Tesla No Longer Accept Credit Card A Part Of Down Payment

Bought my 2024 and they didn’t accept credit cards back then

How the heck are you supposed to pay then? Briefcase full of cash?

Bank account? I mean, who buys a car and doesn't have a back account lol

I just went through this. I was not cool with using their third party app, “Plaid”, so I asked if they accept any other form of payment. They allow a Cashiers Check in person.

Bank account ACH. Tesla always allow bank account ACH for payments, and particularly the final payment when they don't allow credit card. Or you can wire in.

Yeah I swear even back in 2020 if not earlier they weren't routinely taking credit cards for down payments. I googled and found one-off situations where people did get to use them but they were few and far between

They never accepted credit cards for down payments

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Tesla hasn’t accepted credit cards for down payments for years. They only did for a small portions during an end of quarter. Credit cards have fees so not reasonable to take millions of dollars of credit card payments. Also changes were made due to fraud. One reason they only accept Cashier’s Checks and Linked bank accounts via PLAID now was all due to fraud.

Yes there were one of cases and this was before COVID.

Good for you. Plaid wants access to all your bank transactions forever in exchange for simplifying a single payment. They are a total scam.

Could only imagine that credit card fee. It’s why Tesla probably doesn’t allow it

When I bought my first Model 3 in 2019, the order fee / down payment was $2500 and was paid by credit card.

they did, but it was really for last day of the quarter type of situation where you couldn't get a certified bank check.

People and banks should get rid of credit cards altogether. It's just a way to keep people in debt forever, rather than encouraging them to save for the future. Instead people think "Oooh, 'credit'! That's a nicer word than 'debit'!", when really the two terms should be swapped, since one of them you're generally in debt, and the other, you're (almost) never in debt.

Don’t you realize that in America, anybody will have some sort of debts? That’s how economy works. To trigger people to spend by make payment plan even they couldn’t afford it

No, they don't want to pay millions in credit card fees.

Yeah they haven't for a long time.

Two years ago I did it. Not sure why you guys are saying it can’t be done. I have done it at regular dealerships too when I don’t bring a checkbook.

My credit card give me flight perks and free trips for the shit I am gonna buy anyways. It also has better consumer protection.

They absolutely did. I put down my down payment on my 2018 m3 and 2022 my with a card

They still do in EU at least

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Yeah exactly I use my card for the perks but I mentally only use it as a debit card., only spend what I have. Although I know they can offer the perks because the majority of people don't use it that way and that is a little sad as a society.

I've only seen it possible to use a credit card for the initial $250 order fee.

For down payment ?¿? Who has cards that can go to 50k over here? They asked me to wire in funds, granted that was in 2021. The initial deposit of a few thousand euros, sure you could use a payment card.

I don't think they ever did?

I bought my 3 in 2018 and they did then

You can still call in and make the payment with a credit card over the phone.

No that's a lie encouraged by the banks. People should generally not be in debt. Spend what you can afford to spend, and keep the rest for a rainy day.

This is a lie. Credit cards were accepted for well over a decade at Tesla for the minimum down payment. You could do more later via certified cheque or wire teansfer for any additional down payment at delivery. Why do people spread verifiably false information?

Fair enough. I have one too, but I think I've only ever used it to hire a car since they force you to have a credit card in that case.

They should unify the better consumer protection (and maybe other perks) with the debit card and call it a day. It's ridiculous having two different balances when just one should suffice.

I agree with you. I already have good retirement plans from my workplace so not too worry about it.

“The average credit card processing fee, which will be taken out of a merchant’s sales revenue, is in the range of about 1.5 percent to 3.5 percent.” If I put down $20,000 that’s around $300-$700 for each sale in that amount Tesla would have to pay in CC Fees. If they accepted credit cards most smart users would use them as they give perks or points to the user. In short Tesla would have to raise the price of the car to accommodate accepting credit cards.

