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

With delivery date not until end of May at earliest, can I just wait to apply for financing?

Hey all - I ordered a Model 3 last week and my delivery date isn’t until late May/June. The online profile wants me to accept the trade in and apply for financing now, but with my delivery date out so far, I know I’d have to reapply. Does it matter if I just wait to fill out the finance information until I’m closer to delivery? I just want to make sure that’s not going to hold up my delivery date. Thanks!
 
  • Like
Reactions: lUtriaNt
this is talked about weekly on this forum. i recommend you take some time to research what others have done.

trade in -- if you want the most bang for your buck, try other online places like carvana, vroom driveway.com, shift, etc. if you want to trade in to lessen the ax load then i get it, but in general tesla will low ball your vehicle.

set financing to cash and when your date ranged get into a two week window, apply for financing, if that is what you want to do. if you do it through tesla, you should have 60 days. the trade in is 30 days. this info is on the tesla faq page.

congrats on your new car! be sure and post up in the waiting room of your trim and get familiar with other peeps who are in the same boat. ;-)
 
  • Like
Reactions: jjrandorin
Upvote 0

jjrandorin

Moderator, Model 3, Tesla Energy Forums
Moderator
Nov 28, 2018
15,065
19,455
Riverside Co. CA
Hey all - I ordered a Model 3 last week and my delivery date isn’t until late May/June. The online profile wants me to accept the trade in and apply for financing now, but with my delivery date out so far, I know I’d have to reapply. Does it matter if I just wait to fill out the finance information until I’m closer to delivery? I just want to make sure that’s not going to hold up my delivery date. Thanks!

The only reason to apply now vs later, is to lock in an interest rate for your application. Different financial institutions have different time periods they will lock the interest rate for an auto loan application.

Some are 60 days, some are 90 days. It sounds like if you go through tesla its 60 days (I use my own credit union, not tesla, and my credit union is 90 days for that lock).

Trades will likely have to be re evaluated.
 
Upvote 0

Products we're discussing on TMC...

About Us

Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.

Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.


SUPPORT TMC
Top