Tesla Financing - Best Rate Guarantee?

[HostileHarry]

So I am scheduled to take delivery of my Model3 on Friday. I was speaking with my Inside Sales Advisor as my 3rd party loan information disappeared.

She told me that if I do my loan through Tesla that they will pay the difference between their 3.69 and my Credit Unions lower rate. I inquired more and my ISA stated that it's to help speed up the delivery process and that Tesla would offer the credit in one of two way. First way was to offer a Supercharger / Tesla.com credit OR a check back from Tesla within 4-5 weeks after delivery.

Has anyone else been offered this option? I asked my ISA to confirm that if the difference between the Tesla loan (3.69) and Credit Union of (2.69), that would be about $1700 difference (60 month / $42,600 loan), which is what I should suspect? She said yes...

Anyone else? Am I missing something?

 

[AnesDragon]

My edit page on financing changed as well. I was in the middle of arranging 3rd party loan and trying to input information when I noticed the edit page no longer allowed for 3rd party and stated that the Tesla sponsored loan will pay back the difference between the loan back month to month between the two. I need the final purchasing agreement to complete the 3rd party loan in time to take delivery this Saturday. However so far no one has called or email back with the information. I just want to make sure everything is done in time because my 3rd party lender only sends their check through overnight mail and not electronically. I am getting little nervous about the time frame to make sure all this works out. Tesla just seems to be swamped to be able to respond quickly. I am not sure of the process of Tesla crediting us back either since they are always changing things up and their employees are barely able to keep up with all the information changes. So I am not sure how reliably this will be implemented.

 

[ealmeida212]

Wish I knew about that before just agreeing to 3.89% with them through TD Auto. I can't really complain though since there are quite a few vehicles I co signed for so I doubt I could've gotten much better

 

[MXWing]

Aww hell no. I played grab ass with Tesla finance, my credit union, my bank and my DSA for weeks and Tesla was gonna match the lowest rate you found?

Happy for you despite my extreme personal saltiness.

Guess Elon got replaced by Oprah.

 

[HostileHarry]

My edit page on financing changed as well. I was in the middle of arranging 3rd party loan and trying to input information when I noticed the edit page no longer allowed for 3rd party and stated that the Tesla sponsored loan will pay back the difference between the loan back month to month between the two. I need the final purchasing agreement to complete the 3rd party loan in time to take delivery this Saturday. However so far no one has called or email back with the information. I just want to make sure everything is done in time because my 3rd party lender only sends their check through overnight mail and not electronically. I am getting little nervous about the time frame to make sure all this works out. Tesla just seems to be swamped to be able to respond quickly. I am not sure of the process of Tesla crediting us back either since they are always changing things up and their employees are barely able to keep up with all the information changes. So I am not sure how reliably this will be implemented.

I told Tesla the exact same thing. MY CU won't provide me anything in writing until I have MVPA signed. You send me that and I will send to CU to get the letter approved.

I was just wondering what the heck is going on and wanted to confirm I wasn't the only one who saw this occur and offered this option. It seems fine, so long as my understanding of the check cut to me if accurate.

 

[AnesDragon]

I am not really that happy right now. More than anything I am little nervous because I rather go with 3rd party credit union because I know they will not change any terms on me last minute. I am not sure about TSLA practice thus far. They seem to change things on the go and their employees don't always know what is the latest. But TSLA so far has not provide me with the purchasing agreement even though I am only few days from delivery and no one is responding back either by email nor phone. I am hoping they will come through for me and my delivery will go without a hitch. I am really excited about my new P3+ to be delivered at Rocklin, CA on Sat 29th but am very anxious about possibility of things going wrong as well seeing how swamped TSLA is to meet the end of quarter delivery.

 

[voip-ninja]

Aww hell no. I played grab ass with Tesla finance, my credit union, my bank and my DSA for weeks and Tesla was gonna match the lowest rate you found?

Happy for you despite my extreme personal saltiness.

Guess Elon got replaced by Oprah.

View attachment 338112

You used the wrong GIF bro.

Elon would be more like

 

[kgclark]

Looks like they’ve put the rate guarantee in writing now. This is from my payment method section of my order...

