I had already accepted their financing terms for 2.25% with US Bank when I read in this thread that at the time many people were getting 2.00% with chase. They were more than willing to resubmit the financing at that point and I got 2.00% with Chase. Just remember that you might lose what you already agreed to if they resubmit things and it is possible you might come out with a higher rate.
-
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
Question: I applied and was accepted for Tesla financing with US National bank at the 2.45%. I was just thinking that I could apply at Navy Federal Credit Union and probably get a better rate (2.2%). Would Tesla be cool if I called and said I want to use my own financing? Would I still get my delivery ontime?
If you would like to still use Tesla financing you can email [email protected] to see if they will match the rate that Navy Federal gave you. I just did this earlier this week and Tesla matched the 2.29% rate I got from NFCU after initially receiving 2.34% from Tesla.
This. I pick up tomorrow and inspired by this post and other posts, I went from 2.74 to 1.89 for 75 months in the matter of 8 hours.
Love this thread.
Carolina Cooperative Federal Credit Union is 1.99% for up to 84 months (credit score 730 or better). I'm not suggesting people take a term that long, but in the uncertain economical climate right now I wouldn't be surprised if someone wanted the lowest monthly payment possible by stretching that term out a lot. (Obviously you could still personally treat that as a 36 or 48 month term and just pay more monthly... but with that safety net of if something goes wrong for awhile you might be able to afford the payments still)
CapsEngineer
Member
I get the same rate and term from the Applied Physics Lab credit union. I’ve always gotten the max term they will give me, make the first payment a month early, and pay more when I can. Never had one go the full term, but it wouldn’t bother me if I did because I keep my cars at least 10 years.
spbond0079
Member
I applied for financing earlier this week. They initially quoted me 2.49% with BMO harris, then after emailing them within a couple of hours they got back with 2.09% with Chase for 60 months. I checked at my local CUs it seems the rate might be slightly better (i.e. less than 0.20%) but the convenience/ease of working with Chase / Tesla financing is worth avoiding CU's customer service.
spbond0079
Member
I applied through tesla first. Got a rate. Then shopped around and emailed their financing department as well.
I accidentally did financing on my own last year when they sent out "prepare for delivery" email and my settings had been locked since. I decided to shop around on my own to see what I can get before trying to get a DA to change my Tesla account settings. I end up getting a 2.09% rate through BoA this morning and this looked pretty good compare to what others have gotten so I think i'm going to end up sticking with this instead of trying to get a loan through Tesla.
ChrgdTeCHick
Member
1/31/2021: 2.49% from BMO, 72 Months
2/1/2021: 2.29% from Chase, 72 Months
Didn't inquire on 60 Months. But 72 provides the flexibility to treat the payments like a 60 to save on interest, or... not.
Side note, they ran my credit twice, one with BMO, another with US Bank. It wasn't ran for Chase when I asked for a better rate.
May rate shop closer to delivery outside of Tesla in case it's higher than my offer.
2/1/2021: 2.29% from Chase, 72 Months
Didn't inquire on 60 Months. But 72 provides the flexibility to treat the payments like a 60 to save on interest, or... not.
Side note, they ran my credit twice, one with BMO, another with US Bank. It wasn't ran for Chase when I asked for a better rate.
May rate shop closer to delivery outside of Tesla in case it's higher than my offer.
- Status
Similar threads
