Alliant Credit Union 1.49% for 72 months

[avesraggiana]

Alliant quoted us 2.48% anyone know anywhere else?

The most recent quote I saw was mine, 2.24% for 72 months. I got that rate through Tesla Lending. Staying with Tesla Lending, I ended up going with their other offer, USBank at 1.99% at 72 months.

I think I made a mistake in approaching Tech CU in San Jose CA and applying with them independently. I don’t know why I did that instead of going through Tesla Lending. The best rate I got, which they announced with a flourish in my return phone call to them was, wait for it - 5.74%.

I ended the phone call pretty quickly after that. I’m wondering if I could have done better by allowing Tesla Lending to link me to them, as I had with Alliant, and the other lenders.

 

[flar]

I just got offered 1.99%/60 or 3.09%/72 by TD Bank through Tesla lending. Would love to still find 1.99%/72 somewhere.

I saw someone else mention 2 different rates through 2 banks via Tesla lending - will I receive more emails as they get offers from other banks or do they only send one email with the best rate?

 

[hasselboxster]

I just got offered 1.99%/60 or 3.09%/72 by TD Bank through Tesla lending. Would love to still find 1.99%/72 somewhere.

I saw someone else mention 2 different rates through 2 banks via Tesla lending - will I receive more emails as they get offers from other banks or do they only send one email with the best rate?

This is exactly the same as what I received from them in Friday. TD Bank and 1.99/60 3.09/72.

 

[avesraggiana]

I just got offered 1.99%/60 or 3.09%/72 by TD Bank through Tesla lending. Would love to still find 1.99%/72 somewhere.

I saw someone else mention 2 different rates through 2 banks via Tesla lending - will I receive more emails as they get offers from other banks or do they only send one email with the best rate?

I received just one email with one, first offer from the financing rep at Tesla Lending. He had secured a loan approval from US Bank at 1.99 for 72 months, with a down payment consisting of 10% of the price of my configured car PLUS tax and license. For me, that amount came to almost $16,000.

I wrote back, asking about applying to Alliant CU instead of accepting US Bank. The rep. obliged me with a Tesla-specific link to Alliant, with the warning that Alliant's rates had risen, to 2.24%. In the same email, he also informed me that unsolicited by me, he had secured a revised loan approval from US Bank with same loan terms, but with 0% down, with just tax and license due, less my $2500 deposit. That brought my payment due at delivery to a more reasonable sub-$7000.

My point is, if you're still shopping around for better offers, it may do you well to keep pressing Tesla Lending to "shop your loan around" to their various "lenders of choice", or if the lenders who've already approved your loan could do better for you.

 

[avesraggiana]

I just got offered 1.99%/60 or 3.09%/72 by TD Bank through Tesla lending. Would love to still find 1.99%/72 somewhere.

I saw someone else mention 2 different rates through 2 banks via Tesla lending - will I receive more emails as they get offers from other banks or do they only send one email with the best rate?

One further note - if you're interested in applying to Tech CU, then DEFINITELY do it through Tesla Lending. I did not, and even though I was approved for the amount I requested, it was at a rate of 5.49%. I stayed with the US Bank offer.

 

[kash]

I received just one email with one, first offer from the financing rep at Tesla Lending. He had secured a loan approval from US Bank at 1.99 for 72 months, with a down payment consisting of 10% of the price of my configured car PLUS tax and license. For me, that amount came to almost $16,000.

I wrote back, asking about applying to Alliant CU instead of accepting US Bank. The rep. obliged me with a Tesla-specific link to Alliant, with the warning that Alliant's rates had risen, to 2.24%. In the same email, he also informed me that unsolicited by me, he had secured a revised loan approval from US Bank with same loan terms, but with 0% down, with just tax and license due, less my $2500 deposit. That brought my payment due at delivery to a more reasonable sub-$7000.

My point is, if you're still shopping around for better offers, it may do you well to keep pressing Tesla Lending to "shop your loan around" to their various "lenders of choice", or if the lenders who've already approved your loan could do better for you.

Do you have the link for td bank?

 

[avesraggiana]

Do you have the link for td bank?

No, I don’t, because I never asked for one from Tesla Lending. I applied to them directly on their website. It turned out to be a mistake because I got approved, but for nowhere near the spectacularly low rate they gave others, who presumably worked with Tesla Lending to secure that rate. I recommend working through your rep. at Tesla Lending, and asking about Tech CU specifically, if you want to obtain their lowest loan rates.

 

[flar]

No, I don’t, because I never asked for one from Tesla Lending. I applied to them directly on their website. It turned out to be a mistake because I got approved, but for nowhere near the spectacularly low rate they gave others, who presumably worked with Tesla Lending to secure that rate. I recommend working through your rep. at Tesla Lending, and asking about Tech CU specifically, if you want to obtain their lowest loan rates.

I called back and he will continue to shop around and thinks he can get the 1.99%/72 from Tech CU. I mentioned people getting worse rates from them and he said that they wouldn't have access to the lower rates that they supply directly to Tesla.

One question, even though you got a bad rate directly from Tech CU can't you just ask Tesla to query them for you anyway? Or are they refusing since they already quoted you directly?

 

[avesraggiana]

I called back and he will continue to shop around and thinks he can get the 1.99%/72 from Tech CU. I mentioned people getting worse rates from them and he said that they wouldn't have access to the lower rates that they supply directly to Tesla.

