1.49 for 60 months via Stanford Federal Credit Union. Does have some requirements to qualify for that rate like be a member ($10 donation) $500 month direct deposit, 25% down or a credit card through them. Contact Delia Vargas-Moreno [email protected] she has done quite a few Tesla loans and has a good process down with the ever changing delivery dates. Great communication and was on top of everything.
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Best interest rate via Tesla financing?
- Thread starter rbaum0519
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Any idea on if how much you put down would affect the rate at all? Or just the length?
That's awesome. Why wouldn't they give you the best rate up front? And why advertise 2.49 if they can do better? I'm sure everyone isn't asking for the better rate. Weird
Maybe they get referral commission from Wells Fargo, and for most 2.5 is acceptable
dc5itr888
Member
Thanks for the tips everyone.
I got the usual 2.49% via US Bank Auto then asked them if they have any lower rates and got JP Morgan Chase for 2.44%.
I then asked directly if they had anything below 2% which I've seen a few of you get which is un thought of. I asked and got BMO for 2.39%
Not sure if I should ask again for them to run it again with Wells Fargo or any other bank out there. I live in Los Angeles and I think I read one of you guys mentioned that anything below 2% is harder over in California.
Thoughts?
I got the usual 2.49% via US Bank Auto then asked them if they have any lower rates and got JP Morgan Chase for 2.44%.
I then asked directly if they had anything below 2% which I've seen a few of you get which is un thought of. I asked and got BMO for 2.39%
Not sure if I should ask again for them to run it again with Wells Fargo or any other bank out there. I live in Los Angeles and I think I read one of you guys mentioned that anything below 2% is harder over in California.
Thoughts?
All depends on your credit score / income etc. We got 1.94% via chase in SoCal.
cvachon
Member
I got the same rate. Credit scores over 800. I emailed [email protected] and told them about DCU and they told me to take their rate. haha They were not able to go down. I'm wondering if it's because we choose the 72 month term and not a shorter one.
We did 72mo as well. And only put down 3k ish. 1.94% via chase. Credit scores are in the 780-800 range (we churn credit cards).
Anyone want to share their DCU Referral Code with me? If Tesla does not match the DCU rate, then I will use DCU and qualify under the 3rd bullet. Just throwing it out there.
It's easy! An existing DCU Member can invite a friend or family member to join by using the Share DCU tool in Online Banking Account Manager.
Once you complete the online referral, we'll send an email with a referral code to your friend or family member inviting them to join DCU. This code is valid for 90 days and can be input on their new membership application. Once your friend opens their new membership and qualifying product (see below for more info), you'll get $10*, and they'll get $20*! That's it!
About Qualifying Products:
Once their membership is opened, new members will need to open at least one of the following in order for you both to qualify for the referral bonus:
DCU's Member Referral Program
Tell a friend or family member about DCU and you both can earn cash.
How Does it Work?It's easy! An existing DCU Member can invite a friend or family member to join by using the Share DCU tool in Online Banking Account Manager.
Once you complete the online referral, we'll send an email with a referral code to your friend or family member inviting them to join DCU. This code is valid for 90 days and can be input on their new membership application. Once your friend opens their new membership and qualifying product (see below for more info), you'll get $10*, and they'll get $20*! That's it!
About Qualifying Products:
Once their membership is opened, new members will need to open at least one of the following in order for you both to qualify for the referral bonus:
- Checking Account with recurring Direct Deposit of your payroll, retirement, Social Security, or other monthly recurring income.
- Checking Account with at least five qualifying transactions; debit/credit card transactions, bill payments, balance transfers, or P2P transfers the same month.
- A vehicle, RV, boat, or mobility loan (purchase or refinance).
cvachon
Member
I emailed [email protected] a few days ago and asked for them to check the Chase rate because I heard folks were getting much better rates than I received from Wells Fargo. The automatically update my loan info to Chase and give me a rate of 2.39 % Vs. the 2.49 % I had previously. I was hoping for a lower rate... but I'll take it.
dc5itr888
Member
I went thru the same except did it multiple times and mentioned specific banks for them to go check my rates with.I emailed [email protected] a few days ago and asked for them to check the Chase rate because I heard folks were getting much better rates than I received from Wells Fargo. The automatically update my loan info to Chase and give me a rate of 2.39 % Vs. the 2.49 % I had previously. I was hoping for a lower rate... but I'll take it.
On my last try, it was back to the 2.49 APR % I got initially. I had them switch it back to my lowest which was also 2.39% but hey 2.49 APR is pretty decent as well.
maybe you got a better rate than me because you're doing 60 months? I did the same thing you did yesterday and got it at 2.24%I got 2.04% from Chase after emailing them when they offered 2.49% from Wells Fargo. 60 month term. Now just hoping I get my model y before 60 days is up. I got excited and did financing right after ordering and THEN I found out that the terms are only good for 60 days
silvermaxd
Member
did you guys wait till you got a VIN number before checking your local banks? I wanted to use my credit union but until I have a VIN I can't really lock anything in. Right now I'm approved for 2.39 on my order page..just haven't hit the confirm button yet. I hope thats not delaying tesla giving me a VIN
dc5itr888
Member
That's not the case. One hasn't been made that fits your order yet that's all.
I started the Tesla/ Personal Bank credit checks when I got my vin. I didnt want to take a hit on my credit check again if it did take longer than 60 days to get me the car since Ill have to end up getting a hit on my credit. Most bank's offer rates are 60 days but some are shorter
OCJeff
Active Member
I'll share that my credit union (had them for years, but initially joined solely for auto loan rates) has a current rate of 1.99% for 60mo, or 2.39 rate for 72 mo.
I think I had to deposit like $5 to join/open the account.
I think I had to deposit like $5 to join/open the account.
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