Best interest rate via Tesla financing?

[scooter77]

long time lurker, patiently waiting for model y updates, but recently registered.. just wanted to thank everybody for the helpful financing tips. Can any one PM me a referral code (or help generate) since my account may be too new?

 

[ejfirestar]

Has anyone taken the rate match loan. ( 1.24% for 60mo) and emailed autofinance@ and asked if they could make it 72mo?

 

[AlanCar]

As mentioned, you can try applying through DCU for a lower rate, but it appears now Tesla will only match their 65 month term to a 60 month term.

If you want a term lower than 2.49% right now, probably the best bet is to apply for the 72 month auto loan with DCU and you'll be able to get it at 2.24% since they take of .25% for an EV loan. Then you would be able to rate match that with Tesla without any issues. I plan on going this route only if Tesla doesn't match the 1.24% loan to 72 months when I give it try in late July or in Aug.

This is not true as of yesterday. They matched my loan exactly to DCU's approval including the length, loan amount, and interest rate.

 

[TesMY]

This is not true as of yesterday. They matched my loan exactly to DCU's approval including the length, loan amount, and interest rate.

DCU ran credit check? and that will be a hard inquiry right?

 

[sgalla04]

DCU ran credit check? and that will be a hard inquiry right?

If you want the official paperwork for [email protected] then yes DCU will do a hard inquiry. But it doesn’t matter, once you have 1 hard check for auto within the same month it all counts the same for multiple checks.

And if you are already applying with Tesla then your hard check for an auto loan for this recent moment in time does no more harm to your credit.

“Most Credit Scores Will Count Multiple Car Loan Inquiries As One”

 

[thomas.george]

When you sign up, you have a chance to donate $10 to one of their organization and you become a member that way.

The big banks must be drying up of business.. or they are sick of DCU and their rate so decided to just stick it to them..

I went with 'Reach Out For Schools'.. I think that's $10 well spent (donated).

 

[thomas.george]

i got 2.75 with a CS bove 70T

i got 2.75 with a CS bove 700

Tesla offered me 2.49% for 72 mos. (740+), but NFCU offered 2.04% for 72 mos.

 

[thomas.george]

As mentioned, you can try applying through DCU for a lower rate, but it appears now Tesla will only match their 65 month term to a 60 month term.

If you want a term lower than 2.49% right now, probably the best bet is to apply for the 72 month auto loan with DCU and you'll be able to get it at 2.24% since they take of .25% for an EV loan. Then you would be able to rate match that with Tesla without any issues. I plan on going this route only if Tesla doesn't match the 1.24% loan to 72 months when I give it try in late July or in Aug.

The payment difference between 2.04 and 1.24 on $40k over 72 months is $14/mo., which is over $1000 in monthly savings.

 

[decflow]

Anyone available to send me a DCU referral code? (I'm new so I cant send out DMs, please DM me if necessary)

I'm looking to open a DCU account to get a loan from DCU, hoping for a 1.49% or even lower! Btw, how are people getting under 1.0% from DCU?

 

[senor_sausage]

I was able to do a post delivery rate match to DCU, so Tesla will mail me a check.

Out of curiosity, what's stopping someone from doing the post delivery rate match and then refinancing anyway to pocket the check and have a lower rate?

 

[HillClimb]

I was able to do a post delivery rate match to DCU, so Tesla will mail me a check.

Out of curiosity, what's stopping someone from doing the post delivery rate match and then refinancing anyway to pocket the check and have a lower rate?

Mind sharing what your rate was. DCU told me they can only do 1.75 at the minimum.

 

[sgalla04]

I was able to do a post delivery rate match to DCU, so Tesla will mail me a check.

Out of curiosity, what's stopping someone from doing the post delivery rate match and then refinancing anyway to pocket the check and have a lower rate?

Haven’t thought about that. But I guess there is some risk in that they don’t match you. But in the end you would still have a lower rate.

Some refi rates aren’t as low either. But DCU is refinancing with the same low rates.

 

[senor_sausage]

Mind sharing what your rate was. DCU told me they can only do 1.75 at the minimum.

1.24 percent, with a 90 day grace period to set up direct deposit. The loan docs say 1.24 percent. I did this as a refinance since I never got an MVPA, only a loan agreement.

 

[sgalla04]

Mind sharing what your rate was. DCU told me they can only do 1.75 at the minimum.

Is that including the 0.5% direct deposit discount and the 0.25% energy efficient vehicle discount?

Their website still shows 1.24% (1.49% - 0.25%).

 

[senor_sausage]

Haven’t thought about that. But I guess there is some risk in that they don’t match you. But in the end you would still have a lower rate.

Some refi rates aren’t as low either. But DCU is refinancing with the same low rates.

I could wait till I get the check and then do a refi to effectively double dip. Too risky to do it now since they won't mail the check for 6 to 8 weeks. And I'm not sure it's worth the effort to do it and deal with the direct deposit at DCU to keep the 1.24 rate.

 

[HillClimb]

Is that including the 0.5% direct deposit discount and the 0.25% energy efficient vehicle discount?

Their website still shows 1.24% (1.49% - 0.25%).

They said the 1.49 is outdated but I may be wrong. He said there .5 is if you deposit your salary not just a regular deposit because they “caught on”

 

[sgalla04]

They said the 1.49 is outdated but I may be wrong. He said there .5 is if you deposit your salary not just a regular deposit because they “caught on”

I guess it could be. I got the 1.24% on Monday June 7th. And there is a 90 day grace period for the direct deposit discount.

 

[HillClimb]

I guess it could be. I got the 1.24% on Monday June 7th. And there is a 90 day grace period for the direct deposit discount.

That still beats tesla. Also the agent was really nice so I may inquire with them after applying with Tesla.

 

[sgalla04]

That still beats tesla. Also the agent was really nice so I may inquire with them after applying with Tesla.

Exactly what I did. And then had Tesla rate match. And they match DCU's 65 month term for 72 months at 1.24%. Still keeping the DCU savings account open for the 6.17% APY on $1,000.

 

[HillClimb]

Exactly what I did. And then had Tesla rate match. And they match DCU's 65 month term for 72 months at 1.24%. Still keeping the DCU savings account open for the 6.17% APY on $1,000.

Great idea. Thanks!