I just talked to Xceed, and they quoted me 2.75% for 60 months with autopay for a 2018 Model 3, same as on their web site. I will probably apply with them or Everence and get LightStream to beat it.
If you qualify for an unsecured loan with LightStream, they just send you the money and then you pay Tesla by ACH or cashiers check. Much easier than involving a financial institution.I see a lot of people waiting on the final contract before they have to go to their local CU in person to get a check. Does using an online CU improve the delivery process?
In Iowa, I went through Financial Plus Credit Union:
Currently 36 - 66 months for 2.24% - the only string is to open/maintain an account for 10 days - no upfront fees or account fees. Honestly, I got tired of looking for 1.99 beyond 36 months without fees. When I signed up last week they said I'm the 4th Tesla loan they've processed in the last month, some of them from California.
For those that financed with FPCU and Lightstream, what did you send as proof for the match at Lightstream?
This wasn’t true, for me. I applied at my CU first, and after my approval there asked them for a letter detailing my approval including rate, term and amount. I then applied to LightStream and was approved there at a higher rate, and sent in my letter from the CU. They adjusted the APR to heat the CU within an hour.Lightstream requires an official Loan Agreement from a competing lender. Needs to be the official loan agreement, not a pre-approval lender. Lightstream terms also need to be the exact same term and loan amount as the competing offer.
The way I did it was get pre-approved with lightstream first, for whatever rate they are offering. Once lightstream pre-approves you, start shopping around for cheaper loans. Send the loan agreement from competing bank and thats it. All this took 2-3 days for me. Lightstream is super fast.