Best interest rate via Tesla financing?

[alf89]

Regarding DCU, YMMV indeed. The rep I spoke with at [email protected] insisted i provide documentation which shows my name, the approved interest rate, terms, etc. I told the rep that I already spoke with DCU today and DCU told me they do no provide an approval term sheet showing all of those things. They will only go over verbally the terms. The only proof I could possibly be provide would be the final loan docs from DCU. That means not only would I have to (i) pay $10 to join a School organization to qualify to join to DCU and (ii) go through the entire loan process and get final loan docs to show ratematch @tesla.com. That's a buttload of work to get a damn rate match. I would then have to close the checking account at DCU I've opened but haven't even used, and be out $10 for the School membership required to join DCU.

Lucky for those of you who have gotten a DCU rate match from a more reasonable Tesla rep would didn't go strictly by the book and ask for everything!

 

[dragonvn]

Regarding DCU, YMMV indeed. The rep I spoke with at [email protected] insisted i provide documentation which shows my name, the approved interest rate, terms, etc. I told the rep that I already spoke with DCU today and DCU told me they do no provide an approval term sheet showing all of those things. They will only go over verbally the terms. The only proof I could possibly be provide would be the final loan docs from DCU. That means not only would I have to (i) pay $10 to join a School organization to qualify to join to DCU and (ii) go through the entire loan process and get final loan docs to show ratematch @tesla.com. That's a buttload of work to get a damn rate match. I would then have to close the checking account at DCU I've opened but haven't even used, and be out $10 for the School membership required to join DCU.

Lucky for those of you who have gotten a DCU rate match from a more reasonable Tesla rep would didn't go strictly by the book and ask for everything!

Then you should get the loan with DCU. I applied at DCU with the full intention to get the loan with them if Tesla wouldn't budge.

Or you can email [email protected] to try your luck with a different rep.

 

[Langzaiguy]

I had the exact same experience with matching DCU. I joined for $5, screenshotted the loan agreement, and Tesla immediately matched it no prob. Sucks it's not more streamlined, but still worth time and effort.

 

[kentoe]

Adding in here

Emailed: [email protected] prior to filling out financing. They said they couldn't do anything with financing until that section is completed (my misunderstanding of the process)

Filled it out, followed up with them again via the same email thread and I went from:

Wells Fargo @ 2.49% -> Chase @ 1.89%

Stoked

 

[naszero]

Tesla financing lowered my rate from 2.49% to 2.09% @ 60 months. I emailed them again to see if they could get me a rate under 2% and they kindly told me to pound sand

 

[dogmodes]

FYI you can't get the Chase rate if you deliver to OH apparently. I ended up finding a CU that gave me 1.89 if I set up a direct deposit account.

 

[Samyul]

I originally got 2.49% with Wells Fargo. I then emailed Tesla to get 2.04% with Chase. Then, for whatever reason, Chase lowered it down further to 1.79%. Pretty happy.

 

[Anser]

I really appreciate all the info from fellow "Yers". BoA had originally approved a loan at 2.39% APR privately for me and Tesla Finance a ridiculous 3.79 percent thru Tesla TD Finance on the day of ordering 03/12/2021. I emailed [email protected] and [email protected] today and got a much lower Tesla Chase finance offer at 2.04% APR. I am happy with it.
VIN 149425 MSM, 7 seater, 19", No tow, no FSD, no Homelink, Chicago area. Chicago area.

 

[GbrilliantQ]

Another win for Chase. Went from 2.49 with Wells to 2.04% with chase. Can't beat that for a 30 second email!

 

[kmeyer6051]

I was just approved for 2.75% @ 72 months no down payment. Not sure if I'll keep that but it does appear to be a competitive rate

I ordered 3/1/2020

Blue performance, Black Int, FSD, standard wheels

In the " drafting contract " status as of yesterday

I just got 2.49% for 2021 MY, white, long-range, 19inch. I am quite happy with that rate!

 

[carsgomoo]

Tesla financing lowered my rate from 2.49% to 2.09% @ 60 months. I emailed them again to see if they could get me a rate under 2% and they kindly told me to pound sand

So I was able to get Tesla to finally match DCU's 1.74% at 60 months (instead of 65) with Chase. Long story short, if you got approved by DCU, pay the $5 minimum to have in the account and $10 to donate to be applicable for DCU, to open the checking/savings account.

Once you do so, so long as you send DCU the purchase agreement, they'll finally email you the loan doc electronically. Email that loan doc to your SA and Tesla Rate match and they'll be able to match it.

