Alliant Credit Union 1.49% for 72 months

[ithinkmac]

I believe from what I have read is that the 50% bonus depreciation is applied if you have reached the $500k max depreciation for the year. If all your equipment purchase is under $500k, then the 50% does not kick in. I don't remember this kicking in for the last couple of years for my business cars. So maybe I'm wrong, and love to be proven wrong, and recoup some cost.

-ThinkMac-

*Edit* re-read the article. Looks like the 50% kicks in if you reached the $2MM spending cap for the year. Not just equipment purchase, just spending cap. The $500k was the deduction. You won't get more than $500k deduction. And once you're over the $2MM spending limit, you're deduction is reduced dollar for dollar.

I'm not a CPA, but this is what I have learned reading about section 179 if you own a small business. With the section 179 + bonus depreciation + regular depreciation, you can write off 70.6% of the vehicle price provided the vehicle's GVWR >6000lbs during your first year itself.

So, with a Model X with a price of 100K:

• Section 179 lets you write off the first 25K.
• You can then write off 50% of the leftover 75K as a bonus depreciation, which would be 38K.
• Finally you can then write off 20% of the leftover 38K as a regular depreciation, which would be 7.6K.
• This would total to an amount of 70.6K that you could write off in the first year.
• You can then write of the rest as regular depreciation at a rate of 20%/year over a period of 4 years I believe.

All these apply only if you drive the vehicle 100% for business. If you only drive 90% for example, then you should only claim 90% of each of these deductions.

 

[ccutrer]

I should have bought a Lamborgini years ago.

Lol. Gotta love when banks penalize you because you've been financially responsible in the past.

 

[GreenColorado]

+1

I started another thread about how one of their loan officers didn't bother following up with us after we submitted our documents to her.

The same thing happened to me regarding getting different answers from loan officers.

It's hard to believe this is a bank.

Just to offer a different perspective...I had an easy experience with Ricardo Jimenez as a loan officer from Alliant, here in Denver. I had already set up an account with Alliant (just in case). He called for permission to pull credit and asked a couple questions. The loan was approved that day. Once the trade-in number was finalized, he had loan docs within a few hours and the loan funded the next day. Maybe I could have gotten the same rate from our local credit union but it was so easy that I didn't think the additional effort was warranted.

 

[outie]

Another positive experience with Alliant. The loan consultant referred by my OA called me at night around 6PM. Spent 5 min collecting basic info and got approved the next day without requesting any further docs from me. Approved for 100%.

 

[987S4]

Easy experience here, almost too easy.

Approval came quickly and needed no documentation, they just pulled the credit scores.

I was a little late getting the trade-in so car was delivered before the MVPA was generated. I docu-signed as soon as the MVPA was generated and Tesla allowed me to pick it up before the loan was actually funded.

 

[Big Virgil]

What are the current rates buyers have been quoted recently. I was told 2.24 or 2.49 for 60 and 72 months respectively.

 

[Big Virgil]

What are the current rates buyers have been quoted recently. I was told 2.24 or 2.49 for 60 and 72 months respectively.

I meant to say from Alliant.

 

[outie]

What are the current rates buyers have been quoted recently. I was told 2.24 or 2.49 for 60 and 72 months respectively.

1.49 for 72 as of today.

 

[number12]

1.49 for 72 as of today.

Mind PM me officers name? Who you get matter? Or are you assigned someone once you "apply" online?

 

[987S4]

I was assigned an officer after applying.

 

[Oceanwolf]

I also got 1.49% for 72 months, but you need to have good credit. It is not guaranteed that you will get that rate.

 

[Big Virgil]

I also got 1.49% for 72 months, but you need to have good credit. It is not guaranteed that you will get that rate.

Thanks. Definitely over 800 prolly more like 850 credit score.

 

[Big Virgil]

Mind PM me officers name? Who you get matter? Or are you assigned someone once you "apply" online?

Mind PM me officers name? Who you get matter? Or are you assigned someone once you "apply" online?

Can you PM me too? Thanks.

 

[someTimesJoe]

I applied yesterday and took a day to get approved. Had a few open leases they had to clarify before approving. Was able to get the 1.49% for 72 as well. I'm definitely not over 800 but the norm is usually 740 to get the best rates.

 

[Oceanwolf]

My loan is funded for my Saturday delivery. It took only 30 mins for Alliant to get the papers ready and complete it through docusign. I will definitely recommend them for anyone.

 

[Oceanwolf]

Thanks. Definitely over 800 prolly more like 850 credit score.

My rating was 780

 

[number12]

My loan is funded for my Saturday delivery. It took only 30 mins for Alliant to get the papers ready and complete it through docusign. I will definitely recommend them for anyone.

What's time frame from applying to funding?

Just finished production and want to apply as late as possible.

 

[Oceanwolf]

What's time frame from applying to funding?

Just finished production and want to apply as late as possible.

I applied three weeks ago and got approved. I waited until my delivery date is known and MVPA s ready, which was 5 days before delivery. The activation of the loan took 2 hours. You start paying the interest the moment you sign the docs. Alliant wrote an email to my DS who sent the MVPA to them that my loan is funded. I heard applying to loan activation in the same day.

 

[outie]

What's time frame from applying to funding?

Just finished production and want to apply as late as possible.

Well, my loan consultant told me to apply when it's close to delivery when I first contacted her after ordering the car. Fast forward to ~2 weeks before delivery, I was approved in 1 day. She called this morning (still 2 weeks before delivery) confirming the delivery date. When I told her it's 9/27 she said it's still too early to get you docs to sign and / or schedule funding and said we'll circle back on the 23rd (4 days before delivery) to sign docs. However, she did say they have been VERY busy doing tons of Tesla loans. The Q3 push is real.

If you are sure your credit is clean with high score, I think ~1 week before delivery is probably the latest to apply.

 

[Big Virgil]

I applied yesterday and took a day to get approved. Had a few open leases they had to clarify before approving. Was able to get the 1.49% for 72 as well. I'm definitely not over 800 but the norm is usually 740 to get the best rates.

Nice. I just asked for the best rate they had available which was allegedly 2.24 and 2.49.