Financing Tesla vehicles in Canada

[ChrisOtt]

We probably see a spike in rates soon, 4.49 isn’t that far off with todays expected boc increase. Wish the X wasn’t so delayed.

 

[stinkycheese]

got 4.58% for 96 months with RBC with $20k down for my MYLR.

 

[Tony_YYZ]

got 4.58% for 96 months with RBC with $20k down for my MYLR.

Hurts to see rates above 4% but it was inevitable.

 

[booruce]

got 4.58% for 96 months with RBC with $20k down for my MYLR.

This is still sorta ok.

Once it goes above 5% is when i have reservations.

 

[stinkycheese]

This is still sorta ok.

Once it goes above 5% is when i have reservations.

Yea ikr. I started visiting this forum 35-40 days and watching the rates creep up is baaaad lol. Almost went ahead with changing to MYP but decided against it as I think unlike USA, any changes to order changes the price
Debating if I should change my downpayment or not.

 

[Randy-12]

This is still sorta ok.

Once it goes above 5% is when i have reservations.

Well with prime up yesterday, the banks all announced they will be raising their rates as of today.
So we'll know soon where it will land. I'm thinking at least a 1/2 point or a bit more up.

 

[catman44]

Well with prime up yesterday, the banks all announced they will be raising their rates as of today.
So we'll know soon where it will land. I'm thinking at least a 1/2 point or a bit more up.

But Tesla will not raise the interest rates before the end of the month nonetheless, correct? I want to find the right moment to switch from cash to loan for my upcoming M3 (in May) and lick the interest for 30 days.

 

[Randy-12]

But Tesla will not raise the interest rates before the end of the month nonetheless, correct? I want to find the right moment to switch from cash to loan for my upcoming M3 (in May) and lick the interest for 30 days.

No one can say what Telsa or the banks will do.

 

[rickvancouver]

4.35 - 72 months 25k dp BOM

 

[DarrenHD]

4.35 - 72 months 25k dp BOM

Last year at this time I got 2.49% with Scotia thru Tesla. Some others got a bit lower. It really sucks that rates are going up, and it's just the start of it

 

[blue_dragon]

Yup, because rising rates are going to magically cure the supply chain issues that are causing the inflation.

 

[Ruffus23]

Yup, because rising rates are going to magically cure the supply chain issues that are causing the inflation.

Depress that demand

 

[TheFozz]

Has anyone looked into outside financing options? I haven't made any calls yet, but I see that cheaper rates may be available through credit unions. YNCU is advertising rates from 4.09 (or 3.99 with a 0.10% loyalty bonus). Rates + Specials

I recall HSBC having had an EV specific loan rate in the past - not sure if any of the major banks still do that.

 

[TheFozz]

Has anyone looked into outside financing options? I haven't made any calls yet, but I see that cheaper rates may be available through credit unions. YNCU is advertising rates from 4.09 (or 3.99 with a 0.10% loyalty bonus). Desjardins has 4.2% if you have other products with them, so depending on insurance costs that might work too.

I recall HSBC having had an EV specific loan rate in the past - not sure if any of the major banks still do that.

 

[pkgmdly]

My financing approved at 4.7% from BMO for 96 months, $5k down. I am okay with it. Delivery appointment on 3rd May 2022

 

[BratuS]

I've got 4.58% with 5k down - RBC. EDD - 7/5 - Montreal QC

 

[catman44]

I've got 4.58% with 5k down - RBC. EDD - 7/5 - Montreal QC

I assume 96 months? That is not bad, a little better rhan on the website. Did you go with Tesla's partners? I did and got 4.35% (60 months, 40K down). Not great...

 

[BratuS]

Sorry, but sure, 96 months and Tesla's partners. Unfortunately not so great... and my time machine is out of order at this moment

 

[BratuS]

I've asked Tesla, [email protected] , a better rate and they replied with an offer from ScotiaBank.

96 months, 4.48% APR

 

[Japles]

Hey guys, at 4.35% financing 72 months, is it worth paying in full with cash?