Payment question

Relpek45 · Aug 17, 2014

Hello all
Time to get a new car and looking much at tesla. With payment what is due at signing? Looking to buy not lease. Never had a car ordered. Is the initial payment due at signing or paid over period until it gets there or upon arrival? Is it always 10% or can it be less? How many months will they finance it over? Thanks much.

Chickenlittle · Aug 17, 2014

Relpek45 said:
Hello all
Time to get a new car and looking much at tesla. With payment what is due at signing? Looking to buy not lease. Never had a car ordered. Is the initial payment due at signing or paid over period until it gets there or upon arrival? Is it always 10% or can it be less? How many months will they finance it over? Thanks much.

That's a great question but should be addressed to tesla. Answers on a forum don't mean much. Also depends on state, options etc. not a pressure situation, can call tesla to find out

Merrill · Aug 17, 2014

The

Relpek45 said:
Hello all
Time to get a new car and looking much at tesla. With payment what is due at signing? Looking to buy not lease. Never had a car ordered. Is the initial payment due at signing or paid over period until it gets there or upon arrival? Is it always 10% or can it be less? How many months will they finance it over? Thanks much.

Do not know about financing, paid for mine. Once you configure your car on line it shows you your total cost less the $5000 deposit. I picked mine up at the factory and gave them a check for the balance at that time.

tiblot · Aug 17, 2014

Relpek45 said:
Hello all
Time to get a new car and looking much at tesla. With payment what is due at signing? Looking to buy not lease. Never had a car ordered. Is the initial payment due at signing or paid over period until it gets there or upon arrival? Is it always 10% or can it be less? How many months will they finance it over? Thanks much.

If you buy the car, payment in full is required. Either by you or by a lender.
The actual amount you have to put down is determined by your lender. Lenders have different terms. The two best I saw in May when I paid was:

DCU @ 100% financing, .99%, 65 months
Alliant @ 95% financing, 1.49%, 72 months

Relpek45 · Aug 17, 2014

tiblot said:
If you buy the car, payment in full is required. Either by you or by a lender.
The actual amount you have to put down is determined by your lender. Lenders have different terms. The two best I saw in May when I paid was:

DCU @ 100% financing, .99%, 65 months
Alliant @ 95% financing, 1.49%, 72 months

Thanks much. Any other purchasing with financing stories here? Can you pay at pickup or does it have to be when you ordered? Ty

Relpek45 · Aug 17, 2014

So you paid the $5000 at pickup months later? Thanks

astrotoy · Aug 17, 2014

No, the $5K is the deposit required at the time of the order. The balance is due at pickup or delivery. You can use a CC for the initial $5K deposit on line. I just paid with a personal check for the balance, no CC's allowed.

Relpek45 · Aug 17, 2014

Thanks. I thought 10% down is a requirement for purchasing. Can you get them to stretch out the term beyond 72 months? Thanks so much all

Ed Chan · Aug 17, 2014

Relpek45 said:
Thanks. I thought 10% down is a requirement for purchasing. Can you get them to stretch out the term beyond 72 months? Thanks so much all

Tesla financing is minimum 10% down, excluding tax and fees, and maximum 72 months. Other banks/credit unions have different terms, some with 120% financing, and some with 84 month pay periods. Also, the required deposit to order is $2500, not $5000.

galangg · Aug 17, 2014

$2500 down as deposit. The rest at delivery; either financing or cash (check, etc). In other words, just like any other car purchase at delivery.

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