 

[AnesDragon]

I am happy to report Tesla delivery specialists got in contact with me and resolved 3rd party Auto loan arrangement by providing with all the information needed as well as MVPA document so that I can successfully arrange 3rd party payment. They are swamped but they seem to be diligently working through the list. I think the guarantee was so that they can still facilitate delivery even if loan arrangement could not be made soon enough for the delivery process. I hope the delivery this Saturday will be smooth to keep me very optimistic about Tesla. I am really wishing them success because I will be joining them as an owner of M3P+.

 

[stylus1133]

I was running into the same problem where they have not provided me the final docs for 3rd party financing when my Tesla Direct delivery is scheduled for this Saturday. After reading about the best rate guarantee on this forum, I asked my ISA about it, and he sent instructions on how I can contact Tesla Financing to get the rate match (I had already been approved with Tesla at a higher rate). I followed the instructions, and within an hour last night, they had approved the rate match, so I'm now getting the lower rate with Tesla.

My issue is that I'm unable to get in touch with my ISA to accept the Tesla financing online and generate final docs showing how much of a final payment I owe at delivery.

 

[MXWing]

I was running into the same problem where they have not provided me the final docs for 3rd party financing when my Tesla Direct delivery is scheduled for this Saturday. After reading about the best rate guarantee on this forum, I asked my ISA about it, and he sent instructions on how I can contact Tesla Financing to get the rate match (I had already been approved with Tesla at a higher rate). I followed the instructions, and within an hour last night, they had approved the rate match, so I'm now getting the lower rate with Tesla.

My issue is that I'm unable to get in touch with my ISA to accept the Tesla financing online and generate final docs showing how much of a final payment I owe at delivery.

The main reason why Tesla loves Tesla financing is they can dick around till the last second.

They can print all the paperwork in 30 seconds and have you sign there and have you just ACH funds over.

You are good, don’t worry!

 

[HostileHarry]

Just to update everyone... Tesla is also rate matching. I have delivery scheduled for tomorrow and sent them my CU's loan approval and within 15 minutes they approved the rate match from the 3.69 to the 2.29 from my CU. You have to go back into the portal and approve and boom.. done.

 

[ombastic]

Just to update everyone... Tesla is also rate matching. I have delivery scheduled for tomorrow and sent them my CU's loan approval and within 15 minutes they approved the rate match from the 3.69 to the 2.29 from my CU. You have to go back into the portal and approve and boom.. done.

Was it your delivery adviser or Tesla's financing department that did the price match for you? My delivery adviser told me they would only do monthly credits.

 

[HostileHarry]

Was it your delivery adviser or Tesla's financing department that did the price match for you? My delivery adviser told me they would only do monthly credits.

The finance email district that your DA provides you. Done and done.

 

[stylus1133]

The main reason why Tesla loves Tesla financing is they can dick around till the last second.

They can print all the paperwork in 30 seconds and have you sign there and have you just ACH funds over.

You are good, don’t worry!

Thanks dude. Let's hope the delivery goes smoothly on Sat.

 

[10splayer]

I was at Tesla yesterday...I asked them if I got a better rate at a bank or CU if Tesla would match it or do anything. They said no. You can take out the loan with Tesla then go to your CU or bank and take out a loan use that money to pay off Tesla then carry your note with the bank or CU. Anyone have any other info? Because I know you can get a much better rate with a CU.

Thanks

 

[MXWing]

Thanks dude. Let's hope the delivery goes smoothly on Sat.

Update?

Hope you are enjoying your car today.

 

[KenC]

I was at Tesla yesterday...I asked them if I got a better rate at a bank or CU if Tesla would match it or do anything. They said no. You can take out the loan with Tesla then go to your CU or bank and take out a loan use that money to pay off Tesla then carry your note with the bank or CU. Anyone have any other info? Because I know you can get a much better rate with a CU.

Thanks

On your account page under Payment Method, they state, Loan arranged through Tesla...If you obtain approval for a lower rate from your bank within 7 days of delivery, send us your approval document indicating the rate and we will credit you the difference in your total monthly payments."

 

[10splayer]

On your account page under Payment Method, they state, Loan arranged through Tesla...If you obtain approval for a lower rate from your bank within 7 days of delivery, send us your approval document indicating the rate and we will credit you the difference in your total monthly payments."

I didn’t commit to buy anything yet. But I’ll check it out. So basically you have 7 days before or after to submit a lower rate?