Texas Hold Up!

[zkmusa]

For other DFW area buyers, I've locked in a great interest rate from Credit Union of Texas (initial offer was higher than what I was planning to go with from TechCU, but they raised my application up the chain to try to beat that, and I ended up with a call back offering 2.0% for 72 months, in less than 15 minutes). So far so good; they're responsive and willing to help me get financing done ASAP.

Welcome to the forums!

I wanted to ask if Credit Union of Texas fixed the issue of not being able to provide a loan on Teslas. Previously, they required a physical copy of the "Manufacturer Certificate of Origin" prior to releasing the loan. There was a post previously where the owner could not get CUTX to budge on this despite calls from Tesla to the credit union.

Here's a link to that conversation: CU of Texas cannot "Close" a Tesla Loan

Thanks for your help. I was also thinking about getting a quote from CUTX until I found that thread.

 

[AccelAdvent]

Welcome to the forums!

I wanted to ask if Credit Union of Texas fixed the issue of not being able to provide a loan on Teslas.
....
Here's a link to that conversation: CU of Texas cannot "Close" a Tesla Loan.

Oh wow, I hadn't seen that thread... thanks so much for bringing it to my attention. I'm still early in the process with CUTX (don't even have a purchase order from Tesla yet), so I'll reach out right now to see whether this may be a concern. Will keep you posted...

 

[AccelAdvent]

A little more back-and-forth with CUTX.... hopefully the concerns from that other thread (over two years old at this point) are outdated, but we'll see as I get further in the process. It'll hurt if this bargain hunting on interest rates delays my shipment/delivery!

Since you are purchasing the vehicle from out of State we would just need the dealership to sign a letter of guarantee stating they are still processing title work.

Still no word from ISA (another call into Tesla, with another promise for callback in 24-48 hours), so I still don't have my purchase order / MVPA in order to get CUTX to the next step.

Certainly feels way closer than it has at any point in the past two years though!

 

[spudnik187]

Certainly feels way closer than it has at any point in the past two years though!

That is the problem. Welcome to hell.

 

[nwfan]

Finally received my VIN 83xx ordered 2/14
White 19”. Dallas p/u.

Model S owner

 

[Electroman]

Is it okay to look for financing after receiving the VIN? I am guessing you still have 3 more weeks to go before delivery?

 

[Boourns]

Is it okay to look for financing after receiving the VIN? I am guessing you still have 3 more weeks to go before delivery?

You'll want to do that ASAP. Tesla won't even put the car on the truck to Texas until it receives a check from your bank for the full purchase price of the car. The majority of those three weeks are shipping and service center prep. If you have to deal with getting financing arranged it will only add to the delay.

Here was my timeline:
VIN late on 3/2 (a Friday).
Call from ISA on 3/5. Got final paperwork and financing finalized same day.
Check delivered to Tesla 3/7.
Call from ISA 3/7 to set up delivery for 3/17.

 

[Electroman]

Thanks for that information.

Texas until it receives a check from your bank for the full purchase price of the car.

Whey would the bank send out a check for the full price, when I will be putting some down payment? Thats what I did when I bought CPO. Bank paid 80% and I took a personal check for the remaining 20% at the delivery. And that was for a car that cost $15k more than this new M3

 

[Boourns]

Whey would the bank send out a check for the full price, when I will be putting some down payment? Thats what I did when I bought CPO. Bank paid 80% and I took a personal check for the remaining 20% at the delivery. And that was for a car that cost $15k more than this new M3

What I said was an over simplification. If you put down more money than the $3500 you already paid, you pay the additional directly to Tesla through your My Tesla account. Once you tell your ISA how you are paying, he/she will prepare the final paperwork accordingly and your My Tesla account will be updated so you can pay your portion. Both your payment and the bank's check have to be complete/received before Tesla will put the car on the truck.

 

[ℬête Noire]

Whey would the bank send out a check for the full price, when I will be putting some down payment? Thats what I did when I bought CPO. Bank paid 80% and I took a personal check for the remaining 20% at the delivery. And that was for a car that cost $15k more than this new M3

That's a used car, though. I understood that "new car" changes everything under TX law?

 

[AccelAdvent]

My ISA called me yesterday (~7:15pm - she apologized for the late call, but I told her to call me at midnight if she wanted to!). Sent over my preapproval docs and updated insurance (I had already uploaded the version referencing TechCU as lienholder to the website, and it wouldn't let me upload a new one now that I've switched to CUTX). She said it would be about 1-2 weeks for delivery after payment is completed, but she's hoping that can get done quickly enough to have my car on a truck by the end of this week. Fingers crossed for a Q1 delivery still, but I also told her the lease on my Leaf is up on April 14th and she said she'd note my file, and that it would be 'no problem' to get my delivery scheduled before that. (is it too late to pretend the lease is up on April 1st? )

Noticed this morning that the 'Payment Method' section of the configurator was changed to allow me to specify financing details. It seems like a promising sign that Credit Union of Texas was in the auto-complete list for lenders. Still hoping the issues with financing Teslas through them in that 2015 thread are fully resolved.

