Was provisionally approved for car on 5/30 was given vin and delivery window 6/8-6/17 but am confused about financing

[Ama078]

After being conditionally approved it asked for proof of residence. I uploaded a picture of my bank statement. After getting message though app that it needed to be a utility I uploaded a gas bill online account screen shot. Since doing that I got the vin number and a change of delivery date from May-June that came on May 30 to June 8-17 on Monday June 3 but it still says continue the tasks to not delay delivery. Only task was adding the proof of residence there is no way to add an additional one like a water bill so I am confused.

I called finance on Tuesday explained to the who said someone just needs to check a box or something and they are busy he said he could see someone had checked the order I guess when I was being told to change from bank statement to utility bill.

If anyone has any similar experiences or advice. Please let me know credit check was done by capital one finance if that makes any difference but got that by checking my credit report not from any Tesla app or agent information.

TIA,
Anthony

 

[Ama078]

Also I putting down 14k +7500 tax credit anybody think I will not be approved credit score is 766

 

[shingles]

You'll be fine. Can't say if you will be approved but, don't see why not.
There'll be a flurry of activity right before the car shows up. Don't worry so much. Tesla wants you to buy this car probably more than you may actually want it.

 

[DBC-]

I applied in mid-late May and have heard nothing back as of this post. The advisers are trying to hurry it along. Don't worry, they're apparently slammed.

Agreed, Tesla probably wants to sell me a car more than I want to buy one. Don't worry about it right now.

 

[gkaiser]

I was approved with a credit score of 740 for the 1.99% special with my only downpayment being the federal incentive.

 

[Ama078]

Wow that makes me feel better but I am still listed as conditionally approved but have a scheduled pic up day of wed 11am seems strange I’d like more confirmation before I insure the car.

Sales associate said he just thinks box was not checked by someone he would email them and fix it but I also sent him a pdf of my gas bill with last 12 month of payments that I picked up from the office because I thought maybe the problem was my paperless billing screen shot which is handled by a third party for our gas company thought that might have been the reason for the pending status but the sales guy or whatever you call the people at Tesla that help you(which he has been great assuming everything goes through). He said don’t change anything and he’ll send email to move things along and other forum members have said don’t worry they are xtra busy and once your delivery window get near things will happen fast. That has been true.

Other thing that surprised me originally given date June 8-17 and all changes happened this morning was surprise by only being offered this mon-wed for pick up as I’m a few hours away. Anyway I’ll be ready to pick it up but would like 100% confirmation on loan before I get insurance and down paymeny ready for check transfer or cash. Not to mention the .99%APR confirmation. I had seen where some people said they got the offer but at worse APR. don’t think I could take a higher rate it would be insulting at this point.


If anyone has similar experiences or advice about the purchase process. Would love to hear it.

Hopefully I’ll get new car this coming Wednesday have been telling myself I don’t have it since says conditional and has not changed even though was excited for the quick conditional approval I expected another quick change after giving proof of residence.

Will update thread with results either way in case it can help anyone else feel more secure through process.

TIA,
Anthony

 

[tesdomz]

Also I putting down 14k +7500 tax credit anybody think I will not be approved credit score is 766

I used to work with underwriters, so I have some insights into this process. With a $14k down payment, a credit score of 766, no collections, and a conditionally approved application, you are likely 99% approved as long as you provide the requested documents.

Since they are not asking for income documents, your rate is probably already calculated at around 0.99%. However, it's worth noting that getting matched with Capital One at that rate is quite rare. Have you chosen Capital One because of a long-standing relationship? If not, and they end up offering a different rate, you might consider asking Tesla to find another lender with a similar promotion. Be aware, though, that this could be tricky and might require some negotiation to explain that you placed the order last month specifically for the 0.99% rate.

 

[tesdomz]

Wow that makes me feel better but I am still listed as conditionally approved but have a scheduled pic up day of wed 11am seems strange I’d like more confirmation before I insure the car.

