Tesla Payment Question

[iKilledMufasa]

Hi folks,

I’m looking to buy my first used approved M3 from Tesla. I test drove one the other day and couldn’t believe how sporty and nippy it was.

It’s more feasible for me if I pay via BACs through my business bank account instead of my personal account to settle the bill. Would they care that I am sending 50k from a business to settle the bill or would it need to be strictly in my name? (The logbook will be in my name, not the business).

Also, what was the process like in paying for it. I’ve heard horror stories so just being careful about the whole thing.

Thanks!

 

[glide]

Hi folks,

I’m looking to buy my first used approved M3 from Tesla. I test drove one the other day and couldn’t believe how sporty and nippy it was.

It’s more feasible for me if I pay via BACs through my business bank account instead of my personal account to settle the bill. Would they care that I am sending 50k from a business to settle the bill or would it need to be strictly in my name? (The logbook will be in my name, not the business).

Also, what was the process like in paying for it. I’ve heard horror stories so just being careful about the whole thing.

Thanks!

1.) DO NOT pay them in advance of receiving and inspecting your vehicle.

2.) I believe payment source must match the registration but not 100%. I’m sure if you search the forums you will find an answer. Or someone else will be along sjortly to chime in.

 

[Rooster6655]

1.) DO NOT pay them in advance of receiving and inspecting your vehicle.

I agree with 1 however in the UK if you don't pay them straight away they will make you wait until its cleared if BACS that's 3-4 days, FPS within 1 day usually but to send 50k you need to do in branch or other phone with most banks.

It’s more feasible for me if I pay via BACs through my business bank account instead of my personal account to settle the bill. Would they care that I am sending 50k from a business to settle the bill or would it need to be strictly in my name? (The logbook will be in my name, not the business).

Tesla only really care about having the money, never heard of them complaining what bank or name it came from

 

[iKilledMufasa]

Ok, seems like it should be fine. My main concern was if they asked for proof of bank transfer or a receipt and it mentions my business name instead of my actual name.

Do they normally ask for a receipt from the bank? Or is it a matter of just sending the funds, and then take the keys?

 

[Overworked]

When you are doing the transfer, move £10 first. Then you can see it credit your Tesla account and you know you have correctly input all the details. When that has gone through send the rest.

If a proof of transfer needed, I took a screenshot of the transfers and uploaded them without any issue.

 

[init6]

Ok, seems like it should be fine. My main concern was if they asked for proof of bank transfer or a receipt and it mentions my business name instead of my actual name.

Do they normally ask for a receipt from the bank? Or is it a matter of just sending the funds, and then take the keys?

When I picked mine up, they checked my account and could see it had been paid.

 

[iKilledMufasa]

When I picked mine up, they checked my account and could see it had been paid.

Your bank account or tesla account?

 

[init6]

Your bank account or tesla account?

Think about that one.

 

[Rooster6655]

Your bank account or tesla account?

When you make a payment it shows on your Tesla account page as received, they check their system

 

[iKilledMufasa]

Ah right. Seems like they don’t actually care who pays it, as long as its paid. I’m guessing the process is the same for brand new and approved used.

 

[Nicjwin]

I just tried putting the bank details from my app message to pay now and Lloyds said STOP account details cannot be verified . Is that because Tesla use CitiBank

 

[iKilledMufasa]

I just tried putting the bank details from my app message to pay now and Lloyds said STOP account details cannot be verified . Is that because Tesla use CitiBank

Was it just warning you or it didn’t allow you to push the payment through?

 

[WllXM]

Yes it’s just a warning because they use citi.

You can do a test payment of £10 and it will show up shortly in your account to confirm receipt.

 

[KennethS]

The Tesla account being with Citi always seems to flag up a "can't confirm recipient" from my bank. As others have suggested, do a small transfer first if you are cautious and confirm it is credited to your Tesla account before sending the main payment(s).

I don't think Tesla cares about the name on the account that the money is sent from. We recently purchased a Model Y. The money was paid from my bank account and the car registered in my wife's name. She and I have different surnames.

 

[Nicjwin]

My payment screen just disappeared went back to the usual EDD , but my account shows the £10 test payment i made . Called Tesla they said wait for the delivery text

 

[MashinBenzin]

Slightly tangential, but is it possible to overpay the pcp by sending extra payments with the same reference as the deposit?

 

[greenbottle123]

There is no issue in paying from business and there is no issue when collecting keys. They will see it cleared and no need for insurance proof