Just made the plunge

[KL670]

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

 

[AMPd]

I started with credit unions first. Much lower rate than tesla and their banks

 

[rpm001]

Congrats! You're going to LOVE it!

 

[Piney999]

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.

 

[KL670]

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.

 

[AEdennis]

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.

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. Choosing between Teslas, that's a budget and timing thing.

 

[Randaddy]

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.

 

[JHawk]

Credit union for me too. Mine is currently offering 2.09% for up to 72mo contracts.

 

[Takumi]

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.

 

[KL670]

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.

 

[LoL Rick]

dcu.org is currently showing 1.99 up to 65 months. New or used, same rate.

 

[KL670]

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.

 

[Randaddy]

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.

 

[RogerHScott]

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.