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Best interest rate via Tesla financing?
- Thread starter rbaum0519
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SDM44
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I updated my steps below, as I didn't need to change my Cash payment option to Self Arranged and put in DCU's info for an updated MVPA.
Instead, I just uploaded the MVPA that I received this morning from Tesla and then called DCU to have them push the loan docs through. They accepted & used the original 'cash' MVPA that Tesla gave me and finalized my DCU loan. I'm just now waiting for the email link to download the doc.
I've also asked my SA to reset my payment option now on my Tesla account so I can apply for a Tesla loan, and I'll apply for the same amount on the DCU loan paperwork. Then I'll submit the DCU loan doc to ratematch@tesla and then hope for the best.
Instead, I just uploaded the MVPA that I received this morning from Tesla and then called DCU to have them push the loan docs through. They accepted & used the original 'cash' MVPA that Tesla gave me and finalized my DCU loan. I'm just now waiting for the email link to download the doc.
I've also asked my SA to reset my payment option now on my Tesla account so I can apply for a Tesla loan, and I'll apply for the same amount on the DCU loan paperwork. Then I'll submit the DCU loan doc to ratematch@tesla and then hope for the best.
OCJeff
Active Member
Just Re-Fi into the DCU loan or have the rate match done POST purchase. I believe Telsa will refund you in advance the interest difference.
OCJeff
Active Member
I use people pay to do ACH transfers out of DCU to myself. Not that painful, but yes a hassle.
OCJeff
Active Member
I really appreciate all the assistance this thread has provided. I successfully got the rate dropped to 1.24% for 60m for my model s
SDM44
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Update from earlier today.
Rather than waiting on hold with DCU for an hour, I just selected the call-back option and they called me back exactly 2 hours later just as the message predicted. Pretty good if you ask me, and I'll probably use that option again when I call them back next week to cancel my loan. When I was on the phone, the guy pushed my MVPA through and finalized my loan at 1.24% and said I would see it within 24 hours in my email. I received it about an hour later and download the doc. While I was waiting for it, I had my SA reset my payment option on my Tesla account and I then applied for Tesla financing, and got approved for the 'usual' 2.49% through US Bank. I did NOT click the "accept terms" blue button at that point.
I then emailed my DCU loan doc to ratematch@tesla and politely asked them if they could match the rate on my credit union loan, which I was requesting in the same amount. I received an email back from the proverbial "Chris" who actually said he was happy to confirm my rate match at 1.24% at 72 months for my account, and he then went ahead and finalized everything. I logged back into my Tesla account and sure enough that was all taken care of, and still going through US Bank.
Basically everyone I learned and did was from what I've read in this thread, and there's lots of good info provided. People have slightly different experiences each time, but you can take away the main points of everything and piece together a strategy that will work for you. That's what I did, and fortunately it worked out perfectly for me. Now I'm just waiting to take delivery in the next few days
el-guapin
Trust no One
OCJeff
Active Member
That's great..I got approved from DCU when I was not a member and they give me 2.99% for 72 month. It is so hard to contact them to change the rate and term..
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