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Scifi_tv_fan
Member
Any extremely rich people out there want to do a 0% interest loan to me? 
haha
If only I had some wealthy relatives to do that with, they can lend me exactly what I need and I repay them every cent back within a decent time frame. To me that's a better deal than an interest loan with a bank, etc.
hahaIf only I had some wealthy relatives to do that with, they can lend me exactly what I need and I repay them every cent back within a decent time frame. To me that's a better deal than an interest loan with a bank, etc.
Dakkor
Member
Anyone found something better than the 3,9% Tesla currently offer with Desjardins or Scotia?
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Shawn Snider
Member
Dakkor
Member
skrenes
Member
Sorry, I didn't read all the messages, but I thought I'd add that I've been offered a Home Equity Line of Credit for prime + 0.5%. If you happen to be a student, most banks offer educational line of credits at prime and then never take it away afterwards. Prime is 2.7% which is considerably better than some of the loan rates I see on here, and line of credits are way more flexible than loans.
SteveW25561
Member
The main advantage of the Scotia financing is you get the Tesla Resale Value guarantee -- which is likely going away soon if not now. When I looked just now (July 7, 2016 @ 2:36 pm PST), the RVG is still showing on the "loan" tab of a custom MS order. If this is important to you, then take it into account (vs the difference in interest rate over the 66month max term that the RVG is offered).
Although I am a confirmed Tesla fanboi (just having bought my second MS, delivered 2 weeks ago), I'm still unsure of future tradein values given the quickly moving platform, plus all these recent bumps in the news. For me, the RVG is a source of reassurance as a backstop against a precipitous drop in resale value (which, to this current point, hasn't been too bad).
Although I am a confirmed Tesla fanboi (just having bought my second MS, delivered 2 weeks ago), I'm still unsure of future tradein values given the quickly moving platform, plus all these recent bumps in the news. For me, the RVG is a source of reassurance as a backstop against a precipitous drop in resale value (which, to this current point, hasn't been too bad).
TomatoOne
Member
I'm assuming this is on your new S60D (congratulations BTW
. Is 2.99% with Scotia?We're waiting for delivery of a CPO P85 (ordered late January), and it seems the only rate Tesla is offering for CPO cars is 3.95% with Scotia.
CIBC currently has a fairly decent secured line of credit rate: prime - 0.5% for the first 6 months, then prime + 0.5%, so that sounds like a better choice.
I'm assuming this is on your new S60D (congratulations BTW
We're waiting for delivery of a CPO P85 (ordered late January), and it seems the only rate Tesla is offering for CPO cars is 3.95% with Scotia.
CIBC currently has a fairly decent secured line of credit rate: prime - 0.5% for the first 6 months, then prime + 0.5%, so that sounds like a better choice.
I recently took possession of a 2015 CPO in late January and 3.95% from Scotia is what I signed up for. This was a little better than my original Model S that was also through Scotia but at 3.99%.
TomatoOne
Member
We planned a 25% downpayment, but the finance advisor forgot to put it into the application and got an approval for the entire amount. He added it to the application later (and it was obviously approved again), but it appears Scotia didn't have any issues the first time. Credit experiences really depend on your personal details, so hard to tell here.
Yes, Tesla will arrange everything and you never need to meet anyone at Scotia.
To clarify, this rate is for new cars only. I just traded in my 2013 for a 2015 CPO and got 3.95% through Tesla (Scotia). This was better than the original Tesla (Scotia) rate back in 2013 (3.99%) so I wasn't bothered by it.
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