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DCU Loan & Tesla Rate Match

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ModYLA

Member
Jul 2, 2021
202
249
Los Angeles
This appears to be a frequently discussed topic, but I’m still struggling to figure out the process even after reading through a few threads. I just got my vin, with a delivery date expected over the next few days. Can anyone point me to a list or process to Apply for a DCU loan, and then have tesla rate match? I’m hoping that I didn’t wait too long, and now in a big rush to get financing situated. I can pay cash, but would prefer not to because I think it will make financing more challenging.

Also, do I need a referral to join DCU? If so, if anyone could raise their hand I will PM you my info.

Thanks!
 

pcmike

Member
Jan 1, 2020
281
240
Florida
Did you guys apply for Loan through Tesla and then apply for rate match? or just send [email protected] email after DCU docs without appling with Tesla and Tesla set up your rate automatically ? I have not applied for Tesla Loan and not sure if I need to do that before sending the email to ratematch ?. Thanks
People have done it both ways. I had just sent the docs to ratematch, but I hadn’t heard back in two days so I called Tesla and the representative had me fill out a Tesla app. The next morning I got an email from ratematch saying everything was updated.
 
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coolasice

Member
Sep 7, 2021
12
5
Dallas
People have done it both ways. I had just sent the docs to ratematch, but I hadn’t heard back in two days so I called Tesla and the representative had me fill out a Tesla app. The next morning I got an email from ratematch saying everything was updated.
Same happened to me too.. didnt hear back from Tesla so called and I was told to fill app, which I just did ! thanks
 
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PackMan730

Member
Jul 11, 2021
324
205
Glendale CA
Did you guys apply for Loan through Tesla and then apply for rate match? or just send [email protected] email after DCU docs without appling with Tesla and Tesla set up your rate automatically ? I have not applied for Tesla Loan and not sure if I need to do that before sending the email to ratematch ?. Thanks
I applied to Tesla then sent them the DCU docs to match the rate. Tesla needs to run your credit to make sure you even qualify for a loan.
 
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PNWLeccy

Active Member
Jul 11, 2019
1,501
1,360
Seattle
I applied to Tesla then sent them the DCU docs to match the rate. Tesla needs to run your credit to make sure you even qualify for a loan.
Since Tesla only lets you get a loan for the value of the car and DCU allows 125%, will Tesla increase the value of their loan as well as match the interest rate using rate match?

I was planning on financing the total cost + fees and sales tax since the rate is so low.
 
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PNWLeccy

Active Member
Jul 11, 2019
1,501
1,360
Seattle
From what I saw posted earlier, Tesla will do 105%, I believe.
Yea, I saw that as well but wasn't sure if they offered more than that when rate matching.

With the high WA tax and fees my total cost is nearly 112%

1631125943987.png
 
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StrykerSam

Member
Jun 13, 2021
51
59
Modesto
Are you a banking member of BoA?

How is that possible?

That BofA loan seems unattainable unless you have all you checking savings plus investment accounts and considered a premier BofA member. They offer .5% off if you have all of those things with them. If not, you can just get the peon rates. Lol.
Sorry everyone, I am a banking member with BOFA and also do meet some of the required elements. I’m just giving out another option for our forum members to look at just in case DCU isn’t working out.
 
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Just wanted to update.. I did get Tesla match to match 1.24% today ! so its still valid that Tesla match Rate.

Thanks for all the help here.

Wanted to know when did you guys cancel DCU loan ..how soon after match rate?
Just don't sign any of the loan docs from DCU and they will cancel within 3 to 5 days (at least, what happened to me).
 
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Plasmid_Boy

Member
Feb 13, 2020
276
198
Indiana
Just wanted to update.. I did get Tesla match to match 1.24% today ! so its still valid that Tesla match Rate.

Thanks for all the help here.

Wanted to know when did you guys cancel DCU loan ..how soon after match rate?
Thanks! Good to know for my next car. Wonder why they didn’t give me the option of rate matching. Maybe I talked to the wrong people at [email protected] ?
 
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Peekabooo

Member
Aug 24, 2021
38
12
Hawaii
Just wanted to update.. I did get Tesla match to match 1.24% today ! so its still valid that Tesla match Rate.

Thanks for all the help here.

Wanted to know when did you guys cancel DCU loan ..how soon after match rate?
Very good to know. I emailed them about 14 hours ago. My delivery date is tomorrow, don’t know if I’m able to make it. How long does it take for them to get back to you?
 
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Peekabooo

Member
Aug 24, 2021
38
12
Hawaii
Thanks! Good to know for my next car. Wonder why they didn’t give me the option of rate matching. Maybe I talked to the wrong people at [email protected] ?
Auto finance only do shopping rate, ratematch does the actual work for most people here, but you will need to have a actual lower interest offer in order for them to do anything. There are couple useful feed here and there, if you need more info.
 
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