eddiejason
Member
I got a 2.49% for 60mo. Rate is good for anyone with FICO of 730+. They use Experian to reference your credit eligibility. LAFCU quoted me at 4% for terms beyond 49mo.
Let's talk financing rates
- Thread starter flashflooder
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- Model 3
drewbaumann
Member
Who did you get that through? Tempted to get approved by a good place then use lightstream to get an additional .10% off.
erthquake
Active Member
SchoolsFirst Federal Credit Union has awesome rates if you work for a school, or have a relative that does.
I got zero down at 3.29% for 84 months, and first payment not due until end of June.
Further up in this thread someone mentioned LA Financial in Pasadena. Their posted rates still seem to be very good. I plan to give them a call soon.
Vehicle Loan Rates | LA Financial
Vehicle Loan Rates | LA Financial
Anyone got good rates in Chicago or IL area? Want to get this finalized so will be ready to take the delivery as soon the VIN gets assigned.
Plan B
Active Member
Interest rates have gone way up with my CC anyway. It was 1.99 for 84 months.
Assuming Credit score above 729:
New
1-60 months
2.74%
61-72 months
2.99%
73-84 months
3.49%
Used
1-60 months
2.99%
61-72 months
3.24%
73-84 months
3.74%
Assuming Credit score above 729:
New
1-60 months
2.74%
61-72 months
2.99%
73-84 months
3.49%
Used
1-60 months
2.99%
61-72 months
3.24%
73-84 months
3.74%
My sister works part-time at a university in southern california. Do you know if that would qualify me, or does it have to be full-time?
thebigbobowski
Member
Apologies if this has been discussed earlier in the thread, but at what point in the process are you all arranging financing? Once you've configured or once you've received a VIN number? I will likely be placing my order in the next month or so and don't want to have my credit checked too early.
Wait until you have your VIN. Tesla will reach out and give you an estimated "pro forma" contract. Take that to your lender to get your approval, then when you are closer to delivery Tesla gives you the final contract and you coordinate the final transfer of funds or paper check.
That's plenty I got approved as well 60 mos=2.19%, 84mos=3.29%.
Walk in to the branch they ask what school district you work for, say usc, done. They may make small talk about being a teacher... Just roll with it.
They will ask for most recent pay stub for verification of employment, but beyond that, nothing else
3 G's
Member
Shopped around for my Model 3 and found Financial Partners CU in Downey CA had the best rates albeit promotional...
1.99% for 60 months and possibly up to 72 months on case by case basis. I applied online and got approval in less than 3 hours. They require at least 15% down.
1.99% for 60 months and possibly up to 72 months on case by case basis. I applied online and got approval in less than 3 hours. They require at least 15% down.
nickpants
Member
Tesla just offered me 2.99 on a 72 month via Wells Fargo for my 3.
drewbaumann
Member
I also jumped on FPCU. 1.99 is impossible to beat, based on my searching. The 15% down and 60 month max term are annoying because they apply only to EVs, according to the guy I spoke with today. Still the best deal I could find. Everyone in NJ wants 2.99%.
erthquake
Active Member
I think she would have to become a member (and she should qualify), and then you can join as an immediate family member.
3 G's
Member
They have a long list of employers/organizations eligible for membership (which I don't belong to any of them since I live in Hawaii) but they will accept you if you are an AARP member or belong to another CU. I'm using the latter.
Butane
Member
I looked into this since I have a brother in the area. The woman on the phone was not interested in helping me. Strongly recommended I find a credit union closer to home rather than take up her time. She also said the (advertised as of 4/9) rates of 2.49% were long gone due to the prime rate increase back at the beginning of the month. Also said they would need to have eyes on the vehicle and really only loan through dealerships. I hope you had better luck!
Butane
Member
I checked out a couple more. Xceed shows 1.74% on their website, but I presume that's for very short loans. They offered me 2.49% for 60 months. 36 months was 2% I think. Easy hoops to jump through to join though.
FPCU has been mentioned already, I think. Gotta join AARP ($16) if you don't live nearby, but that's not a big deal. They said the promo 1.99% is still available if you meet the criteria and use automatic payment through them. The guy also said I needed 15% down, despite the requirement being LTV < 95%. Approval is good for 60 days and they recommended I go ahead and apply now. This seems to be the one to beat so I'll report back how it goes.
FPCU has been mentioned already, I think. Gotta join AARP ($16) if you don't live nearby, but that's not a big deal. They said the promo 1.99% is still available if you meet the criteria and use automatic payment through them. The guy also said I needed 15% down, despite the requirement being LTV < 95%. Approval is good for 60 days and they recommended I go ahead and apply now. This seems to be the one to beat so I'll report back how it goes.
I did FPCU also. The 1.99 rate for 60 months works. I am using the money I get from my old car to be the down payment plus a little extra from savings. I joined AARP before I applied. I believe I also had to open a savings account for $100 in order to become a member and get the loan.
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