To risk not losing the car, finance with Tesla and the refinance with tower
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Credit Unions with good rates that accept applicants anywhere within the US?
- Thread starter YNoVA
- Start date
is it only for US citizens or non-residents (H1B) can also get a membership from them?
Yes do it in the app you get accepted in like 5 minutes. Super quick and easy. That's what I did to avoid them not having to release the car and assign me a new one since the credit union I was use were dragging their feet
Were you already a member of Tower CU at the time of applying and having approval.
So you basically applied for Tesla load on the delivery date? I am planning to do the same since I have time according to delivery timeframe, but keep getting the texts to complete the pre-delivery tasks.
You can apply for financing before becoming a member. But you have to be a member (apply and submit your $35 donation) prior to finalizing your loan.
No I did it before but I cant see why it wouldn't work. Everything moves fast with the tesla loan I got approved and paid my down payment in like 15 minutes. Working on refinancing now with my slow credit union, took delivery yesterday
In the Tesla app on your phone. One of the pre-delivery tasks is Final Payment or something like that. Once you're close enough to delivery, the option to do it will actually be turned on. It walks you through the process but basically you temporarily log in to your bank account through the app, via routing and account numbers and a one-time passcode, and transfer the money to Tesla right then and there. It's quite slick, and a lot easier than having to go to the bank to get a cashier's check for an exact amount.
And I assume the final step is to accept delivery
What would happen to a down payment If for any reason you can't accept the delivery?
Good question - presumably they’d just send the money back to your account, or cut you a check. Of course, they’d keep the $250 order fee that you already paid.
Yes, the final steps are reviewing and accepting the agreements (not yet available in my app), and then accepting delivery terms, which I believe is done on-site.
So some documents popped up on Tower
It says conditional approval with no % listed anywhere and already asking for a bunch of documents
Asks to join the credit union but there are no instruction where to donate the $35
Original POA documents must be submitted as well
Showing I have time until 02/17 to complete the tasks
Got really frustrated and applied for a loan directly from Tesla app and approved for 72/5.34%
I will take that now and will look forward to refinance later on.
It says conditional approval with no % listed anywhere and already asking for a bunch of documents
Asks to join the credit union but there are no instruction where to donate the $35
Original POA documents must be submitted as well
Showing I have time until 02/17 to complete the tasks
Got really frustrated and applied for a loan directly from Tesla app and approved for 72/5.34%
I will take that now and will look forward to refinance later on.
If you can upload POA, MPV, insurance information before tuesday, then tower can send the cheque overnight. It will be close but you might wait til tuesday before you ask tesla to finance. Anyways tesla need a day at the most. I had experience with tower and they are slow but once they start processing, then it will speed up.. there is a secure message app in tower fcu.. you keep on asking the update after what they asked you to complete.. good luck.. cheers
what is the POA? I don’t have a document. They have my insurance and MPVA already. Literally waiting on them.
POA is power of attorney. I think for them to grant access to your title transferred correctly.....something like that. It was first time I heard about it when doing finance through tower fcu .. you will get esign document i think and you need signatures
Make sure the check is mailed to Tesla. My SA told me that a pic of the loan check and the tracking number will be sufficient.
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