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It's Almost Here

I ordered my Model S for January or February delivery so that it would be a 2016. Thank you for all the help picking options. I received a call a couple of weeks ago asking if I'd be willing to take the car in December with a 2016 model year. Of course, I agreed. Well, It entered production on 12/8 and the delivery estimate shows 12/17 to 12/31. Looks like it's time for me to get everything ready!

Couple of questions -

1 - I have a trade in that I feel like they are giving me too little for. Has anyone used a dealer courtesy trade? I may have another dealer willing to give me more for the car, but want to get the sales tax credit for the new purchase.

2 - Tesla lending quoted me 2.59% for 72 months with 10% down through TD Bank. What are other people getting currently? Is the resale guarantee worth going through Tesla's preferred banks?


Try to get an independent quote from CarMax. It is pretty quick and painless to get an appraisal from them.

I was approved for 75 months for 2.15% through UFCU (University Federal Credit Union) about a week ago. Via my trade in it was about 15% down, but I don't recall what their minimum down payment is (if any).
Try PenFed Credit Union for among the lowest, if not THE lowest, loan rates in the US.

You do NOT have to be a military member to get a loan from them.

We got 0.99% APR (not a misprint--under 1%) on an MS loan earlier this year, but now they're up to 1.49% (and will possibly go up with the Fed's choices later this week).

Another choice is your local Credit Union as well--as a member-owner of a credit union, they tend to not gouge you on loan rates . . . like a for-profit bank is likely to do.

PenFed - Auto Loans Overview

Enjoy your new Tesla!
PenFed seems to be slightly more than what Tesla offered at 2.74% for 72 months. I will check out Alliant. Do you guys think the $1600 in savings is worth giving up the resale value guarantee? I wouldn't normally worry about it, but there is a lot more uncertainty around this car with the constant technological improvements and upcoming model 3 release. Still, the value they are guaranteeing seems pretty low.

I will take my car to a local CarMax and see what they're willing to offer. My delivery specialist said they would be willing to match any offer from CarMax, but seemed to think I'd be better off waiting until closer to delivery since their offers are good for 7 days.


Still in love after all these miles
Try a credit union. I have always found them to be the lowest. I got 1.99 for 72 months in CA at Tech Credit Union in 9-14. 2.59 sounds high to me since nothing has changed in the interest rate world over the past year or so.

You will always get more for the car you sell by not giving it to the dealer selling you the car. Takes more work. But may well be worth it to you. And from everything I have read here on the forums, Tesla's trade in offers are very, very low.

Oh, and congratulations!!! You have no idea what you are in for. It's completely awesome! I love my girl more and more every day.

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