Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.
Register

Exact cost and financing info

Recumpence

Member
Mar 25, 2018
52
103
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
Reactions: tracksyde

TheRealM3

Member
Mar 22, 2018
45
79
Morris County, NJ
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.
 

DurandalAI

Member
Dec 20, 2016
962
2,912
US
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?
 

MrYenko

Member
Mar 31, 2018
54
67
Fort Lauderdale
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.
 

ShockOnT

⚡️⚡️⚡️⚡️⚡️
Jun 26, 2016
3,404
3,093
Sydney
Looks like your insurance company is taking advantage of you.
You should try shopping around rather than bundling.
 

Recumpence

Member
Mar 25, 2018
52
103
Chicago, IL
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.
 

SlicedBr3ad

Member
Feb 25, 2017
922
828
Fl
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.

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

03DSG

Active Member
Apr 5, 2016
2,151
2,458
Ontario
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

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

SlicedBr3ad

Member
Feb 25, 2017
922
828
Fl
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
You're missing doc/delivery fee and taxes, registration. Could you add that into your post?
 

sayulita

Member
Aug 7, 2017
14
7
los angeles
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!
 

juanmedina

Active Member
Mar 31, 2016
2,281
5,946
SC
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!

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

bt3k

Member
Mar 14, 2018
23
28
SoCal
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!

FPCU 1.99 60 months
 
  • Like
Reactions: sayulita

Pkmmte

Le meow
Sep 19, 2017
694
1,181
Los Angeles, California
$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.
 

Recumpence

Member
Mar 25, 2018
52
103
Chicago, IL
$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:

View attachment 292315

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

SlicedBr3ad

Member
Feb 25, 2017
922
828
Fl
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
Thank you for following through on the info!
 

atlas310

Member
Apr 1, 2016
218
80
Los Angeles
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
I would have thought the 10% down payment would have been a total of $6,061. 10% of ($56,000 + $4,610).
 

Products we're discussing on TMC...

About Us

Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.

Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.


SUPPORT TMC
Top