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Tony_YYZ
Tezler Guru
Don’t apply yet. The approval is good for 90 days and the rate is only good for 30 days. I just set ”buy in cash” option in my profile then got my SA to switch it to the financing option closer to delivery.
It has been documented here, and even my advisor said last week, that you should not apply until you get a VIN. For some reason, it appears faster to get matched to in order if you do not list financing. And once you get a VIN, they can then switch it to financing. This week, I got my VIN on Wednesday afternoon, and the financing was approved by Thursday morning.
Tony_YYZ
Tezler Guru
Interesting. I was offered 2.85 with BMO for 96 months with more down.Taking delivery today Oct 23rd of an MY LR from oakville sc.
Got 2.75 at BMO for 96 months with 6k down.
I could still opt for 2.35 at 72 months. Hmmm
Destiny1701
22’ M3LR ‘DrkNite’/ 22’ MYP BliueRocket
Same. Initially they wanted 15k down. Told them to go fly a kite lol. (Basically resubmitted from tesla at oakville live with notes from the sales guy stating our savings in rrsp, TfSA, and equities. Basically showing them more strength and they came back with 6.1k. Could have argued it more but gives a payment of $900 even tax in. Works. 55k CCA in year one is a beautiful thing
The 2.35 is normally take but probably easier to just buy this open loan out at 1.3% on a heloc equity line.
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Tony_YYZ
Tezler Guru
Hmm, I’ll give me SA a shout. I can definitely show more asset data if they will allow me.Same. Initially they wanted 15k down. Told them to go fly a kite lol. (Basically resubmitted from tesla at oakville live with notes from the sales guy stating our savings in rrsp, TfSA, and equities. Basically showing them more strength and they came back with 6.1k. Could have argued it more but gives a payment of $900 even tax in. Works. 55k CCA in year one is a beautiful thing
The 2.35 is normally take but probably easier to just buy this open loan out at 1.3% on a heloc equity line.
Hi guys, new to Tesla and the whole auto finance thing. Car is scheduled for end of year so I thought I'd take a look at my options. I want to go through Tesla financing and looks like from the thread here, BMO, Scotia, and RBC are the banks that offer through Tesla. Have a couple of questions hoping someone could help me out...
1. When applying through tesla financing, will tesla only initiate the one inquiry (hard) on my credit bureau, and then pass it off to the banks, or will all individual banks do a separate hard inquiry?
2. Say I happen to work at one of the banks that offer the loan, and I get quoted from Tesla with all the banks' rates and offers. Could I then contact Tesla (autofinance department I'd assume) to see if they can bump me and give me a better offer based on the bank's "employee perks/policy"? Would I contact Tesla directly saying that I work at XYZ bank or would I need to contact my employer (bank) directly and ask if they can adjust the rate? If the latter, would that automatically reflect in my Tesla account and agreement for the lower/adjusted rate, or do I have to manually do something?
Thanks all, happy driving
1. When applying through tesla financing, will tesla only initiate the one inquiry (hard) on my credit bureau, and then pass it off to the banks, or will all individual banks do a separate hard inquiry?
2. Say I happen to work at one of the banks that offer the loan, and I get quoted from Tesla with all the banks' rates and offers. Could I then contact Tesla (autofinance department I'd assume) to see if they can bump me and give me a better offer based on the bank's "employee perks/policy"? Would I contact Tesla directly saying that I work at XYZ bank or would I need to contact my employer (bank) directly and ask if they can adjust the rate? If the latter, would that automatically reflect in my Tesla account and agreement for the lower/adjusted rate, or do I have to manually do something?
Thanks all, happy driving
Tony_YYZ
Tezler Guru
Same. Initially they wanted 15k down. Told them to go fly a kite lol. (Basically resubmitted from tesla at oakville live with notes from the sales guy stating our savings in rrsp, TfSA, and equities. Basically showing them more strength and they came back with 6.1k. Could have argued it more but gives a payment of $900 even tax in. Works. 55k CCA in year one is a beautiful thing
The 2.35 is normally take but probably easier to just buy this open loan out at 1.3% on a heloc equity line.
Spoke to my SA about the rate I was offered vs others and she went back to do some digging. She got my financing switched from BMO @ 2.85% to Scotia @ 2.80%. Not a huge change but every $ counts.
2.85% / 96 months with RBC. completed the necessary on the Tesla site and got the email approval back in about 45 seconds after I submitted !!
Pick up is Nov 13th - Kitchener., ON.
Pick up is Nov 13th - Kitchener., ON.
Destiny1701
22’ M3LR ‘DrkNite’/ 22’ MYP BliueRocket
Destiny1701
22’ M3LR ‘DrkNite’/ 22’ MYP BliueRocket
He just got back to me and said this is the November rate. 3.15% for 96 months loan
Did you have a downpayment? I got 2.85% from RBC (through Tesla) a few days ago over 96 months with a $13k downpayment but as Bratt said the rates might be going up as all the news sites are saying and everywhere is threatening to do.
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