Sales associate said he just thinks box was not checked by someone he would email them and fix it but I also sent him a pdf of my gas bill with last 12 month of payments that I picked up from the office because I thought maybe the problem was my paperless billing screen shot which is handled by a third party for our gas company thought that might have been the reason for the pending status but the sales guy or whatever you call the people at Tesla that help you(which he has been great assuming everything goes through). He said don’t change anything and he’ll send email to move things along and other forum members have said don’t worry they are xtra busy and once your delivery window get near things will happen fast. That has been true.

Other thing that surprised me originally given date June 8-17 and all changes happened this morning was surprise by only being offered this mon-wed for pick up as I’m a few hours away. Anyway I’ll be ready to pick it up but would like 100% confirmation on loan before I get insurance and down paymeny ready for check transfer or cash. Not to mention the .99%APR confirmation. I had seen where some people said they got the offer but at worse APR. don’t think I could take a higher rate it would be insulting at this point.


If anyone has similar experiences or advice about the purchase process. Would love to hear it.

Hopefully I’ll get new car this coming Wednesday have been telling myself I don’t have it since says conditional and has not changed even though was excited for the quick conditional approval I expected another quick change after giving proof of residence.

Will update thread with results either way in case it can help anyone else feel more secure through process.

TIA,
Anthony

You can find out the status of your application. Just call the bank. If its approved. Then you are good to make a appointment with tesla for the pick up. And make sure you have current insurance when you pick up. Dont worry, your insurance company will not bill you until you pick up the car. When you pick up the car you can call them and tell them the date you picked it up and they will prorate it for you.

 

[Ama078]

Yes thanks for both the inputs I have a capital one card I use but pay off but no relationship I would consider longstanding or important. However did talk with them and apparently the hold up was an address issue I mentioned which they should have cleared up today everything license bills credit report has my correct address but I guess there computer tried to self correct to a Google or typical navigation and shipping error I see where they want to act like my street has same name ast the one directly across the 4 way at the main rd I live at.

It’s such a normal thing I have felt with that when it comes up automatically with a web site shipping I can accept that name and it makes it here. Not sure how they let it happen even though everything else I mentioned including credit report has the proper address. Also I did not have choice on lender they had matched it with no input from me. I too though capital one was strange too I did not know they did car loans.
They almost had me go through process again with new address but I said I would rather wait than risk possibly losing the .99 apr which he said should not be a issue because of my reservation number he said only way he could foresee problem was if another hard pull on credit could lower score enough to cause a problem. They made it sound like either way would work and redoing it would be faster. Think he personally blamed Elon Musk for the problem I am having. Saying they tried to take the people out of it so much that making changes is harder than just doing again I guess it’s all about the stuff matching up and as long as it does no people.

Anyway waiting it out supposedly picking up tomorrow but I think I will probably push until Friday even if approved but guess I’ll find out.

Thanks for insurance info I found out by calling my current guy and giving him info that he would turn it on email me vin proof of ins but still seems strange because normally all I have done in past is say I think I’m buying a car and they told me to call them with in 48 hours of getting back with it.

I can recommended anyone buying one to go to there local “delivery center” which I don’t have because they should be there to help you through the process. Mine is over 2 hours away so I did not test drive go look at them or anything.

 

[Ama078]

You can find out the status of your application. Just call the bank. If it’s approved. Then you are good to make a appointment with tesla for the pick up. And make sure you have current insurance when you pick up. Dont worry, your insurance company will not bill you until you pick up the car. When you pick up the car you can call them and tell them the date you picked it up and they will prorate it for you.

Also when I first called they told me not to call capital one they would give the extra proof of residence I provided to them if capital one had problem and asked for it. Told me everything was approved and I shouldn’t change anything. They did contact me through app to say finish your online tasks or whatever they had called them insurance and document signing I guess but that was my problem the document tabs were not populating with my specific loan info

 

[Ama078]

Well they sorted everything out today started to try to get me to go through process again i assume with them entering info and as long as hard check didn’t change score enough to disqualify I would be fine I decided that I could wait for corrections to be made.

