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financing

Discussion in 'Model S: Ordering, Production, Delivery' started by Rawad H., Nov 1, 2014.

  1. Rawad H.

    Rawad H. Member

    Joined:
    Apr 8, 2014
    Messages:
    123
    Location:
    Livonia mi
    So i planned to apply through alliant credit union in 2 weeks and take delivery early december and it seems like they raised there rates to 72 months 2.29 and 84 months 2.99. up from 1.74 and 2.29 does anyone know of any other credit unions that offer better interest rates?
     
  2. DieAbetic

    DieAbetic Member

    Joined:
    Jan 16, 2014
    Messages:
    159
    Location:
    Los Angeles
    Only lower one I found was Digital Credit Union, but you have to do direct deposit of your whole paycheck. Not sure what their rates are now, but at one point with all the discounts you could get near 1%.

    Unfortunately - at least for me - they were the most difficult credit union to deal with, and when you open an account they do a hard credit inquiry. So don't do what I did and open an account too early so they have to pull credit twice.

    I decided to go with AlliantCU
     
  3. ww73

    ww73 Member

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    Oct 3, 2014
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    Location:
    Sammamish, WA
  4. dweeks

    dweeks Member

    Joined:
    Aug 26, 2014
    Messages:
    152
    Location:
    Flagstaff, AZ

    I'm going to use Energy Federal. Assuming very good credit, you can get .61%

    You cannot get .51%, as that means applying two discounts simultaneously, and they won't do that. I asked.
     
  5. Rawad H.

    Rawad H. Member

    Joined:
    Apr 8, 2014
    Messages:
    123
    Location:
    Livonia mi
    i didnt no about the energy federal credit union but those rates look amazing 84 months at 1.01 sounds great i shoul dbe ok with a 850 credit score
     
  6. Majerus

    Majerus Member

    Joined:
    Jan 21, 2010
    Messages:
    689
    Location:
    Illinois
    Did anyone try to apply using the not a member option, if so did it work ? I seem to keep getting redirect to the main site of Energy Federal Credit union
     
  7. andrewket

    andrewket 2014 S P85DL, 2016 X P90DL (soon 100)

    Joined:
    Dec 20, 2012
    Messages:
    5,042
    I became a member last week. Planning to apply this week. The approval and rate is good for 60 days, and I wanted to make sure that the car would arrive in that window. Note that they are closed tomorrow as they physically moved their administrative offices this past weekend.
     
  8. Majerus

    Majerus Member

    Joined:
    Jan 21, 2010
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    Location:
    Illinois
    Ah i c, ill try Tuesday I suppose
     
  9. shadowinstallz

    Joined:
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    Location:
    NYC, United States
    :love::scared:
     
  10. randompersonx

    randompersonx Member

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    Oct 10, 2014
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    Location:
    Miami, FL
    How is everyone qualifying for membership at Energy FCU?
     
  11. Majerus

    Majerus Member

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    Jan 21, 2010
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    Location:
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    Call 800-223-2177 , option 1350 they will explain the process.
     
  12. randompersonx

    randompersonx Member

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    Location:
    Miami, FL
    My question was just what the qualification factor was -- their website implied you had to be an employee of a list of companies (of which I am not).
     
  13. rjatc

    rjatc Member

    Joined:
    Aug 19, 2014
    Messages:
    23
    Location:
    Cynthiana, KY
    Call and ask for Mary Johnson. She will set you up with an application for the Chinese Community Center, or something like that. You can then send her a check form $10 and she will take care of the rest.

    She is also great to work with. I live in Texas and they are in Maryland. She helped with all of the paperwork and the approval.
     
  14. Majerus

    Majerus Member

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    Figured I would let her explain as the whole process seemed a little odd initially.
     
  15. yocool86

    yocool86 Member

    Joined:
    Oct 24, 2014
    Messages:
    13
    Location:
    San Antonio TX

    I spoke with Mary. She seems like a nice lady and well informed. She will ask you to fill out the Chinese center app like Randompersonx explained and fill out the membership form. It all has to be mailed in, not emailed so might be best to get started on it now. Will update when I hear back from her with rates.
     
  16. Rawad H.

    Rawad H. Member

    Joined:
    Apr 8, 2014
    Messages:
    123
    Location:
    Livonia mi
    So I decided to go with energy federal credit union and they say that they can get as low as I believe it was 1.51% and then you can get a 1% discount for an ev vehicle I sent in my membership application about a week ago still waiting on a reply
     
  17. Bobbyducati

    Bobbyducati Member

    Joined:
    May 1, 2014
    Messages:
    347
    Location:
    VA
    just mailed in my application today, hoping for that sweet sweet sub 1%!
     
  18. R²B

    R²B All Star

    Joined:
    Aug 24, 2014
    Messages:
    340
    Location:
    Waddell, AZ
    So w/ EFCU you don't know your rate (or even if you qualify) until after you physically mail in the application? No online or over the phone approval process?
     
  19. shadowinstallz

    Joined:
    Jun 15, 2014
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    Location:
    NYC, United States
    The membership application is online. I will send mine in tomorrow. Hopefully I will qualify for the crazy low rate!!
     
  20. Bobbyducati

    Bobbyducati Member

    Joined:
    May 1, 2014
    Messages:
    347
    Location:
    VA
    once you join they will start the loan approval process, so yeah, you cant really get any information out of them before joining. i was told it was quick and easy if that makes any difference.
     

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