Interest rate from Tesla's Financing LESS than advertised

[AlMc]

Calisun, were you able to get a better rate? If so, what did you do doing your negotiation process to get it?

I negotiated a rate drop of 1% from the initial quote. Did this by supplying documentation that I had from two other financial companies willing to lend at 1.25% less than the 'best' rate Wells Fargo/USBank had quoted. Could not negotiate down the full 1.25% but wanted the guarantee more than the few dollars that the .25% represented.

 

[bollar]

I negotiated a rate drop of 1% from the initial quote. Did this by supplying documentation that I had from two other financial companies willing to lend at 1.25% less than the 'best' rate Wells Fargo/USBank had quoted. Could not negotiate down the full 1.25% but wanted the guarantee more than the few dollars that the .25% represented.

Wow, that sounds like an experience identical to buying a car at a dealer.

 

[AlMc]

Wow, that sounds like an experience identical to buying a car at a dealer.

Yes. With Tesla alone the buying experience was very 'undealer-like'....The financing was very dealer like :wink:

 

[Jonathan Hewitt]

Yes. With Tesla alone the buying experience was very 'undealer-like'....The financing was very dealer like :wink:

Yeah, not only do you have to pay the extra money in interest to get the guarantee you have to go through that unsavory experience...I think I'll stick to credit union financing.

 

[AlMc]

Yeah, not only do you have to pay the extra money in interest to get the guarantee you have to go through that unsavory experience...I think I'll stick to credit union financing.

To be fair to Tesla finance people......They were just the 'go between' for me the banks supporting the buy back guarantee and I. The Tesla people were always helpful and, in my opinion, tried to do whatever they could to secure me the best rate. If not for the buy back I would have gone with USAA at 1.49%

 

[bollar]

To be fair to Tesla finance people......They were just the 'go between' for me the banks supporting the buy back guarantee and I.

Yes. Much like the dealer is the "go between" between you and the manufacturer.
Seems like Tesla made a deal with the devil in order to finesse the "lease" value proposition.

But I'm just messing with you... Congratulations on the good rate.