Happy Ending - Tesla doubled my down payment at the 11th hour to $52,000

[EXPTREVER]

They keep the Tesla advisors in the dark. They typically don't have a clue. I was given misinformation on virtually every question I asked them regarding our Model Y.

That’s been my experience as well. Which is why my point is they have terrible customer service. And if the person selling the vehicles don’t have the right answers then after you get the vehicle it can lead to miscommunications and a bad feeling for buyer.

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[lowtek]

Tesla doubled my down payment at the 11th hour to $52,000.

After waiting for three years with my CyberTruck reservation, and
upgrading to a founder series to move up in line, I’m now scheduled to pick up my foundation series cyber truck in Orlando tomorrow.

Unfortunately, my iphone has been in the shop since last Tuesday so I have not been able to access my Tesla app for 5 days. Just got into the app tonight, and was shocked to find out that my $23,000 down payment has grown to over $52,000.

Enough is enough.

Even though we are already a two Tesla family, and I’m a longtime Tesla stock owner, and supporter of Elon musk as an entrepreneur, I Can’t accept their latest bait and switch.

The way this company is run now has just turned me off. Products are great, but horrible management direction at the top, and worse customer relations.

I’m gonna go tell them they can sell my Cybertruck to the next person in line. and that I’m going to stop in at the local TV news station and share my story.

Has anyone else had a down payment surprise like mine?

FUD.

Post pics or it didn't happen.

 

[jerhenderson]

Welcome to their bait-and-switch.

My bait was $11,000 downpayment with 6.45% interest rate with my 813 to 830 credit score. I accepted and they confirmed.

When I got my CT ready, it became $30,000 downpayment with interest rate of 7.5%.

I was so pissed off I ended up paying cash.

I know it's 3rd party but Tesla should be able to police their partners and they get rebates from the financing.

But then Elon is too busy on something else.

It might not be too late to approach credit unions although I find them too bureaucratic in credit review process. I have high income with proof from my stock broker but which is not hitting my tax returns yet as I only withdraw the minimum of what I need. But their report came back that "my income is below... payables". Logic escapes them that I am meeting and paying my obligations promptly and that is why I have an outstanding credit score.

Hahaha no. That's not bait and switch. The bit about Tesla and financing and rebates was funny tho. And if you think Elon is personally involved with individual vehicle sales, I have nothing for you.

 

[jerhenderson]

FUD.

Post pics or it didn't happen.

'Phone in the shop'

 

[CyberTruckeeTheOne]

Hahaha no. That's not bait and switch. The bit about Tesla and financing and rebates was funny tho. And if you think Elon is personally involved with individual vehicle sales, I have nothing for you.

And in the world of Elon Fan Boiz, he is a CEO, but he is not responsible for anything but just those good stuff and compliments that will feed his narcissistic ego and his pocketbook.

Share a trophy with another fan boi for reading minds when something not in the post. Have I said that Musk is responsible for individual sales? But I bet he has a hand in selecting Well Fargo as Tesla's main financing arm who coincidentally gives one of the highest kickbacks -- incidentally too, have the higher rates among banks. Lowest reputations too where Elon must be trying to catch up.

 

[TheDrivenGarage]

That's annoying that happened to you. You should have gotten emails as the finance offer changed. You can also ask Tesla to find you a better Dela and they will shop you to another lender. I am not sure how they decide but they go one back at a time, or at least did for me. Message them in the app and tell them you don't want to put that much down and to find you a better deal. When close to pickup, the finance team will prioritize you.

Regardless it's annoying and frustrating it's happened to you, but definitely something up with the bank. Is this your first car at this loan level?

 

[jerhenderson]

And in the world of Elon Fan Boiz, he is a CEO, but he is not responsible for anything but just those good stuff and compliments that will feed his narcissistic ego and his pocketbook.

Share a trophy with another fan boi for reading minds when something not in the post. Have I said that Musk is responsible for individual sales? But I bet he has a hand in selecting Well Fargo as Tesla's main financing arm who coincidentally gives one of the highest kickbacks -- incidentally too, have the higher rates among banks. Lowest reputations too where Elon must be trying to catch up.

Have you worked retail ?

 

[ModelC]

Tesla doubled my down payment at the 11th hour to $52,000.

After waiting for three years with my CyberTruck reservation, and
upgrading to a founder series to move up in line, I’m now scheduled to pick up my foundation series cyber truck in Orlando tomorrow.

Unfortunately, my iphone has been in the shop since last Tuesday so I have not been able to access my Tesla app for 5 days. Just got into the app tonight, and was shocked to find out that my $23,000 down payment has grown to over $52,000.

Enough is enough.

Even though we are already a two Tesla family, and I’m a longtime Tesla stock owner, and supporter of Elon musk as an entrepreneur, I Can’t accept their latest bait and switch.

The way this company is run now has just turned me off. Products are great, but horrible management direction at the top, and worse customer relations.

I’m gonna go tell them they can sell my Cybertruck to the next person in line. and that I’m going to stop in at the local TV news station and share my story.

Has anyone else had a down payment surprise like mine?

Is this the guy who used to always tell on my for using his red crayon in kindergarten? Good night.

Clearly the whole story will be reported on the local news shortly but my guess is said entrepreneur didn’t have enough money and the bank adjusted the loan OR, this just happened to my friend upgrade from a rear wheel Y to a dual motor Y and guess what they did with the difference? That’s right kids added it to what is owed because the loan was already approved by the bank for a specific amount.

My friend went back to Tesla and asked to resubmit the loan. My guess is there was a change from the dual motor to the truck motor, about $23k more with taxes and the bank that approved a loan for $100k, Tesla can’t just throw in the additional $23k. The bank would have to re-run numbers. Any successful entrepreneur would understand this.

