This is what I did after I ordered in April. And then applied for loan after VIN in June. And then rate matched with Tesla. If you have the patience and do the rights steps then the low rate is possible for anyone with good credit.
-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
Best interest rate via Tesla financing?
- Thread starter rbaum0519
- Start date
- Status
Makes sense then to get the highest rate you can from Tesla Financing, rate match, then refinance.
They'd be paying you to take the car.
I'm sticking with 1.24% rate match to DCU. Seems like too much trouble to do the above.
Curious as well. Haven’t really heard much from them unlike when the 3 came out. Unsecured rate match loan they did back then was great.
It was a pain doing the refinance since I had to call US Bank for the loan info. I only reached out to see if I could refinance and keep the rebate because I wanted gap insurance, which Tesla financing and Geico don't offer. The lower interest is a bonus though.
Yes, their rates aren’t good. But back then they did rate match just like Tesla. It’s also an unsecured loan. So let’s say, if they rate matched DCU’s 1.49% or whatever, you can take that loan amount and find an interest accruing account, money market, cd’s, etc and make the effective loan rate even lower.
From the terms, it seems they will only match other unsecured loans only.
The Rate Beat Program excludes secured or collateralized loan offers from any lender and the competitive offer must be generally available to any customer with a similar credit profile. Terms are subject to change at any time.
Got 2.49% for 72 mos from Tesla yesterday. Are there any easy options for a match? I don't want to fedex, join any CUs, or change my pmt method with Tesla to get paperwork. I just want to apply online and get a lower rate to screenshot and send to Tesla rate match.
Doubtful you will find less than 2.49% anywhere else that is not a credit union. One easy option is to email [email protected] and simply ask Tesla if any of the other banks that Tesla uses can offer a lower rate.
Some people have been successful in getting 0.25-0.50% reductions by simply asking.
TwelveVoltMan
He'll make sparks fly round your head
The first week in May. My SA told me 2.49% was the best through Tesla. However, I got the 1.94% through the Tesla website, it was just with Chase.
TwelveVoltMan
He'll make sparks fly round your head
Does “SA” stand for “silence advocate”? “Selective amnesia”? Mine won’t communicate by email or text.
I was told 2.49% is the current floor when I emailed [email protected]. It seems this is a recent phenomenon.
2.49% could very well be the floor with "Tesla" themself. But when I completed the paperwork on the Tesla website after I ordered my car, I got an email within 15 minutes that said I had been approved with 1.94% through Chase.
ejfirestar
Member
So, I got my vin last weekend, had my wife finalize the loan through DCU but forgot to remind her to ask about direct deposit discount, so they didn't add it. Got the DocuSign at 10:30am PST showing only 1.74%. spent the next 2 hours on hold to get them to change it. They were able to send me the fixed one about 30min after that.
I forwarded the PDF to Tesla ratematch, and an hour later I was approved for 1.24% for 72mo through Wells Fargo.
Once again feel bad for sort of using them, but my monthly payment is significantly lower, and the difference between 65mo and 72mo interest is like $220, which their savings account interest will cover the difference in the 6 years time assuming it stays about 6%
I forwarded the PDF to Tesla ratematch, and an hour later I was approved for 1.24% for 72mo through Wells Fargo.
Once again feel bad for sort of using them, but my monthly payment is significantly lower, and the difference between 65mo and 72mo interest is like $220, which their savings account interest will cover the difference in the 6 years time assuming it stays about 6%
- Status
Similar threads
