Any chance the Alliant 1.49% APR loan might come back in November, or any other deals you know?

[Ojas Ray]

The person I spoke with at Fairwinds had experience recently financing other Teslas, so it went smoothly. My purchase order PDF showed up in the MyTesla portal about 3 days before delivery, I sent a copy to Fairwinds and they gave me the cashier's check the next day. I walked into the Tesla dealer on delivery day and handed over the check just like I was paying in cash. Super-smooth and easy. No early payoff penalties, and the 90 days with no payments was pretty awesome. They also offered to re-amortize the loan for free after I receive my $7,500 tax credit in early 2017 if I choose to use that money to pay down the loan balance. That should cut my payments by a few hundred dollars per month. Overall, I highly recommend!

So I live in NJ - can I get this or is this only a FL thing?

 

[jvmoore1]

So I live in NJ - can I get this or is this only a FL thing?

Here is what I found on their site FAIRWINDS Credit Union - About Us

Any person currently living or working in, or business operating in, Orange, Seminole, Volusia, Osceola, Polk, Brevard or Lake county can become a FAIRWINDS member. UCF students, faculty, staff, alumni and all others who bleed black and gold are also eligible to hold membership, as well as members’ families living outside of the seven eligible counties.

 

[Ojas Ray]

Here is what I found on their site FAIRWINDS Credit Union - About Us

Thanks - i called them and since I dont live in FL - and dont know of family / friend who is a member or alumni of USF (i think) i do not qualify.

 

[azdryheat]

For anyone in the airline industry or related to someone at American Airlines, AAcreditunion.org still has 1.49%.

 

[steveho]

My Owner/Advisor told me that tesla (alliant) IS currently offering 1.49% for november, it just doesn't show on the tesla website. Her words:
"The 1.99% you are seeing on the website is just a default. You can go ahead and apply to qualify for the lower rate that is currently being offered. "
This is as of today.

 

[wesley888]

Lower rate usually require shorter term. Maybe 1.49% is for 60 months (or shorter)?

 

[DJ 240V]

Actually it might be 1.43%

The energy efficient vehicles discount excludes other discount. Hence you might lose the .1% discount for autopayment. Meaning 1.93% - 0.5% = 1.43%.

Where does it state the EV discount ? Do you have to run you credit to see it ?

 

[HebrHmr]

Where does it state the EV discount ? Do you have to run you credit to see it ?

Very bottom of the rates page

 

[DJ 240V]

Very bottom of the rates page

Thanks ! There is a $70k cap on the loan at that rate. Any one knows what then APR is? What additional fees would you expect from the finance product ?

 

[Ojas Ray]

My Owner/Advisor told me that tesla (alliant) IS currently offering 1.49% for november, it just doesn't show on the tesla website. Her words:
"The 1.99% you are seeing on the website is just a default. You can go ahead and apply to qualify for the lower rate that is currently being offered. "
This is as of today.

can someone else confirm this?? i wrote my alliant rep a email - but still no response...

 

[⚡️ELECTROMAN⚡️]

I just got an email back. Scott Meyer said it's still at 1.99% for the 72 month loan. Bummer.

 

[steveho]

Did you find out if the 1.49 applied to the 60 month?

 

[⚡️ELECTROMAN⚡️]

"Hi Electroman the rates are still 1.99% for up to 72 months." From that it looks like the 60 month is at 1.99% also.

 

[⚡️ELECTROMAN⚡️]

Alliant is still at 1.99%. I just got approved for a 1.74% loan with US Bank through Tesla lending. They finance up to 90% of the configured cars price. No loan origination fees or prepayment penalties.

I called my local showroom on Monday to ask if they had any recommendations for financing. I was told that they just started working with US Bank and that the rate was 1.74% for up to 72 months. The guy I talked to said that the way to get the best rate is to apply through Tesla Financing on the My Tesla page. I applied Monday evening and on Tuesday I was told I got approve by Alliant at 1.99%. I wrote back and asked what happened to the 1.74% from US Bank. They said US Bank turned me down because my debt to income ratio was too high. I don't even have a house payment and I make about $80k a year. My credit rating is excellent. I was applying for a $64,000 loan. The only debt I have is five more payments of $540 on my Honda. I told the Tesla Credit Specialist that he should let people know if there is a lower rate available, and why they didn't qualify for it. He said he would from now on. Anyway I gave him my wife's income and pertinent info, and got approved for the 1.74%. Not a huge deal. The .25% lower rate will only save me about $500 over the next six years. Every little bit counts. At least psychologically.

