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Alliant Credit Union Financing Update

Discussion in 'Model S: Ordering, Production, Delivery' started by travwill, May 5, 2015.

  1. travwill

    travwill Member

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    Just an update for other new members considering finance options. I called Alliant and they really knew (the guy I talked with John S) all about the Tesla process. Stated also that:

    - loan approval is good for 30 days (so apply when your delivery date is firm)
    - rates/LTV is mainly all based on credit score
    - They are currently offering 1.99% for 60 months, 2.24 for 72 months, but through July 2015 they are offering also 1.99 for 72 months as well if good credit.
    - They will to LTV up to 100% but you do have to pay taxes, fees, deposit, and all that stuff if interested
    - All the above rates require autopay from your institutional account or theirs
    - They technically do have to open a savings account for you and through like $5 but there is no need to use it and/or no fees, etc.

    -T
     
  2. clarkbariowa

    clarkbariowa Member

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    Based on your info, it looks like these rates are only for new purchases. Did you happen to ask about CPO or used rates?
     
  3. Papafox

    Papafox Active Member

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    Last I checked, rates on used cars started at 2.49% at Alliant. I am financing my second Tesla with them since the rates and the interactions with Alliant were much to my liking.
     
  4. Max*

    Max* Autopilot != Autonomous

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    Tesla also "partners" with USalliance. They do up to 110% LTV, if I'm not mistaken.

    Loan Rates - USAlliance Federal Credit Union Used rates start at 1.99%.

    When I inquired about new car rates, they said they can give an extra 1% discount if I bundle my car loan with my checking account (with direct deposit), making the 60 month new loan 1.24% and an 84-month new loan 2.74%. I'd ask if the same bundling applies to used loans (I asked via their online chat).
     
  5. TSLA Pilot

    TSLA Pilot Member

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    Alliant Credit Union is no longer competitive. Many credit unions offer 1.49% loans--mine does on both new AND used cars--for as long as four years.

    Recommend you join a better credit union if you're "buying" the amount of money needed for a Tesla loan. Another option: ask your current financial institution to match the low rates at the CU's offering 1.49%. It doesn't hurt to ask (with the implicit suggestion that you might take your business elsewhere). Money is a commodity so why pay more than 1.49%?
     
  6. leftpinky

    leftpinky New Member

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    Talked with them the other day and got a 2.49 rate for 72 months. It's 1.99 if credit score over 780, 2.24 if over 740. Missed it by a few points, but kinda surprised since score during home refi was about 20 points higher. Different models, I guess. Energy offers something like 2.61 for unto 8 years, but they seemed like a hassle. Got everything done in about 25 minutes.
     
  7. Insane

    Insane Banned

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    - - - Updated - - -

    Thanks a million. Applied and got the approval the same day for 1.99 % Waiting for their terms and conditions.
     
  8. travwill

    travwill Member

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    Awesome, glad to hear it helped. They seem like the best rates right now unless you have a local CU you are already part of that will beat & match theirs. I have to wait a bit longer to apply, expecting a Late June delivery hear so mid-June probably.

    -T
     
  9. GlmnAlyAirCar

    GlmnAlyAirCar Member

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    Got 1.99 for 72 months as well. Woo Hoo!
     
  10. jeffro01

    jeffro01 Active Member

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    How much down percent wise? I have 800+ credit scores and have been grappling with leasing vs purchasing. Granted I can't take delivery until Nov\Dec so the approval\rates today may not matter much then but I'm still feeling out what makes the most sense.

    Jeff
     
  11. travwill

    travwill Member

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    If really needed, Alliant said they will easily do 100% of the car's value (you have to of course pay all tax, title fees, etc like that I think). Should be a valid offer for anyone over 800 I'd say.

    They are not HUGE so seem to know there stuff well. Here is the contact for the guy I'm working with directly. Just waiting for close to delivery to wrap up deal.

    Scott Meyer
    Loan Consultant | Alliant Credit Union | 11545 W Touhy Ave. Chicago, IL 60666
    800-328-1935 x2228 | Fax 773-462-2228 | [email protected]
     
  12. jeffro01

    jeffro01 Active Member

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    THANKS!!!

    Jeff
     
  13. steph280

    steph280 Member

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    I learned about Alliant through this forum and financed our MS through them. The overall process was very painless and the agent I worked with (Jamie Sellers) was very responsive. Overall a great experience.
     
  14. ahurst

    ahurst Member

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    What's the latest on DCU and Alliant's rates?
    They seem to have increased from looking at website.
     
  15. JPP

    JPP Active Member

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    FWIW I got 1.99% at Alliant with 100% financing (not including taxes & fees) about 1 month ago (existing customer with prior Alliant CU loan)
     
  16. ahurst

    ahurst Member

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    JPP, what was your term?
     
  17. pedriscoll

    pedriscoll True Blue Tesla Fan

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    FYI, I financed through Alliant; 1.99% for 72 months. The process was very seamless.
     
  18. lomli

    lomli Member

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    I've been pre approved with the 1.99% apr deal for 72 months- trouble is that it's only good for 30 days and I'm likely to get the car a month from that. The Alliant guy tells me the 1.99 deal will expire at the end of the month and go up by half a point. Apparently I can hold this deal by paying a little extra interest - he suggests it will be a few cents more a month. I'd love to hear if anyone can find a similar deal to the 1.99!
     
  19. tga

    tga Active Member

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    DCU is advertising 1.74% for up to 65 months, before the 0.25% energy efficient car discount (so 1.49% net).

    IIRC, they went up 0.5% this past spring (1.24%->1.74%, or 0.99%->1.24% net), so no recent increase.
     
  20. SabrToothSqrl

    SabrToothSqrl Active Member

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    I rock these guys PSECU - Vehicle Loans


    And did this, to make it tax deductible: PSECU - Homeowner Courtesy Lien


    They considered it a "specialty" car... which is another story, but it's the same rates. And the rate does NOT depend on credit score. They don't do that crap. Either you qualify, or you do not.

    However, I'm willing to jump ship to anyone who can beat what I pay now!
     

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