I wasn't able to get them to get everything together in time to fund the car but I plan on refinancing through them. Anyone have any experience with refinancing immediately after buying a car? I read somewhere it's best to wait until you make the 1st payment. Can I inquire with the current lienholder to see what my options are? Refinancing will save me 1200 over the life of the loan.
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Credit Unions with good rates that accept applicants anywhere within the US?
- Thread starter YNoVA
- Start date
Star One has a good rate too right now, but they don't accept everyone - unfortunately.
I looked for a generic financing threads, but came up empty. I'm getting ready to sell my 2020 Model 3 Performance to Carvana for $50,500, which is crazy for a car that cost $63k (w/ FSD) just 2.5 years ago. I feels stupid not to take this offer. So I ordered a shiny new Model 3 Performance. I am waiting for a trade-in value for my 2020, but it would have to be pretty close to Carvana's offer for me to take it. I believe I can save money on the North Carolina sales tax if I traded in. Don't know the details of that. It's on my list to research.
Has anyone used a loan factory like LendingTree successfully in the last couple of weeks? What rate?
If you have a credit union suggestion that has a 60 or 90 day lock, I'll take that suggestion too!
My estimated delivery range right now is September - October. I just ordered. Fingers crossed.
ETA: Moderators moved my post into this thread, so sorry for this out-of-the-blue post #shrug
Has anyone used a loan factory like LendingTree successfully in the last couple of weeks? What rate?
If you have a credit union suggestion that has a 60 or 90 day lock, I'll take that suggestion too!
My estimated delivery range right now is September - October. I just ordered. Fingers crossed.
ETA: Moderators moved my post into this thread, so sorry for this out-of-the-blue post #shrug
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I got 3.24% from my credit union if that helps with comparing your options there.
For the quote, I think Carvana is a bit on the lower side from what I've seen. Have you also tried Driveway, and Vroom? Carvana offered me $55k, while Vroom offered me $60.5k. So make sure to get several different quotes.
Thanks for the rate info. Vroom came back with $48,400, and Carmax offered $48,000 after in-store appraisal. I have a few deep scratches on each interior rear door panel (the lower plastic part) from my dog, so I had to check "minor interior damage". I'm sure that probably lowered it. Tesla's in-app trade-in section didn't ask, and my pictures are pristine. That said, I know Tesla typically undervalues trade-in so I'm not holding my breath. But the sales tax break might help there, so we'll see.
ETA: Driveway came back with $48,400. ¯\_(ツ)_/¯
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That you'd have to check with the State. Ie: Texas taxes based on the price difference when you trade in, but California taxes on the full price of the vehicle.
Anyone else having issues with Everence FCU? I'm trying to get my loan locked in, but my loan officer is very slow to respond, and doesn't read the questions. For example, I created my account per his link, but never received a Welcome email. He keeps saying I need to fill out the wire transfer form that was found in the welcome email, but I keep telling him I never received that lol, it's like going in circles. And he won't tell me the exact terms of the loan as a confirmation since I can't see it anywhere online. My car is scheduled to be delivered next week and I feel like Everence is going to get me delayed.
They definitely have been slow with their responses. But my loan officer did mention they work with a lot of tesla buyers. Maybe calling them on their extension is probably the quickest way to get the information.
Completely agreed, give them a call. Especially since you’re account isn’t even set up yet with delivery so close.
I just spoke to my Everence LO yesterday and she’s running with 40 Tesla loans alone, not to mention all of the other loans she’s managing. Responses have been timely, but the perspective was great to factor in for context.
I’m scheduled to pick up this Saturday, which is right around the corner to me, but the distant future for her since she’s closing loans every day
I’ve got my account created and everything for the loan pre approved and ready to go, so she said the real action happens the day before delivery when they actually close the loan, send the wire to Tesla, etc.
I just spoke to my Everence LO yesterday and she’s running with 40 Tesla loans alone, not to mention all of the other loans she’s managing. Responses have been timely, but the perspective was great to factor in for context.
I’m scheduled to pick up this Saturday, which is right around the corner to me, but the distant future for her since she’s closing loans every day
I’ve got my account created and everything for the loan pre approved and ready to go, so she said the real action happens the day before delivery when they actually close the loan, send the wire to Tesla, etc.FYI - I’m also trading up from a 2020 M3 (LR not P) to a MYP… the best offer I got was from driveway (tried Carmax, Carvana, vroom) for 53k, but Tesla offered me $49,400 and trade-in tax savings in my state make it worth it to trade in. Unless you have a ton of miles or something else going on that seems low for your car… like I said mine isn’t a Performance, nor does it have FSD.
Completely agreed, give them a call. Especially since you’re account isn’t even set up yet with delivery so close.
I just spoke to my Everence LO yesterday and she’s running with 40 Tesla loans alone, not to mention all of the other loans she’s managing. Responses have been timely, but the perspective was great to factor in for context.
I’m scheduled to pick up this Saturday, which is right around the corner to me, but the distant future for her since she’s closing loans every day
So I had tried calling earlier and was told my loan officer would call me back (never did), but I did get a call from a very helpful member from the national branch, and she was able to send me the wire transfer form, my member number, able to process my wire transfer fee, and give me a breakdown on next steps. She obviously mentioned that they were really busy with Tesla orders and people calling to complain and berate them that they applied after the rates changed and didn't get the 1.99 rate before it was gone (shame on them, not Everences' fault that you applied too late).
Either way, back on the road. Also got a text today stating that my Model Y is slated to arrive on August 6th to the delivery center (home delivery date is set for August 13th), will if I can get this all squared away in the next couple days, I'll see if I can move up delivery day!
Since all offers are similar for me, I have to assume there is a mild market correction going on for second hand Teslas, or perhaps it's a regional thing. I'm in NC.
I started speaking with my loan officer with Everence last Thursday. He could have easily given me all the paperwork to sign but every day he emails about 4pm his time, then I respond and he doesn't get back till the next day. My car has been ready since Saturday in the Tesla lot, just waiting for financing...
I decided against a wire transfer as my Tesla center told me a picture of the check is better for them. Apparently they have had issues with wire transfer confirmations, and if the confirmation cannot be confirmed, then they have to wait until the money actually hits the Tesla account.
I decided against a wire transfer as my Tesla center told me a picture of the check is better for them. Apparently they have had issues with wire transfer confirmations, and if the confirmation cannot be confirmed, then they have to wait until the money actually hits the Tesla account.
Anyone here applied and have no VIN yet? My loan officer is asking for MVPA but I don't have the VIN yet so I don't have the document. I told the officer but he hasn't replied yet for 2 days so I wanted to ask if anyone had similar experience. Did they give you a pre-approval? I am worried they might say you need a VIN or you are out, but I doubt it... but still worried...
They’re very slow to respond to me too, but to answer your question it’s not unusual to not have a VIN. Often times people get financing in place (pre approval) and then go to a traditional dealership and buy their car in person, meaning they don’t have a VIN either. In fact this is the recommended approach when dealing with brick and mortar dealers. They do need the VIN for final approval and funding of the loan, so that’s why they’re asking if you already have it they’ll take it.
Funded today. Picking up car this afternoon.
It took 7 business days once contacted by loan officer to get a check or wire transfer for Everence.
It took 7 business days once contacted by loan officer to get a check or wire transfer for Everence.
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