Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.
Register

Texas Hold Up!

This site may earn commission on affiliate links.
#1,281
zkmusa said:
Lightstream does unsecured auto loans for those with qualifying credit. As a result, they don't hold a lien on your title. Instead, they deposit the money in your account, which allows you to "pay in cash" when you make your vehicle purchase.
Click to expand...
This technically means, they are giving you a cash loan, and not really an auto loan. You can use that cash for any purpose.

It is incredible that they are giving out cash loans for a very low auto-loan rate of , because typically cash loans have a MUCH higher interest rate.
 
#1,282
Electroman said:
This technically means, they are giving you a cash loan, and not really an auto loan. You can use that cash for any purpose.

It is incredible that they are giving out cash loans for a very low auto-loan rate of , because typically cash loans have a MUCH higher interest rate.
Click to expand...
Except you'd be breaking the terms of the agreement, specifically "Use of Proceeds" section.

Would you get caught if you make all your payments on time, etc? Maybe not, but I wouldn't want to chance it.
 
#1,283
Electroman said:
This technically means, they are giving you a cash loan, and not really an auto loan. You can use that cash for any purpose.

It is incredible that they are giving out cash loans for a very low auto-loan rate of , because typically cash loans have a MUCH higher interest rate.
Click to expand...

LonestarV said:
Except you'd be breaking the terms of the agreement, specifically "Use of Proceeds" section.

Would you get caught if you make all your payments on time, etc? Maybe not, but I wouldn't want to chance it.
Click to expand...

That's correct. It's essentially a personal loan. The loan is taken out as an auto loan, but nowhere in the agreement does it say, "this is an auto loan." However, the "use of proceeds" says the loan must be used for the intended purpose given on the application. Here's the use of proceeds section:

USE OF PROCEEDS: Loans are made to individuals, not to businesses. You agree to use the proceeds of this loan for the purpose indicated by you in your application for this loan. You agree not to use any of the proceeds of this loan for refinancing any existing loan with LightStream or for the funding of college or post-secondary educational expenses or refinance loans that were used for such purposes. You further agree, if so requested by LightStream, to promptly provide written verification of the use of the proceeds of this Agreement, in a form satisfactory to LightStream.
 
#1,285
164 Model 3s have been registered as per the latest release of EVNT registration data as of 4/3.

Dallas-Fort Worth Clean Cities

TX TM3 - 03-Apr.png
 
  • Informative
Reactions: bollar and geoffreak
#1,288
I am honestly surprised they havent set up an offsite delivery center in Dallas yet to get more done. I am not sure how fast or if they are considering ramping up staffing but my DS said they are working 16 hour days and thats not even enough.

Imagine when they really ramp up production.
 
#1,293
darrelld said:
March 31st online before reveal reservation holding coworker in Plano has not recieved an invite.
Click to expand...
Gotta be getting close. Per the spreadsheet only 23 left in TX that reserved in store and have not received an invite and if you select the DFW area only 6 left in the spreadsheet without an invite from inshore. For Online people about 41 left in TX and it looks like only 15 or so from the DFW area left that reserved online the first day.

Wow - and I just noticed I didn't see @QuickSilver in my list when filtering out those have not ordered, went back and sure enough - he was invited on Monday and already has a VIN. Congrats on the hold out. PS - You'll have a twin in the Richardson area, I met a guy on Sunday that was kind enough to show us his car. You'll be twins. Very sharp looking and I was very impressed with the car top to bottom.
 
Last edited:
#1,294
Zaphod said:
I'm in the same boat :(...hopefully soon
Click to expand...

Looking at the data from the invite sheet, almost all of online 03/31/16 reservation invites in the 04/06 batch were allotted to NY, FL, NC, OH, MI, TN i.e. entirely east coast. Surprisingly none in NJ, GA which are states with a larger number of reservations which I presume will be handled next.

Pretty sure we should see TX 03/31/16 non owner online reservation invites being issued in the next two batches.
 
You must log in or register to reply here.

Similar threads

T
  • Question
Advise On Order Hold Please
Replies
1
Views
1K
Model Y: Ordering, Production, Delivery
flai54
F
B
Delivery & Trade-In Paperwork Question
Replies
1
Views
660
Model Y: Ordering, Production, Delivery
bfilippo
B
bookiepilot69
New Model 3LR delivery mystery
Replies
2
Views
251
Model 3
zoomer0056
zoomer0056
Teslaunch
  • Article
Vendor 🚀GIVEAWAY! Teslaunch Model 3 Performance Rim Protector Product Drop: Join Our Test Program
Replies
4
Views
294
Model 3: Interior & Exterior
suzanne2023
S
B
Passenger window not working on new 2024 Tesla Model 3
Replies
5
Views
263
Model 3
bgalbs
B
Top
Back
Blog
New
Forum list
Marketplace
Menu