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do Canadians pay Tesla in USD or CDN

Discussion in 'Model 3 Reveal' started by Kevins_model_3, Jul 25, 2017.

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  1. Kevins_model_3

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    I was just wondering now that the CDN dollar is at 80 cents US, if we pay for our Model 3 in USD or CDN to Tesla. Another question being do we have a choice in which currency we pay? If it is CDN $, I assume they will make a few extra $ on the conversion rate they set.

    Thoughts anyone.
     
  2. Todd Harrison

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    Definitely pay in Canadian, I think Trevor mentioned they reset prices quarterly to reflect current exchange rates? Here is hoping for another interest rate hike before January! Although cost of borrowing will offset the exchange rate partially. Trevor has also mentioned that model 3 should avoid a roughly 6% tarrif due to it's battery being made in the USA bringing the north American content level above a certain threshold.
     
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    • Luis Estrada

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      I think there's is no other way for me to pay than with CAD. I'm really curious about how Tesla is going to deal with the financing here in Canada, specially in Quebec (if there's any).
       
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      • TrevP

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        Tesla has financing in Canada and in Quebec. Just visit the Model S configurator and you'll see financing options on the right side. Model 3 won't be any different.

        However shop around, there might be better deals than what Tesla offers (line of credit, Credit unions etc...)
         
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        • Sandy

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          Tesla is pretty competitive right now. 36 to 72 months currently 1.99%. 84 months 2.24%. 96 months 2.49%.
           
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          • Sitter_k

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            That's a great rate.
             
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            • Steven

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              I had a car loan when I was 16. My 1984 CRX I bought at a dealership. A few years later I realized I paid $5k for my $3500k and at that point I swore I'd never have another car loan again.

              I'm 41 now, and I've held true to that. Paid cash for every car I've ever had since. Model 3 will be no different... I've been saving and I'm juuuuuust about there.
               
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              • Luis Estrada

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                Thank you :)
                 
              • Sitter_k

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                No leasing for model 3 right now in the US
                 
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                • Walter

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                  I am hoping to buy the Model 3 I want at a price below 60K (Canadian dollars, after all tax/rebates,etc). And the only hope now is Tesla's exchange rate reset (if there's any). The rate is around 1.25 right now, and Tesla's Model S/X in Canada is at around 1.4.
                   
                • TrevP

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                  Options are at 1.4, cars are about 1.36. I'm hoping for a reset soon. Let's not forget Model S and X also have an extra 6.1% NAFTA duty buried in the price too that shouldn't apply for Model 3. I'm still expecting Model 3 to come in at $45K however for budget safety
                   
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                  • Steven

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                    #12 Steven, Aug 3, 2017
                    Last edited: Aug 5, 2017
                    You've mentioned that 6.1% many times, but I'm not sure that's ever been a factor based on the history of Tesla's own pricing. Everytime they "reset", which they've done more frequently on the way up than down, it seems to reflect what the exchange rate was about three to four weeks before the change occurs. I had it on a spreadsheet that I'll have to see if I can find from back when I was seriously considering an S ( c. 2015 ). It didn't look like the formula was anything like "exchange + 6.1%". Rather, it tracked the exchange rate but with serious lag. Much more lag when it would go in our favor. Much less when it costs them. I guess that's natural.
                     
                  • TrevP

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                    Pricing on Model S and X were adjusted on Thursday.

                    Prices were cut on average 6-8% for Canada
                     
                  • Steven

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                    Take a look at where the dollar was about a month before the adjustment. I'll bet it coincides nicely.
                     

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