That's great to hear! Really hope I get to keep my 4.04% rate from April 30th. EDD is June 1 to 4th so expect to receive it a day after the "30 day rate locked in" window.
-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
jason86
Member
Going to pick up my car in a few hours, and just received a feedback for the loan final approval. It's going to be remain at 3.68% for 96 months with Scotiabank which was first approved in mid-Feb.
I have a Life Insurance Policy that my father started in my name when I was a toddler. I considered cashing it in - but that is the worst . Tax implications would take at least 1 /3rd. ( An alternative would be a loan from the Canada Life at 6%) Found out about a Line of Credit using the Life Insurance as collateral . up to 90 % of the cash value. Scotiabank and RBC wouldn't consider it . I have to apply to Banking Solutions , a division of National Bank affiliated with Canada Life. These people don't move fast. I started the process over a month ago. An email sat with the Assigned Canada Life advisor a week . Then I was contacted by his assistant. Lots of documents..... that were forwarded to the bank. My only contact is the Canada Life advisor. Interest rate will be prime 3.2% + 1% . I plan to buy a used Model S . To rewind the year I woulda ordered a Model 3 SR+ last December . Waiting .... meanwhile Teslas that I considered buying , have been sold.
Sounds like there’s some different experiences with financing.
I have approval with RBC for 3.6% from March 19th.
My EDD is now June 11 - June 25 and I think my rates should have expired already? So should I see something in the agreement that shows as such? Or maybe it sounds like they will just change once I get the final payment notification?
I’m really hesitant to ask them to make changes like changing the down payment amount or re-enabling trade in on the off chance I somehow get to keep 3.6% with RBC.
Now I’m rather confused as to what I can expect, but sounds most likely I’ll be seeing a rate increase. If I don’t take delivery early in my current 2 week window I’d also hit 90 days since the approval which seems like it might require a new approval and credit check.
Anyone have an idea of what to expect here?
I have approval with RBC for 3.6% from March 19th.
My EDD is now June 11 - June 25 and I think my rates should have expired already? So should I see something in the agreement that shows as such? Or maybe it sounds like they will just change once I get the final payment notification?
I’m really hesitant to ask them to make changes like changing the down payment amount or re-enabling trade in on the off chance I somehow get to keep 3.6% with RBC.
Now I’m rather confused as to what I can expect, but sounds most likely I’ll be seeing a rate increase. If I don’t take delivery early in my current 2 week window I’d also hit 90 days since the approval which seems like it might require a new approval and credit check.
Anyone have an idea of what to expect here?
jason86
Member
My loan approved on Feb 27, rate and application also valid for 90 days. But I was 1 week ahead to take delivery before the application to get expired. And there's a chance that you may take delivery earlier than your current EDD. I got my vin during the 2 weeks window. Once when you receive the vin, then most likely you can take delivery within the next 2 weeks.
yes, up to 6 yrs, is a bit lower
financing longer term poses more risk for lender, thus higher interest rate
It will be included in your financing. You only need to pay $250 deposit cash/credit (which you've already did when you ordered) and rest of the fees and taxes will get included in the loan amount.
Tony_YYZ
Tezler Guru
Tony_YYZ
Tezler Guru
Similar threads
- Article
