Cash - check - charge card - bank financing? Also, does Tesla finance the Model S?
Check. Hopefully they let me charge some of it to get cash back on my chase card. Usually the limit is like 10k for credit.
Some cash and a credit union loan. Will pay the loan with the "required minimum distribution" from my IRA.
@Michael23, when I was called upon to cover the additional $35k to upgrade from P to S the end of June, I covered the addition with a ~$4,900 credit card payment (which was Tesla Motor's imposed limit) and a Cashiers Check for the balance of the ~$30,100.
I have a Navy Federal Credit Union blank check approved up to $60k for the balance that expires in September (looks like I will have to request an extension). Hoping I see my Model S (Sig. 1,186) in October as stated in my TM contract but no day given. That's a 1.8% and 60 month term so I hope to flex my consulting muscle a bit for the next 5 years at least. :D
Funny how you can charge more in credit for furniture than allowed for a car, I'd love to get the miles or cash back for over 100k!
I was thinking the same when I charged it to my CC. I'll ask again if I can charge it to their max when it comes time to cover the balance. Charging it also gives you a couple more weeks to pay off the balance and exercise all that cash in the mean time.
Credit cards cost Tesla money, cash doesn't. Why would they eat into their margin given what Amex/Visa/MC charge their merchants?
Cash, but I would consider selling my Delorean if anyone is interested.
Speaking of credit cards, there's a new player: Dwolla. Direct transfers at 25¢ each.
I saw a sports car on the road today with the license plate: "CR401K". So that's one way to pay for a car.
My BMW is paid off in November. At P#3820, I am anticipating a late December delivery. $5k is paid. $7,500 back after taxes paid. About $25k for a 335i convertible w/ about 60k miles in very good condition (ballpark number) in trade. A decent rate on a bank loan will make my monthly car payment increase by only $20 per month on a 5 year loan.
@bfudge, how about making that Delorean more fun and Eco-friendly? :)
How about this Delorean? Roads??? Where this guy is going, he doesn't need roads!
@Brian, I used Dwolla a while back. At that time, the $.25 transfer price is for only Dwolla-to-Dwolla transfers. Not sure what the price is for bank-to-bank or Dwolla-to-bank transfers.
It's not available in Canada yet, so I haven't dived into the detail, but I think both parties need to be in the system, so the transfers into and out of Dwolla accounts aren't something I recall much about at the moment. Something recently about a $3 monthly option for instant payment, though.
According to what I've read online a merchant is obligated to accept any charge amount, it's in their aggreement with Visa; I dont think they dont get to choose.
I have the cash saved and sitting in my checking account. My credit limit is $55K, so $550 cash back isn't too bad. If I asked the bank I'm pretty sure they would up it to cover the whole thing. Most car merchants say they wont accept a CC but when the merchant agreement is in front of them they usually have to aggree.
Maybe Tesla will just pay me the 1% cash back and I'll use my debit card; I could be wrong but I don't think they have much choice otherwise. I guess they could move my delivery date from this Dec as a punishment :-(
Just a thought... anyone from the company care to comment ?
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