Financing Question - Used Tesla

[snowbunny]

I have a MYP on order but I am thinking of holding out until the 4680s are ready or, at least, more info about it is available. I am thinking of purchasing an older Y to hold me over, but I find it would be much easier to deal on one if I have the cash versus working with DCU (or my bank) to go/back forth with the private party seller. I have just enough to pay for a used Y in cash, but I would want that money back to take advantage of low rates and not wanting to lock my cash into a car. Will I be able to get a loan afterwards? Hopefully my question makes sense.

 

[ShelJW]

If I understand your question...

Just go get pre-approved for a car loan with your lender. When you're ready to purchase the used Model Y, you'll have the funds basically instantly (you'll need to contact the lender and let them know you've found the car you wish to purchase)....

When/if you later want to get a new MYP... simply pay off the first loan, and get a new loan.

Not sure if that answers your question... I've received approval for car loans without having the actual car selected... shouldn't be a problem.

You'll probably pay a slightly higher rate on a used car then on a new car.

Free bonus tip: Seeing that you're in So. Cal. check out Logix Credit Union! Great financial institution to deal with, and they have excellent rates!