Long story short they got address fixed but did change the loan to JPMC which as I think I mentioned I was glad about not a fan of capital one. So hope these posts help ease someone else’s mind. Someone today at local place in Pitt that I am picking up told me not to plan on coming tomorrow but as soon as got off phone and planned to talk with someone else. All notifications came through and status on proof of residence changed to approved also

Will post back if pick or inspection has any issues.

 

[Honda Convert]

Well they sorted everything out today started to try to get me to go through process again i assume with them entering info and as long as hard check didn’t change score enough to disqualify I would be fine I decided that I could wait for corrections to be made.

Long story short they got address fixed but did change the loan to JPMC which as I think I mentioned I was glad about not a fan of capital one. So hope these posts help ease someone else’s mind. Someone today at local place in Pitt that I am picking up told me not to plan on coming tomorrow but as soon as got off phone and planned to talk with someone else. All notifications came through and status on proof of residence changed to approved also

Will post back if pick or inspection has any issues.

I pick up my vehicle in Eastern PA tomorrow as well and like you financing was changed from Capitol One to JP Morgan.

 

[Ama078]

Picked up a day late my choice. I am amazed by how much it exceeded my expectations.

If anyone has any info on track mode and what people’s favorite settings are. I know it lets you adjust regeneration percentage I assume in case you just want to nail the brakes as hard as possible before turning. Also I think it disable your stability and traction control. Or adjusts it because I noticed a drift mode. Seems like over kill but guess I’m curious if we are talking 4 wheel drifts or takes power from front wheels making it rwd for sliding.
I do kind feel like if you can not do it without a mode probably shouldn’t be doing it. Seems like you can only turn track mode on while stopped.

Anyway hope thread helps some people and if there are no reply’s about track mode info or experiences I will not be posting back. Unless problem arises. Actually during inspection I found a small scratch on my passenger door handle. At first I thought it was wax but now I think the paint needed sanded buffed etc near the 90° angle where goes in to make space for handles and while trying to get rid of it I think they grinded or sanded the handle. Anyway after establishing this they set up an appointment immediately through the app and someone is coming to my house to replace it on June 18th. I just picked up on the 13th. I live 3 hours 15 min away.
The pick up place had a service center and it is the nicest cleanest garage I have ever seen. Once you add your car to your app on your phone and it becomes your key, It opens up so many options and filters.

Best car I have ever bought never had my expectations exceeded like this my Supra in 97 when I got a 1994 red turbo 6 speed for $24,500 with 16k miles. Did the same and maybe more in performance especially back then but the comfort handling and low center of gravity make this big suv handle like a sports car. So wrapping up thread now unless it’s to reply and I guess if I hear nothing I’ll post after the home service appointment.

Very Excited,
Anthony

 

[remeddy]

After being conditionally approved it asked for proof of residence. I uploaded a picture of my bank statement. After getting message though app that it needed to be a utility I uploaded a gas bill online account screen shot. Since doing that I got the vin number and a change of delivery date from May-June that came on May 30 to June 8-17 on Monday June 3 but it still says continue the tasks to not delay delivery. Only task was adding the proof of residence there is no way to add an additional one like a water bill so I am confused.

I called finance on Tuesday explained to the who said someone just needs to check a box or something and they are busy he said he could see someone had checked the order I guess when I was being told to change from bank statement to utility bill.

If anyone has any similar experiences or advice. Please let me know credit check was done by capital one finance if that makes any difference but got that by checking my credit report not from any Tesla app or agent information.

TIA,
Anthony

Did they say if you can use anything else besides a utility? I rent a room so nothing is really in my name. I also sent a bank statement but no reply on it.

 

[Ama078]

I pick up my vehicle in Eastern PA tomorrow as well and like you financing was changed from Capitol One to JP Morgan.

Hope you liked yours as much as I do mine. Is this your first Tesla?

