Forums

Financing question

Financing question

Hey everyone! Quick question about how financing works (first car that I'm buying!)

So I'm likely just going to be getting the base model plus a color (Midnight Silver is just too good to pass up). So $36,000 + $1k D&D.

Now, following the config "leak," I see that when I confirm I penny up an additinal $2,500 on top of my $1,000 from last year. These come off the total cost of the car, so I need to finance the remaining $32,500. I should have at least $20,000 saved at that point, so do I need to search to find the financing for $12,500, or the full $32,500?

bhuggins | 30 July, 2017

The 2,500 is a deposit for ordering the car. It is because Tesla is making the car for you per your specifications and if you cancel after that they still have to somehow sell that car to someone.

In your example you currently have paid 1K for reservation. You would pay 2.5K for the deposit so taht would leave you with 33,500 plus tax, title (your 1k pays for delivery)

Bighorn | 30 July, 2017

You just need loan approval for the amount your need to finance.

Bighorn | 30 July, 2017

your/you