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Let's talk financing rates

Discussion in 'Model 3' started by flashflooder, Nov 22, 2017.

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  1. Sg911

    Sg911 Member

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    Fort mill SC
    Anyone buying and financing a Tesla outside of California lol? It would be nice to hear some NC/SC buyers
     
    • Like x 1
  2. Trevor B

    Trevor B Active Member

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    Nope! It's 2.99%, before the .50% discount
     
    • Informative x 1
  3. FlyNavy01

    FlyNavy01 Member

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    Jacksonville, FL
    They just raised it a day or two ago. Makes sense as I'm sure they were swamped with inquiries.
     
    • Informative x 1
  4. rlb4

    rlb4 Member

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    Northern NJ
    Their rate sheet says it was updated on 7/11. Still not bad.
     
  5. Trevor B

    Trevor B Active Member

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    Inquires from here? ;)
     
  6. joshk6656

    joshk6656 Member

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    Tulsa
    Has anyone with State farm ever tried to use them for a loan? Their loans include gap insurance. After being rear ended, and my car being a total loss, I've been talking to them about things, and they won't give me any info yet, because I don't have a VIN.
     
  7. lee619

    lee619 Member

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    #627 lee619, Jul 11, 2018
    Last edited: Jul 11, 2018
    Do not go with plcu. When I was shopping for my loan the loan officer was so rude and disrespectful. Just because I'm a young guy, he seemed like he was trying to take advantage of me thinking I was naive. He would answer questions with different terms thinking I didn't know what he was talking about. I felt like this place was very scummy compared to other banks in terms of service. Their rates are low for a reason (people are probably avoiding them like me).

    I went with fpcu instead and they have been more than helpful and amazing! There rates are just as good or better for the 60 month terms.
     
  8. omgwtfbyobbq

    omgwtfbyobbq Active Member

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    Haha, I thought the exact opposite. FPCU wouldn't give me a rate lock and by the time I had my delivery scheduled raised their rates .25%. PLCU on the other hand stuck with the 2% across two+ weeks and me working with two different people. I have a feeling we both had bad luck at the opposite credit union.
     
  9. Dream Weaver

    Dream Weaver Member

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    Michigan
    Everence has a cap of 100k. Super easy to sign up and become a member.
     
  10. lee619

    lee619 Member

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    San Diego
    Haha yah maybe, the loan officer just warping my question into other things to create a answer just left a bad taste in my mouth.
    Like when i asked "Can you make you make early payoffs without any penalites", he would reply "Yes you can make prepays without any penalties." Although hes not outright lying, he obviously knew what i was asking but made sure he was getting as much interest as possible from me...
     
    • Informative x 1
  11. omgwtfbyobbq

    omgwtfbyobbq Active Member

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    They wouldn't even offer you a simple loan? Oh jeez...

    I have a feeling all the Tesla owners these banks/CUs are getting are spoiling their loan officers.
     
  12. Trevor B

    Trevor B Active Member

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    Does FPCU have a prepayment penalty?

    I'm thinking of getting the 5 year option for starters to keep the payments on the low end, but will definitely pay it off much before that ... just need the flexibility.
     
  13. a.void

    a.void Member

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    Super easy? It looks like you need to be Mennonite. That's not easy
     
  14. lee619

    lee619 Member

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    When I asked they were very straight forward to me. "you can make principal only payments with no penalty, just schedule it with your monthly payments"

    Thats exactly what I wanted to, the flexibility to be able to pay it off earlier or make more principal payments to save on interest! So far FPCU, especially Manuel have been really helpful so far.
     
    • Like x 1
  15. 9erDog

    9erDog Member

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    Location:
    Cypress, CA
    I've been with FPCU since they were Rockwell Federal Credit Union back in the 80's (1980's that is ;)) and have found them to be honest and forthright. They told me that the rates were not locked but mine stayed the same until my purchase was completed. I would recommend them highly. No prepayment penalty to answer a question above. Call them and discuss if you have concerns or questions.
     
    • Like x 1
  16. Dream Weaver

    Dream Weaver Member

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    Michigan
    You don’t have to be a Mennonite if the following statement is true to you:

    Shared values: I share values consistent with the stewardship principle that all I am and all I have are from God (Psalm 24). In response to God’s generosity, I practice stewardship of all my resources.

     
  17. Knightshade

    Knightshade Well-Known Member

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    NC
    We're all crazy Mennonites, living in an Amish paradise....
     
    • Funny x 2
  18. ddm3

    ddm3 Member

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    Mar 5, 2018
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    Location:
    San Diego
    I went with PLCU at 1.5% for 48 months. They were great. I asked about rate lock period because I didn't know when I would get a VIN. They assured me that they'd lock it for as long as I needed. They'd done quite a few Model 3 loans so they were familiar with the VIN uncertainty. The manager would call periodically to see if there was anything they could do during the VIN wait. Going through the loan paperwork was extremely quick and easy.
     
  19. a.void

    a.void Member

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    Jun 12, 2017
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    286
    Location:
    Ohio
    Any membership issues for folks outside Medina? Central Ohio doesn't have squat for good rates.
     
  20. brobinson

    brobinson Member

    Joined:
    May 23, 2018
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    Location:
    Ohio
    afaik they are only open to people that live in Medina county or have family that are members. I would give them a call, though. They are very helpful.
     

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