Tesla Financial Services - Worst finance company ever?

[kitkat9933]

Tldr: TFS won’t take my money and just don’t respond in over 6 months…

Warning Essay incoming…

So I purchased my current MYP in Jan 2023 on PCP via Tesla Financial Services (TFS). The next day after collection, they carried out their massive price drops and APR drops so I told them I’ll return in my 14 day window or preferably for me, refinance the car I received. They agreed to refinance the car over the phone and via writing, great I thought.

For the first 14 days inbetween, I got people from Tesla trying to arrange collection for the car and forgetting the agreement made and I kept referring them back. After 14 days they forgot the agreement and said I’m stuck with the car is. After 6 weeks from the original agreement and chasing multiple times, I got the new updated paperwork, signed and thought all sorted. Unfortunately not…

Since signing the new paperwork they refunded me my first two monthly payments (but not the deposit). They also never took any subsequent monthly payments and still haven’t… (18 months worth). At first I just gave them some time to sort it but after a while I thought it may cause issues to my credit history etc so started to chase. After around 6 months chasing, they finally got back to me saying there was an issue with their billing system and they admitted fault and it would not impact my credit history etc … (all in writing)

So I stopped chasing and left it to them.

Due to all these issues, I have no settlement figure in my app or on my online account etc.

In Jan 2024, I was going to get a Lotus Eletre R and asked for a settlement figure. They responded within a day or so telling me to go the app or website to get the details. I instantly responded saying they did not read my first email as I don’t have that as an option..

lotus then raised their Apr rates massively so I didn’t want to continue anyway… but then in April 2024, Tesla finance responded with a settlement figure that did not align with either finance agreement I signed. They did to be fair to them say they would waive the interest payment.

I responded again instantly querying the figures and providing mine, and asking them to work this through with me ASAP.

Since April, I have chased and chased and chased no response.. every mailbox and their voicemail number (they have no direct line) but no response just we will get back to you in 10 days. I even contacted other Tesla addresses and numbers and they said they would push them and get them to call me back all which never materialised…

I raised this with the financial ombudsman back in April and they have a massive backlog so will take ages to make progress in that front. I have also this week taken on a solicitor to move things forward now as I am stuck with a car that I cannot get rid of that I do not want.

I’m at my wits end with this and have run out of options except to go through this slow legal route…

It’s more annoying as I have a Lotus Eletre R on standby next week that I want to collect but I’d rather get rid of the Tesla first.. most likely I’ll have to pick up and then claim damages from Tesla later…

I know this is mostly a rant but I’ve never heard of any company, especially a finance one that requires me to right them to pay them money ffs…. If anyone has any other ideas I’m all open..

I love the cars but the customer experience (except the no hard sell sales part) is just abysmal and has put me off the brand for life after 4 Tesla’s now. At least with dealers they have no product to sell so need to at least attempt customer service to keep my custom…

 

[Spleen Sauce]

I know this doesn't help but this absolutely does not surprise me unfortunately. The Model Y I bought from a 3rd party dealer still had the HPI finance flag tagged against it even though the dealer showed they'd cleared the finance well over a month before. Eventually got that sorted after countless emails to TFS. I'm still waiting on my deposit refund for a car I originally tried to buy from Tesla but they mis-advertised so agreed to cancel and refund. They are abysmal... which is a shame because all of the other customer service I've received has actually been quite good.

 

[b0rn2sk8]

One thing I’ve learned about Tesla is that if your correspondence fits within their existing process they are very easy to talk with and most of it’s automated.

If computer says no, it’s an absolute nightmare, that’s both the finance side and the warranty side. Their whole system is set up so that you don’t have to speak to anyone but if you do need to speak to someone it’s a proper pain and they hide behind their very ridged processes/policies.

When I sold my model 3 with finance outstanding to a dealer, I got a settlement quote via the app.

I sent the PDF to the dealer, the dealer transferred the money and it was showing on my Tesla account within 20 mins, I handed the keys to the collection agent and off he went. I had the formal closure notice from Tesla within an hour and I could then delete the car off my account. I guess that’s how it should work if they fixed the finance issue at the start.

I can absolutely see why you have a problem

 

[jpaul]

so 12 months on not having any money taken before you contacted them - I think I'd have sent a registered letter at the least to make them aware of that a bit earlier ,
I suppose subsequent acknowledgment of emails gives some legal coverage.

 

[kitkat9933]

so 12 months on not having any money taken before you contacted them - I think I'd have sent a registered letter at the least to make them aware of that a bit earlier ,
I suppose subsequent acknowledgment of emails gives some legal coverage.

No I made them aware multiple times but gave up after last summer after they acknowledged it was their issue.

12 months is just when I asked for the settlement figure.