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HELP - Alliant FCU Financing

viktorleon

Member
Apr 3, 2018
135
38
CenCal
In the past 3 months, has anyone in California successfully financed their Tesla through Alliant FCU? If so, I need your help.

Here's my story:

My Stanford Tesla Sales Advisor found an inventory 2017 100D MS w/ 9k miles for me. Applied through Tesla Finance @ 1.49% and after 3 days, I was told that Tesla will not finance any cars over 6k miles. I decided to look for my own financing and came across this site Tesla Car Loans from Alliant . I applied and got approved but @ 3.49%. I inquired about the rate given and was told that in order to qualify for the 1.49% APR, I had to apply through Tesla since California law states that only dealers set promo APR's.

I asked my SA and he was told that Tesla hasn't used Alliant for a while, at least at that location. When I told that to the loan officer, she stated that they deal with hundreds of Tesla loans per month and that my SA's advice was incorrect.

So as you can see...I'm having issues getting Tesla and Alliant to communicate with each other. One says something, while the other says something else.

It's been a game of he said - she said.

If you've had success with both within the past 3 months

1. Which loan officer did you speak with?
2. Which Tesla Store/Showroom did you work with?
3. Who was your Tesla contact?
4. Should I try with another Store/Showroom or Sales Advisor?

Any guidance would be appreciated.
 

Snobun

Member
Nov 22, 2017
50
30
Pasadena
I am not in CA but I have talked to Tesla and Alliant and this is what I was told.

Alliant used to be one of Tesla’s preferred lender but that relationship ended. Alliant, although not a preferred lender anymore, is matching loan promo rates/terms to what Tesla financing is advertising. Tesla and Alliant are not working together so there is no need for them to communicate.

Do you have great credit (800+) and healthy debt-to-income ratio to qualify for their best advertised rates? I think you should talk to a different Alliant agent to find out why you did not qualify for the 1.49%. I don’t think it has to do with you having to go thru Tesla financing since they do not work together.
 
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bktiger86

Member
Sep 3, 2016
325
157
West Covina, CA
My Model S is currently through Alliant FCU. I have it for 1.99%.

1. I didn't speak to a loan officer directly. I just applied it online.
2. I was helped by the Costa Mesa delivery center.
3. Sorry but my contact was 1 year ago, so I forgot the delivery specialist.
4. Maybe the current showroom specialist you have doesn't know what they are talking about. The one I went to, they took care of everything for me. All I had to do was sign the documents and make sure everything was correct.
 

P85_DA

Supporting Member
Apr 25, 2015
4,171
2,881
CA
Just closed with alliant 3weeks ago ...the promo for P100Ds was 2.49 ...the 1.49 ended earlier this year ......ask for Michael Proch ...simple process ...bought in SD picked up in Palm Springs
 

boaterva

Supporting Member
Apr 2, 2016
7,567
3,738
Northern Virginia, USA
That’s their standard promo URL and I used it at the end of Q3 last year. I really doubt anything has changed between Tesla and Alliant for S and X financing especially at end of quarters when they always want to move things. It could be the incentive isn’t as good this year because they (Tesla and Alliant?) are waiting for Q3/4 to push things after the 200,000th car. Who knows.

I had no issue at all last year, and it was painless, totally. It was the 0.99% rate at that time, which is what it normally is at the end of the quarter last year. It seems to have changed, based on posts above! It may also change based on how much down or how much you are financing (or your credit score....).

But I really doubt totally the ‘we aren’t using Alliant’.
 
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whitex

Well-Known Member
Sep 30, 2015
6,615
7,942
Seattle area, WA
Consider the price difference between 1.49% and 3.49%, tell Tesla to discount the inventory car more so that the payments would be identical, or find you a car that does qualify for their own financing you are already approved for. 2% difference over 72months on a $100K loan is $6,000 in interest.
 

viktorleon

Member
Apr 3, 2018
135
38
CenCal
Thanks to everyone that contributed.

@Snobun Score and DTI are not an issue for me - Alliant was just straight up telling me that they wouldn't honor their advertised APR if the application didn't go through Tesla.

@ZERO260 In Tesla's eye, the car is considered new.

@Akikiki Energy CU only serves a certain community that I'm not apart of, therefore not meeting requirements.

@P85_DA I can't PM you for some strange reason. Would you mind sending me a message?

@whitex Tesla isn't budging on the price :(
 
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