Again for everyone else the buying experience was amazing the problem I started thread over had to do with my initial setting up app to buy car in the begining. It did not recommend my address it showed some options and I choose one that changes street name but is right house number. The road is also very short and there is 4 way with main road. It goes up a hill past a dq and stop maybe 1-1.5 regular sized city block and on my side of 4 way it’s called Scott lane and goes much farther. Anyway this is normal and I select it regularly to get my stuff shipped here I think Google mislabeled first and I finally gave up on trying to get them to fix it.
Anyway this was the only hold up and why they wanted proof of residence and then just left it pending never getting past that. Once I find the issue and told them bc I had told them verbally early on and either they or I corrected but not at very first place where you enter info when you first start app up. Possibly called the registration tab anyway once they fixed that one. Everything went through immediately as far as multiple messages assuring me it is now approved not conditionally approved anymore. It still wanted my to go through all tabs again and make sure they were read scanned and or agreed too, so the car delivery date is not delayed.
Well that’s last post of mine in thread unless it’s to answer question or reply to info about track mode. Past that will update after service appointment happens in driveway it’s on 17th or 18. Can’t remember but will post back after service appointment. I am sure it will go well.

Did they say if you can use anything else besides a utility? I rent a room so nothing is really in my name. I also sent a bank statement but no reply on it.

id call the closest Tesla place and get advisor to help you out. But even though I thought my problem was proof of residence it was not. When I selected the app it said to me that it did not recognize what I typed in and I selected an address that Google has mislabeled my place as bc I do it regularly when ordering online with new places so I didn’t think much of it. Was one of first steps when opening app before you even really start trying to buy the car. Anyway that not matching what I typed in everywhere else what’s on my license credit report etc…. was my problem. Hardest thing was getting a person to get ahold of another person to change it. At one point I was told I should probably just start over but I did not want to risk losing the .99%

 

[Ama078]

I say getting one person to reach another and talk was the problem because they think emails or messages will solve it all but lots of times that means they over look something. At first I was told a box probably just was left unchecked by accident so I think either it wasn’t or the first email the advisor sent corrected it but by time I was saying I’m not going to redo process it showed everything was going through or that it should have been but it was the non matching addresses from the begining not the proof of residence. If it had matched I guess I would have never needed to provide the proof. So might try to set it up or start with whatever is on your credit report or contact credit bureaus to change it to where you are at.

 

[Peter N]

Wow that makes me feel better but I am still listed as conditionally approved but have a scheduled pic up day of wed 11am seems strange I’d like more confirmation before I insure the car.

Sales associate said he just thinks box was not checked by someone he would email them and fix it but I also sent him a pdf of my gas bill with last 12 month of payments that I picked up from the office because I thought maybe the problem was my paperless billing screen shot which is handled by a third party for our gas company thought that might have been the reason for the pending status but the sales guy or whatever you call the people at Tesla that help you(which he has been great assuming everything goes through). He said don’t change anything and he’ll send email to move things along and other forum members have said don’t worry they are xtra busy and once your delivery window get near things will happen fast. That has been true.

Other thing that surprised me originally given date June 8-17 and all changes happened this morning was surprise by only being offered this mon-wed for pick up as I’m a few hours away. Anyway I’ll be ready to pick it up but would like 100% confirmation on loan before I get insurance and down paymeny ready for check transfer or cash. Not to mention the .99%APR confirmation. I had seen where some people said they got the offer but at worse APR. don’t think I could take a higher rate it would be insulting at this point.


If anyone has similar experiences or advice about the purchase process. Would love to hear it.

Hopefully I’ll get new car this coming Wednesday have been telling myself I don’t have it since says conditional and has not changed even though was excited for the quick conditional approval I expected another quick change after giving proof of residence.

Will update thread with results either way in case it can help anyone else feel more secure through process.

TIA,
Anthony

Tesla is good at making great cars. Most everything else they do is hit or miss, amateurish and disorganized. Oh, and also, they think that they are doing you a favor to sell you a car.