Best interest rate via Tesla financing?

[dragonvn]

I qualified for the 2.09% for 60 months with Chase after emailing Tesla. I also applied for the DCU 1.74% up to 65 months and got approved (technically 2.49%, minus 0.50% for having a free checking account with direct deposit and another 0.25% for energy efficient vehicles.)

The problem is Tesla is unable to price match as they need a written approval of which DCU doesn't do nor have after speaking to 2 reps. So I'm not sure how some of you were able to have Tesla price match DCU in the first place..

I didn't talk with the DCU rep. I sent them emails. I then sent Tesla the email saying my application was approved and another email rep saying the rate would be 1.74% after all the contingents. Tesla matched with that info. I think it may be ymmv depending how lenient the Tesla rep is also.

 

[carsgomoo]

I didn't talk with the DCU rep. I sent them emails. I then sent Tesla the email saying my application was approved and another email rep saying the rate would be 1.74% after all the contingents. Tesla matched with that info. I think it may be ymmv depending how lenient the Tesla rep is also.

Let that be a lesson that if you're looking to apply for the 1.74% rate with DCU and ultimately have Tesla rate match that rate that to go through email only so that everything is in writing if possible. Make sure to also get the contingents in the email as well. I applied online using their portal and received a approval email with no rate mention and was told over the phone the approved amount, rates and terms.

 

[Wabsa]

I just received 1.84% for 72 months through Tesla (JPMorgan Chase) just by asking. No documentation needed.

 

[PagsY]

That's an awesome rate. 60 or 72 months?

72 Months

 

[AndrewRAllen]

Same....1.74% for 72 months (down from the std 2.49). Just for asking, no comparable documentation needed. They did ping transunion again (it had been about 30 days since original loan app)

 

[carsgomoo]

Congrats to all that got sub 2% rates! I think it's region based as some had previously mentioned. Guess rates are higher from Tesla if you're in CA, specifically maybe SoCal.

 

[Rockr007]

I qualified for the 2.09% for 60 months with Chase after emailing Tesla. I also applied for the DCU 1.74% up to 65 months and got approved (technically 2.49%, minus 0.50% for having a free checking account with direct deposit and another 0.25% for energy efficient vehicles.)

The problem is Tesla is unable to price match as they need a written approval of which DCU doesn't do nor have after speaking to 2 reps. So I'm not sure how some of you were able to have Tesla price match DCU in the first place..

I got 1.74% from DCU. I contacted the reps at DCU and they sent paperwork to sign for the loan. I took screenshot of document where it said 1.74% and sent it to SA who got my rate down from 2.24% to 1.74%. Took about an hour. Only reason I did not go with DCU was they wanted direct deposit etc and I wasn’t keep on it and also it was for 65 months vs 72 months from tesla

 

[JBT66]

DCU gave me 1.74% for 65 months on a used Y. I asked my advisor if I could check with Tesla if they would match and she said they don’t match. Does this sound right? I understand mine is for a used so maybe only new?

 

[RHMY]

Emailed and got 1.79% for 48 months through Chase

 

[JBT66]

Are you guys emailing your advisor or a specific finance person?

 

[dragonvn]

Are you guys emailing your advisor or a specific finance person?

[email protected]

 

[JBT66]

I just changed it to Tesla preferred financing filled out the info and received the 72 month 1.79% rate with out question.

 

[naszero]

Congrats to all that got sub 2% rates! I think it's region based as some had previously mentioned. Guess rates are higher from Tesla if you're in CA, specifically maybe SoCal.

I'm having trouble getting sub 2% rates without proof of documents as well. I'm in SoCal, 800+ score on a 60 month purchase. Best was 2.09% :\

 

[Yungcotter]

I'm having trouble getting sub 2% rates without proof of documents as well. I'm in SoCal, 800+ score on a 60 month purchase. Best was 2.09% :\

yup, Not sure how some of you guys are getting these rates without matching. I went out this morning to see if they will beat my current 2.14% and received this
"the floor rate with our other lenders is at 2.49%, we will not shop the other lenders as your current rate is the best we will be able to obtain."

 

[blinkme323]

I applied today, perfect credit, NE region and received 2.84% over 72 months. So random.... I'd love to have them match, but I really don't want to have to fill out another credit app with a lender.

 

[AndrewRAllen]

I’d email the finance department tomorrow and ask for any better rates. No harm in trying, no additional apps to fill out. Plenty of people’s rates have been lowered without having to request a ‘matching rate’

 

[monolith]

Congrats to all that got sub 2% rates! I think it's region based as some had previously mentioned. Guess rates are higher from Tesla if you're in CA, specifically maybe SoCal.

I'm from SoCal, Orange County. I received 1.84% from Chase for 72mo. Score is around 800 with existing relationship with Chase (checking saving accounts, credit cards etc).

 

[AZMurph]

Wow — this works. I had US Bank for 2.49% and emailed them and asked if I could move to Chase. I didn’t say anything about rates. My current loan is Chase so I already have a login and that was my main ask. 30 minutes later they email that it’s all set with Chase at 2.04%. So I didn’t get the sub 2% but also didn’t try to match anything.

 

[carsgomoo]

I'm from SoCal, Orange County. I received 1.84% from Chase for 72mo. Score is around 800 with existing relationship with Chase (checking saving accounts, credit cards etc).

Haha I have absolutely no idea why it's so wide and varied. As with many other here I too have 800+ credit score, great income, ~25% down, qualified for the 1.74% w/ DCU, no chase bank but multiple Chase CC including a few business ones but still got capped out at 2.09% w/ Chase w/ Tesla for 60 months. Who knows..

 

[naszero]

Haha I have absolutely no idea why it's so wide and varied. As with many other here I too have 800+ credit score, great income, ~25% down, qualified for the 1.74% w/ DCU, no chase bank but multiple Chase CC including a few business ones but still got capped out at 2.09% w/ Chase w/ Tesla for 60 months. Who knows..

I'm in the same boat. I think the difference is you and I are financing for 60 months where carsgomoo is financing for 72 months