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when does the ACH payment option open up on your account?

Discussion in 'Model 3' started by crackers8199, Jul 27, 2018.

  1. crackers8199

    crackers8199 Member

    Joined:
    May 31, 2015
    Messages:
    293
    Location:
    lake elsinore, ca
    things have moved very fast, almost a little too fast...i'm financing through tesla, got my delivery scheduled for monday. my account still says they're drafting my contract and will let me know when i can make the final payment, but my main bank is online only and the remainder of the down payment is coming from the east coast - and to make things worse, obviously the weekends aren't business days. obviously i have to make the down payment before taking delivery on monday afternoon, but i can't get a cashiers check before then since there's no branch nearby for me to get one from. i've been trying for the past 48 hours or so to get in touch with my delivery advisor, without any luck.

    those of you who have paid in full via ACH or also made downpayment via ACH, what should i be expecting here? i'm starting to get a little worried that we will have to delay because the money won't be here in time...
     
  2. commasign

    commasign Tesla Superfan

    Joined:
    Aug 31, 2013
    Messages:
    1,938
    Location:
    Davis, CA
    Exactly 3.5 hours before scheduled delivery. I was literally refreshing my browser every 30 minutes for the last 24 hours. ;)

    The good news is that once you initiate the ACH payment, your account is immediately updated to show as payment received. No need to wait for the payment to actually clear/post.
     
    • Informative x 1
  3. Promo714

    Promo714 Member

    Joined:
    Aug 6, 2015
    Messages:
    41
    Location:
    Yorba Linda, CA
    Wow, you got it waaaaay before me. Mine was enabled roughly 2 hours before delivery appointment. I emailed my Tesla contact a couple times to confirm it was still happening that day.
     
  4. RayK

    RayK Member

    Joined:
    Apr 5, 2016
    Messages:
    439
    Location:
    San Jose, CA
    I picked up my car from the Fremont, CA delivery center earlier this month. Paid in full with cash; no financing so this is slightly different from your case. My ISA said I could use a cashiers check or execute an ACH payment at delivery, thus I'm not sure if the ACH option appeared in my account before pickup.

    In my opinion, as long as the funds are in your bank account prior to arriving at the delivery center, you can submit an ACH payment when you pick up your car. The delivery guy had me sign into my account and the ACH payment was there. You only need to provide the banking information and it should go through right away. My bank recorded the transaction a couple of days later.
     
  5. ronm2948

    ronm2948 Member

    Joined:
    Jul 20, 2018
    Messages:
    38
    Location:
    Oregon
    I’m just curious, but what rate is Tesla giving right now? I’m trying to decide if I go the easy route and finance through Tesla, or if I should search around to see if I can find a better rate elsewhere.
     
  6. crackers8199

    crackers8199 Member

    Joined:
    May 31, 2015
    Messages:
    293
    Location:
    lake elsinore, ca
    mine was 3.55% for 72 months.
     
  7. commasign

    commasign Tesla Superfan

    Joined:
    Aug 31, 2013
    Messages:
    1,938
    Location:
    Davis, CA
    Same here. There are definitely better deals out there from credit unions, but I plan to pay off quickly and didn't want the hassle of a 3rd party lender given all the contract glitches Tesla is having right now.
     
    • Like x 1
  8. ronm2948

    ronm2948 Member

    Joined:
    Jul 20, 2018
    Messages:
    38
    Location:
    Oregon
    Thanks for the info! I’ve heard of some people getting lower rates, but when I look around at local banks, 3.55% is about as good as I’ve seen.
     
  9. Robert831

    Robert831 Member

    Joined:
    Jul 22, 2017
    Messages:
    89
    Location:
    Watsonville, CA
    My delivery will be Tuesday. But I can get a cashier's check locally before I go to pick up. No ACH button on my account yet. I also got 3.55% through Tesla, but I plan to pay it off soon.
     

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