Why would they? It’s a large cost to them. “The average credit card processing fee, which will be taken out of a merchant’s sales revenue, is in the range of about 1.5 percent to 3.5 percent.” If we put down $20,000 that’s around $300-$700 for each sale Tesla would have to pay in CC Fees. If they accepted credit cards most smart users would use them as they give perks or points to the user. In short Tesla would have to raise the price of the car to accommodate accepting credit cards.

lol i just placed my order a week ago and paid with Apple pay and a credit card.

you guys still use checkbooks?

I don’t bring a debit card with me. I have a checkbook to pay contractors etc.

in Europe, we do wire transfer via mobile app. It’s free, it’s instant and it’s secure. You can also pre-fill all the info via scanning QR code from invoice.

Why don't they just charge a 5% fee like so many of these other companies are now doing? Companies are getting so greedy. I hate giving my bank account information to some company so they can get hacked and then I get "free credit monitoring for three years" while I have to change all of my stuff.

I can do that too. But my contractor is old school. I pay other people that way. But when you are dealing with a 60 year old person you are not gonna change them.

You don't understand money/finances, do you?

If you decide to buy FSD outright, you can put it on your credit card \*after\* purchasing the car. And there's a good chance they won't charge you sales tax on it either, which in some states, would have otherwise been charged to you on the vehicle purchase price.

Each dealership is different. This is Tesla as one company and it’s been many years since it was a default option. Maybe there have been exceptions.

My kids daycare only accepts checks lol. Only reason I still have one.

Never have. Bought mine in '21

I’ve paid 10K on the Toyota dealership before haha. He was like card or transferring? I was like yall take credit card? He is like yeah. I’m like hell yeah haha

Just FYI I have been told some states dont allow purchases of vehicles on credit cards anymore and they tied the dealers hands. In Illinois I can but in Missouri they said now.

I don’t recall them ever accepting credit card

Same

My cashiers check was 28.00 short for some reason than their balance due. They added something and I didnt see it until I was there. They would not take any payments other than a new cashiers check. They let me walk away from a 2022 S. I saw it back online with a 5000.00 price drop. smh this was last may

I used a CC for reservation a few months ago. But I suppose down payment is too much in fees for them.

Funny story, when I bought a model 3 back in 2018 I gave them a check from my credit union for about $40,000. They screwed up the paperwork and ignored the bank trying to get them to fix it for about 6 weeks so the bank canceled the check. Someone from Tesla called about it and, no shitting, asked if I'd rather put the $40k on a credit card over the phone instead of having them get their paperwork sorted out.

For years now

I bought mine in March of 2020, no CC payments were allowed then either. Tesla's banking system went down the day I bought my car and they let me roll out without the full payment and a IOU. We got it fixed up a week later.

Literally 2 years ago (maybe you define it as many?), I used a credit card with Tesla as a downpayment.

Lmao where tf have you been

100% this.

There are ways around this... Use Curve and link it to your credit card... Curve appears as a debit card to merchants

The banks are out feeing everyone and won't ever be happy without record profits year after year. Electronic fee less payments are going to be the norm soon but not soon enough...(debit cards still have fees to the merchants)

I just used my card last week

Isn’t Apple Pay still an option? Or does that count as well

I was going to say, when did they ever accept credit cards.

I can't fathom handing out my bank account info like that. Huge security risk.

How do you pay your mortgage, credit cards, etc?

I mail them a check via my bank.

You can buy gift cards and use them for the down payment.

yeah it was only for small amounts if your wire or cashier's check was a bit short

I bought mine December 2024 and had to link a bank account. Older couple were so pissed because they didn’t know how to link their bank account

Yea probably because 3% of a large transaction goes to the bank as transaction fees for using credit cards

Paid both deposit and 20k down payment on AMEX in Australia.

Saving a bunch of money on transaction fees.

I was able to use my Apple Card for the $250 deposit but always needed a bank account for the down payment.

