TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker and becoming a Supporting Member. For more info: Support TMC
Start a Discussionhttps://teslamotorsclub.com/tmc/tags/

Using Credit Card for Down Payment!?

Discussion in 'Model X: Ordering, Production, Delivery' started by Dj B, Dec 22, 2016.

  1. Dj B

    Dj B Member

    Joined:
    Nov 15, 2016
    Messages:
    93
    Location:
    Nevada
    Has anyone used their CC for their down payment? I am putting down about 20k and need to use my CC for the points, but the DS sent a general email outlining that it would need to be done via bank transfer. Anyone who has taken delivery have any insight?
     
  2. deque

    deque Member

    Joined:
    Nov 21, 2016
    Messages:
    49
    Location:
    USA
    You can't put your downpayment (minus the $2500 reservation) on a CC. They would get charged credit card processing fees (~3%) on all 20k if they let you put it on your CC. That would cost them $600+.
     
  3. jbcarioca

    jbcarioca Active Member

    Joined:
    Feb 3, 2015
    Messages:
    2,647
    YMMV. I put my reservation on a CC and the confirmation too (2014, though). The final payment I wired.
     
  4. LosAngelesDude

    Joined:
    Oct 22, 2016
    Messages:
    54
    Location:
    Los Angeles
    Except the deposit amount, So they don't let you put any amount on the CC?
     
  5. MrRandyB

    MrRandyB Member

    Joined:
    Jan 24, 2016
    Messages:
    147
    Location:
    Delaware
    I have tried to do this before also for the points, usually there is some sort of limit that is imposed by the entity selling the vehicle. I purchased a GLK and was allowed to do $5K on a CC only.
     
  6. hmmm

    hmmm Member

    Joined:
    May 12, 2015
    Messages:
    695
    Location:
    Driver Seat
    Only deposit amount for me too. These CC processing fees would add up quickly.
     
  7. Dexter

    Dexter Member

    Joined:
    May 8, 2015
    Messages:
    5
    Location:
    California
    Yes, it would be nice to get all those points, but those points are paid for from the fees the merchant is charged for the credit card transaction. You can use a credit card for the initial deposit, but not for the remaining amount of the down payment.
     
  8. Jay MX

    Jay MX Member

    Joined:
    Aug 22, 2016
    Messages:
    33
    Location:
    Las Vegas, NV USA
    The only thing Tesla accepts credit card payments for related to new purchases is the deposit. All subsequent payments must be made via a personal check (which they do an EFT on), or a cashier's check. They do not accept credit cards during the delivery process at all.
     
  9. Darryl

    Darryl ModelXTracker.com Co-Adm

    Joined:
    Jul 27, 2015
    Messages:
    608
    Location:
    Palm Beach FL
    They won't accept credit card for down payment only check or bank transfer.
     

Share This Page