company that should have customer service as the number 1 priority but obviously not. Some appologies from some higher up in the office of Finance but truly not acceptable for a top brand. I could not imagine Mercedes treating customers like I was treated. Perhaps a Finance office in the state or province where the cars are located would remove 75% of their "we will look into this" answer and time.....

I am now glad this is behind me and hope the car is all it is hyped up to be for a daily driver!