JimmyAZ
Member
Hard to say. I applied to ate here CU this morning for their specialized Tesla financing. I’ll post what I find.
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Let's talk financing rates
- Thread starter flashflooder
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- Model 3
JimmyAZ
Member
Sorry - not sure how to edit that post. I meant to say "Tech CU" instead of "ate here CU" - damn autocorrect
...not sure but i looked at eligibility terms
- Live, work, worship, or go to school in Orange County, San Diego County, much of Los Angeles County, the City of South San Francisco, or the City of Alameda
- Are a member of AARP (the American Association of Retired Persons)
- Are an employee or retiree of select employer groups
...i technically work in orange county so i may not need to go through him..posters above say he is pretty responsive..
...true..i will wait as well or open an account and then have my loan go through him..
fluxemag
Member
My "in" to DeltaCU is a relative that works for a Delta Affiliate but they aren't a member of DeltaCU. Was your connection a member? I applied online a few days ago but I haven't heard back from them at all.
Heard back from Ryan at FPCU this evening after emailing him earlier. Looks like since I'm in NJ the only way I'd be able to apply for a loan with them is to join another local credit union. Looks like I'll be stopping by the local credit union during lunch tomorrow to get a membership with them so I can apply for the loan with FPCU.
myblubu
Member
Family member works for Delta and was not a member initially. They joined just prior to when I joined, but don’t think that was necessary for me to join. When I asked them to get me info about joining, they liked everything they saw and decided to join!
I worked with a rep at a branch office over the phone to process my loan application and got instant approval. I had a few questions before applying, so I called and spoke to a rep and they answered all my questions (how do I get the pre-approval letter to Tesla, what info do they need from Tesla to finalize the loan, would they lend 100%, etc.). So the rep told me about the referral program and had me register then call them back to apply for the loan. They took my info over the phone, instant approval, and emailed Tesla the needed pre-approval letter while I was on the phone. Took less than 20 minutes - which could have been quicker if I didn’t have so many questions that they kept having to stop and answer along the way.
If you applied online and have not heard anything, you should definitely give them a call - the process was super quick for me.
Have you already been contacted by a Tesla ISA about you car? If so, I found that talking to the CU rep really helped! I gave them the ISA contact info and watched as they copied me on the emails that flew back and forth as they worked out all the details. I’m sure I didn’t need to see all the details, but I liked being in the loop. I ended up getting my car 5 days prior to the date the ISA and I had scheduled for delivery!
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For anyone in the Austin area, I would recommend United Heritage CU. They offered me a 55K loan on my new Tesla, 72 months, 0 down, @ 1.79%, which is 80 basis points lower than the rate I was quoted by Tech CU.
Obviously you need to have near perfect financials: 820+ credit score, good income, and a few hundred thousand in collateral.
Obviously you need to have near perfect financials: 820+ credit score, good income, and a few hundred thousand in collateral.
You must've got in just in time. I communicated with Ryan yesterday and was told they are now restricting who they can lend to. Basically, as of yesterday, they can't lend to folks out-of-state anymore.
Doh, really? I sent him another email this morning asking if he had everything he needed from me. I haven't received a reply yet. I was hopefully going to get approval from the underwriters today. Now that people are starting to be rejected because they're out of state I wonder if they're not going to approve my loan...
Got word earlier this evening that I’ve been approved. Ryan also mentioned to me the hold on new out of state loans. It appears that I may have been one of the last ones to get in before the hold took effect at FPCU.
I emailed Ryan about the rumored change to no longer offer loans out of state and he has confirmed that this is the case. Oh well, the search continues.
Bartman1
Member
We had financed our 2017 MS through Chase Bank, arranged through TESLA, for 1.99% for 72 months. We are taking delivery of our M3 on Friday and financed through Chase Bank again, again arranged through Tesla for 3.14% for 72 Months. We have had a credit card with Chase Bank for a good while and don't know it that helps with the rate....probably could have gotten a lower rate through a CU but its was too easy to do it through Tesla to bother.
RyanS
Ka-chow
I guess I should have waited for Ryan. While waiting for Ryan’s call I applied online through FPCU website and got loan through their regular channel. I got 1.99 but only for $50K with $8k down. Wouldn’t give me a full amount. I might try TechCU next week.
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