Tesla taking payment and delaying delivery

[Y am I here]

The gm of the tesla location said it was a faulty fastener issue. Not exactly sure what that means but they are waiting for a part to be delivered.

given everything going on in the world, I think there are bigger issues to be concerned about. Delaying delivery for a few days (or even weeks) is not a huge deal. I already paid but if you need the money for stock trades, not sure it makes sense to order a new car (regardless of brand).

let’s all take perspective, I’m sure the folks working at tesla must be stressed on many levels, no need to add to it!

It's not needing the money... It's losing the opportunity to make $10-20k with that money that they tie up for a month.

 

[moswissa]

It's not needing the money... It's losing the opportunity to make $10-20k with that money that they tie up for a month.

A month?! What’s what they told you?

 

[Shayne]

It's not needing the money... It's losing the opportunity to make $10-20k with that money that they tie up for a month.

Where are you making that now a days? The cars is not even worth 100,000. How long have they had your money for? I would love to know what percentage returns you make in this current environment and where you are making it. For most it might have made more by having them hang onto to it.

 

[rxlawdude]

Where are you making that now a days? The cars is not even worth 100,000. How long have they had your money for? I would love to know what percentage returns you make in this current environment and where you are making it. For most it might have made more by having them hang onto to it.

Maybe he's shorting TSLA. (jk!!)

 

[Deans]

Tesla does this often. They are called "financial deliveries" within Tesla. They charge customers in full near the end of the quarter and then delay delivery until after the end of the quarter. I've mentioned this in another thread and it happened with the Model 3 as well.

You should file a complaint with your AG. it's not a quality issue. It's just how they pad cash balance near quarter end.

Good luck.

 

[PlaidCPA]

Tesla does this often. They are called "financial deliveries" within Tesla. They charge customers in full near the end of the quarter and then delay delivery until after the end of the quarter. I've mentioned this in another thread and it happened with the Model 3 as well.

You should file a complaint with your AG. it's not a quality issue. It's just how they pad cash balance near quarter end.

Good luck.

If Tesla took your money and held it for a month you made more money than any investor in the market /s

@Deans this picture is for you

 

[mongo]

It's just how they pad cash balance near quarter end.

Anyone who cares about the cash line item knows enough to subtract the customer deposits line item.

 

[Deans]

They also max out their ABL the day before the quarter end and then they pay it back at the start of the next quarter. Low interest income is the tell.
Many Tesla investors are not professional investors. They hear "$6B cash balance" and that's about it.

 

[hutsy]

Tesla does this often. They are called "financial deliveries" within Tesla. They charge customers in full near the end of the quarter and then delay delivery until after the end of the quarter. I've mentioned this in another thread and it happened with the Model 3 as well.

You should file a complaint with your AG. it's not a quality issue. It's just how they pad cash balance near quarter end.

Good luck.

do you have any evidence of this?

 

[Deans]

Yes I do. But you can start by searching to forum.
If 90% of the cars had this problem, why are they still having customers pay and then canceling the night before?
People had "pay and night before cancelations" last week too.
With the Model 3, they pretended they "lost the cars" and assigned a new VIN.

 

[mongo]

They also max out their ABL the day before the quarter end and then they pay it back at the start of the next quarter. Low interest income is the tell.
Many Tesla investors are not professional investors. They hear "$6B cash balance" and that's about it.

Unless the cash line item is teetering around 5.5 Billion, even 1,000 cars ($50 Million) isn't going to make a difference.

Getting the payment earlier make things go faster.
End of quarter has lots of deliveries
Some deliveries shift.

So one would expect there to be more missed deliveries, with full payment, at the end of the quarter.

 

[moswissa]

Yes I do. But you can start by searching to forum.
If 90% of the cars had this problem, why are they still having customers pay and then canceling the night before?
People had "pay and night before cancelations" last week too.
With the Model 3, they pretended they "lost the cars" and assigned a new VIN.

Well that sucks because I have a delivery date in 6 days and VIN assigned, and I already paid my downpayment. Does that count as a sale? I don't want Tesla to start to take their time.

 

[Deans]

If you didn't pay in full, you are probably ok.

 

[moswissa]

If you didn't pay in full, you are probably ok.

I called local Tesla, the delivery department is closed. They are only doing home deliveries because of COVID