I also got the 1.49%/72 months. Super easy, I'm coming off the back of a Penfed loan for my current S, but Alliant was stupidly easy. I was going to lease, but after a cost comparison that Tesla sent strongly hinting to take a loan instead, I decided to go for the loan instead. Monthly payments were basically the same, with slightly less down. Applied online last night around 9pm, had the pre-approval before 9am today, and the loan completed by 4pm. So easy, just one phone call and a few very easy forms to complete.
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Alliant Credit Union 1.49% for 72 months
- Thread starter loganintx
- Start date
That could be an issue. I know one member who got pre-approved for 100% but then days before delivery, there was a hiccup since Alliant wouldn't consider their business income from this year. They ended up paying cash instead.
Ok you know if the business income was from self-employment? I heard self employed people can have issues
I don't think so. In this case, I believe they had a regular job and a home business in the side. The business had a really good year so far but since they hadn't paid any taxes on the business income yet, Alliant couldn't consider any of the income or business assets. Fortunately the buyer was able to just pay using those funds instead of financing.
I did find it lame how they can pre-approve for 100% and then totally change that approval when you actually apply for financing. That being said, I opened an account with Alliant many years ago since they've always had really good auto loan rates. While they won't finance everyone, I will most likely finance my Tesla through them.
Do you have an opinion on where interest rates are headed?This what I'm doing. My sales price is $86k including sales tax. I'm coming to the table with $40k of my own cash and $15K from a home equity line of credit for a total of $55k down payment leaving $31k to finance. My cash outlay will be about $700 for 4-5 months until tax time. $400 with Alliant at 1.49%, approx. $300 on the line of credit. I opted for a delayed deliver in the Sep- Oct time frame to lessen by burden for as short a period as possible. I'm expecting a $16k tax refund in Feb 2017 which will be used to pay off the line of credit bring my monthly cash outlay down to $400 a month.
Most lenders have criteria for what's a new car e.g. Age, mileage etc. and what's considered used with higher rates for used. Refi's cost more. Most would not allow me to apply my refund to the original loan and refi under one roof without penalties (higher interest rates). Prior to today I was thinking of using two lenders not including my line of credit, but this was a little problematic trying to go with the highest rate for original loan (short term) and refinancing with the lower rate lender for the long term.
I don't work on Wall Street or wear pinstripes on a daily basis, just an old country boy trying to save a buck thru CREATIVE FINANCING
Hopes this helps!
I only ask because you're making a massive down payment rather than taking full advantage of the 1.49%.
WIth the 10yr sitting at 1.6%, I'm looking to put capital into appreciating assets. 100%+ LTV seems to be the way to go.
ZERO260
Member
This what I'm doing. My sales price is $86k including sales tax. I'm coming to the table with $40k of my own cash and $15K from a home equity line of credit for a total of $55k down payment leaving $31k to finance. My cash outlay will be about $700 for 4-5 months until tax time. $400 with Alliant at 1.49%, approx. $300 on the line of credit. I opted for a delayed deliver in the Sep- Oct time frame to lessen by burden for as short a period as possible. I'm expecting a $16k tax refund in Feb 2017 which will be used to pay off the line of credit bring my monthly cash outlay down to $400 a month.
Most lenders have criteria for what's a new car e.g. Age, mileage etc. and what's considered used with higher rates for used. Refi's cost more. Most would not allow me to apply my refund to the original loan and refi under one roof without penalties (higher interest rates). Prior to today I was thinking of using two lenders not including my line of credit, but this was a little problematic trying to go with the highest rate for original loan (short term) and refinancing with the lower rate lender for the long term.
I don't work on Wall Street or wear pinstripes on a daily basis, just an old country boy trying to save a buck thru CREATIVE FINANCING
Hopes this helps!
Im sticking my neck out there. Expecting to retire in two years and would to have the car paid for. I'm not used to car payment over $400 a month, in which I haven't had one in over ten years. The stock market is a crap shoot. I liquidated some stock. As far as earning interest on my saving is pennies per month.
flyhigh123
Member
Dakkor
Member
Try 0.99% for 60 months from Energy FederalValid July 1-31st
Wow - link to that sweet deal?
ZERO260
Member
Auto Rates :: Rates :: Energy Federal Credit Union
The .99% starts 1JUL THRU 31 JUL. tesla special! Deliveries in August 2016 will be 1.43%; still not bad. I did not confirm if this only applies to 60 month loans only. Alliant Is 72 months for 1.49%.
The .99% starts 1JUL THRU 31 JUL. tesla special! Deliveries in August 2016 will be 1.43%; still not bad. I did not confirm if this only applies to 60 month loans only. Alliant Is 72 months for 1.49%.
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I called and spoke with someone about the 0.99% for July and they did confirm that it's for loans that close between 7/1 and 7/31 up to 75k for 5 years. My plan is to get approved for this and try to get the Lightstream rate beat program and squeeze out another 0.10% rate reduction.
LightStream - Loans for Practically Anything
LightStream - Loans for Practically Anything
