Some companies (Chevy and Ford) have started giving 0% Financing on their cars. Do you think Tesla will do the same? I'm hesitating to finish putting in my information for delivery in order to get 0% Financing if it will get to that point.
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0% financing ?
- Thread starter mrkbig
- Start date
DeanP
Member
They have an EV comparable to a Tesla? Or are you talking about ICE cars?
Chevy and Ford are massively subsidizing that themselves with inventory sitting on lots across the country.
Tesla has very low inventory and now limited production so there isn't any incentive for them to subsidize. Although the banks they work with may lower rates, but hard to say. I still wouldn't expect zero. Will have to see what happens when Fremont ramps back up. Local credit unions are often cheaper than Tesla financing anyways, which might be your best.
Tesla has very low inventory and now limited production so there isn't any incentive for them to subsidize. Although the banks they work with may lower rates, but hard to say. I still wouldn't expect zero. Will have to see what happens when Fremont ramps back up. Local credit unions are often cheaper than Tesla financing anyways, which might be your best.
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I"m talking about any car. No company has a EV comparable to Tesla right now including charging network. I would love to get in on this 0% Financing though.
DeanP
Member
I would never purchase an ICE vehicle again. 0% or not. Good luck...
SoGA Fan Club
Member
Tesla has never offered (or had to offer) money-losing interest rates to sell cars. With the Fremont factory about to shutdown, there won't even be any cars to buy - so there will be way more demand their cars available - you sure aren't going to see any incentives.
I believe servicemembers can receive an additional 0.25% rate reduction. I'm not a servicemember so can't verify this as true.
Waiting on the wife’s Model Y (MSM AWD), this is her retirement car, only 3yrs left until 20 and I’ve got 5 left! I’ve got a ‘19 SR+ that I really like and we each have 60mi round trip commutes so having an EV is great for us. I couldn't believe the 1.29% we might switch one of us from USAA to Navy Fed for any additional benefits
M3BlueGeorgia
Active Member
If your credit is good enough to get 0% financing on an ICE, you should be able to get 2% financing from your Credit Union, or something close to it.
BTW Most people who sign up for 0% financing would be better off negotiating a better discount off the ICE's price and arranging finance from their Credit Union.
Most dealership would rather you finance with them since they get additional payout for that from the bank. So I doubt them will give you a better price if you don't finance from them. Not sure about 0%, but i know that when I negotiated my previous ICE cars, they always wanted to make sure I finance with them before promising me for a better price.
Also, 2% on $50000 loan is $2500 interest over 5 years, so i will take 0% any day. It's a misconception that dealership like cash buyer, they actually will reluctant to give you a better price if you don't finance since they make extra of that. if you are a cash buyer, always wait until after you finish negotiating then tell them you are paying cash.
DeanP
Member
You may have missed my point. I do not want nor plan to buy another ICE car again no matter the cost.
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