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So everytime you ask to look for a better rate with another financial institution, there'll be a hard check of your credit right? If so, wouldn't it reduce the credit score and affect the rates?
Tony_YYZ
Tezler Guru
Tony_YYZ
Tezler Guru
Tony_YYZ
Tezler Guru
Haha, fair enough. I had that discussion regarding my Y as well but the wife did not want to play the waiting game again for another one.Someone wanted it more than I did
Did you have to do anything to initiate or did it just happen in the process of them preparing the agreement?
All on its own. Got an email when the financing agreement was available for my review and that there was an update to the terms. Monthly payment dropped approx $100
The Tesla website is now showing financing rates @ 6.10% 
FYI...My DD for my M3 LR is 8/17-9/21. Next Bank of Canada meeting is 7/13 with expectations to raise interest rates a full 1% (making a 60K loan have 2K more in interest.)
W/ credit approvals lasting 90 days and rate holds lasting 30—but some here mentioning 60 days (different banks do vary, for instance CIBC offers 90-day rate holds)—my plan is to wait a few days to hopefully get ahead of the 7/13 hike while hoping for a 60 day window.
I have a phone meeting with YNCU Credit Union tomorrow to discuss their 5.09 rate and plan to apply to CIBC as well, given the 90 day rate-hold.
As long as hard pulls are within 14 days (some going up to 45 days, but I can't find how to determine the exact window) they count as just one hit against your credit score.
W/ credit approvals lasting 90 days and rate holds lasting 30—but some here mentioning 60 days (different banks do vary, for instance CIBC offers 90-day rate holds)—my plan is to wait a few days to hopefully get ahead of the 7/13 hike while hoping for a 60 day window.
I have a phone meeting with YNCU Credit Union tomorrow to discuss their 5.09 rate and plan to apply to CIBC as well, given the 90 day rate-hold.
As long as hard pulls are within 14 days (some going up to 45 days, but I can't find how to determine the exact window) they count as just one hit against your credit score.
How long did it take for them to prep the financing agreements? It’s been a week and I’m still waiting for it to show up. Not sure if that’s normal or just slower than usual since everything else had been pretty quick with the admin work online.
Is that what Tesla is showing you or what you got as part of your package from BMO? I did mine 2 weeks ago, tesla showed me 5.2%, after i went through with the application it wound up being at a rate of 3.2% with BMO
Yes it is what Tesla is showing me. How did it become 3.2%? Did you have to call BMO? What did they review?
Didn't do anything on my end. Got an email a couple days after submitting that my financing had been updated and that was the result.
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