One question, even though you got a bad rate directly from Tech CU can't you just ask Tesla to query them for you anyway? Or are they refusing since they already quoted you directly?

I actually spoke to Tech CU directly, following their loan approval. When I asked them why I was offered such an unfavourable rate, they told me that based on one of my three credit scores, and the resulting FICO score, I could not be considered a “Top Tier” customer. I wasn’t aware of this before the lady explained all this to me. With one or two bureaus, I score in the high 780s. With another one of them, I score in the high 670s, a 100 plus point discrepancy. Tech CU went with my lowest score. Applying through Tesla Lending wouldn’t have made more than a quarter point difference.

At this point, I feel fortunate to have the 1.99% rate that was offered to me by US Bank.

 

[tlouden]

Just got offered 1.99/72 from TD Bank via Tesla. Asked Tesla to specifically apply to TechCU, waiting for response.

 

[kash]

I got the techcu link if anyone needs and alliant
Don't have td as my ds said that their rates have increased as well

 

[Super_Popular]

People of Oregon. Go to PointWest Credit Union. If your credit score is 730 higher you can get a++ lending.

I got $118K for 84 months at 1.99%

No other bank can beat that.

 

[tlouden]

Just got offered 1.99/72 from TD Bank via Tesla. Asked Tesla to specifically apply to TechCU, waiting for response.

Tesla didn't respond to the request, but TechCU responded to my direct application (using the link provided earlier in this thread).

TechCU approved at 10% down (didn't ask for 0%, others seem to get that and TechCU says it's possible) for 1.74% @ 72mo. Interestingly, this is valid for 60-days.

 

[ABC2D]

Tech CU still approves for 1.74% full amount ($125K) $0 down for 72 months (taxes and fees not included). Here is my post from another thread:

The first link is for Tesla loans.
Tech CU - Online Loan Application Center

I've applied using this link directly, without going through Tesla financing, and was approved for 1.74% for 72 months for the full amount. It took them 3 days to approve me thought. While I was waiting for TechCU decision, I did not want to go past Feds meeting without a loan approval/lock, so I applied via Tesla and was approved the same day for 1.99% for 72 months with 10% down payment via TD Bank

 

[Seattle Tom]

Just an update on alliant rates as of Thursday and Friday. All of these are for 100% loan including taxes, minus the $2500 deposit

Above 780 credit score

72 months 2.24%
78 months 2.74%
84 months 3.99%

Vantage West (tucson based credit union) has 84 months for 3.6%

Still shopping rates.
Harry

Looks like Tesla Lending quietly abandoned the 78 and 84 month loans. It's just 60 and 72 months now.

That's financially better of course, but I have to admit playing with that 78 month term just for lower payments - no matter how financially bad that practice can be!

I wonder if other lenders will go with shorter terms only too. I also wonder if this was done for Tesla to receive revenue more quickly. Combined with the capital raise, shorter loan terms will bring $$$ to the corporation more quickly.

 

[acadapter]

I actually spoke to Tech CU directly, following their loan approval. When I asked them why I was offered such an unfavourable rate, they told me that based on one of my three credit scores, and the resulting FICO score, I could not be considered a “Top Tier” customer. I wasn’t aware of this before the lady explained all this to me. With one or two bureaus, I score in the high 780s. With another one of them, I score in the high 670s, a 100 plus point discrepancy. Tech CU went with my lowest score. Applying through Tesla Lending wouldn’t have made more than a quarter point difference.

At this point, I feel fortunate to have the 1.99% rate that was offered to me by US Bank.

Interesting --- When I applied through their Tesla specific division they told me up front which bureau they would pull from. In my situation they are all within 10 points of each other so it wouldn't have been that big of a deal, but this is the first I have heard of them (or any bank for an auto loan) querying all 3 bureaus.

 

[tlouden]

Interesting --- When I applied through their Tesla specific division they told me up front which bureau they would pull from. In my situation they are all within 10 points of each other so it wouldn't have been that big of a deal, but this is the first I have heard of them (or any bank for an auto loan) querying all 3 bureaus.

My team writes the software for doing this type of credit pull. It is not unusual to pull all three scores and then take the lowest when underwriting a loan. It IS unusual to have scores that far apart, probably a good idea to check your own credit report for fraud with that big of a spread.

 

[avesraggiana]

Interesting --- When I applied through their Tesla specific division they told me up front which bureau they would pull from. In my situation they are all within 10 points of each other so it wouldn't have been that big of a deal, but this is the first I have heard of them (or any bank for an auto loan) querying all 3 bureaus.

I’m not sure they did query all three bureaus, but the one they did reflected my lowest score - Experian at 670. This really was the outlier of all my scores - Equifax, Transunion, FICO.

 

[kash]

I’m not sure they did query all three bureaus, but the one they did reflected my lowest score - Experian at 670. This really was the outlier of all my scores - Equifax, Transunion, FICO.

just had that same problem, techcu came back with 3.99 lol nope.. gonna cash this one out

 

[avesraggiana]

My team writes the software for doing this type of credit pull. It is not unusual to pull all three scores and then take the lowest when underwriting a loan. It IS unusual to have scores that far apart, probably a good idea to check your own credit report for fraud with that big of a spread.

Good idea! Thank you. I have a feeling though, that Experian gave weight to a long ago real estate delinquency, while the other bureaus did not. In reading the extended credit reports I pulled up online, this one item in particular didn't even register with the others.