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Alliant Credit Union 1.49% for 72 months
- Thread starter loganintx
- Start date
myblubu
Member
Can you send his info my way as well please
Just sent.
Feel free to use my referral code if don't already have one.
Jay MX
Member
Highly disappointed with Alliant's rates. I received much lower rates from two different credit unions. I'm still struggling over whether to Lease or Loan. My MX 90D went into production two days ago so I will have to make a decision soon.
Someone please convince me why I should purchase rather than lease. I never leased a car until my Volt and the dealership talked me into the lease under the premise that the technology (battery life, etc.) would be much improved at the end of a lease and it would be easier to upgrade to the latest year model and thus have improved battery range, etc.
Bottom line - should I lease or buy? Tesla Leasing has quoted me almost the same monthly payment I would have with a loan. The big financial advantage in my mind would be taking the tax credit for myself if I buy. I know this can be a personal thing, but I'd love to hear the arguments either way. Much appreciated in advance.
Someone please convince me why I should purchase rather than lease. I never leased a car until my Volt and the dealership talked me into the lease under the premise that the technology (battery life, etc.) would be much improved at the end of a lease and it would be easier to upgrade to the latest year model and thus have improved battery range, etc.
Bottom line - should I lease or buy? Tesla Leasing has quoted me almost the same monthly payment I would have with a loan. The big financial advantage in my mind would be taking the tax credit for myself if I buy. I know this can be a personal thing, but I'd love to hear the arguments either way. Much appreciated in advance.
This is what it comes down to. If you have a business where you can write off lease payments do it it's no brainer. If you know 100% you won't keep this car for more than 3 years lease it. Just remember leading means you won't get the tax credits and what not if I'm not mistaken.
If you don't meet those criteria than you should buy it. There will always be new tech and toys to entice you. Depreciation is hardest the first 2-3 years so it's not with buying and then having to pay extra at the ends of you know that is what you are going to do. I thought about leading for a while decided to buy instead because I needed the tax credit and am going to keep this car till it doesn't work any more. I think at this point for my needs it's as future proof add I need it to be.
ccutrer
Active Member
Also keep in mind mileage limits, and changes in driving habits. Our previous car we drove about 10,000 miles per year. With our X, we're at 9,500 miles in 5 1/2 months. It's not that we're thinking "we didn't lease, so let's drive it into the ground", it's more that we love it so much. The other remaining car gets driven much less, because we obviously choose the Tesla when there's a choice. We've also taken two mid-range road trips that we may otherwise not have due to the cheapness of energy (especially when using Superchargers on said trip).
In order to get the 105% loan from Alliant, do I need to put in an application directly through them? I applied for financing through Tesla's website, and was approved for 78 months at 2.24%, but it seems to require 10% of the vehicle price plus tax as a down payment. I tried contacting Tesla's finance department, but no luck on answering phone calls.
I applied straight through Alliant's website and without asking was told "keep in mind you may finance 105% of the value shown on the Configuration Page."
You can see the current Alliant rates by playing with the finance term length here:
Tesla Lending
Currently it appears the best rates they are offering (through Alliant, others might be better) are 1.99% for up to 72 months, 2.24% for 78 months, or 3.74% for 84 months.
I went ahead and applied for financing now before the Fed meets this month since I am expecting to take delivery by the end of the month.
polymathic
Member
Yea it was automatically calculated and required in the contract, came out to be around 15% down of the final out-the-door price
originalsalt
Member
@Jay MX the lease vs. buy arguments depends on everyone's different situations.
I've always purchased my vehicles because I tend to keep them longer than 3 years. I'm the guy who drove a 1997 Geo Tracker for 15 years! Currently, I commute 100+ miles roundtrip per day so the mileage limits typically associated with Leasing is not to my advantage. This is my impetus for purchasing the Model X ---- I plan to drive it for at least 10 years. I expect gas prices to go up in 2017 so the free supercharging for life got me off the sideline. My financing is 2.5% through Tesla Lending which I'm working on them to lower to 1.99%. Still working on it!