I am sure any true news coverage team will get to the bottom of travesty. I for one am going to head to Costco today and buy up all the popcorn and tune in. If you can help me by telling me which channel to tune into it would help so I don’t have to keep flipping.

Thanks

 

[JoeBeach]

I received my email saying they were ready for me to order my Cybertruck and the attached is what they had on the page for the AWD dual motor Foundation model. The total for cash is $102,135 and mention 5% down with a rate that I am sure will change by time of delivery. What isnt mentioned is the state taxes and fees which might be considerable. What is Lifetime Premium connectivity?

 

[Stuck4ger]

I received my email saying they were ready for me to order my Cybertruck and the attached is what they had on the page for the AWD dual motor Foundation model. The total for cash is $102,135 and mention 5% down with a rate that I am sure will change by time of delivery. What isnt mentioned is the state taxes and fees which might be considerable. What is Lifetime Premium connectivity?

It’s traffic and optimized routing for it on the navigation display, and internet access for you for you to enjoy Netflix, Youtube, and the like, for life (as opposed to having to pay $10/month).

 

[lakewood305]

Tesla told me only 1000 FS when they emailed me. You were not part of the first trucks so you don't know what you're talking about. I saved all the documentation. Secondly, they didn't tell me FSD wasn't available on the truck until I was literally at the dealership picking up the truck. Like I said earlier, I like the product and am ok waiting, but that is a classic bait and switch. I didn't sign the order agreement until I was there. There is a discrepancy between what their email invitation said back then, and the final order agreement. The email was used to lure you in and spend the extra, and the order agreement was used last minute to change the deal. Bait and switch.

Just did the same thing to me. Told them through text I wanted to switch the order to different car tired of waiting. Next Day My Vin magically pops up. Then I get a Change order request to approve listing a half dozen or so things that wont be there when delivered. Why do I want to pay for FSD and a ton other things when it dosent even do basic autosteer or any advanced features. All disabled at delivery. I told them i am not taking it that way. Waiting for a reply. THey had sent me a message if I didn't schedule deliver they would. We have had these cars since 2017 and love them but it gets worse every purchase. IT is bait and switch. If I know all these things were not working you think I would order a 120K vehicle that has same features as 80K version. This is ridiculous. I would think if we did this with our customers sell them something and at delivery say sorry 20k of its missing but you have to pay for it all. Get it to you some time in the future.
Paid for FSD on first car never made it work before we sold it. What a waste.
Does work great on current S. Sure pisses you off.

 

[Facedown]

@lakewood305 Is this post sarcasm? I’m seriously asking because it is almost impossible to be buying a foundation series and not know about the things missing at delivery.

 

[rbalkun]

I think it’s funny people keep reapplying for financing without even having a VIN, causing another hard pull every 1-2 months, and not think your offer is going to get worse. The bank algorithms see you doing frequent applications think you are desperately trying to find credit then you apply for another significant loan with them, you are seen as a greater risk with every subsequent financing application. Don’t apply for financing until you at least have a VIN if not a delivery date.
Also people are complaining about things not being immediately available when you pick up the truck? You guys have been members of this forum for a decent amount of time so either you are trying to troll people or just oblivious, serious about waiting several years for a vehicle and having no idea that FSD is immediately available?
The only people who are going to get the best rates are the people with no credit pulls, a low debt to income ratio after adding your car loan payment, and high credit scores, if you don’t have those three, your offers aren’t going to be the best one stated on the website or app. (Monthly payment should not be more than 10-15% of your monthly income, obviously the lower the better.)

 

[jerhenderson]

There were many articles saying 1000 FS but the articles weren’t from Tesla so you’re correct. So I texted my sales advisor for the Cybertruck asking about it and they said that was correct to the best of their knowledge.

I’m aware this isn’t legally binding and they didn’t fully commit. But I also spoke with someone on the phone who said that was the plan. All leading me to believe I was getting a limited series. But the wording obviously leaves wiggle room for them and I’m not debating that. I’m also not debating the order agreement doesn’t address the FSD being at a later time. I’m saying their sales practices are misleading and the customer service since then is terrible.
Also the email clearly states PowerShare hardware is included. It doesn’t state only if I pay an installer. No point in proving my experience to you all. I’m a huge Elon fan and Tesla fan. I’ve owned every model (except roadster) and driven them since the beginning. Been a long time shareholder and follow Tesla closely (not watching YouTube as previously suggested). But I can admit the way they have treated their loyal customers is not great (in my experience).

Yeah that text screen shot must be legit. Lol

 

[CyberTruckeeTheOne]

I think it’s funny people keep reapplying for financing without even having a VIN, causing another hard pull every 1-2 months, and not think your offer is going to get worse. The bank algorithms see you doing frequent applications think you are desperately trying to find credit then you apply for another significant loan with them, you are seen as a greater risk with every subsequent financing application. Don’t apply for financing until you at least have a VIN if not a delivery date.
Also people are complaining about things not being immediately available when you pick up the truck? You guys have been members of this forum for a decent amount of time so either you are trying to troll people or just oblivious, serious about waiting several years for a vehicle and having no idea that FSD is immediately available?
The only people who are going to get the best rates are the people with no credit pulls, a low debt to income ratio after adding your car loan payment, and high credit scores, if you don’t have those three, your offers aren’t going to be the best one stated on the website or app. (Monthly payment should not be more than 10-15% of your monthly income, obviously the lower the better.)

Tesla's financing partners will make a hard pull on credit score even without asking their consent.

I don't think Tesla respect their customers by not reigning them specially with their bait-and-switch.

Decades in corporate finance and never seen this kind of unethical practice.

I maintained excellent credit score and they did this to me and in the end it caused it to drop.

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