At the end of the day DCU was still really helpful and we're going to keep the checking and savings account but don't have to worry about any type of direct deposits for the life of the loan in order to get that 1.74% rate. Since Tesla didn't offer a 65 month term, it was 60 months instead.

Just thought I'd report back if this helps anyone else. We took delivery of our MY AWD LR today!

 

[shingles]

I just got 2.49% for 2021 MY, white, long-range, 19inch. I am quite happy with that rate!

You should email Tesla, you may be surprised that you may get an even better rate.

 

[pinakoolada]

Hi guys

first post. Here's my exp on how I got 1.86%.

I ordered MY late July 2020. Tesla offered me 2.5% and I accept it from Wells Fargo. A couple weeks later, Watching some youtube videos on MY. This couple mention about EECU and they were offering 1.86% for a new auto loan. So I email my SA and she said, just get a full approval by them and Tesla will match it. Ok, I google EECU and went on their site. I called them and apply. They submit my info and got approved for 1.86. They mail me a membership package and I need to return it for a $5 check and another $10 for fee to be a member. Then I had to email them my pay stub, mortgage info and Tesla invoice. After I did all they ask me to do, they email me my pre approval letter stating 1.86% and I met all requirement. I email my SA that info and a day later on my Tesla account, 2.5% drop to 1.86 from Wells Fargo. Take a good week to finish the process but I got it to 1.86.

FYI, 1.86 is aug rate. SEPT rate is 1.99. If you willing to go thru those trouble. GL. I tried emailing my SA but she told me this is the only way for Wells to match it. Maybe your SA is more willing to help and not needing u go do what I did.

Btw. Bay Area CA guy still waiting on delivery. NO vin yet too. Ordered late July. Got a text 2 week ago, car will be ready within 1-2 weeks. So still waiting....... Seem liked all CA buyers are in the same boat. LOL


hope this help.

How long did it take for your loan to get approved at EECU? I applied the other day and still waiting.

 

[laceyboy]

I would like to ask anyone who actually financed with DCU. How do they process the loan if they don't have local branch on your area?
I just uploaded mvpa to them.
They offered me much better rate than Tesla, so I canceled Tesla finance.

 

[carsgomoo]

I would like to ask anyone who actually financed with DCU. How do they process the loan if they don't have local branch on your area?
I just uploaded mvpa to them.
They offered me much better rate than Tesla, so I canceled Tesla finance.

They'll next day FedEx you the check once you e-sign the loan docs. You just bring that check over to Tesla. FYI, if you read my last post, if you have your loan docs that they send via e-sign, you can download the PDF and forward that to [email protected] for them to match the DCU rate.

 

[laceyboy]

They'll next day FedEx you the check once you e-sign the loan docs. You just bring that check over to Tesla. FYI, if you read my last post, if you have your loan docs that they send via e-sign, you can download the PDF and forward that to [email protected] for them to match the DCU rate.

Thank you for fast reply.
Tesla finance wanted me to pay off a current auto loan and they told me they can't do anything

 

[BDBarlow]

Was first offered 2.49 for 72 months. Emailed [email protected] with my name and order number saying I'd appreciate if they could look for a lower rate and that I had seen people having better luck with Chase. They emailed me back in 6 minutes with 1.99. I'll crunch some numbers and see if DCU and the rate match would be worth the trouble but wanted to share my results as I've been pointing Tesla buyers to this thread for months before actually ordering for myself today.

 

[kmeyer6051]

You should email Tesla, you may be surprised that you may get an even better rate.

That rate WAS from Tesla!!

 

[Sudsington]

That rate WAS from Tesla!!

I think they're trying to say if you email [email protected], Tesla will shop around among its lending partners and potentially give you an even better rate.

 

[NikolaTs]

Was first offered 2.49 for 72 months. Emailed [email protected] with my name and order number saying I'd appreciate if they could look for a lower rate and that I had seen people having better luck with Chase. They emailed me back in 6 minutes with 1.99. I'll crunch some numbers and see if DCU and the rate match would be worth the trouble but wanted to share my results as I've been pointing Tesla buyers to this thread for months before actually ordering for myself today.

I have DCU auto loans, they’re great to go with. I’m trying to decide if it’s even worth the hit on my credit and emails to have Tesla only offer me 1.89 with Chase, when I know DCU will give me 1.74 and finance the delivery and taxes too. The only reason I’d consider going with Tesla is their loans could be longer term than DCUs (DCU’s 1.74 rate is only up to 65 months).

Has anyone had any luck getting DCU to give 1.74 APR for longer than 65 months? Because if they do, it’s a no-brainer.