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Financing Suggestions in California Bay Area
- Thread starter Figo7966651
- Start date
I highly recommend checking out Tesla loan comparison spreadsheet - auto updates hourly. You can grab the 3yr 0.89% or 4yr 1.87% rates from Fairwinds.
StarOne is my CU and it is on the list. Excellent customer service and reasonable rates for today's economy.
Thank you! This looks too good to be true. Does Fairwinds accept California residents?
Are there any hidden fees with Fairwinds? I read somewhere they have multiple fees added on. I got approved through Fairwinds and already joined the membership, just short of getting the final documents to sign.
I'm debating whether or not to LIghtStream it. I'd pass on LightStream if it is just the 0.1%, but if there are random fees with Fairwinds and their checking account, I might jump.
While I cannot comment on Fairwinds, StartOne has (and probably still does) offer loans to H1-b folks.
We are using Fairwinds out here in CA as well. The just issued a check for the financed portion (made out to Tesla) and they overnight sent it to Tesla (Fremont delivery address). Is that how the financing works? I assumed they would send the check to me and I'd hand it over at delivery. What was your experience if you went through them?
The numbers in the Fairwinds loan document are weird.
It says 0.89% on their website. But on the final loan documents it says 0.808% on the first page, but on the second page it says 0.75% interest rate. And they add on a stamp fee and processing fee to the true loan amount, making the principal larger. The loan officer tried to explain that the fees added on makes the difference from 0.75% to 0.808%, but I tried all the combinations of APRs and loan principals in loan calculators and just can't get the numbers to work out.
And they tried to sell me credit life insurance, and really expensive GAP insurance.
I ended up LightStreaming it. Super straight forward, no hidden fees, no upselling services, numbers are consistent and the math checks out.
It says 0.89% on their website. But on the final loan documents it says 0.808% on the first page, but on the second page it says 0.75% interest rate. And they add on a stamp fee and processing fee to the true loan amount, making the principal larger. The loan officer tried to explain that the fees added on makes the difference from 0.75% to 0.808%, but I tried all the combinations of APRs and loan principals in loan calculators and just can't get the numbers to work out.
And they tried to sell me credit life insurance, and really expensive GAP insurance.
I ended up LightStreaming it. Super straight forward, no hidden fees, no upselling services, numbers are consistent and the math checks out.
