Best interest rate via Tesla financing?
- Thread starter rbaum0519
- Start date
That’s strange because the navy credit union by me is promoting new membership for non military folks. Don’t have to be related to a member either. Guess it varies by region.
Ghanziang
Member
The charter for a credit union usually determines who can join. In recent years that has been relaxed quite a bit, sometimes only requiring a $5 deposit. But it may still depend on the state, or even the local branch on how they would like to accept members.
Stevie Jewel
Member
I got 2.65 from USBank via Tesla. The local Tesla delivery manager that I have been talking to said to go outside to one of the credit unions here that they might be offering 0%. I haven't checked yet but didn't seem impossible based on how things are.
Best that I saw was my credit union NFCU. They offered 1.99 for 60 months and 2.29 for 72 months. You can also get .25 off of these rates for automatic withdrawal and longevity credit. I received 2.04 for 72 months two weeks ago.
nice! i ended up shopping around and found chase to be the lowest bidder at 2.69%. Not even a credit union can beat that, and I have tier 1 credit. Mind you, this was in march, I am sure rates dropped since then but ill take 2.69% esp since I have the first 3 months payment postponed due to covid lol
Croathlete
Member
Catbiscuits
Member
We got 2.74% from JP Morgan along with five rejection letters from other banks saying they wouldn’t take our loan. I guess that even though we haven’t missed a single payment for anything in 11 years (that was an oversight during an illness), owning a million dollar home without a mortgage and not carrying over a single month of credit card charges in a decade means we are bad credit risks. Admittedly we have FIRE’d but with 100 AWD Model Ys in our accounts, you’d think they’d have been eager to give us a loan. But no...
Croathlete
Member
About 2 months ago Tesla gave me 2.64 for 72 mos. through Chase. Will they use a later number of 2.24 now? I just got my VIN yesterday. I have an 800+ credit score.
Croathlete
Member
You might have to reapply and probably pull your credit again.
The chase loan apparently is for 30 days, but they extended to 60 days due to covid. When I chatted to follow up on my order to make sure everything was ready to go (as it appeared on my account page), they told me I would be held up on getting a VIN assigned because my 60 days was up on 5/19 and my loan expired. I had to reapply.
Hey, I love my scumbag contractors and I cannot wait to become one in 5yrs when I retire!
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