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Exact cost and financing info

Discussion in 'Model 3: Ordering, Production, Delivery' started by Recumpence, Apr 6, 2018.

  1. Recumpence

    Recumpence Member

    Joined:
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    Location:
    Chicago, IL
    For those newcomers who are curious about the numbers, I have my financing arranged and I wanted to share the exact cost for me;

    Car cost $56,000 (long range, PUP, AAP, white color, standard wheels).

    $1,000 deposit paid 3-31-16
    $2,500 order payment paid 2-22-18 when the car was configured
    $6,710 required at signing/delivery
    $771 payment for 72 months at 3.24% interest

    Not cheap for sure. But, the roughly $10k I have cumulatively put down is in line with my exhortations as is the monthly payment. The only real surprise wad my insurance. I have American Family and I was assured $134 per month. That is, far and away, the highest I will have ever paid, and I have a good driving record, 4 cars insured with them, as well as two houses and my business insured with them. So, I have multi-policy discount. That being said, this car is twice the cost of my previous car and only 45% higher insurance. So, I guess it is not terrible.

    Matt
     
    • Informative x 1
  2. TheRealM3

    TheRealM3 Member

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    I just received same 3.24% quote through Tesla > Chase. I am waiting for TechCU's quote. My insurance quote was about $1,100 ($91/m), about $200 higher than other vehicles. Not too bad.
     
  3. DurandalAI

    DurandalAI Member

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    The amount required at signing is much higher than I would have expected. I would have thought that the total down payment would be roughly 10%. Does that amount include registration/sales tax?
     
  4. MrYenko

    MrYenko Member

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    I know that retail rates are starting to rise, but I feel like you guys should be able to find something better than three and a quarter. I went through my credit union and got 1.99 for up to 72 months, with nothing down. I went with a shorter term and put some cash down up front, but I was surprised they offered that rate for that long. My OTHER credit union wanted 2.7 for a 60mo, and 2.9 for a 72mo.

    Even if you take the more expensive loan, shop around and refinance it. You can find a better deal, unless your credit is the issue.
     
  5. ShockOnT

    ShockOnT ⚡️⚡️⚡️⚡️⚡️

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    Looks like your insurance company is taking advantage of you.
    You should try shopping around rather than bundling.
     
  6. Recumpence

    Recumpence Member

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    American Family Insurance. I called them a few minutes ago to complain about it. I have a business two houses and four cars insured with them. I told them that they are going to give me a better price or I take all of my business elsewhere. We'll see how it goes. I don't have any accidents or tickets against my record and I'm 46 years old. They should be able to do far better than $134 per month.
     
  7. SlicedBr3ad

    SlicedBr3ad Member

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    I'm around South Florida. Can you share cu details for loan? How to get in? Etc
     
  8. 03DSG

    03DSG Active Member

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    Thanks, interesting. The $6710 at signing? Tax? Is there a minimum down payment at signing above the $1000 and $2500 ($3500) already paid?
     
  9. SlicedBr3ad

    SlicedBr3ad Member

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    You're missing doc/delivery fee and taxes, registration. Could you add that into your post?
     
  10. Recumpence

    Recumpence Member

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    I will post a screenshot when I am back at the office.
     
  11. MrYenko

    MrYenko Member

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    I got mine through Jetstream Federal Credit Union, which AFAIK is open to the public.
     
    • Love x 1
  12. atlas310

    atlas310 Member

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    The loan program I'm going through requires 15% down. Which comes out to roughly $9.1k.
     
  13. sayulita

    sayulita Member

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    I went through Tesla financing got 2.99 for 72 months. I didn't like the rate, and shopped around. The lowest I could find in SoCal was 2.3 for 72 months or 1.89 for 36 months with California Credit Union. If anyone else finds a better deal, please let us know. Thanks!
     
  14. juanmedina

    juanmedina Active Member

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    USAA's rate for 72 months is 3.29% really crappy.... I hope I can find something good when I order mine.
     
  15. bt3k

    bt3k Member

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    FPCU 1.99 60 months
     
    • Like x 1
  16. Pkmmte

    Pkmmte Le meow

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    $134 per month for 4 cars?! Man, I'd love to pay that little. I shopped around extensively and this is the best deal I was able to find:

    best deal for me.png

    Perfect driving record, high deductible, and relatively low coverage. Only issue is my age.
     
  17. Recumpence

    Recumpence Member

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    I was quoted $134 per month for the Tesla only (even though I have 4 cars insured with them). I called them and threatened to leave and they cut my total insurance for all of my cars in half! Wow, complaining really works! I am going from over $400 per month for 4 cars down to $196! I cannot believe it!

    Oh, here is more detail of costs for my car;

    Car $56,000
    Initial reservation payment $1,000
    Configuration payment $2,500
    Remaining amount due at signing $6,710 ($2,100 to complete the 10% down payment and $4,610 to cover tax and fees).

    Matt
     
    • Like x 2
    • Love x 2
  18. chok

    chok Member

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    Can you change from cash to tesla finance? I received my delivery paper work to reign and page to submit payment ?
     
  19. SlicedBr3ad

    SlicedBr3ad Member

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    Thank you for following through on the info!
     
  20. atlas310

    atlas310 Member

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    I would have thought the 10% down payment would have been a total of $6,061. 10% of ($56,000 + $4,610).
     

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