Finance Rates

[Murbs]

What are Pepper's rates?

 

[Jays200]

https://www.pepper.com.au/lending/help-centre/getting-started/fees-and-rates

 

[Murbs]

At "from 7.99%", Pepper is about twice the rate of mainstream lenders so clearly a lender of last resort.

 

[meowsers]

At "from 7.99%", Pepper is about twice the rate of mainstream lenders so clearly a lender of last resort.

Pepper and Macquarie have the same Tesla subsidised rate of 4.34%, you have to ask them for this rate and it comes from their Asset Finance Group.

Got this email from them:

"Our Interest rate is 4.34% comparison rate – meaning we do not charge any origination fee, establishment fee or monthly account keeping fees."

[email protected]

 

[EVForeVer]

Does anyone know if you need to chance pepper to get finance or do they contact you for a model 3 order?

 

[one4spl]

Email them via [email protected] with a copy of your order agreement. They will call you.

 

[EVForeVer]

Email them via [email protected] with a copy of your order agreement. They will call you.

Thanks! fingers crossed, seems like a few people here have had a smooth experience.

 

[Brendon]

Dunken in the Tesla Model 3 Australia facebook group posted this

Tesla Model 3 Australia

Peppers just contacted me with this...
"Just thought I’d tell you the good news first, our interest rate has dropped from 4.34% to 3.89% comparison rate."
Anyone can call Pepper Money on 1300 131 572

 

[Hyena]

3.89% is going to be hard to beat.

I was considering Loans.com.au who are offering 4.29%
Clean Green Car Loan - Loans.com.au

 

[Nuclear Fusion]

What is ANZ offering for personal loans?

 

[meowsers]

Dunken in the Tesla Model 3 Australia facebook group posted this

Tesla Model 3 Australia

Peppers just contacted me with this...
"Just thought I’d tell you the good news first, our interest rate has dropped from 4.34% to 3.89% comparison rate."
Anyone can call Pepper Money on 1300 131 572

I wonder if Macquarie will match this rate, given that they are both Tesla financiers and the Tesla website acts as the “universal rate”, and its still at 4.34%. With the last rate change I think it took a little time to update.

 

[Hyena]

I assume Pepper and Macquarie are also ok with an unknown delivery date?

I thought a finance pre-approval would have a time limit, 30 days maybe? And we're still 30+ days out from model 3 deliveries.

 

[thomasw]

What is ANZ offering for personal loans?

They don't do personal car loans. May do a 'personal loan' but obviously high interest

I wonder if Macquarie will match this rate, given that they are both Tesla financiers and the Tesla website acts as the “universal rate”, and its still at 4.34%. With the last rate change I think it took a little time to update.

I am pretty sure I heard on another forum or facebook that they are matching the new 3.8% money pepper rate now.

 

[meowsers]

I assume Pepper and Macquarie are also ok with an unknown delivery date?

I thought a finance pre-approval would have a time limit, 30 days maybe? And we're still 30+ days out from model 3 deliveries.

Macquarie credit approval is good for 90 days, extending it is easy and you just need to verify nothing has changed. No further credit hit is what I was told.

 

[meowsers]

Macquarie have matched pepper and it is now 3.9%

 

[youmi]

I heard Pepper have a 90 day approval window as well

 

[Nuclear Fusion]

I heard Pepper have a 90 day approval window as well

I heard all approvals are signed by Lenny Pepperidge

 

[jaykaye]

I got an SMS from Pepper Money saying the rate has dropped to 3.89% too. Also, pre-approval from Pepper is valid for 90 days. They were very friendly and very quick in approval.

 

[meowsers]

I got an SMS from Pepper Money saying the rate has dropped to 3.89% too.

Because of these changes, I suspect that Tesla must have some agreement with Pepper / Macquarie saying their rate will always be base interest rate + a certain amount of margin. Wonder if we will see another drop if central bank rates drop again as predicted.

 

[Zsik3115]

Because of these changes, I suspect that Tesla must have some agreement with Pepper / Macquarie saying their rate will always be base interest rate + a certain amount of margin. Wonder if we will see another drop if central bank rates drop again as predicted.

I will be truly surprised if rates drop again. Rates are finally starting to affect house prices and amongst other factors, I think this is the lowest rate we will get prior to us getting our Tesla's. 3.89 is an absolute steal - funny to think it's better than some people's residential mortgage rates, haha.

Question - has anybody done a chattel mortgage through Pepper? If so, did they allow PAYG income to be the main source of serviceability?

Cheers