Credit Unions with good rates that accept applicants anywhere within the US?

[scSeattle]

What does it look like on the website? I see an order agreement document link, but that doesn't include sales tax (or will this document show up once I get my VIN?). I see this, but it's not labeled as the MVPA:

View attachment 899799

Sales tax info will come later into picture couple days prior to delivery.

 

[scSeattle]

Did anyone refinance with Tower FCU even before receiving the title from DMV?
What is the maximum time that Tower FCU allows to close the loan? Is it 30 days or 60 days?
How many days did it take to receive title after taking the delivery of Tesla vehicle?
Thanks in advance for the responses.

 

[baddiebats]

Ahh good tip - I just donated. Did you open a checking account immediately with them to become a member?

Edit: nevermind - just saw the option for Prime Share which apparently means you pay $5 and stay a member without opening an actual checking account!

Is just a prime account sufficient, or do you need a checkings as well to make payments toward a loan?

 

[chek39]

Did anyone refinance with Tower FCU even before receiving the title from DMV?
What is the maximum time that Tower FCU allows to close the loan? Is it 30 days or 60 days?
How many days did it take to receive title after taking the delivery of Tesla vehicle?
Thanks in advance for the responses.

I might be in your situation on refinance.
I took Y delivery last week with Tesla finance (not with other banks normally tesla does but my case is actual Tesla finance) with 5.34% APR
I applied refinance with tower on Jan 23rd and I got initial approval yesterday at 2.24% (36 months). I traded in ID4 with tesla which has finance with Tower and Tesla paid off the balance to tower three days ago. so don't know if the approval is very fast with Tower since I am already a member with auto loan and i see many members are still waiting a response from tower

Tower is asking to upload
1. registration copy (not yet received from DMV)
2. copy of title (lein holder or applicant) ---> Since we applied loan, title always with Tesla. Don't know how to get a copy from Tesla
3. payoff statement (i generated payoff statement in tesla app but no instructions in the document if the payment will be through other lender. Tesla expecting me to make payment as per App. Tower can only send a physical check to the payoff lein holder)

As per tower, approval is valid for 30 days... now i need to hunt for answers for the above .. anyone can answer for the points "2" and "3" ? please

 

[WetzelPretzel]

Is just a prime account sufficient, or do you need a checkings as well to make payments toward a loan?

I'm not sure, I signed up for Prime share over a week ago and haven't heard back.

Anyone else here know? Do you need to sign up for a checking account with them, or is the Prime Share ($5) option enough to get membership?

 

[Cyclone]

I'm not sure, I signed up for Prime share over a week ago and haven't heard back.

Anyone else here know? Do you need to sign up for a checking account with them, or is the Prime Share ($5) option enough to get membership?

For membership, Prime Share is enough. Now, for the loan, 0.25% of the rate is because of auto-pay. The questions remains if auto-pay from the Prime Share account or an external account (TFCU pulls vs. other acct pushes) will meet the requirement. I don’t think anybody has provided that feedback here if they’ve even asked.

 

[craaaazzy]

hi guys, am trying to figure out this Tower membership. I've just made my donation but when applying for membership, that is not an eligibility option. I received my donation receipt but am I supposed to wait for confirmation before applying for membership? Thx.

 

[YW555]

hi guys, am trying to figure out this Tower membership. I've just made my donation but when applying for membership, that is not an eligibility option. I received my donation receipt but am I supposed to wait for confirmation before applying for membership? Thx.

 

[Jimboy435]

View attachment 900014

Select tower foundation member since when you donate you become a member

 

[craaaazzy]

thanks guys!

 

[Fleasciante]

Spoke with a rep today that wanted clarification on my application. She said I should hear from the underwriting team in about 2 weeks since they are playing catch-up. That's fine with me since delivery is 3/6-3/31. But it sounds like if delivery is imminent then calling to get it escalated worked for others. She did say they are swamped.

 

[E46M3]

finally everything is finalized wit Tower CU. first loan app submitted on 1/17, membership app submitted the following day and donated as well. Had to call a few times and it was hard to track anyone down. They finally call me back today after at least a dozen calls.

 

[j4y_7]

On Tower's Vehicle Power of Attorney Authorization, what did you guys put for:
"security agreement on account no: _________ dated __________" ?

 

[YW555]

On Tower's Vehicle Power of Attorney Authorization, what did you guys put for:
"security agreement on account no: _________ dated __________" ?

Your membership number I'm assuming.

 

[venkatm]

is the power of attorney to be physically mailed?

 

[rugox]

Has anybody here chosen Tesla financing and then changed to third party financing? I got approved from Tesla financing (US Bank) but the rate is high and want to switch to third party financing.

 

[scSeattle]

I might be in your situation on refinance.
I took Y delivery last week with Tesla finance (not with other banks normally tesla does but my case is actual Tesla finance) with 5.34% APR
I applied refinance with tower on Jan 23rd and I got initial approval yesterday at 2.24% (36 months). I traded in ID4 with tesla which has finance with Tower and Tesla paid off the balance to tower three days ago. so don't know if the approval is very fast with Tower since I am already a member with auto loan and i see many members are still waiting a response from tower

Tower is asking to upload
1. registration copy (not yet received from DMV)
2. copy of title (lein holder or applicant) ---> Since we applied loan, title always with Tesla. Don't know how to get a copy from Tesla
3. payoff statement (i generated payoff statement in tesla app but no instructions in the document if the payment will be through other lender. Tesla expecting me to make payment as per App. Tower can only send a physical check to the payoff lein holder)

As per tower, approval is valid for 30 days... now i need to hunt for answers for the above .. anyone can answer for the points "2" and "3" ? please

Let me update you.
I applied on Jan 19th and got approved today.
1. Since you refinanced even before you got the title/registration, this is substituted by ‘temporary registration copy that Tesla has given you on the day of delivery’
This is enough for them.
2. For Title, just upload Purchase Order Agreement.
3. You can go online and print out payoff statement. Tower will coordinate with the address provided in ‘payoff letter’

Finally Tower added the loan account into my bank account. Takes about 10 days max provided we upload all documents on time.
Good luck!

 

[chek39]

Let me update you.
I applied on Jan 19th and got approved today.
1. Since you refinanced even before you got the title/registration, this is substituted by ‘temporary registration copy that Tesla has given you on the day of delivery’
This is enough for them.
2. For Title, just upload Purchase Order Agreement.
3. You can go online and print out payoff statement. Tower will coordinate with the address provided in ‘payoff letter’

Finally Tower added the loan account into my bank account. Takes about 10 days max provided we upload all documents on time.
Good luck!

Thanks.
Purchase order agreement means MPV right ?
I also see loan copy in my account. probably I will upload both of them including payoff statement and temp registration

 

[YW555]

How long does Tesla Loan take to process? I'll have to use that as a backup and refinance if Tower takes too long.

 

[chek39]

How long does Tesla Loan take to process? I'll have to use that as a backup and refinance if Tower takes too long.

I think it is instant. Once approved your App does show all the information. I do think there could be some down payment.
In my case, i got approved by US Bank (I applied through Tesla) at 5.99% APR. One day before delivery, Tesla finance (actual Tesla finance) matched at 5.34% APR and updated the payment screen in APP. So looks like Tesla shop around (through their network of those 8/9 banks and Tesla finance itself)