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

[EvilStryke]

Hello everyone,

When I purchased my 2021 Model 3 last year in June, I applied for Tesla Financing since rates were low. The experience was smooth and I didn't really do much for the delivery.

We all know times have changed and rates are higher. I've been scouting around Bay Area CU's and the best 72-month rate seems to be San Mateo Credit Union at 3.49%. Does anyone have experience with applying and working with this CU?

 

[Jz77]

Thanks for the pro tips. Gave me the clarity and idea on what to watch out for.

I applied and got approved for 2.5% 60mo. I opened a savings account as well. Now, I think I uploaded all the docs but not 100% sure what #2,#3 is. I presume #1 is the Order Agreement.

1. Obtain copy of Signed Purchase Order (sales contract) <- Tesla Order Agreement doc?
2. Provide a copy of GAP policy or service contract <- Not Applicable?
3. Non-Franchise Dealer: Obtain perfected title or registration <- Not Applicable?
4. Copy of Valid Driver's License
5. AdelFi Membership is required for all applicants
6. Provide Proof of Insurance
7. Proof of income
8. Copy of Social Security Card

• Once you select a vehicle, submit the purchase order from the dealership to AdelFi*. <- is this the MVPA doc? [From online account (not the app) > Manage > Documents > MVPA]
• You will receive your loan documents via email for e-signing.

 

[Bluelocust]

Thanks for the pro tips. Gave me the clarity and idea on what to watch out for.

I applied and got approved for 2.5% 60mo. I opened a savings account as well. Now, I think I uploaded all the docs but not 100% sure what #2,#3 is. I presume #1 is the Order Agreement.

1. Obtain copy of Signed Purchase Order (sales contract) <- Tesla Order Agreement doc?
2. Provide a copy of GAP policy or service contract <- Not Applicable?
3. Non-Franchise Dealer: Obtain perfected title or registration <- Not Applicable?
4. Copy of Valid Driver's License
5. AdelFi Membership is required for all applicants
6. Provide Proof of Insurance
7. Proof of income
8. Copy of Social Security Card

• Once you select a vehicle, submit the purchase order from the dealership to AdelFi*. <- is this the MVPA doc? [From online account (not the app) > Manage > Documents > MVPA]
• You will receive your loan documents via email for e-

Yes, #1 will be the MVPA. Tesla will generate this document for you, once you change to a third party loan. Looks like you have everything covered. You also have a great rate considering the current environment. I used the messaging feature on the loan application page to touch base with the loan officer. They have always replied to me, or called me. On another note, Adelfi wired the money to Tesla today so everything looks good for my delivery on Wednesday.

 

[JDEWD250]

Redwood credit union has lower rates, I switched from Travis credit union when I seen that redwoods rates were about 1/2 a point lower than theirs, and Redwood also gives you a quarter point discount for an electric vehicle!

 

[T35SLA]

Redwood credit union has lower rates, I switched from Travis credit union when I seen that redwoods rates were about 1/2 a point lower than theirs, and Redwood also gives you a quarter point discount for an electric vehicle!

View attachment 854476

Not bad. How long do they lock their rates for once approved?

 

[JDEWD250]

Not bad. How long do they lock their rates for once approved?

Not sure probably 60 or 90 days.

Look them up.

 

[evforme]

FYI I just applied with Redwood CU for Model Y delivery and got instantly approved for 2.84% and 60 months including the electric discount

 

[EvilStryke]

I wish I could apply for Redwood CU but I don't meet the eligibility for membership. I spoke with a SMCU Loan Officer and since they offer a 90-day rate lock in, I applied today.

I'm just hoping the trade in value isn't lowballed so that I don't have to out pocket more for the down payment...

 

[JDEWD250]

I wish I could apply for Redwood CU but I don't meet the eligibility for membership. I spoke with a SMCU Loan Officer and since they offer a 90-day rate lock in, I applied today.

I'm just hoping the trade in value isn't lowballed so that I don't have to out pocket more for the down payment...

The used car market is not what it was even a few months ago, luckily for me my niece wants to buy my vehicle, so I’m good once Tesla gives me my damn car.

 

[Terrypark]

Does anyone have any experience with Adelfi while being self employed. I’ve been reading you have to upload 2 pay stubs but I won’t have any of those.

Also, can you include the taxes and fees in a loan with Adelfi? Thanks!

 

[rx_for_assyria]

Just spoke to a rep in order to get my account confirmed, right off the bat, she asked if I had found out about AdelFi from the Tesla forums,

 

[Vonte0618]

How long does it usually take AdelFi to respond/pre-approve you for an auto loan?

 

[matev]

Has anyone here used New Orleans Firemans Federal Credit Union? They are advertising Auto loan rates of 1.65%. Not sure what the period is.

 

[Bluelocust]

How long does it usually take AdelFi to respond/pre-approve you for an auto loan?

It was fairly quick for me. I think you should see something within 24 hours. Maybe sooner.

 

[MadScientist23]

How long does it usually take AdelFi to respond/pre-approve you for an auto loan?

I got approval is less than 24 hrs and they were the best rate I could find now. 3.79 @ 84 months

 

[mrdrbunbunster]

Just spoke to a rep in order to get my account confirmed, right off the bat, she asked if I had found out about AdelFi from the Tesla forums,

I have a Model Y estimated to be delivered to Oregon from Dec 8-31. For you and other people who used AdelFi or JACOM, can you tell me how long your rate was approved for? Can I apply in October and still lock in the rate or was it only 30 days? Thanks in advance!

 

[Conor_NY]

It was fairly quick for me. I think you should see something within 24 hours. Maybe sooner.

Cool, just made a checking account yesterday and applied for an auto loan this AM. Will update once I hear back.

 

[Conor_NY]

Applied for my loan online through AdelFi at 9:50am and received my approval at 4:30pm. Seems to be a very efficient process.

 

[rhk109]

FYI. Adelfi doesn’t lend in PA. I was declined based on that.

 

[skydve1]

FYI. Adelfi doesn’t lend in PA. I was declined based on that.

Have you found any documentation which lets you know what state's they're approved to lend in? I looked online and couldn't find anything.