I recently applied w/o having to create an account and do the donation for membership. It seems that they're backed up - said it would take 4-5 business days to hear back.
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Credit Unions with good rates that accept applicants anywhere within the US?
- Thread starter YNoVA
- Start date
Thanks for replying, that's quite a long turn around. Makes me want to go with Tesla then look to refi
Just wanted to post my experience if it helps anyone. I got the loan approved from Fedchoice at 3.74% for 72 months. I'm in PA, so AdelFi is not an option for me and this is the next lowest rate I could find.
I applied for the loan from the FedChoice website the day I got the VIN number assigned on 11/21.
11/21
Applied the day I got the VIN and Got an instant Auto-Approval the same day with a request for MVPA and Paystubs
Messaged Tesla 510 number for MVPA. It was available in my Tesla account within 30 mins
Submitted MVPA and Paystubs to FedChoice
11/23
Got a message from Loan processor with a final approval for the loan
Asked for a check to be mailed to me instead of wire and the loan processor Acknowledged it
Got Docusign email and completed around 4:30PM
11/25
Got an email that loan was Funded. this was done by Wire even though I requested a check. and the Wire shows up in the Tesla App as well.
Delivery scheduled for 12/6. so Tesla has the money for 1.5 weeks while the car is still in Transit.
I applied for the loan from the FedChoice website the day I got the VIN number assigned on 11/21.
11/21
Applied the day I got the VIN and Got an instant Auto-Approval the same day with a request for MVPA and Paystubs
Messaged Tesla 510 number for MVPA. It was available in my Tesla account within 30 mins
Submitted MVPA and Paystubs to FedChoice
11/23
Got a message from Loan processor with a final approval for the loan
Asked for a check to be mailed to me instead of wire and the loan processor Acknowledged it
Got Docusign email and completed around 4:30PM
11/25
Got an email that loan was Funded. this was done by Wire even though I requested a check. and the Wire shows up in the Tesla App as well.
Delivery scheduled for 12/6. so Tesla has the money for 1.5 weeks while the car is still in Transit.
I am sorry why was Adelfi not a choice?
I went and applied thur FedChoice, it took them nearly 9 business days to get to me. I called and used the secure text, but was not getting any responses.
I went to Adelfi, took them 5 days to fund my loan, I did call them once to see where we were on the application and to see if they can expedite (which they did since my delivery date was a couple days).
I am also in PA. I got the 3.25% for 60 months.
I went and applied thur FedChoice, it took them nearly 9 business days to get to me. I called and used the secure text, but was not getting any responses.
I went to Adelfi, took them 5 days to fund my loan, I did call them once to see where we were on the application and to see if they can expedite (which they did since my delivery date was a couple days).
I am also in PA. I got the 3.25% for 60 months.
I had read earlier in this thread that they do not operate in PA and someone was declined based on that and apparently that was confirmed on the phone as well. I did not want a hard pull on my credit report, so I did not even bother applying
What is the difference between wire and check? Would wire transfer go to tesla, and check go to your account? Can they wire to my bank account, and I issue a cashier's check to tesla if I accept the car?
singlestack
Member
There seems to be consensus on this forum that Towers, Adelfi, and FedChoice are the best options.
I see one person on here got a good quote from Tesla. Is the general consensus that Tesla does not offer competitive rates? Should I even bother submitting an application for a Tesla loan, or should I just go straight to Towers/Adelfi/FedChoice?
I'd really like to get 3.x%.
I see one person on here got a good quote from Tesla. Is the general consensus that Tesla does not offer competitive rates? Should I even bother submitting an application for a Tesla loan, or should I just go straight to Towers/Adelfi/FedChoice?
I'd really like to get 3.x%.
I would go straight to Adelfi. Keep in mind they are bad at communicating so it sometimes takes a little longer to get it all done, but I did get 3.25
So we can request for extra than the car price to cover taxes and licensing? Do they verify with MVPA?
Worked for me. I applied for $70,500 with a $7,500 downpayment which is more than was needed. I didn’t want to do my downpayment plus tax and license.
In the app under “view agreements”, but I’m pretty sure you’ll need the VIN before the bank will accept it (if it’s even available from Tesla without a VIN).
I went to app and hit the “manage” link on the top left where your order number is. It will direct you to your Tesla webpage. Scroll down half way and you will see
Documents
Order AgreementLemon Law Disclosure
Delivery Configuration
Motor Vehicle Purchase Agreement
There should be “view” links next to each documents.
I have a vin as of 12/1 and went to order agreement which has my reservation number but no vin.
Text the number that told you you have a VIN and ask them to update it.
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