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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!
 
I got a DCU referral but found out I didn’t need one to apply. The referral just gives the member a $10 kickback and the new member a $20 kick back. They’ll ask how do you qualify and there is not one for friends referral. if you pick the one that says family, then they will ask you for the name of the family member. I had to donate to an organization “the school one” for $10. Trust me, the referral does nothing but give kickbacks.

I’m still in the application portion of getting a checking acct. the site is so not user friendly. But rate can’t be beat. I was approved for 1.74% for 65 months. If I sign up for direct deposit it’ll be another.5%. Sign up sooner rather than later bc they require that you go through several deposits before giving you the .5%. Be warned.
When I spoke with them they said they just assume you will do it and give you the .5 off. You have 90 days to move your dd over and if you don't then they add the .5 back
 
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What loan length did you use if you don't mind me asking.

They had you open a membership at dcu correct? Are you going to cancel it?
To get the best rate with DCU, you have to do their 65 month term. That plus direct deposit plus the EV deduction brings the rate down to 1.24%. I was able to rate match that to Tesla and do 1.24% for 72 months (Tesla doesn't offer a 65 month term, only 60 or 72).

Yes, I opened a membership by donating $10 to one of their organizations and a $5 deposit to open the savings account. Not sure yet what I'm going to do with the membership.
 
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To get the best rate with DCU, you have to do their 65 month term. That plus direct deposit plus the EV deduction brings the rate down to 1.24%. I was able to rate match that to Tesla and do 1.24% for 72 months (Tesla doesn't offer a 65 month term, only 60 or 72).

Yes, I opened a membership by donating $10 to one of their organizations and a $5 deposit to open the savings account. Not sure yet what I'm going to do with the membership.
Oh so that's how ppl get 72 months! Okay I got 65 approved too.
 
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Oh so that's how ppl get 72 months! Okay I got 65 approved too.
Yea I think that's the least clear part. Tesla doesn't offer a 65 month loan so in order to properly rate match, it has to be matched up to the 72 month term. I just specified that when I sent the email into [email protected]. No complaints from them.
 
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Yea I think that's the least clear part. Tesla doesn't offer a 65 month loan so in order to properly rate match, it has to be matched up to the 72 month term. I just specified that when I sent the email into [email protected]. No complaints from them.
Thanks for the help. Did you send them the docusign stuff?

Here is where I'm at

I started my myp order thinking I was gonna use usaa so I have them on third party financing. Then I found out about dcu so I applied, got approved, opened the account and now I am pretty much stuck waiting for my vin before anything else can happen.

I'm wondering, should I call tesla and switch the third party finance to dcu? Or to tesla? Not really sure how to proceed
 
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pcmike

Member
Jan 1, 2020
280
239
Florida
Thanks for the help. Did you send them the docusign stuff?

Here is where I'm at

I started my myp order thinking I was gonna use usaa so I have them on third party financing. Then I found out about dcu so I applied, got approved, opened the account and now I am pretty much stuck waiting for my vin before anything else can happen.

I'm wondering, should I call tesla and switch the third party finance to dcu? Or to tesla? Not really sure how to proceed
Switch it to DCU, but you’ll need to wait till you get a VIN before you’ll be able to download the proper MVPA that lists the VIN AND has DCU listed with an amount financed.
 
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