Exact cost and financing info

[Recumpence]

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

 

[TheRealM3]

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]

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]

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.

 

[Shock-On-T]

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

 

[Recumpence]

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]

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]

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]

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?

 

[Recumpence]

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

 

[MrYenko]

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

I got mine through Jetstream Federal Credit Union, which AFAIK is open to the public.

 

[atlas310]

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

 

[MTBEndodontist]

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]

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]

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

 

[Pkmmte]

$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:

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

 

[Recumpence]

$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

 

[chok]

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

 

[SlicedBr3ad]

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]

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).