Finance Rates
- Thread starter pbfoot
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CheddarChiz
Member
What make and model did you put? They gave me up to $18700 with 3.94% just now, but said it's because I put 2020 Tesla Model 3 Performance which they don't have in the inventory? I got a call from a representative asking for a VIN and the MVPA and she said the rates and price would get better after that.
Thing is I don't have a VIN yet. Do you?
ccpsg
Member
2.39% for 72 months going through BofA, which is a full point lower than Tesla's US Bank arranged lending (which was about 3 weeks ago; I believe rates are probably lower now). I requested a rate match with the BofA approval letter, which was granted without a VIN and I manually had to put in 2020 Model 3 on their app.
ccpsg
Member
I receive a rate discount for my BofA Preferred Rewards tier.
Tesla Rate Match acts quickly. 17 minutes from submittal to full processed on Tesla's end.
are you getting a refund check after the fact? or are they adjusting your loan terms?
ccpsg
Member
Pre-delivery with no VIN assigned yet, so they just adjusted the terms and updated the loan details on the 'Manage' page.
AlanSqB
Dog Chauffeur
Not yet. I just put “Model 3” in the box and it worked.
jmatero
Member
jmatero
Member
I sent them my loan approval and got the following response just now:
"We are unable to determine your qualification for the program without a scheduled delivery date. Please reach back out once scheduled so that we may determine eligibility."
Looked over the terms and conditions again and at the bottom it says "Send proof of your third-party loan approval to [email protected], within seven days of delivery, along with your reservation number (RNXXXXXXX). So with no VIN I'm too early to the party?
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ccpsg
Member
I definitely don't have a VIN, don't have a delivery date, and there's no VIN in source. That said, it does say something to the effect of "Stated date of approval (not more than 30 days prior to, and not more than 7 days post Delivery date)" so I can see how they could push back about the delivery date thing. Luck of the draw based on who you get assigned to? I ordered my car about 5 days after the ones in your signature.
I just got a loan for 2.04% for 72 months with no money down from Navy Federal Credit Union. Tesla had approved me for 3.50 with no money down or 2.99 with 7500 down. I just told my Tesla Agent, let's see if Tesla matches. I don't really care if they do because I do all my banking through NFCU anyway.
Circci
Member
I just picked up my M3 this past weekend, got 60 Months with Bank of America for 2.39% with $1200 down
Financed a new Model 3 standard range with Tesla and I got 3.49% for 72 months with a $3700 down payment through US Bank when I took delivery on 3/7. I normally bank with NFCU so I'm more inclined to shop around for better rates right now.
Local credit union gives 1.74 percent up to 72 months. I think they finance up to something like 95%. Great deal I cant find anything else close to. Unfortunately it’s local only.
is this applicable for new purchases only? Or could I get a low rate when trying to buy used as well?
For anyone in this thread -- if you haven't already make sure to check out the loan spreadsheet.
http://bit.ly/TeslaLoans
We secured 1.99% on my 2020 model X (purchased Dec 2019) and 2.20% on my 2019 model 3 (purchased March 2020). Both allow that rate up to 72 months. Both I ended up having Tesla rate match and ending up with Chase.
http://bit.ly/TeslaLoans
We secured 1.99% on my 2020 model X (purchased Dec 2019) and 2.20% on my 2019 model 3 (purchased March 2020). Both allow that rate up to 72 months. Both I ended up having Tesla rate match and ending up with Chase.
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