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1.99% and 84 months and $0 down financing

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Now that I have your attention….Carolina cooperative credit union (Carolina Cooperative FCU) in Charlotte will do a 1.99%, no money down, up to 84 months for credit scores above 730. They will do this nationally (you have to be a member and can become one by joining a specific NC commerce organization - I dont know what it is because I am in charlotte and have been a member for years - but they can tell you). Note, they will not provide documentation that you can use to price match elsewhere. Their application process isn’t online, but is still super easy to complete a pdf and email it. And they are very easy to work with. You are welcome.
 
Created an account just to reply to this thread.... Will absolutely call about this on Monday. Estimated delivery for my Model Y has been hovering around October now for about 2 weeks and seeing the pre-production Model Y's coming off of the Giga-Texas floor I'm seriously beginning to look into financing options.

Thanks for sharing.
 
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Now that I have your attention….Carolina cooperative credit union (Carolina Cooperative FCU) in Charlotte will do a 1.99%, no money down, up to 84 months for credit scores above 730. They will do this nationally (you have to be a member and can become one by joining a specific NC commerce organization - I dont know what it is because I am in charlotte and have been a member for years - but they can tell you). Note, they will not provide documentation that you can use to price match elsewhere. Their application process isn’t online, but is still super easy to complete a pdf and email it. And they are very easy to work with. You are welcome.

Wish they’d tell you what employer groups, or other organizations membership allows you to join.
 
Does it make sense to do the 1.99 with longer term or 1.5 with shorter term? What's the better financial decision? Really asking because I don't know. I am able to comfortably make bigger payments, but I don't have good financial sense.
No easy answer to that question. You should almost always take the lowest possible rate if the length is comparable as you’ll save money over the term. In my opinion, if you’re debating between DCU at 1.24% for 65mo (and hoping to rate match with Tesla to 72mo term) versus 1.99% for 84 months… it’s a no brainer to go for the 1.24%. 84 months is way beyond the vehicle warranty and one year short of the battery warranty. The thing to consider is how long do you plan on keeping the car..: because if you plan on selling it between 3-4 years, maybe you’d favor paying less per month and just hope to walk away when you sell it. My gut tells me with such similar terms it really doesn’t matter. TLDR; go with 1.24% if you can get it.
 
Has anyone used them from out of town? I called and they said all needed to be done by mail with no electronic method.
Now that I have your attention….Carolina cooperative credit union (Carolina Cooperative FCU) in Charlotte will do a 1.99%, no money down, up to 84 months for credit scores above 730. They will do this nationally (you have to be a member and can become one by joining a specific NC commerce organization - I dont know what it is because I am in charlotte and have been a member for years - but they can tell you). Note, they will not provide documentation that you can use to price match elsewhere. Their application process isn’t online, but is still super easy to complete a pdf and email it. And they are very easy to work with. You are welcome.

If you need to finance a car for 84 months……you’re looking at the wrong car.
 
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In all fairness, the original post said up to 84 months. If they are still offering 1.99% for an 84 month loan, there is a good chance they could be offering something less for a 72 or 60 month loan.
Do you know what credit report they pull? Seems like Equifax has the lowest score for me. All others I am 803 except them (729) 1 point too Low for their 1.99% rate. Hopefully they don't use them (I will call them Monday. But if anyone has an answer that would. also help). I take delivery Monday but if I can get this info I will release VIN in time for the package to come in the mail.
 
In all fairness, the original post said up to 84 months. If they are still offering 1.99% for an 84 month loan, there is a good chance they could be offering something less for a 72 or 60 month loan
Do you know what credit report they pull? Seems like Equifax has the lowest score for me. All others I am 803 except them (729) 1 point too Low for their 1.99% rate. Hopefully they don't use them (I will call them Monday. But if anyone has an answer that would. also help). I take delivery Monday but if I can get this info I will release VIN in time for the package to come in the mail.

Transunion.
 
In all fairness, the original post said up to 84 months. If they are still offering 1.99% for an 84 month loan, there is a good chance they could be offering something less for a 72 or 60 month loan.
I did 84 months at 1.99, and will probably pay it off in 50-60 without penalty. Low cost to borrow means I can use cash for investments that will make significantly more money than the cost to borrow, and this gives me the most flexibility.
 
I did 84 months at 1.99, and will probably pay it off in 50-60 without penalty. Low cost to borrow means I can use cash for investments that will make significantly more money than the cost to borrow, and this gives me the most flexibility.
This is the way to go. It's always best to have the extra cash from the lower monthly payments. I paid off every car I've had in 2-3 years even though they were 5 year loans.
 
Be advised Carolina Cooperative Credit Union does not finance taxes. At least they didn't when I contacted them in late 2020 for a loan. I was told I would have to pay taxes out of pocket which was about $4,300. That was a hard pass for me. I closed my account the day I opened it.
 
Be advised Carolina Cooperative Credit Union does not finance taxes. At least they didn't when I contacted them in late 2020 for a loan. I was told I would have to pay taxes out of pocket which was about $4,300. That was a hard pass for me. I closed my account the day I opened it.
fortunately in NJ we don't pay taxes on EV. Good to know for people who do.
 
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