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Financing w/Tesla & GRV or Third Party?

Discussion in 'Model S: Ordering, Production, Delivery' started by Vik Patel, May 1, 2016.

  1. Vik Patel

    Vik Patel P90D

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    Apr 6, 2016
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    Location:
    Novi, MI
    Tesla's bank has me approved for financing at 2.69% for 72 months or 1.99 for 60 months. They have another bank that does 1.99% on 72 months but they won't give you the guaranteed resale value with the other bank.

    Is the GRV worth additional interest?
     
  2. Ryan MF

    Ryan MF Member

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    Location:
    New Jersey
    Vik, wondering how much you are financing for those rates?

    Also do you know what is the minimum amount you can finance to get GRV
     
  3. Vik Patel

    Vik Patel P90D

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    Apr 6, 2016
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    Location:
    Novi, MI
    I applied for 120K (so just 10% down) and was approved - what I'll actually finance I hadn't yet thought about. Also found that their other bank (w/o the GRV) includes GAP insurance at no cost while the bank that includes the GRV doesn't have GAP insurance - so if somebody is financing a lot, they will want GAP coverage.
     
  4. supratachophobia

    supratachophobia Active Member

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    Location:
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    Alliant, all the way.
     
  5. NJ Kevin

    NJ Kevin New Member

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    Apr 5, 2016
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    Jersey Shore
    Hi Vik, depends on your intentions with the car first, and your belief in the brand next. Another variable is your intended mileage. If you expect to unload the car within a few years or think Tesla isn't going to sustain it's current meteoric risk through the automotive industry, then it's a good insurance policy to carry. But if you're keeping the mileage low, don't worry about that because the resale, as is indicated by 2014 models currently selling above 50% of initial retail value, will remain strong.
     

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