Financing Tesla vehicles in Canada

[DK7519]

tesla offered my 3.08 today for under 60 months? why aren't people going with tesla?

the 3.4-3.5% are 96 months loan

 

[Murky-Article]

tesla offered my 3.08 today for under 60 months? why aren't people going with tesla?

Tesla did not offer you. Tesla negotiated a loan with either BMO or Scotia bank. Tesla does not have its own financing. And yes for under 60 months you can get 3.08 but 96 months is 3.48

 

[Emira]

tesla offered my 3.08 today for under 60 months? why aren't people going with tesla?

Tesla's financing is through the banks. If you look at your offer it should say which bank gave you the offer.

 

[Fiturist]

When Tesla changed RBC with BMO?

 

[Murky-Article]

When Tesla changed RBC with BMO?

My bad not BMO, RBC

 

[Fiturist]

Are both banks offer same interests?

 

[Murky-Article]

Are both banks offer same interests?

From what I have seen, not same but very close. within 0.1% I think RBC mis cheaper but easier to qualify with Scotia. RBC did not approve me, Scotia did.

 

[Germ]

So I picked up my car today. Had a pleasant surprise. Although I had accepted the financial terms more than 30 days ago in November (RBC 2.7% for 72 months), they haven't updated the interest rate on my contract! Got it for 2.7%. Very happy with that.

 

[Ruffus23]

From what I have seen, not same but very close. within 0.1% I think RBC mis cheaper but easier to qualify with Scotia. RBC did not approve me, Scotia did.

Not to be a dick, but how does one not get approved? I have never applied for a car loan before, but i thought it was guaranteed?

 

[Murky-Article]

Not to be a dick, but how does one not get approved? I have never applied for a car loan before, but i thought it was guaranteed?

Lol Def not a guarantee when you are applying for a 75K car, not for everyone. haha

 

[ElmieY]

Not to be a dick, but how does one not get approved? I have never applied for a car loan before, but i thought it was guaranteed?

Comes down to credit worthiness…

 

[Cyberm3]

Just got 2.9% for 72 months with Scotia

 

[Ruffus23]

Just got 2.9% for 72 months with Scotia

Do you have existing account/mortgage with Scotia?

 

[Murky-Article]

Do you have existing account/mortgage with Scotia?

72 months is cheaper, 96 is 3.48

 

[Cyberm3]

Do you have existing account/mortgage with Scotia?

Yes, we have a Scotia Visa. Perhaps that helped with the lower rate...?

 

[cooperyue]

I have summarized all financing rates in this forum from 2021.06 to 2021.12

happy new year

 

[Choncho]

Just got approved for 3.15% for 96 months though RBC for 2022 Model 3 Long Range. I currently have 60 months left on a 72month term @2.15% with RBC for my 2021 SR+. Curious if that 3.15% can be reduced once my 2021 SR+ is sold and that loan is paid out.

 

[KWC_Diu]

Just got approved for 3.15% for 96 months though RBC for 2022 Model 3 Long Range. I currently have 60 months left on a 72month term @2.15% with RBC for my 2021 SR+. Curious if that 3.15% can be reduced once my 2021 SR+ is sold and that loan is paid out.

I am also curious about this as I have 2019 M3 SR on financing and waiting MY this July. If it is needed, I will sell my M3 before applying financing application on My.

 

[SpicySuperset]

I got approved yesterday with BMO - 2.9% for 72 months

 

[ShortSell]

Just got approved for 3.15% for 96 months though RBC for 2022 Model 3 Long Range. I currently have 60 months left on a 72month term @2.15% with RBC for my 2021 SR+. Curious if that 3.15% can be reduced once my 2021 SR+ is sold and that loan is paid out.

How did you get 3.15 when others are getting 3.48 on 96 months?