.99% APR Financing Promotion (May 10 - May 31 2024)

[ucmndd]

I'm paying $260/mo so I'm not sure if that is low or high. I do have very low deductibles and very high liability coverage soooo...

Indeed it’s almost impossible to compare insurance quotes given all the variables but whoa nelly that seems really high.

Our Model Y - on a 3-car/3-driver policy that includes a 17 year old - is $540 every six months.

250/500 liability limits and $1,000 deductible.

If I were you I’d seriously consider raising your deductible to the max your loan will allow (usually $1k). I’m of the general opinion that I’d never file a claim for something less than a thousand dollars anyway so a low deductible gets me nothing. Insurance companies are way too punitive when it comes to claims history - you’ll pay for using that low deductible many times over via premium increases.

 

[rossini]

I have $1M/$1M and $100/$200 deductible. I have USAA and have shopped around and there isn't a single company that can come remotely close to $260/mo

 

[ucmndd]

I have $1M/$1M and $100/$200 deductible. I have USAA and have shopped around and there isn't a single company that can come remotely close to $260/mo

Do you have a significant claims history?

I mean, you’ve shopped around you’ve done your due diligence so I guess that’s the price on offer.

One more bit of unsolicited advice - I found that a 250/500k auto policy combined with a $2m umbrella policy was a good bit more affordable and provided better all-around coverage than further increasing my auto liability limits. Good luck to ya.

 

[rossini]

Do you have a significant claims history?

I mean, you’ve shopped around you’ve done your due diligence so I guess that’s the price on offer.

One more bit of unsolicited advice - I found that a 250/500k auto policy combined with a $2m umbrella policy was a good bit more affordable and provided better all-around coverage than further increasing my auto liability limits. Good luck to ya.

I have no claim history whatsoever. I have a $2M umbrella already and reducing auto liability down to 250/500k has negligible impact per month.

 

[MoneyTrees]

The saga continues. I was supposed to take delivery tomorrow. Booked a hotel near the delivery location and everything since the family is driving with me. Tesla calls me today and there is damage to the rear lift gate. I can either continue taking delivery and they will fix it for free, or they will put me on a priority match list.

Sigh. Haven’t decided yet.

 

[TSLA Pilot]

Is anyone else finding out they were lied to by Tesla in the home stretch just before delivery?

Friends in WA state were given the 1.99% rate because they opted for the longer term. Now, after weeks of waiting for their new MY, the DAY BEFORE DELIVERY Tesla has randomly raised it to 2.99%, this after being jerked around a million ways with robotext system and the staff at the Fife, WA, delivery center…

It’s as if Tesla is now called “Shady Bait and Switch Car Sales?”

Why has Tesla become so pathetic of late?

Any suggestions on where to find and talk to a human at Tesla?

 

[cusetownusa]

Is anyone else finding out they were lied to by Tesla in the home stretch just before delivery?

Friends in WA state were given the 1.99% rate because they opted for the longer term. Now, after weeks of waiting for their new MY, the DAY BEFORE DELIVERY Tesla has randomly raised it to 2.99%, this after being jerked around a million ways with robotext system and the staff at the Fife, WA, delivery center…

It’s as if Tesla is now called “Shady Bait and Switch Car Sales?”

Why has Tesla become so pathetic of late?

Any suggestions on where to find and talk to a human at Tesla?

Only 2 data points, but both people I know that picked up their cars (one last week and one the week before), both got the 0.99% financing.

 

[Park2670]

Only 2 data points, but both people I know that picked up their cars (one last week and one the week before), both got the 0.99% financing.

I picked up a Model Y ordered in May and delivered in June with .99%.

 

[TSLA Pilot]

Only 2 data points, but both people I know that picked up their cars (one last week and one the week before), both got the 0.99% financing.

How long was their loan for those 0.99% rates?

 

[rossini]

How long was their loan for those 0.99% rates?

Anything up to 60 months. I ordered in May and just took delivery this past Sunday. $0 down because I'd be a fool to put a dime down on effectively free money and high-yield savings accounts giving 5%+ interest. So I'm making a minimum of 4% and more likely over 10%. It's the only reason I didn't hold out for the refresh in Q1 (likely) next year.

 

[mreynolds767]

My Santander .99% past 30 days was no issue at all. 72 months / zero down other than the tax incentives (both federal and state for me). No new credit check or anything like that.