Odd that that allowed credit cards to begin with.Credit cards are unsecured so in theory you could buy the car and the bank would be on the hook with no collateral if default occurred on the credit card.

Credit cards negotiate higher transfer / transaction rates than regular debit transactions that’s how they pay for everyone’s perks. In case you didn’t know.

Yup. Banks get their money somehow lol

Guess they closed the gift card loophole also.

> not reasonable to take millions of dollars of credit cards payments. Ummm, what? Are you saying every other merchant in the world has the wrong idea? 😲🤣 (Target, Walmart, Best Buy, Amazon enter the chat). LOL

No it’s saying the policy change is they won’t accept gift cards purchased after 7/29

Yeah, was bummed to hear that but thankfully I didn’t buy my gift cards yet

Not in US but my down payment is by credit card.

This is not true — credit cards are accepted, I just checked. It could be that they changed it in some countries only, but the OP didn’t specify where he lives.

I paid with credit card a year ago... and i checked now they still accept it... maybe it is limited in some countries only

You gotta buy the gift cards from the tesla store, then use those to make the down payment. Then you can get cash back.

Too many chargebacks

This isn't a new thing....

Same. Was considering it but it’s limited to $500 max per GC purchase. Wasn’t worth the extra effort for what I needed, but now glad I didn’t try.

The other very large merchants probably have volume agreements and discounts with the networks like visa MC etc. Credit card fees are charged as a % of each transaction. Some “premium” ones go up to like 8% or more (like Amex) so if you’re taking thousands or even tens of thousands per down payment, losing a fixed not insignificant % on every single one adds up real quick, especially when it’s a loss you really do not need to be taking. I’ve worked for a restaurant doing books. CC companies charge merchants out the ass. That’s where I remember the 8% Amex fee from.

Credit cards are only accepted end of quarters on weekends during emergency scenarios. Or prior to 2020 I believe. Otherwise it's not an option. Don't ever count on it

Got mine in 2022 and they didn’t accept it then

MasterCard and Visa are both around 3.5% so yea.. they don't want to only get $2,895 of a $3,000 down payment.

Of course

Nice way to earn cash back… but yeah, don’t recall this being an option when I bought in March 2024

Really? Not good :(

Or even different states? I remember being disappointed about not being able to use it, but i can't remember details.

Depends on volume. I'd guess for Tesla it's around 1% or less. Smaller companies pay bigger fees.

I put $5k down on my Mastercard February 2024

Maybe it’s the banks not wanting to affiliate with Tesla for some reason

I used my cc for a down payment for my M3 in January 2020

So weird. I bought and used gift card credits after that date for my Tesla.

cash back credit card and putting a down payment is a life hack LOL

I paid $5k downpayment with my credit card last June for my 24 X.

Had a 2022 MY LR, which I sold and they didn't accept it back then either. Maybe geography and user dependent?

Ride that conspiracy train brotha

Been like this for a while now

I only ever remember them taking CC for order fee and thats going back to around 2016.

I used plaid when we bought our model 3 in 2020 and my cybertruck in 24

Unless there are exclusive agreements, like Costco or Walmart it is unlikely 1% or less on Visa Infinite or Visa Signature since banks payout 2+%.

I’m an ally of the mushroom people and they kicked me off for not getting high with them :(

this! and be sure to use a card that earns points to maximize your bennies!

Bought mine in 2023 Sept, no CC option back then.

In Australia, they charge 1.65% for Amex card.

Serious bummer.

It's generally an ACH transfer of some sort from a bank account.

I paid 8k on my debit card on my 25 3 months ago. Im assuming debit is still allowed

Most car dealers will take credit cards for buying a car. They don't want to eat the 3% fee they need to pay to the credit card company.

Can u get a wire from Amex plat to get points for Tesla down payment

Work around for Amex plat down payment on Tesla

were you able to get it to work? looking to do a SUB for amex plat.