Financing options

[TurboZo]

I still have a few weeks before my care comes in, so I figured I would line up financing as for some it seems to take a couple weeks. I called US Alliance and spoke with Jon K., 800.431.2754 ext. 2319 for those that are interested. He immediately took my information down and sent it off to UW. The whole conversation lasted about 30 minutes. The next morning, my loan was approved and it was simply a matter of sending in the normal paperwork to complete the loan. The service was unbelievably quick and easy. I was offered the 1.39% for 60mo, 72mo, and 84mo.

I plan on keeping the car for a while, so the buyback guarantee wasn't as appealing to me. I'm still amazed at how organized and speedy they are at US Alliance. By far one of my easiest loans to date.

I called Alliance today and couldn't get a hold of Jon K (The extension didn't work as well). The representative I spoke with said there are no special incentives for EVs and the best rate they quoted was 2.99%.

Anyone else have a recent experience with Alliance?

Thanks.

 

[JPP]

My Alliant rep was Nicole (773-462-2041). She has done a bunch of Tesla Model S. There is no special incentive but they have really great rates. YMMV.

 

[phat78boy]

I called Alliance today and couldn't get a hold of Jon K (The extension didn't work as well). The representative I spoke with said there are no special incentives for EVs and the best rate they quoted was 2.99%.

Anyone else have a recent experience with Alliance?

Thanks.

I have been corresponding with him via email to finish up my financing. You can contact him at [email protected] .

 

[Colasec]

Heads up: if you're going with Tesla Financing, when you've reaching the Final Payment step and are filling out the form, make sure that the pre-populated "amount to finance" reflects the amount of the loan offer that you want to accept.

I negotiated a bit with Tesla Financing and got three distinct offers. On my Final Payment form, the pre-populated value matched the original offer, not the offer that I want to accept. I called to clarify - the Product Specialist confirmed that if I had continued and had submitted the form, my financing would have used the wrong offer and it would have been difficult for me to get the loan that I thought I was getting. He said that he'd need to change it on their end and would get back to me.

I haven't heard anything more yet - just make sure that you double-check that the amount in the form matches that of the offer that you want.

 

[JonK@USAlliance]

An update on the promotion...the Tesla promo was not advertised on our website, our branches or through our staff at USAlliance. We have since made them aware of this promotion in case they receive any calls or inquiries. Most calls will be transferred directly to me. Thanks for highlighting this service deficiency so we could promptly correct.

- - - Updated - - -

I have been corresponding with him via email to finish up my financing. You can contact him at [email protected] .

Please see my post below...we have since updated all staff with the program information. If you should need anything, please contact me directly at 978-833-1962. Thanks.

 

[HHHH]

I called Alliance today and couldn't get a hold of Jon K (The extension didn't work as well). The representative I spoke with said there are no special incentives for EVs and the best rate they quoted was 2.99%.

Anyone else have a recent experience with Alliance?

Thanks.

I talked to my rep, Matt Z yesterday, I was offered 1.74% for 72. I went with wells for the residual guarantee though, put some more down and went 60 months.

 

[earlyretirement]

I didn't read all the other posts but I thought I'd post about my experience last week. I don't typically use Credit Unions at all. I just use traditional banks and I haven't had a car loan in a long time as I usually just buy my cars outright. But with interest rates this low I figure it was silly not to get a loan.

I read on the main Tesla website forum about Alliant Credit Union. Alliant Credit Union

I signed up and it was super quick. I was amazed how quick everything was. I signed up online for an account and I literally had my checkbook and ATM card within a few days. I went on their website on a Sunday night to fill out the credit card application. It asked how much I was interested in. I put $100k. The next morning on Monday, Andy V. with Alliant emailed me. He said they received my application and he said they just needed my last 2 years tax returns. I had them online on my Box.com account so I forwarded him the last 2 years tax returns with all the schedules, which he requested.

Within 2 HOURS he said I was all approved. I was blown away how quick the process was. Anyway, I thought the process would have taken a week or 2. My car isn't done until the end of August and the downside is that he said the offer is only good for 30 days. He said I won't have a problem if it's after 30 days but they check your credit report again so I think your FICO may get dinged a bit from 2 checks. He said it was only 1.49% for either a 60 OR 72 month loan. He said the only condition was that I put at least 10% down and the maximum loan was for $100,000. I didn't check if I could go higher. With TTL mine is over $117,000 but I'll just pay the $17,000 and then get the 1.49% financing through Alliant.

