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Best interest rate via Tesla financing?
- Thread starter rbaum0519
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I already accepted Wells Fargo's 2.49% when I came across this post too. I still contacted Tesla and asked if could check to see if I qualified for a better rate and I got approved a little while later with Chase at 2.24%.Dang, I found out this post after accepted the 2.49% with Wells Fargo through Tesla was asked to put more than 20k down (because my debt/income ratio is high)... Not sure if Tesla could help me get a lower rate from other banks... I wanna cry
You had a quote from Navy Fed for 2.19%, and then got a quote from Chase for 2.29%? Your post made it sound like you went with Chase? If that's true, why? If you went with Navy Fed, I get it. Thanks!
I got 2.49% from Wells as well, but I followed someone posted in this forum just to ask [email protected] for better rate. I didn’t even try to apply from other banks or CUs, just asked Tesla. They came back to me with 2.29% from Chase, which I just take it. Don’t worry you accepted or not, just go ask, won’t hurt.
If approved by Tesla for a 2.49% for 72 mo.how can I go about requesting a lower rate ? Would I just email asking Tesla Financing for a lower rate without proof that I actually qualify for a lower rate ? Or Would I have to shop around for other loans first? I’m a hesitant to do two hard pulls on my credit score.
As shared earlier, just ask, in my case, I simply asked them to give a better rate, I asked them to try BofA, but they came back with the quote from Chase, as they don’t use BofA. That’s all.
Multiple hard inquiries in a short period will be counted as one, you can Google it and you will find a lot of information about that.
Thanks! Does anyone have a sample template on how to appropriately ask for a better interest rate over email or mine sharing how they asked ?
Got 2.14 for 72 months after sending email.
I just sent an email asking if they could get lower through Chase as I've seen others getting lower. They never even replied, but I got the hard pull notice and also the notice for changes in my terms. I also didn't confirm my rate before emailing, though I doubt that matters
I just sent an email asking if they could get lower through Chase as I've seen others getting lower. They never even replied, but I got the hard pull notice and also the notice for changes in my terms. I also didn't confirm my rate before emailing, though I doubt that matters
It's worth asking. I just wrote a note to my SA and after connecting with Tesla Finance my interest rate was lowered from 2.49% to 2.04% on 72 months. Also, being in California, they applied a new CA Clean Fuel Reward Credit that I was unaware of that took $1,500 off the purchase price. With these savings, I'll feel better opting for the Performance Boost once I finally get my car!
Out of curiosity, has anyone asked if any lower rates were available and then been removed from their rate and put into a rate that was higher? Currently at 2.14% and want to see if anything is possibly lower but don't want them to try another bank and then get offered a higher rate and removed from the current rate I have.
miggz410
Member
Anyone know if they reply on Sunday?... I just got a text for a home delivery on 12/2, and trying to see if I can get better lower rate. All you need is the RN number correct?
miggz410
Member
I received a reply on Sunday for a lower rate... Went from 2.49% Wells to 2.19% Chase, and locked it in. Will be picking up the car 12/2.
K-Ram
Member
Shop for rates!
I applied with Tesla last week, and initially got approved for 2.49% for 72 months with Wells Fargo. I immediately emailed them to ask for a better rate, and they came back at 2.34% for 72 months with JP Morgan Chase. I waited until today, and emailed them again, and they came back at 2.19% with BMO Harris Bank. My credit union is offering a .25% rate beat. I sent them what Tesla offered me, and now my credit union is offering me 1.94% for 72 months. Ultimately, I'm going with my credit union, but it pays off to shop for rates! I went from 2.49% - 1.94% within a week.
Partners FCU – Partners Federal Credit Union
To become a member, you must meet one of the following criteria:
- I am a Disney Cast Member, Employee, Imagineer, or a Retiree of The Walt Disney Company or a PFCU Member.
- I am an employee of an Operating Participant.
- I am a household member/related to a Cast Member of The Walt Disney Company.
- I am a Partners Federal Credit Union employee.
I applied with Tesla last week, and initially got approved for 2.49% for 72 months with Wells Fargo. I immediately emailed them to ask for a better rate, and they came back at 2.34% for 72 months with JP Morgan Chase. I waited until today, and emailed them again, and they came back at 2.19% with BMO Harris Bank. My credit union is offering a .25% rate beat. I sent them what Tesla offered me, and now my credit union is offering me 1.94% for 72 months. Ultimately, I'm going with my credit union, but it pays off to shop for rates! I went from 2.49% - 1.94% within a week.
Partners FCU – Partners Federal Credit Union
To become a member, you must meet one of the following criteria:
- I am a Disney Cast Member, Employee, Imagineer, or a Retiree of The Walt Disney Company or a PFCU Member.
- I am an employee of an Operating Participant.
- I am a household member/related to a Cast Member of The Walt Disney Company.
- I am a Partners Federal Credit Union employee.
Thanks everyone for posting rates in this thread. I was originally approved for 2.49 with Tesla finance through US Bank. I checked a local credit union and got 2.25 which Tesla rate matched with US Bank. After seeing reports in this thread of requests them to try Chase I asked my advisor to put my request through again to Chase and they came back with 1.99%. So thanks everyone!
I did go with Chase because Tesla handled the paperwork. The amount of interest saved by doing legwork to go through NFCU was negligible then chase based on the amount I was financing.
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