Finance Rates

[Nuclear Fusion]

Thread to post your rates & institutions
Got 5.25% comparative rate from Esanda/ANZ on the X last year

 

[Nuclear Fusion]

Just saw Macquarie are now offering a very competitive 4.34%
7 year loan - I wonder what their 5 year rate is
Weren’t this competitive last year

 

[paulp]

Thread to post your rates & institutions
Got 5.25% comparative rate from Esanda/ANZ on the X last year

They saw you coming! Expensive.

 

[EcoCloudIT]

They saw you coming! Expensive.

Agreed, got 4.99% years ago on S, 4.59% on X not long ago....

Just saw Macquarie are now offering a very competitive 4.34%
7 year loan - I wonder what their 5 year rate is
Weren’t this competitive last year

That looks very good! Where did you find that published?

 

[paulp]

Agreed, got 4.99% years ago on S, 4.59% on X not long ago....



That looks very good! Where did you find that published?

That institution offered low 3’s on chattel mortgages last year, so probably extremely low 3’s now.

 

[Nuclear Fusion]

They saw you coming! Expensive.

Even brokers couldn’t get that rate. Maybe cause it was pre-owned

 

[Nuclear Fusion]

That looks very good! Where did you find that published?

Tesla Loan Calculator
Loan solutions designed to fit you | Pepper Money

 

[paulp]

Even brokers couldn’t get that rate. Maybe cause it was pre-owned

I know what I got and it was low 3’s. No luck involved either....but you do have to do a bit of work to find good rates.
I’ve done a load of commercial loans over the years, brokers have never achieved the rates I can by going direct to institutions where I have an existing relationship.

 

[Nuclear Fusion]

Thread to post your rates & institutions
Got 5.25% comparative rate from Esanda/ANZ on the X last year

Tesla Loan Calculator
Loan solutions designed to fit you | Pepper Money

ANZ/Esanda have told me my rate was 4.65% + the establishment & monthly fees
Anyway, ANZ have quoted me 3.79% for the Model 3, with a tick under $400 establishment fee & no monthly fees. 5 years no residual
Now to play them off each other!

 

[MichaelVorst]

Are these loan-only rates everyone is posting?

I got a novated lease quote for SR+ $71k today @ $700 / fortnight, assuming $20K residual to pay after 5 years, 7.6% interest (rate seems high).

They had added $1800/year for insurance (I've seen $1400 quoted here) and $760/year for maintenance/tyres, but even after deducting all the tax savings, it still works out a lot cheaper ($4k / year) to just redraw the $$ from a home loan.

For me to lease it means paying the same total amount over 5 years as a cash purchase funded from a redraw, but having to hand back the car after 5 years (losing any resale value), or paying $20k to own it.

I can't see why anyone with access to a home-loan redraw would do a novated lease, although I guess that driving a similarly-priced fossil car would cost nearly that much extra in gas and fossil maintenance costs, which would make it more competitive against a home loan redraw to lease such cars.

 

[EcoCloudIT]

Are these loan-only rates everyone is posting?

I got a novated lease quote for SR+ $71k today @ $700 / fortnight, assuming $20K residual to pay after 5 years, 7.6% interest (rate seems high).

They had added $1800/year for insurance (I've seen $1400 quoted here) and $760/year for maintenance/tyres, but even after deducting all the tax savings, it still works out a lot cheaper ($4k / year) to just redraw the $$ from a home loan.

For me to lease it means paying the same total amount over 5 years as a cash purchase funded from a redraw, but having to hand back the car after 5 years (losing any resale value), or paying $20k to own it.

I can't see why anyone with access to a home-loan redraw would do a novated lease, although I guess that driving a similarly-priced fossil car would cost nearly that much extra in gas and fossil maintenance costs, which would make it more competitive against a home loan redraw to lease such cars.

You are going to pay $91,014 over 5 years and then still owe $20,000! That would have to be the worst deal I've read in a LONG time.

 

[Nuclear Fusion]

Are these loan-only rates everyone is posting?

I got a novated lease quote for SR+ $71k today @ $700 / fortnight, assuming $20K residual to pay after 5 years, 7.6% interest (rate seems high).

They had added $1800/year for insurance (I've seen $1400 quoted here) and $760/year for maintenance/tyres, but even after deducting all the tax savings, it still works out a lot cheaper ($4k / year) to just redraw the $$ from a home loan.

For me to lease it means paying the same total amount over 5 years as a cash purchase funded from a redraw, but having to hand back the car after 5 years (losing any resale value), or paying $20k to own it.

I can't see why anyone with access to a home-loan redraw would do a novated lease, although I guess that driving a similarly-priced fossil car would cost nearly that much extra in gas and fossil maintenance costs, which would make it more competitive against a home loan redraw to lease such cars.

Home loan redraw makes sense only if you are disciplined enough to repay it in the same time period that you would have given a car loan eg: 5 years.

 

[Saoirse]

This is the only bit of information I could see thus far for Macquarie & the Uuky interest rate cut, its related to variable home loans, but it looks as though Macquarie is passing on .20% to 3.44%
Applies from 18/7/19
We can hope to see the same for our loans.. (hope being the key word here..)

Interest rate cut: ANZ, Westpac, CBA & NAB mortgage rates lower | Canstar

 

[Nuclear Fusion]

This is the only bit of information I could see thus far for Macquarie & the Uuky interest rate cut, its related to variable home loans, but it looks as though Macquarie is passing on .20% to 3.44%
Applies from 18/7/19
We can hope to see the same for our loans.. (hope being the key word here..)

Interest rate cut: ANZ, Westpac, CBA & NAB mortgage rates lower | Canstar

ANZ quoted me 3.79% before the rate cut, so I’ll expect even better

 

[one4spl]

Why is Telsa's comparison rate 4.34% when Pepper Money list 9.9% on their site...?

 

[mmui90]

Why is Telsa's comparison rate 4.34% when Pepper Money list 9.9% on their site...?

Exclusive partnership rate that Tesla has with either Pepper or Macquarie.

 

[Momentum1]

Fixed 5Yrs with 30% Balloon at 4.29% which includes reduction of 0.7% for a Green Car.

 

[Shock-On-T]

Fixed 5Yrs with 30% Balloon at 4.29% which includes reduction of 0.7% for a Green Car.

A finance company doesn’t care if the car is green, it’s just a marketing technique. They certainly aren’t getting any incentive from government or some philanthropist.
They are happy to do the loan at 4.29%. The 0.7% is just a fake markup.
You can probably do better than 4.29%, and I wouldn’t like doing business with company that plays that kind of game.

 

[Hyena]

You can probably do better than 4.29%, and I wouldn’t like doing business with company that plays that kind of game.

Got any evidence of rates better than that?

I've tried banks, brokers and care dealer finance and no one seems to be able to beat that rate for a consumer loan.

Only a business asset loan is going to beat that.

 

[paulp]

Got any evidence of rates better than that?

I've tried banks, brokers and care dealer finance and no one seems to be able to beat that rate for a consumer loan.

Only a business asset loan is going to beat that.

You will get better rates if you have a relationship such as repeat regular business or other substantial business with the financier. I can’t supply the proof you want as its commercial in confidence. Timing is another important factor, as is their risk level assesment of the borrower.