goyogi
Member
The Volt wasn't on the list either when I got mine. Wasn't an issue as they knew it was a 'green' car. They just clicked the checkbox.
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you could try PenFed who offer financing for upto $70,000 for upto 5 years at 1.49% !
PenFed - Auto Loans Overview
You can become a member for a nominal membership fee and a small deposit even without a military affiliation. See my post on an older financing thread earlier:
Are you financing to get the Model S? - Page 5
Got the approval for the loan from PenFed a couple of days ago for 1.49% for 60 months. I was able to give them the pre-delivery MVPA and indicated the amount I wanted to finance. They simply need the VIN number now for disbursal. The loan's locked in for 90 days so, hopefully, I'll get my delivery notification sometime in November/early December.
It was a smooth process, all done online and by email.
You west coasters are so lucky. A good rate and they actually care about EVs. Anyone find anything decent on the East coast? Not that I want to carry another note, but if there's a great deal, why not.
PenFed IS on the east coast. I've used them before and expecting to again for this purchase.
So for PenFed all you need to do is join Voices for American Troops for $15?
Correct. That's what I did. And, put in the nominal minimum balance of $5 to be a PenFed member.
Yes, AO, no left coast affinity going on there.
Got the approval for the loan from PenFed a couple of days ago for 1.49% for 60 months. I was able to give them the pre-delivery MVPA and indicated the amount I wanted to finance. They simply need the VIN number now for disbursal. The loan's locked in for 90 days so, hopefully, I'll get my delivery notification sometime in November/early December.
It was a smooth process, all done online and by email.
I don't get it....I applied with PenFed for a $70K loan, and they quoted me 3.49%, exactly the same rate I got from Wells Fargo. Excellent credit score and almost 40% down! What am I doing wrong?
It goes to 3.49 the longer the term is. I think 60 months is the cap on 1.49 isn't it?
Correct. And, can finance upto $70k at those terms - total interest paid over 5 years on that principal is just about $2.7k.
Also, this rate is online-only; they seem to suggest that applying by other means could net a higher rate.
It goes to 3.49 the longer the term is. I think 60 months is the cap on 1.49 isn't it?
FYI, I received an approved $90K loan for the Model S from USAA at 1.45%. You have to be a member but for those of you that are, I highly recommend it!
FYI, I received an approved $90K loan for the Model S from USAA at 1.45%. You have to be a member but for those of you that are, I highly recommend it!
Am a USAA member so checked their site today out of curiosity. The 1.45% is for up to 36 months term. Looks like PenFed is a better deal for those who want 60 months at 1.49% to lower their payments, and don't mind their lower $70K max loan amount.
ElSupreme: Were you quoted those rates over the phone, or did you see them on the site?
That 0.5% discount is when you purchase used (0.25% new) through the USAA "Car Buying Service", according to the website. You can't buy Model S through USAA since Tesla doesn't have a traditional dealership sales model. Tesla company stores would need to become "USAA Certified Dealers" to make this a reality.
technically true about the online only, but i actually called them and they gave me the lower rate anyway when i had some questions not easily answered in the online bit. The lady's comment was along the lines of "we tend to waive that for new customers".