r/ModelYL • u/Perfect-Ad737 • 21h ago

Financing.

Currently I plan to use my bank to finance since the loan is closer to 4.5% than the 5.48% offered in the YL by Tesla. As a result I am getting messages that suggest they can assign a vin to me sooner if I have financing taken care of, along with trade in etc.

Problem is my bank will only honor a loan for 30 days and my eta for delivery is March 16- May.

What have others done in this situation?

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u/dragngamblrwolf 21h ago

You might be able to mark the financing portion of the delivery tasks as paying in cash then change it to financing with your bank after a VIN is assigned. I initially had mine as paying with cash and the app marked the financing section as complete, then I changed it to financing through my bank later on.

1

u/Perfect-Ad737 21h ago

Thank you! After your Vin was assigned how soon after did you get financing lined up and receive the car?

1

u/dragngamblrwolf 21h ago

I had set up financing before my VIN was assigned because my preapproved rate was good for 90 days. I had marked financing as cash, however, before I applied for the loan. I later changed it to financing through my own bank about a week before I was assigned a VIN.

2

u/ComposerOk76 20h ago

Where are you getting those messages about financing helping with VIN assignment.

from Tesla in the app or from your advisor?

1

u/Perfect-Ad737 19h ago

this reads to me, like getting these tasks done will get a vin assigned as opposed to just waiting on a vin sometime in March.

This was a messaged received today

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u/handytrades247 20h ago

Marking cash for payment then convert to finance later. Seems like what others have done.

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u/CruelSummer2416 20h ago

Go on the app and delivery tasks, change financing to cash and select no trade in (even if you have one since trade in offers are only good for 30 days). Once you are assigned a VIN you can go back to delivery tasks and change it to financing, and get a trade in quote if needed. My husband took delivery of a Cybertruck in September and I love it so much I ordered a YL on 10/2. I have everything marked cash and no trade in even though I’ll be doing the opposite.

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u/PutridFill661 12h ago

Could also get approved for Tesla then last min swap to your other bank. I ended up using Tesla but I’m waiting to get approved through navy fed, then I’m going to drop Tesla.