How to advise a small bank?

[freds]

Hi There

Very committed to buying a model S and pulling the trigger tomorrow; purchase has been complicated by; heck I haven't really used credit in the last decade so was turned down by Tesla Finance and all the recommended credit unions/finance places on here, simply because of credit score and lack of history.

My local bank approved base on income, net worth and personal face to face meetings. Not a great down percentage or even interest rate; but I got approval.

Anyway this small bank has never dealt with financing a Tesla and the long delay from the ordering to actual delivery. Any suggestions on how to educate them on this process and make it smooth for all of us; given that my S85 is now projected for late September what should I advise or coach the bank on?

Thanks

 

[Pilot_51]

I'm going through a similar situation now. No credit score and my credit union has never financed a Tesla before, but they approved me at 3.9% with $40k down (nearly 2 years saving up). I gave my loan guy the number for my DS and they're working together on it, so I don't really need to deal with the Tesla specifics.

 

[wamochi]

although my circumstances are different (plenty of credit history and FICO 800+), my credit union is fairly new to the Tesla game as well. they did one recently, and basically they want to get the final MVPA and Monroney sticker to get the paperwork started. i haven't gotten the final MVPA yet, but i'm expecting it within a week or two. at that point the "application" gets started. my local credit union rep knows we are financing a portion and they have a promo 1.89% for 72 months that we are going to use. i already gave her the VIN, order agreement (with MSRP), and a preliminary (blank) Monroney, but they want the MVPA to move forward.