topic Re: When does a sale get registered? in Auto Loans

When does a sale get registered?

Revelate — Tue, 07 Aug 2018 02:18:59 GMT

This isn't quite credit related but couldn't find the answer on Google and figured someone might know here.

When is a sale actually complete, to where a dealer or manufacturer can claim it as sold for their data?

1) When driven off the lot

2) When the check clears

3) When the title transfers

Or some other thing; I know that I can drive a car off the lot without financing being locked dow:, has happened to me personally and we've seen stories over the years of where people had to return cars a few days later because their financing fell through.

As for how I went down this rabbit hole, of course since I'm on the journey to buy a Tesla, and I was looking at sales data, came up with this question and couldn't figure it out via the almighty search engine (clearly my terms sucked).

Thanks!

Re: When does a sale get registered?

-Cal- — Tue, 07 Aug 2018 02:20:44 GMT

I believe Tesla considers it sold when delivery is complete. Are you inquiring because of the tax credit? Which model are you buying?

Re: When does a sale get registered?

Revelate — Tue, 07 Aug 2018 10:18:54 GMT

@-Cal- wrote:
I believe Tesla considers it sold when delivery is complete. Are you inquiring because of the tax credit? Which model are you buying?

Actually this was more looking at Tesla's reported numbers for sales in July. Near as I can tell they have a lot of cars between manufacturing and delivery right now and then you get oddities like Texas where they have to pay for it before they can even ship it apparently. Tax credit I think I can claim as soon as I drive it off the lot after paying for it with their sales model; don't think I have to wait for the title to transfer unlike the Cali state one.

Getting a Model 3, but with my expected "commute" the next 2-3 years (LA to SF on a regular basis on an all inclusive rate, i.e. no expenses), upgraded to the base Performance for the free supercharging as it's going to be darned near close to breakeven after 2.5 years if I throw in the cost of trying to get a charger installed in my condo's parking structure.

By far the most expensive car I've ever purchased even considering inflation but since the kids thing doesn't appear it's going to happen, well, mid-life crisis indeed haha.

Re: When does a sale get registered?

Loquat — Wed, 08 Aug 2018 02:05:07 GMT

@Revelate wrote:
This isn't quite credit related but couldn't find the answer on Google and figured someone might know here.

When is a sale actually complete, to where a dealer or manufacturer can claim it as sold for their data?

1) When driven off the lot
2) When the check clears
3) When the title transfers

Or some other thing; I know that I can drive a car off the lot without financing being locked dow:, has happened to me personally and we've seen stories over the years of where people had to return cars a few days later because their financing fell through.

As for how I went down this rabbit hole, of course since I'm on the journey to buy a Tesla, and I was looking at sales data, came up with this question and couldn't figure it out via the almighty search engine (clearly my terms sucked).

Thanks!

@Revelate When I was spinning paper in the box the day you took delivery was the day used for reporting purposes. Financing really had no bearing on what date I reported. Even if I had to switch lenders the date on the title app would not change; the date reported would still be the day you took the car home.

Re: When does a sale get registered?

Revelate — Wed, 08 Aug 2018 02:22:14 GMT

Excellent thanks Loquat!