I read some stories of rates "changing" but it is just as likely a computer glitch that will get straightened out by Tesla finance before those people pickup.
The finance department is still over worked so unless you have a pickup the next day or same day they are unlikely to work on correcting issues that may arise.
The local SC centers don't do much ; they rely on a finance department somewhere else in the country so just send off emails.
My opinion until we hear legit reports of terms changing.

Now if you actually pass 60 days (impossible as of today) than all bets are off.

 

[eng8]

Is anyone else finding out they were lied to by Tesla in the home stretch just before delivery?

Friends in WA state were given the 1.99% rate because they opted for the longer term. Now, after weeks of waiting for their new MY, the DAY BEFORE DELIVERY Tesla has randomly raised it to 2.99%, this after being jerked around a million ways with robotext system and the staff at the Fife, WA, delivery center…

It’s as if Tesla is now called “Shady Bait and Switch Car Sales?”

Why has Tesla become so pathetic of late?

Any suggestions on where to find and talk to a human at Tesla?

Happened to my son. He got a text about the delivery and the “new” rate. He responded to the text and they gladly fixed it to .99% as promised. I think this is just a mistake someone made rather than bait and switch. They were swamped with this low APR promotion and an overworked staff made a mistake

 

[DBC-]

My loan term got switched. A few messages and a day later it was switched back. Let them know and it should be fixed.

 

[MoneyTrees]

i got a notification to review my loan terms again, even though I already did when i first ordered. Seemed fishy to me, but it was still same .99%APR for the same term. The only thing that changed was that it switched from Chase bank to Santander.

I'm guessing this switch and some of the paperwork shuffle may have accidentally changed some people's rates.

 

[TSLA Pilot]

My loan term got switched. A few messages and a day later it was switched back. Let them know and it should be fixed.

Thanks for all the insights.

Have taken pictures and will encourage them to stick to their guns and NOT accept this last minute surprise boost in their interest rate.

Tesla is becoming pathetically bad at selling cars and NOT pissing people off at the same time. It’s been a 4- or 5-week ongoing nightmare for them, now incessant demands for final paperwork, yet Tesla would not give them a VIN, and a VIN a required for this final paperwork!?!

Bat sh*t stupid process, and it drives people away from Tesla…what is wrong with these people?

It their worst purchase experience ever, and they have purchased a LOT of cars.

 

[cusetownusa]

How long was their loan for those 0.99% rates?

72 months...they put the order in before the end of May and before they increased the interest rates.

 

[SilverSp33d3r]

I'm picking up a fresh 2024 MY AWD tomorrow and a day later I am selling my 2020 MY AWD to a local dealership a day or two later for a crazy value compared to all the others I've gotten including Tesla. My question is, does anyone have a step-by-step guide of what exact steps to take both on my app and on my car before I sell it to the dealer in a couple of days to make sure everything is wiped, not on my app anymore, and the new car is ready to go with reconfiguring everything? Thanks, all of you in advance. Putting zero $0 down on the car given the .99% rate but will have a ton of equity in the end ti properly invest that will yield significantly more than .99% So a larger monthly payment but it should work out. After netting 7-12% minimum on what I would normally put down on a financing structure that is much less favorable.

On your cars display just go to service - factory data reset. It will coach you from there.

 

[TSLA Pilot]

72 months...they put the order in before the end of May and before they increased the interest rates.

They wish that was the case—Tesla is listing it at 1.99% for over $2k in Finance charges for 72 months, this despite some $6k of trade in equity and another $7.2k down and the $7.5k Fed EV credit….

Not sure why some others got the 0.99% but in this case they ordered at the end of May so by then Tesla had become far less generous with the low interest rate.

Frankly I find it beyond stupid that Tesla Finance, their own internal lender, does not yet exist.

 

[cusetownusa]

They wish that was the case—Tesla is listing it at 1.99% for over $2k in Finance charges for 72 months, this despite some $6k of trade in equity and another $7.2k down and the $7.5k Fed EV credit….

Not sure why some others got the 0.99% but in this case they ordered at the end of May so by then Tesla had become far less generous with the low interest rate.

Frankly I find it beyond stupid that Tesla Finance, their own internal lender, does not yet exist.

Not sure when, but the 0.99% finance offer for 72 months ended sometime in May. Sounds like they ordered the Tesla after that offer ended.

 

[DBC-]

Orders on May 20th could get the 72 month term. That disappeared on May 21st.