 

[zkmusa]

My ISA called me yesterday (~7:15pm - she apologized for the late call, but I told her to call me at midnight if she wanted to!). Sent over my preapproval docs and updated insurance (I had already uploaded the version referencing TechCU as lienholder to the website, and it wouldn't let me upload a new one now that I've switched to CUTX). She said it would be about 1-2 weeks for delivery after payment is completed, but she's hoping that can get done quickly enough to have my car on a truck by the end of this week. Fingers crossed for a Q1 delivery still, but I also told her the lease on my Leaf is up on April 14th and she said she'd note my file, and that it would be 'no problem' to get my delivery scheduled before that. (is it too late to pretend the lease is up on April 1st? )

Noticed this morning that the 'Payment Method' section of the configurator was changed to allow me to specify financing details. It seems like a promising sign that Credit Union of Texas was in the auto-complete list for lenders. Still hoping the issues with financing Teslas through them in that 2015 thread are fully resolved.

Thanks for keeping us updated on the process!

 

[Electroman]

Bank of America told me that their quote and rate lock is valid only for 30 days..

 

[nwfan]

Notice change since purchasing my S. Have to pay for the car before Tesla ships. When did this happen? ISA? Use to be called DS. My 1st S DS was in Denver. Everything changed. Person is in LV. Is TX only state you have to pay for the car in advance?

 

[Ryan Webb]

Just had a call from the DS in Dallas, he moved up my delivery date from the 20th to the 15th! Day after tomorrow

 

[mark]

Just picked up my 3 - it perfect - super nimble and fun to drive.
Well worth the wait

 

[edeal]

We picked up ours today as well. It looks great and we had fun driving it for ~45 minutes before dropping it off for tint/OptiCoat.

Definitely drives like a lighter car than the Model S and a slightly different acceleration curve than my S85 (unfortunately, I haven't found myself at the front of the line at a stoplight yet). I also can't wait to take it on some of the winding roads around Austin .

It looks like delivery volumes are definitely ramping up in Austin. It seems like there is a truck (or two) arriving nearly every day now based on all the trips we made to the SC looking for our VIN in the lot.

 

[SomeJoe7777]

Took delivery this afternoon at the North Houston service center.

Super easy process, delivery specialist showed me the car, got phone paired for me, went through controls (although I'm a model S owner, so I know most of the stuff already). I took a hard look at the car all over, operated all controls, doors, etc. to make sure everything worked. Tried supercharging and mobile charger successfully, everything looked good.

Signed one document saying you've taken delivery, and drove off.

Autopilot/TACC took about 35-40 miles to calibrate. TACC is working good, but I wasn't on the freeway when it became active, so haven't had a chance to try AP yet.

Vehicle is nimble as all get out. Way lighter and more maneuverable than the model S, a real pleasure to drive.

Audio system is quite a bit better than the model S UHFS ... I'm quite happy with it. No longer have to turn up the volume a lot to hear clear speech.

Maps and navigation, at first glance, seem a lot better than the model S. The 3 appears to have Tesla's new mapping and nav system, and there's little features of the nav routing that seem to work better. I'll learn more as time goes on.

Well worth the wait, I hope everyone gets theirs soon!

 

[TexasEV]

Notice change since purchasing my S. Have to pay for the car before Tesla ships. When did this happen? ISA? Use to be called DS. My 1st S DS was in Denver. Everything changed. Person is in LV. Is TX only state you have to pay for the car in advance?

Remember the car isn’t being “sold” in Texas. The purchase takes place out of state so it’s already yours when it ships here. ISA (inside sales advisor) is different from delivery specialist. The delivery specialist is the person at your service center who orients you to the car.

 

[likeafox]

We picked up ours today as well. It looks great and we had fun driving it for ~45 minutes before dropping it off for tint/OptiCoat.

Definitely drives like a lighter car than the Model S and a slightly different acceleration curve than my S85 (unfortunately, I haven't found myself at the front of the line at a stoplight yet). I also can't wait to take it on some of the winding roads around Austin .

It looks like delivery volumes are definitely ramping up in Austin. It seems like there is a truck (or two) arriving nearly every day now based on all the trips we made to the SC looking for our VIN in the lot.

Curious as to who you're using for tint/opticoat. Did you use them for your S as well? And if you don't mind, how much are you paying?