Financing options

[DJ Frustration]

FYI, I just noticed that Pentagon Federal Credit Union now has 0.99% APR for loans with a term of between 12 and 36 months and 1.49% for 37 to 48 months.

PenFed - Auto Loans Overview

 

[andrewket]

I think 0.99 is only available if you use their car purchasing service

 

[AkalStation]

Just want to give a shout out to John Krumdick at USAlliance. He just helped me out with the financing of my P85. He was literally there for me every step of the way and went above and beyond the call. I had a bunch of stuff we had to figure out between dumping my current lease and other things. He was able to find a way to make things work. If you're looking for financing, do yourself a favor and get in touch with John.

His email is: [email protected]

 

[DJ Frustration]

I think 0.99 is only available if you use their car purchasing service

It's actually 0% if you use their buying service. Sadly you can't use it for Tesla since the "buying service" kicks back $$ to Pen Fed and the Dealers and Tesla operates a better model.

 

[Oyinko]

I'm exploring financing options to buy a P85+.

But I will probably move back to Europe in 1-3 years and would then need to resell the Model S and reimburse the loan. I have 2 questions:
- Is there any penalties for reimbursing a loan before the term?
- Am I still eligible for the federal incentive?

 

[Joe H.]

I'm exploring financing options to buy a P85+.

But I will probably move back to Europe in 1-3 years and would then need to resell the Model S and reimburse the loan. I have 2 questions:
- Is there any penalties for reimbursing a loan before the term?
- Am I still eligible for the federal incentive?

1. Depends on the lender, I've only financed through credit unions and never had any penalties for early repayment.
2. Yes, owning the car through the calendar year that you claim the tax credit will be fine.

 

[JonK@USAlliance]

Thanks for the shout out! If anyone out there is looking for financing on the D or the FOURSIXTEEN, drop me a line. Lots of buzz and USAlliance is ready to help.

 

[andrewket]

If only I could keep the 1.49% rate that I have on my existing loan on a new loan. Too bad you can't just swap collateral on the existing loan

 

[CSFTN]

Bumping old thread. People seem to be posting their recent financing on various other threads. Anyone want to consolidate and contribute recent offers in this thread?

 

[JMG]

Right now the best I can find is 1.11% through Energy Federal credit Union but only up to a max of $69,999. I would up with Digital Credit Union for 1.24% (60 mos) with no specific limit on loan amount.

 

[Robbo]

As I want the resale guaranty on my new S85D, my only financing option is Technology Credit Union (apparently Tesla can't provide their standard financing in CT anymore, despite the fact that I got Tesla/Wells financing 2 years ago on my first Model S). They quoted me 2.99%/66 months for 85% financing (~$82k).

 

[DJ Frustration]

FYI, Energy Federal Credit Union just quoted me 1.43% with excellent credit and a hypothetical amount of $50k. Agent said it didn't matter the amount and that they used to get 1.11% last year but it's 1.43% now.

FYI, DCU just quoted me 1.24% assuming the direct deposit discount of .5%.

 

[MsElectric]

Is anyone aware of any banks that would lease a Model S, other than the bank Tesla works with?

 

[siucity]

FYI, Energy Federal Credit Union just quoted me 1.43% with excellent credit and a hypothetical amount of $50k. Agent said it didn't matter the amount and that they used to get 1.11% last year but it's 1.43% now.

FYI, DCU just quoted me 1.24% assuming the direct deposit discount of .5%.

I believe with DCU, the 1.24% is good for up to 65 months, and up to $75K. Beyond $75K, the amount financed is limited to a percentage of your income.

 

[KurtR]

1.99% at PointWest CU in Portland, Oregon for a 72-month loan.

 

[Cyclone]

I have been approved for 1.49% for 65 months from Digital Federal Credit Union. They require direct deposit for that rate. The next best I found was 1.83 via Energy Credit Union (60 month term), then 1.99 locally (any term up to 72 months).

 

[tga]

I believe with DCU, the 1.24% is good for up to 65 months, and up to $75K. Beyond $75K, the amount financed is limited to a percentage of your income.

In case this confuses anyone - DCU has raised the base rate; it's now 1.74% for up to 65 months w/ direct deposit. EV's get a 0.25% discount, bringing the rate to 1.49%

 

[lolgas]

I have been approved for 1.49% for 65 months from Digital Federal Credit Union. They require direct deposit for that rate. The next best I found was 1.83 via Energy Credit Union (60 month term), then 1.99 locally (any term up to 72 months).

You got 1.49% on a used vehicle? That's nuts and a hell of a rate!

 

[tga]

You got 1.49% on a used vehicle? That's nuts and a hell of a rate!

DCU charges the same rates for new or used. In fact, I'm pretty sure the refinance program ("2nd chance car loan") also uses the same rates.

 

[mmccord]

>800 credit score and no debt.

DCU denied my loan application. Wouldn't even approve it for a partial amount.

Looks like I'll have to fall back on my Penfed approval.