TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker and becoming a Supporting Member. For more info: Support TMC

Just made the plunge

Discussion in 'Model S' started by KL670, Jun 13, 2017.

Tags:
  1. KL670

    KL670 Member

    Joined:
    Feb 7, 2016
    Messages:
    129
    Location:
    San Francisco
    Hi all,
    After going back and forth in the past 2 yrs, I put down the deposit for one of the CPO Model S P85's. I thought it was a good deal. It's a 2013 has 40k miles so it'll come with the 4 yr or 50k mile warranty. It doesn't have AP which I can live with because I'll just love driving the thing!!
    My question is where I should go for a loan. Do people typically go with Tesla? My advisor said it's generally 2.5-4%. Any thoughts?? I'm so glad to be part of the family
     
    • Like x 1
  2. AMPd

    AMPd Active Member

    Joined:
    Nov 27, 2012
    Messages:
    2,186
    Location:
    Northern California
    I started with credit unions first. Much lower rate than tesla and their banks
     
  3. rpm001

    rpm001 Member

    Joined:
    Mar 26, 2017
    Messages:
    243
    Location:
    Toronto
    Congrats! You're going to LOVE it!
     
    • Like x 1
  4. Piney999

    Piney999 Member

    Joined:
    Feb 27, 2016
    Messages:
    323
    Location:
    North of Spokane Washington, Earth
    Congrats! It is an awesome feeling when you finally drive away! I agree, I would begin with Credit Unions, but shop around like anything else.
     
  5. KL670

    KL670 Member

    Joined:
    Feb 7, 2016
    Messages:
    129
    Location:
    San Francisco
    Thanks for your support!! Part of me is still questioning if it's the right decision since I placed a deposit on a model 3 as well. My thinking is at the end of the day the S is still a more superior car than the 3 despite all the bells and whistles. I hope I'm not fooling myself.
     
  6. AEdennis

    AEdennis Active Member

    Joined:
    Jul 23, 2013
    Messages:
    2,380
    The tech will continue to improve. However, the sooner behind the wheel the better. Any Tesla is superior to 99% of the cars on the planet, I didn't make it 100% because I want some wiggle room. :cool: Choosing between Teslas, that's a budget and timing thing.
     
  7. Randaddy

    Randaddy Member

    Joined:
    Oct 23, 2016
    Messages:
    57
    Location:
    Bay Area
    Credit union for me as well. I went with USE, Berkeley based if I recall. Don't need to start shopping for loans until you have a confirmed delivery date IMO. My car was delayed which caused my loan to expire and the CU had to re-run my credit for loan #2.
     
  8. JHawk

    JHawk Member

    Joined:
    Jan 1, 2017
    Messages:
    44
    Location:
    Kansas
    Credit union for me too. Mine is currently offering 2.09% for up to 72mo contracts.
     
  9. Takumi

    Takumi Member

    Joined:
    Aug 25, 2006
    Messages:
    553
    Location:
    IL
    #9 Takumi, Jun 13, 2017
    Last edited: Jun 13, 2017
    We started with the banks, but the banks were too high. Tesla gave us the lowest at 1.74% for 72mo, but my SO and I worked on getting our scores past 800 prior to making the purchase.

    Definitely shop around for the best rate.
     
  10. KL670

    KL670 Member

    Joined:
    Feb 7, 2016
    Messages:
    129
    Location:
    San Francisco
    Just talked to a CU and the best they have is 2.25% for 5 years and 1.99% for 3 years. Will need to do more homework.
     
  11. LoL Rick

    LoL Rick Like Buttah

    Joined:
    Apr 21, 2014
    Messages:
    843
    Location:
    Land O Lakes, FL
    dcu.org is currently showing 1.99 up to 65 months. New or used, same rate.
     
  12. KL670

    KL670 Member

    Joined:
    Feb 7, 2016
    Messages:
    129
    Location:
    San Francisco
    Oh I forgot to mention I paid $47500 for my 2013 P85. How you think I did? It has the pano roof and obech wood trim and tech package. Nothing fancy. I really like the fact that it comes with the 4 year warranty.

    I'll look at dcu.org too. Thanks.
     
  13. Randaddy

    Randaddy Member

    Joined:
    Oct 23, 2016
    Messages:
    57
    Location:
    Bay Area
    That's a great price since you got a 4 yr warranty. USE CU currently has rates at 1.49% up to 84 mo for any car 2011 and newer. I also got 3 months deferred payments when I got my loan in Dec through them.
     
  14. RogerHScott

    RogerHScott Active Member

    Joined:
    Mar 2, 2016
    Messages:
    1,820
    Location:
    Lafayette, IN
    Alliant CU here. First car I've ever bought on credit, but the rate was so low they're basically paying me to hold their money (assuming I invest it reasonably). Getting any sort of decent Tesla for under $50k seems pretty sweet. Enjoy.
     

Share This Page

  • About Us

    Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.
  • Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.


    SUPPORT TMC