I'd HIGHLY recommend Alliant based on my experience with them and also how low their APR is.

 

[gmtom1]

FYI, if you're considering the Tesla financing through TechCU, the 84 month term requires 20% down.

 

[DaveT]

FYI, if you're considering the Tesla financing through TechCU, the 84 month term requires 20% down.

What is TechCU's interest rate for a 84 month term?

 

[gmtom1]

What is TechCU's interest rate for a 84 month term?

Rate varies based on your credit, but all terms start at 1.99%

 

[TurboZo]

I didn't read all the other posts but I thought I'd post about my experience last week. I don't typically use Credit Unions at all. I just use traditional banks and I haven't had a car loan in a long time as I usually just buy my cars outright. But with interest rates this low I figure it was silly not to get a loan.

I read on the main Tesla website forum about Alliant Credit Union. Alliant Credit Union

I signed up and it was super quick. I was amazed how quick everything was. I signed up online for an account and I literally had my checkbook and ATM card within a few days. I went on their website on a Sunday night to fill out the credit card application. It asked how much I was interested in. I put $100k. The next morning on Monday, Andy V. with Alliant emailed me. He said they received my application and he said they just needed my last 2 years tax returns. I had them online on my Box.com account so I forwarded him the last 2 years tax returns with all the schedules, which he requested.

Within 2 HOURS he said I was all approved. I was blown away how quick the process was. Anyway, I thought the process would have taken a week or 2. My car isn't done until the end of August and the downside is that he said the offer is only good for 30 days. He said I won't have a problem if it's after 30 days but they check your credit report again so I think your FICO may get dinged a bit from 2 checks. He said it was only 1.49% for either a 60 OR 72 month loan. He said the only condition was that I put at least 10% down and the maximum loan was for $100,000. I didn't check if I could go higher. With TTL mine is over $117,000 but I'll just pay the $17,000 and then get the 1.49% financing through Alliant.

I'd HIGHLY recommend Alliant based on my experience with them and also how low their APR is.

How did you qualify for membership? I don't live in Chicago or work for one of the companies they list.

 

[HHHH]

How did you qualify for membership? I don't live in Chicago or work for one of the companies they list.

I believe I made a $10 donation to fallen soldiers or something, follow the prompts on their website, it says something like, "other ways to join"

 

[TurboZo]

Thanks. I just joined. I needed to donate $10 to a Foster Care Program. Don't mind that at all, good cause.

 

[HHHH]

Thanks. I just joined. I needed to donate $10 to a Foster Care Program. Don't mind that at all, good cause.

I think you'll have a good experience with them based on everyone else's experiences so far.

 

[TurboZo]

I think you'll have a good experience with them based on everyone else's experiences so far.

Hopefully. I'm still waiting to hear back from them. I applied early this morning.

 

[HHHH]

Hopefully. I'm still waiting to hear back from them. I applied early this morning.

They should get back to your later today or tomorrow. Remember they're a couple hours ahead.

 

[JPP]

Alliant CU was great for me--fast, painless, 1.49% 72 months with 70% LTV. My rep was Nicole (773-462-2041).

 

[TurboZo]

I emailed Jon at Alliance. He is very responsive. Will talk to him tomorrow. Seems like there is a special for EVs they are offering. Advertised rate is 1.39 for 60 mo, 1.89 for 84.

 

[DCinDC]

Based on an earlier message in this thread, I went with Jason Freese @ Alliant. Looked at a couple of local credit unions, but nobody could come close to the low rate + ease of Alliant. My credit union was willing to match the rate, but needed several stipulations (maintain a savings account w/ a specific balance, do autopay, etc). Alliant was AWESOME, fast, and knew all things Tesla. 72 months @ 1.49%

 

[AmpedRealtor]

Here's another vote for Jon Krumdick at US Alliance. Alliant qualified me only up to $80k, but Jon at US Alliance qualified me up to $105,000. I will go with US Alliance because I prefer to keep that extra cash invested to provide a greater return than the 1.8% interest I'm paying.