 

[hollywood]

I wonder if rates get better before delivery, if they would rate match

 

[Gentilly7]

Alliant is still at 1.99%. I just got approved for a 1.74% loan with US Bank through Tesla lending. They finance up to 90% of the configured cars price. No loan origination fees or prepayment penalties.

I called my local showroom on Monday to ask if they had any recommendations for financing. I was told that they just started working with US Bank and that the rate was 1.74% for up to 72 months. The guy I talked to said that the way to get the best rate is to apply through Tesla Financing on the My Tesla page. I applied Monday evening and on Tuesday I was told I got approve by Alliant at 1.99%. I wrote back and asked what happened to the 1.74% from US Bank. They said US Bank turned me down because my debt to income ratio was too high. I don't even have a house payment and I make about $80k a year. My credit rating is excellent. I was applying for a $64,000 loan. The only debt I have is five more payments of $540 on my Honda. I told the Tesla Credit Specialist that he should let people know if there is a lower rate available, and why they didn't qualify for it. He said he would from now on. Anyway I gave him my wife's income and pertinent info, and got approved for the 1.74%. Not a huge deal. The .25% lower rate will only save me about $500 over the next six years. Every little bit counts. At least psychologically.

Good to know there is a rate better than 1.99% available. I was bummed when 1.49% went away. I am expecting delivery in Dec so I may apply close to the end of this month to lock in the rate for most of next month. That way if rates go up at least I will have 1.74% locked.

 

[theslimshadyist]

Alliant is still at 1.99%. I just got approved for a 1.74% loan with US Bank through Tesla lending. They finance up to 90% of the configured cars price. No loan origination fees or prepayment penalties.

I called my local showroom on Monday to ask if they had any recommendations for financing. I was told that they just started working with US Bank and that the rate was 1.74% for up to 72 months. The guy I talked to said that the way to get the best rate is to apply through Tesla Financing on the My Tesla page. I applied Monday evening and on Tuesday I was told I got approve by Alliant at 1.99%. I wrote back and asked what happened to the 1.74% from US Bank. They said US Bank turned me down because my debt to income ratio was too high. I don't even have a house payment and I make about $80k a year. My credit rating is excellent. I was applying for a $64,000 loan. The only debt I have is five more payments of $540 on my Honda. I told the Tesla Credit Specialist that he should let people know if there is a lower rate available, and why they didn't qualify for it. He said he would from now on. Anyway I gave him my wife's income and pertinent info, and got approved for the 1.74%. Not a huge deal. The .25% lower rate will only save me about $500 over the next six years. Every little bit counts. At least psychologically.

Did they say how long the 1.74% rate was going to be available?

 

[⚡️ELECTROMAN⚡️]

Did they say how long the 1.74% rate was going to be available?

No, but if the rate goes down, you lock into the lower rate. I'm pretty sure 1.74% is the best I'm going to find for a 72 month. I called around and most of the rates were above 2.5%.

I find it odd that the auto loan rates are so much lower than home loans. Does anyone know why this is?

 

[theslimshadyist]

I need that rate to stay at 1.74% for about 2 more weeks. I don't want an additional credit pull after the 30 days so I plan to apply when my vehicle goes into production. My DS told me this would happen before the end of Nov.

 

[Ojas Ray]

I need that rate to stay at 1.74% for about 2 more weeks. I don't want an additional credit pull after the 30 days so I plan to apply when my vehicle goes into production. My DS told me this would happen before the end of Nov.

I am in the same boat - i was told by my DS - that my car would go into production on or near 11/21 -- so once i get a rough date i would apply VIA tesla financing -- i already got approved by alliant for 1.99 but that loan passed because my date got changed by nearly 1.5 months... and i dont want to apply to early - to prevent another credit pull....