It was 3.5% before and then it went down to 3.25% and it's 2.99% now.
Wonder if it will ever go down to 2.5%?
Wonder if it will ever go down to 2.5%?
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Finance Rate Went Down
- Thread starter obana1990
- Start date
KRG21
Member
NY_Rob
Member
Saw that this morning... which means you can do better by other lenders.
Tesla was 4.5% two weeks ago where the local Credit union was 3.09% at that time.
Funny thing is... Tesla has lowered rates twice in 10 days.. the Credit Union is still at 3.09% for new auto loans
Tesla was 4.5% two weeks ago where the local Credit union was 3.09% at that time.
Funny thing is... Tesla has lowered rates twice in 10 days.. the Credit Union is still at 3.09% for new auto loans
I was told by my financial advisor that the fed is meeting March 18, and will likely lower rates. I am waiting as long as possible to get a loan. Should be adjusted by March 19th.
The Fed - Meeting calendars and information
The Fed - Meeting calendars and information
do you mean the rates through Tesla Arranged Loans? Or are you referring to 3rd party lenders?
In Michigan, local CUs are giving me 3.25% @ 60, and Tesla only gave me 3.5% @ 72! Best I've been able to find so far is through Bank of American with 3.09% @ 60. (This was all yesterday's quotes)
If Tesla is dropping their rates significantly more in step with Fed lowering rates (vs 3rd party lenders), it might definitely be worth holding out....
From Tesla.
You can't do it now but before I go into my account and click edit design and see the rate dropped to 2.99%.
PDACPA
Member
It shows 2.99% on ordering a new model y on my end.
Not sure if it has anything to do with location or new vs used.
lowest i've seen from local southern California credit unions is 2.74%.
If what poster said above regarding further loan rate drop today March 18, then hopefully is true.
Ordered model Y about 10 days ago and screen changed today to add information regarding delivery, however I want to hold off to get best financing deal. All GM vehicles are at 0% financing 72 months, some Ford vehicles are at 0% financing 60 months. Hoping to get similar deal. Maybe get a Chevy bolt EV with 0% financing as a cheap commuter while waiting for cybertruck.
If what poster said above regarding further loan rate drop today March 18, then hopefully is true.
Ordered model Y about 10 days ago and screen changed today to add information regarding delivery, however I want to hold off to get best financing deal. All GM vehicles are at 0% financing 72 months, some Ford vehicles are at 0% financing 60 months. Hoping to get similar deal. Maybe get a Chevy bolt EV with 0% financing as a cheap commuter while waiting for cybertruck.
NY_Rob
Member
DennyL
Member
Tesla came back through Wells Fargo @ 3.25% 72 months and hard credit pulled. I am getting 2.69% 60 months with Bank of America. My credit is over 780 and debt to ratio is very very low. Is it possible to ask why my rate is higher than the website 2.99?
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DennyL
Member
Loan estimate or did you actually applied for the loan and credit pulled?
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Same here, Tesla approved my loan @ 3.25% for 60 months. I believe that if you get approved somewhere else with a lower rate, you can ask for a Match from Tesla (however, will it be 2nd hit on your Credit report ?)
