Alliant Credit Union as a Financing Option

[Maximapolak]

The current loan rate is only 1.99%. That's nothing compare to even the most conservative investment.

I just applied. We'll see what they give me.

 

[Zooomer]

Zoomer, did you find a different company to finance with or work it out will Alliant?

I ended up going with my credit union. I tried to get further resolve with them and worked with Tesla to get in touch with a higher up. I emailed and left VM and they never got back with me. I think they are a turn and burn shop that goes after A paper clients and the second you aren't what they want they throw you in the trash and move on.

There is negative margin in financing cars at their rates so I'm assuming Tesla gives them a kickback or they do it to get relationships with valuable clients. Let's face it, Tesla owners are low default, high income people. Very desirable to banks. I made a post about my experience and will update it soon. Too long for this thread.

 

[avesraggiana]

Very sound advice. To expand, one should not finance ANY car, but pay with saved assets. I violate this when my saved assets are earning more than the cost of finance. Further - good financial advice will help one get a comfortable life style. At some point, one needs to decide how many steaks one can eat, how many houses one can live in - and STOP accumulating wealth and use some of that to PLAY - buy a fun toy even if it is not a good financial move.

This is how I’m starting to see things too. I’ve already saved enough for a comfortable if not extravagant retirement; medical care and medical emergencies are already covered; middle-class, suburban MacTract home is almost paid for - what else am I saving for? No disrespect to our more mature forum members but I really want to enjoy this vehicle, and myself, now, while I’m younger, rather than later, when I’m older.

There’s that one Muslim Arabic quote I would hear my mum use to turn street beggars away. She had learned it from our house servants while we were living in West Africa - "God will provide.” I’m sure he will, even in my inevitable and not-too-distant-anymore, dotage.

 

[Shaggy]

See and I went the other way. My assets were generating more interest than I was charged for my car loan. After paying on my car, I still had a significant percentage for my next car. So my money worked for me AND paid for the car. In low interests rates but good enough returns its better to not lose the time of building it back up.

 

[DA808EV]

I financed my original MS with them and it was a smooth and easy process but it's been a few years. I am planning on using them for my CPO purchase.

Can anyone comment on their used vehicle loan experience?