Make sure to check your APR. changed from 0.99 right before the pick up

My delivery date is tomorrow, and I did accept the 0.99% APR. Then step 8 out of 9 said to review my agreement, and guess what I found out — the APR had suddenly changed to 2.99%. I contacted them, but make sure you guys check your APR before your delivery. They might have sneakily changed the APR without telling you, even after you accepted a lower rate.

Nothing else changed right? Not even the monthly payment?

Have they responded and fixed it? Or given you a reason for the change?

Do they guarantee that they can change the APR on their end?

APR changed and the monthly payment changed accordingly. It was like $80 cheaper when I first accepted 0.99

I am still waiting them to get back to me. I have no idea if this was a mistake from the delivery team at my local tesla.

Was it because they did the credit check and you didn’t qualify?

I did qualify. They did a credit check and offered me one with 0.99 and one with 2.99. Of course I accepted 0.99 and was able to move on to the next step.

It's because you're not putting down enough. Increase your down-payment until it shows .99%. Likely because of taxes and registration fees. Think of it like this: They won't let you finance as much as you want at .99%. Read the fine print.

Did your taxes and fees go up? That happened to me and I had to adjust my payment a little to cover it

The down payment they wanted was $7,000, and I was able to get the 0.99 APR; however, the down payment went up even more after taxes. I really don't know what is going on. I really have no problem putting more money down but I don't even have that option now.

The down payment they wanted was $7,000, and I was able to get the 0.99 APR; however, the down payment went up even more after taxes. I really don't know what is going on.

You may have qualified but that is usually due to having a certain level of credit score, even if your credit score is good or very good, the 0.99% is usually given to people with “excellent” credit.

I have 800+ score so not sure how much more excellent I have to be

If that’s true, then it’s there’s a loss in communication somewhere, hopefully it gets resolved.

Mine did this when they assigned me a different vin my advisor fixed it but had to put a ticket in.

just checked the vin and the vin stays the same. Hope the advisor can fix this soon as I really want to pick up the vehicle tomorrow.

it didn't change your credit sucks

Just keep messaging them. They fixed it for me last week. Do not pick up the vehicle until it’s fixed

Taxes, unless you rolling them into your loan are on top of your down payment. If you elect not to roll the taxes and fees into the loan… you pay down payment plus taxes and fees.

If OP was approved initially, credit is probably good.

Yeah that’s not right. I paid less than $4k to get the 0.99% (actually approved for 3.99% then they reduced before delivery).

Everyone has different fees. I paid close to 10% tax on top of registration costs. I put down around 9 or 10k, if I recall, to get the .99%. If my state had no sales tax, I would have put down around 5k less

Taxes are no fun, that's what's going on.

It's sometimes a common issue that happens. Most people message Tesla and they end up fixing it. Hopefully it's the same case for you.

Was it for 72 months or 60?

The down I paid is for taxes and fees, so basically zero down. I was really surprised how nice it is to deal with Tesla. Hassle free and no haggling.

I looked today, 0% for 60 mos. 72 month is is a higher payment at 6%

This happened to me when I ordered mine where it “jumped” to a higher rate right before delivery. I went to the Tesla store and mentioned it to them that I had been approved for 1.99% (this was last year hence the rate), but the only option I could accept was 3.99% or something similar but higher. They honored the 1.99% once they checked it on their end and enabled that offer right there and only after that I accepted it.

Ya always choose the option to include Fees and taxes. And try to prequalify first with those numbers otherwise if the down payment is off it’ll put u at the higher interest.

Usually 60-72 months the same rate. It’s if u want to go longer than 72 that it changes.

Wow, thanks for the heads up. My pickup is tomorrow so I just checked all the documents available in the app and fortunately all of them still show .99%.

That happened to me as well, but when they were doing the 2.99% deal (I think that's what it was)...got to final step and it was up to 4.99%. I contacted them and they changed it back.

that's awesome. this is my 3rd tesla and never happened once. Glad that you didn't have to go through this.

Op, did they honour 0.99% or is it still 2.99% keep us posted please

This happened to me too. I had them open a case and they were able to fix it.

Could be a few things. #1) APR is locked in for 30-60 days typically (at least here in Canada) depending on which of Tesla’s 3 Bank Partners approve you. If the bank approval expired by the time the car arrived and you had to reapply for the financing, it will default to the more recent rate unless Tesla escalates this for you afterwards. #2) You may have changed your term length. For example we recently had a promotion where you could get 0.99% APR on finance terms of 60 months or less, however if you went up to a 96 months that would be at a 2.99% APR.

Mine jumped from 0 to 6.9 on changing of the car!

People don't read the fine print.🤦‍♂️

This happened to me the other day. They fixed it.

It happened to me!

Same thing happened to me. My APR jumped from 0.99% to 2.99% after I submitted my application. I did not change the down payment amount or term length. My credit score was excellent. Still they gave me 2.99% rate. I contacted them, they told me that they submitted a request to their finance team to see if any lender is able to approve at promotional rate. Few hours later, I received another offer from different lender with 0.99% APR. Try reaching out to them.

I’m not exactly sure who was contacted but when we applied for the 0% APR, they gave us a few options for the lenders, all showed 0% APR. Went to accept later that day and they raised it to .99 but my husband had the 0% offered and we didn’t have to raise our down payment, which was 6655.

0% is offer for the base/non-Premium. Premium offer is 0.9%

So basically this morning, they adjusted the APR to 0.99% and had no problem with the pickup process. Not to mention there was a ding in the trunk, so we didn't accept the delivery. It sucks to suck.

What ended up happening? Tesla is playing games with these financial offers. We're also waiting for a response before proceeding.

They adjusted before the delivery. However I didn’t take the delivery because there was a small dent.

I'll have to look out for that, too. Thanks.