Tesla Loan from Wells Forgo

[JMGNC]

Applied for loan with Tesla and got approval notice from same. Then got a letter from Wells Fargo saying the loan wasn't approved because of missing information from Tesla. But my Tesla account still shows loan approved. Since I haven't received a VIN or an assigned SA, I do not know how to contact Tesla. Wells Fargo was of no help. Any advice?

 

[Goobers]

You should've gotten a text message when you originally made the order. Reply to that one.

 

[JMGNC]

I did and didn't get a response. Let me see if I can do that again.

 

[charlesoris]

I got my loan approved via Tesla with Wells Fargo the same day I picked up the car. The Sales/Delivery Rep informed us that they had a car matching my order on the lot and asked if we wanted it. We said, "Yes, but we don't have the loan pre-approved". He said it was not an issue and called back after an hour to let us know that US Bank and Wells Fargo approved our loan application and we selected Wells Fargo. Tesla submitted the necessary paperwork electronically and all we had to was to sign the loan agreement.
So don't sweat it - it is too early in the game, but do shop around.

 

[JMGNC]

Thanks everyone.

 

[irobot2090]

To those using WF for loan, what’s the Daily Interest $7.23 on the account? Can someone explain a bit more info on that? Yes, I can call WF to ask but would like to know what’s it and are they charging you $7.23 every month? Or something else?

 

[carbide]

Everyone will be different. Mine is $3.48. Daily Interest is the amount left on your loan multiplied by your interest rate and then divide by 365.

 

[irobot2090]

I am still dont get it. Can you explain a bit more how to calculate that? Did they charge you monthly? Yearly or everyday?

Mine interest rate is 5.34%