Do you have a contact over at Bank of America or did you just call their loan number on the website?
Thanks in advance!
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- Thread starter chmod a+wrx
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Do you have a contact over at Bank of America or did you just call their loan number on the website?
Thanks in advance!
Check the email Tesla sent you with a title of "Ready to build your Model S". The purchase agreement (pdf format) should be attached to that email. At least in my case it was.
Never got an email with that title. My most recent email title was "your model s is headed to production". Prior to that I got "your model s is almost here". That one I apparently received in error.
FYI, PenFed is offering 1.29% for 100% financing for up to 48 months. After 48 rate jumps to 1.79%.
PenFed - Auto Loans Overview
PenFed - Auto Loans Overview
I just applied online and was instantly approved. I called the loan help number just to see if I could get the approval extended and I got a very helpful person. Perhaps I just got lucky.
Thanks for the info!
I'm going to try that since I too have checking and credit cards with them.
bluefuego
Member
My husband and I own our own business.. since we do pay ourselves, we were able to provide the pay stubs, but we also had to provide Alliant with the last two years of our personal and business returns to show the distributions that we take in addition to our salaried income. No problems.. just takes underwriters longer.
The guy I talked to (Nick) is out for 2 weeks. Cindy Gonzalez is covering for him and is also very helpful. You can reach her at 1-800-721-9654 ext: 4281783
Technically, it's a tax credit not a deduction (credits are way better). If you want to "get" the money sooner, you can go to HR at your job and ask to update your W-4 for 2013 and increase the number of allowances which will reduce the withholding from your paycheck. IRS website has a calculator you can use to help figure out what to change your allowances to ---- http://www.irs.gov/Individuals/IRS-Withholding-Calculator
USAlliance has a better rate than anyone out there for the Model S
USAlliance FCU is offering 1.39% for up to 60-months and 1.89% for 72 and 84-month terms. They have up to 120% financing and offer GAP. Call them at 1-800-431-2754. Ask for Jon K. in the EV financing area.
USAlliance FCU is offering 1.39% for up to 60-months and 1.89% for 72 and 84-month terms. They have up to 120% financing and offer GAP. Call them at 1-800-431-2754. Ask for Jon K. in the EV financing area.
Are there any other banks/credit unions that offer 84 month terms with good rates (under 2%)?
TeslaSinHR
Member
I applied for the 1.49% auto loan financing through Alliant Credit Union but it was not as fast as others seemed to have indicated. Probably because I live in Oregon, am self-employed and hit some technical and timing glitches. Give yourselves at about 2 weeks to be safe. Here was my timeline.
Fri 6/14 - call loan consultant, instructed to open an account. Followed directions to open account online. Since I didn't qualify in any of the "pre-approved" categories to become a member, I made a donation to the Foster Kids. Got a message that my account could not be opened and that a customer service rep would contact me in a few days.
Mon 6/17 - I called Alliant asking about my account, it was under review and the rep I talked to looked up my application and sent me email asking for additional identification before my account could be opened. Made copies and faxed the information back to them. No idea how long it would have taken if I hadn't called them.
Wed 6/19 - Received email that I am now a member of Alliant Credit Union. Look for a packet in the mail with my account info, etc (This didn't arrive until Mon 6/24 - but it didn't block me). Called loan consultant to get started on the application.
Thr 6/20 - Loan application starts. Get a phone call and give information about my income and debts. I wasn't at home when I got the call so I gave information from memory. Later that day I get an email asking for documentation of my business and investment income and copies of 2012 tax return. I thought I would be clever and send everything as scanned PDFs. Alliant doesn't have a secure portal for me to upload the documents. Then I figure I'll put them in a password protected ZIP file and email it. But my mail server would allow an attachment over 10 MB so I had to spend more time breaking into smaller pieces that I could email individually.
Mon 6/24 - Confirmation that the documents were received (the loan consultant had left early on Friday). They can't open zip files from their desktop so it had to be sent to their systems department to open and print, then it was sent to the underwriter. Got an email later in the day to call the loan officer but I was unable to until today.
Tues 6/25 - Approved for 1.49% for 72 months for 90% of the car value. Contacted my Tesla delivery specialist instructing him to call Alliant confirming the loan amount, then Alliant will overnight a check to me. Should be enough time for me to get it by Friday.
(Future) Sat 6/29 - Pick up my multi-coat red Tesla Model S!!!!! and immediately drop it off at a body shop to have "full burial(?)" Xpel paint protection applied.
Fri 6/14 - call loan consultant, instructed to open an account. Followed directions to open account online. Since I didn't qualify in any of the "pre-approved" categories to become a member, I made a donation to the Foster Kids. Got a message that my account could not be opened and that a customer service rep would contact me in a few days.
Mon 6/17 - I called Alliant asking about my account, it was under review and the rep I talked to looked up my application and sent me email asking for additional identification before my account could be opened. Made copies and faxed the information back to them. No idea how long it would have taken if I hadn't called them.
Wed 6/19 - Received email that I am now a member of Alliant Credit Union. Look for a packet in the mail with my account info, etc (This didn't arrive until Mon 6/24 - but it didn't block me). Called loan consultant to get started on the application.
Thr 6/20 - Loan application starts. Get a phone call and give information about my income and debts. I wasn't at home when I got the call so I gave information from memory. Later that day I get an email asking for documentation of my business and investment income and copies of 2012 tax return. I thought I would be clever and send everything as scanned PDFs. Alliant doesn't have a secure portal for me to upload the documents. Then I figure I'll put them in a password protected ZIP file and email it. But my mail server would allow an attachment over 10 MB so I had to spend more time breaking into smaller pieces that I could email individually.
Mon 6/24 - Confirmation that the documents were received (the loan consultant had left early on Friday). They can't open zip files from their desktop so it had to be sent to their systems department to open and print, then it was sent to the underwriter. Got an email later in the day to call the loan officer but I was unable to until today.
Tues 6/25 - Approved for 1.49% for 72 months for 90% of the car value. Contacted my Tesla delivery specialist instructing him to call Alliant confirming the loan amount, then Alliant will overnight a check to me. Should be enough time for me to get it by Friday.
(Future) Sat 6/29 - Pick up my multi-coat red Tesla Model S!!!!! and immediately drop it off at a body shop to have "full burial(?)" Xpel paint protection applied.
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