Alliant Credit Union 1.49% for 72 months

[virtualsmack]

use your actual credit score as a rough guide. mine was 800 via equifax and all other credit bureaus but alliant had me under 700 and a super high rate.

i think they had a ton of demand at the time so it changes but they use their equation to their advantage. but if your score is good, you can get a loan elsewhere.

but it is old practice to pull your own score before reaching out to lenders so you are in control.

I think @bushburner is concerned of the credit being pulled twice, which has a possibility of the rate going higher if your score goes lower due to 2 hard pulls in a short period. That is a valid concern IMHO, I am also waiting for the delivery of my car to be closer to apply. Based on the info from the people above, I think you will get anywhere between 1.74 and 1.99% if you have >=740. Just my 2 cents.

 

[ccutrer]

use your actual credit score as a rough guide. mine was 800 via equifax and all other credit bureaus but alliant had me under 700 and a super high rate.

i think they had a ton of demand at the time so it changes but they use their equation to their advantage. but if your score is good, you can get a loan elsewhere.

but it is old practice to pull your own score before reaching out to lenders so you are in control.

Wow, that's the largest discrepancy between your own reporting of score vs. Alliant's that I've seen. I didn't pay that much attention to exactly what Alliant had for me, but I think it was within 15 of what I expected (I'm right around the 800 range).

 

[virtualsmack]

yea i was pretty annoyed because they first told me that i had bad credit and i needed to fix it (i didn't pull my own score first - lesson learned) and had me really concerned. eventually when i told the agent that i actually pulled my score, only then did she say alliant uses their own formula at which point i looked elsewhere and got a good rate (used bofa).

Wow, that's the largest discrepancy between your own reporting of score vs. Alliant's that I've seen. I didn't pay that much attention to exactly what Alliant had for me, but I think it was within 15 of what I expected (I'm right around the 800 range).

 

[Dcr26]

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.

If you can deduct lease expenses against business profits that is a smart move. I don't have that luxury so I'm buying instead

 

[sunnyvale]

I got 1.74% for 60 days. Yes I did apply thru Tesla landing.

 

[knightrider]

I got 1.74% for 60 days. Yes I did apply thru Tesla landing.

You got it for 60 days? How? When do they say for how long is the rate locked? Before or after they pull your credit?

 

[knightrider]

You got it for 60 days? How? When do they say for how long is the rate locked? Before or after they pull your credit?

This is what I got when landing on the Tesla Lending/Leasing page:

"You can apply for financing any time before your delivery. Please note that credit decisions from our financing partners are good for 30 days. Applications submitted more than 30 days from delivery may need to be re-submitted and/or an updated credit report may need to be obtained."

 

[ccutrer]

You got it for 60 days? How? When do they say for how long is the rate locked? Before or after they pull your credit?

I'm guessing he meant 60 months - the term of the loan, not the rate lock.

 

[Super_Popular]

Those of you in Portland can get 1.99 for 84 months with a credit score of 730 and higher at Point West Credit Union.

 

[Ojas Ray]

I think alliant is going to be the best option at 1.99 for most of us -- and it doesnt seem like they are going to have any special 1.49 incentives any time soon... argh....

 

[knightrider]

I'm guessing he meant 60 months - the term of the loan, not the rate lock.

oops. my bad.

 

[martinicus]

Today my DS said Tesla Lending, through US Bank, is offering 1.99% for 72 months. Looks like Alliant has 1.99% for 60 months or 2.24% for up to 78 months.

 

[wesley888]

Alliant has 1.99% for 72 months as well. That's the one I got approved on.

 

[chrisNchris]

Bummer. Seems like rates have gone up from 1.74 to 1.99% just in past few days. Makes sense with bond market interest rates rising post Trump, but still....

 

[JusTheGreat]

Is it better to apply through Tesla Lending page so that all there partners will be able to offer you rates or should I do it through alliant on my own. I have an account with them already for checking wonder if that will make me get a better rate or not?

 

[martinicus]

I may just stick with Alliant as I'm already in contact with them, and have other loans with them. Simplicity is good in my book.

 

[netslayer]

I may just stick with Alliant as I'm already in contact with them, and have other loans with them. Simplicity is good in my book.

I had a question about this too. Especially wondering how does Tesla Financing know to split a mortgage payment for DTI calculations since my partner works and I would rather not do a joint application for this car. Apparently people on the forum say you just need to tell Alliant that your significant other has a job so a single application needs to consider mortgage payments being split. Any insights?

 

[martinicus]

I had a question about this too. Especially wondering how does Tesla Financing know to split a mortgage payment for DTI calculations since my partner works and I would rather not do a joint application for this car. Apparently people on the forum say you just need to tell Alliant that your significant other has a job so a single application needs to consider mortgage payments being split. Any insights?

I don't know about that. I think they run it through some pretty simplistic debt to income ratio classifications. There isn't any spot on the Tesla application for that, you either choose to apply yourself or jointly.

FWIW I just applied through Tesla Lending to check their rates, and lo and behold they offered me 1.99% 72 months with Alliant after all. I guess it's settled then. At least doing it via Tesla lending will save me from being the middleman.

 

[Gpounder]

I finalized my Model X a couple days ago and was approved at 1.74% for 72 months through Tesla. 10% down was required, but I was told to expect 1.99%. It doesn't make much of a difference at these rates, but you may get a positive surprise after applying.

 

[disagree]

Help?

Can I just use a trade-in as my downpayment? I've never applied for a loan like this online before. (Feels weird putting both my wife -- co-applicants -- and I down as having the same mortgage. They'll figure that out as not 2x the mortgage, I assume?)