by Karl Denninger, Market Ticker:

This is pretty-simple stuff folks.

Bharadwaj said she wired Tesla about $60,000 early Aug. 22 to pay for a Model 3. She was told the car was ready for pickup that day; a few hours later, though, she was told her car wasn’t ready after all but would be delivered Sept. 9. That delivery was canceled as well.

“It was extremely difficult to get hold of anyone, and even when I did, I never got the same story,” Bharadwaj said.

If you’re told something is available “cash on delivery” now, and you wire the money the ******n car better be there and in deliverable form.

You have a contract.  If it was never in deliverable form at the time you were told it was, and you wired the cash, that certainly appears to be fraud.  As in go to prison right now fraud.

So is this:

There’s no doubt in Richard Lam’s mind: When he takes the wheel of his Tesla Model 3, he’ll be thrilled with it. “I hear that owners, once they get their cars, are very happy,” said Lam, 31, an electrical engineer from Diamond Bar.

Getting it is the problem. Lam has been waiting more than two months. He’s already paid Tesla for the highest-end Model 3 available, which costs $79,500. He’s paying principal and interest on his loan. But for now he’s left driving a 1999 Mustang, a loaner from his brother.

Who financed it?  And who disbursed the funds to the car company without an actual car being delivered against that with a delivery acceptance signature from the customer?

I have never seen a finance arrangement on a vehicle where the finance company (in-house or otherwise) disburses the funds to the car company (and thus starts charging you interest and principal) until the car is in your hands and you’ve signed acceptance for same.

What’s wrong with people here?  What’s wrong with the state Attorneys General?

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