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Alliant Credit Union 1.49% for 72 months

Discussion in 'Model X: Ordering, Production, Delivery' started by loganintx, May 5, 2016.

  1. loganintx

    loganintx Member

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    I just got an email from my rep Danial Tovar from Alliant Credit Union: Alliant - An Online Credit Union for all your banking needs
    I originally had a 1.99% 72 month loan with them for 100% financing of the configuration price for my X.
    Daniel just told me that for all TESLAs they are now doing 1.49% for up to 72 months.

    Very hard to beat that deal!!! I'd get on that if I were you :)

    My DS was happy that I chose them in the beginning because she said they are very easy to work with and obviously understand the Tesla delivery process even for a state like Texas.
     
    • Informative x 3
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  2. Debaser

    Debaser Member

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    By doing this, though, you lose the Tesla guarantee on buy-back.
     
  3. loganintx

    loganintx Member

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    I was never going to do that anyway. It has very little value for me and would cost me money.
     
  4. MSullivan

    MSullivan Member

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    I was gonna go with Tesla but they don't do loans in my state. Thanks for the heads up.
     
  5. loganintx

    loganintx Member

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    My updated Buy vs Lease numbers now show a $10,800 savings to BUY vs LEASE for a 36 month period with 15k mile lease.
    I would have a loan balance equal to 51.1% of the MSRP with the financed loan vs turning the car in with the lease.
    Living in Texas means I have to pay tax on 100% of the purchase price whether I buy or lease.
    Buy options gets me $7500, lease option has $7500 baked in.
    I will also drive the X about 18k miles a year so the Lease would end up costing 9k miles x $.25 = $2,250 more.
    This gives me a $13k buffer for which to sell my X on the private market at the end of 36 months if I so choose in order to come out the same or better than a lease option.
     
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  6. digicool

    digicool Member

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    Thanks for the heads up. I got pre-approved from Alliant a month ago for 1.99%. Now I'll call and ask for 1.49%. I was going to go with DCU for their 1.49% but this now puts me back to Alliant.
     
    • Like x 1
  7. Tgibson

    Tgibson Member

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    I was looking at their website after Tesla steered me to them. Do you have to open any sort of account with them to take advantage of their attractive rates?
     
  8. Jeff Andrews

    Jeff Andrews Member

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    I just looked at their website. Looks like there are a few ways you can join, one of them being to make a $10 donation to a foster care association. Look for the join or become a member button. I'll look more into doing this when I get a delivery date. Thanks, op.
     
  9. loganintx

    loganintx Member

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    Just call them up. They are very helpful and know the Tesla process well.
     
  10. Jeffgtx

    Jeffgtx Member

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    How long will they lock you in that rate though?
     
  11. Blue Millenium

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    I may be paying through the nose between the lease and extra miles I will put on but am not confident what resale value will look like in 3 years and would want the updated battery/autopilot hardware advancements at that time. I do get the business write off on additional miles as well. G-d forbid, if there is an accident, there is a low threshold for writing off the Tesla cars currently. Pls let me know if my logic here is faulty from another perspective.
     
  12. beantobe

    beantobe Member

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    I looked into financing with alliant, but they said they wouldn't finance the taxes or ESA or warranty. Are they covering these things now?
     
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  13. loganintx

    loganintx Member

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    It's simply a math problem. Run the numbers both ways and they will tell you the right choice for you. You can use my sheet to see what the finance option will cost ya:
    Tesla Model X Finance
     
  14. SageBrush

    SageBrush Active Member

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    #14 SageBrush, May 5, 2016
    Last edited: May 5, 2016
    Appreciated!

    I tried to reconcile the sheet's calculated cost of a 3 years loan with my own perhaps lame arithmetic ...
    Seemed like it should be 84,700 - 7,500 + interest.
    Since interest is ~ $700, I get 77,900 but cell H3 says $72,706
     
  15. liuping

    liuping Active Member

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    They will do 100% of the car's cost, I would just pay the sales tax and ESA out of pocket. You should be getting $7500 back from federal taxes later anyway, which should at least cover sale tax.
     
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  16. systemcrashed

    systemcrashed Please Reboot

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    Alliant rep contacted me today to offer me the 1.49% for 72 months, I must say... This is nice. Also, Alliant is the only option if you're looking for 100% LTV especially for 72 months.
     
  17. pete8314

    pete8314 Vendor

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    Hmmmm....I'd planned to lease (new car due end of June), partly because I could write off some of the cost, and also because I need to release some cash from the sale of my current S. But, those rates are really attractive. Honestly, I'm not even sure what the actual tax benefit is from being able to write off the payments (roughly 30% biz miles, 14k per yr), but with the relatively uncompetative lease rates, and having to pay sales tax on the entire amount, the loan is looknig like a more attractive option.
     
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  18. halg

    halg Member

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    One month.
     
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  19. loganintx

    loganintx Member

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    Cell H3 includes gas savings. Multiply cell E3 X 36 to exclude fuel savings.
     
  20. Colby Boles

    Colby Boles Member

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    That's a pretty good deal. I did 1.74%/36mo with Western Federal Credit Union and thought that was the best deal at the time.

     

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