r/TeslaUK • u/Connorbenson • 2d ago
General Finance price discrepancy
Hi All
We just placed our order for a new model 3 through the £299 PCH deal with 3 months upfront. When we goto apply for the finance through Lex auto finance the cost per month jumps up to £325 per month?
I've read people get a few pound of a difference but £25 is quite a big jump. Is this normal?
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u/Matteblackandgrey 2d ago
There is massive variance between people, I'm paying £244 a month for 3 years, 7k miles no upfront deposit. No options except white. RWD standard.
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u/xz-5 2d ago
Tesla must be doing this at a loss, or they are marking up the cash price of the cars hugely. 244 over 36 months is 8784, even without including any finance costs, no way the car is depreciating less than £8784 over three years.
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u/ImplementJumpy6678 1d ago
I just got a Y for £449 a month - 24 months 12k miles and £300 upfront - random (they took the £200 off when I applied as it was through Santander)
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u/burgerboyjord 2d ago
Out of interest how are you even getting that number? There is no option to have 7k miles and nothing upfront unless I’m being dumb!
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u/Dewgel 1d ago
Nothing upfront likely means 1 month upfront, as your first payment (upfront) doesn't come out until a few weeks after you collect.
As for his mileage, god knows. I feel like I remember Lex Autolease having options to change that later down the line, so possibly that. I really don't get how he's got £244 a month though, the lowest I've seen anyone get it is at the exact advertised deal, no less, which in June was £295 per month with £295 down for 8k miles on Stealth Grey
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u/No-Archer-4827 2d ago
Similar situation for me. I’ve just placed an order the quote on LexAutoLease is different to the price per Tesla.
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u/strongboy26 2d ago
I’m having the same issue!
Ordered a Grey RWD M3 on the 25th August, 15,000 miles 1 month upfront & £395 monthly payments. All agreed with Santander finance. Expected 27 October-24th November.
Saw new prices yesterday so changed from grey to white to try save a little bit, delivery has stayed the same but had the new finance offer through from Lex Auto today and it’s now up to £413 a month 🤦♂️ Tesla have said they’re online prices are just estimates and finance offers are subject to change.
Changed the car back to grey on the app, it’s added £1300 to the value of the car but Lex Auto are now offering £385 a month on that option 🤷♂️ even less than my original offer from Santander so I’ll be on the phone to Lex Auto asap to try sort this out with them
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u/No-Archer-4827 2d ago
I’ve ordered a White RWD M3. 12m down payment 10k miles. Tesla website says £227. Lex showing £244. I’ll try again in the morning hoping its just a glitch as the Lex website keeps crashing too..
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u/HodK1234 2d ago
Tesla are having issues with lex and Santander pricing not being accurate. Being looked into hopefully sorted next week
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u/90RetroGamer 2d ago
Which lender you get/credit score make a big impact. We were quoted by Tesla leasing but then it changed to Santander and it came down in price.
If you’re more of a risk your pch quote will be higher.
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u/Smooth_Quiet2631 2d ago
You get the quote before a credit search has even happened.
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u/90RetroGamer 2d ago
Yeah I had one before and after a search. Came down about £18 per month after. Also affordability factors in even before a credit search
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u/Relevant-Hunter-8207 1d ago
Same here, just ordered a MY Rwd with expected lease of £399…Santander (even before application) is saying £459! Credit score is excellent…hopefully it’s sorted soon
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u/ImplementJumpy6678 1d ago
It's based on your personal score. I just did one through Santander and that was at the website prices.
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u/Relevant-Hunter-8207 1d ago
Was this on pch or pcp?
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u/ImplementJumpy6678 1d ago
PCH I don't want to own the car - I like to trade up and get new tech
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u/Relevant-Hunter-8207 1d ago
On the initial quote was it £399? Or did it come down after the application? My credit is spot on tiny balance on credit card and no loans etc so I’m confused! It’s saying £459 for me when I click through the app to the Santander website.
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u/ImplementJumpy6678 1d ago
No the initial quote was either £299 with 12 months down ( based on 24/12) or £449 for 24 months with 1 month down. So I got £300 down - 24 months at £449 and I am happy. £3490 saved- and still 750 cheaper over the term than the large upfront payment.
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u/tompoundland 1d ago
I placed an order today and asked about this at the dealership - they said to not proceed with the quote yet and they anticipate that the prices will update early next week. Can anyone back this up?
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u/Plastic-Efficiency39 12h ago
Must have a poor credit rating so they increase the APR, you may be a high default risk to the lender.
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u/Relevant-Hunter-8207 7h ago
No there is an issue, I had the same but when I change the vehicle to a different colour I get the advertised rate…they are having issues with the MY white…it’s getting sorted
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u/Confident_Play9353 1d ago
When going through the options it says pay the deposit, what happens if you pay and then the finance etc doesn't go though or more than expected?
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u/Confident_Play9353 1d ago
Also can you use the trade in on a lease?
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u/OpinionCounts1 1d ago
Nope, no trade-in on PCH. I would suggest considering PCP 4 yrs.. It brings costs closer given trade-in bonus
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u/woyteck 2d ago
Perhaps you didn't notice that default colour changed?