How’d you convince them to eventually match you after they originally denied because to term (65 vs 72) mismatch?
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Best interest rate via Tesla financing?
- Thread starter rbaum0519
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Let us know when you get your response. I just submitted the 1.24% loan docs as well - and hoping for the best (and quick!) response
Success! They have matched me at 1.24% for 72 months. However, now my order agreements/blue button are not clickable anymore but I do still have my VIN and same estimated delivery dates showing. I am assuming it takes 24-48 hours to update since they have to update the MVPA with the new financing terms? Anyone know?
Yes007
7/Red/Blk/OD7-21/EDD(11/02-11/30)/Order on hold
Does anyone know if DCU does hard pull credit check for just membership/checking & Savings account. If not, I want to keep these accounts open and be ready when my turn comes to apply loan.
BrianD
Member
I just asked for clarification on whether this was a new policy and also shared that I knew others that were matched so was trying to understand what was different. They replied that the terms were on the site but that they would make an exception for me. I did not ask anything further
BrianD
Member
When they matched mine the Final Payment section just had a check mark next to it and I was able to expand it to see the details. There was also a new Lending Agreement file under documents. I seems they took the rate match request as my a acceptance which was fine with me. I did email and ask if I needed to do anything else and they said no.
BlackHawk2383
Member
For DCU I just applied for membership and once that was open I applied for the auto loan and submitted my MVPA. I got an email saying docs were submitted but no other indication of loan application so I called them. They were very helpful and got everything set while I was on hold. Probably only about 30min total. No need to setup any direct deposit at this time. Only cost was $5 for opening savings account and $10 for school charity needed for gaining membership. About 4hrs later I got the DocuSign email from them which I sent to Tesla. Within about 90min I had my Tesla matched financing complete.
BlackHawk2383
Member
Only caveat is yes you need to fund the account with $5, but it’s still your money. It doesn’t cost $5 to open. You get it back if you close the account.
I actually funded it with $1,000 to take advantage of their 6.17% APY savings account.
SDM44
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Within those steps you listed above, when did you ask Tesla to change your payment option to Tesla Financing? Also, when did you apply for the Tesla loan (and get the standard 2.49%) in the steps above? It almost sounds like you submitted your DCU loan doc for the rate match before even applying for a loan through Tesla.
My understanding is that you need to apply (and get approved) for a loan through Tesla, and then you submit the DCU loan doc with 1.24% to [email protected] and have them match the interest rate with your 'new' loan through Tesla.
Wait until assigned a VIN. East Coast orders are received about 2 weeks after getting a VIN. Plenty of time to apply for financing. West Coast can be about 1 week. Closer to Fremont, CA the less of a wait after a VIN is assigned.
I’m on the west coast and have found waiting for the VIN was too late - DCU has been slower than expected with crazy phone wait times - and Tesla rate match as been close. 1 week on west coast is not enough… wish I started a bit earlier…
Can you clarify what the timing was for you? I'm on the west coast and have already joined DCU. I was planning on:
- Getting VIN
- Immediately applying for DCU auto loan (24hrs?)
- Applying for Tesla financing (24hrs?)
- Rate match to DCU (24-48hrs)
- Schedule delivery (1 week from VIN)
You can apply for DCU and then 1 min. later apply with Tesla. So that is a "combined" step. Rate matching is rarely past 1 day unless maybe on a weekend.
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