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I was previously bummed out that Fed Choice ended their 1.49% APR for 72 months on June 1. So their lowest rate is currently sitting at 2.49% APR for 72 months, with an advertised 0.25% APR rage reduction. I had the plan of applying to Fed Choice, get the extra 0.25% APR off to get down to 2.24% APR, then apply to Lightstream to get an additional 0.1% APR off to be at 2.14% APR for 72 months. Seems like a hassle to jump through hoops for lower APR but I'm trying to make sure the monthly payment is with my budget.

After applying for to the vehicle loan at Fed Choice, I found out from the loan officer that I cannot receive the 0.25% APR off promo for applying an auto loan online. The loan officer stated that I'm getting a better deal: 1.00% APR off because I'm a new member. So now I'm eligible for 1.49% APR for 72 months. I'll probably not bother having Lightstream beat such rate at the moment because I'm already deep into the loan process and don't want to deal with fees closing an account I just opened just to get a loan approval request.

So the 1.00% off promotion seems to be still active for new members, although probably not advertised on the website.

Interesting. Any stipulation to get into this credit union?
 
Hey Guys,

My advice for you anyone looking for financing is to go through LightStream. It will be an unsecured loan and they will match any interest rate that you get pre-approval for as long as the loan term and amount is the same. The real benefit is here is that you do not have to wait for the MVPA (purchase agreement) to get funded, LightStream will fund you almost immediately into your checking account. Tesla is really bad at getting the MVPA to you quickly (they claim 1 -2 days before delivery). Most lenders need this MVPA before they will give you a check to give to Tesla. It can take a few days for the lender to supply the check, which will ultimately delay your delivery.
 
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Hey Guys,

My advice for you anyone looking for financing is to go through LightStream. It will be an unsecured loan and they will match any interest rate that you get pre-approval for as long as the loan term and amount is the same. The real benefit is here is that you do not have to wait for the MVPA (purchase agreement) to get funded, LightStream will fund you almost immediately into your checking account. Tesla is really bad at getting the MVPA to you quickly (they claim 1 -2 days before delivery). Most lenders need this MVPA before they will give you a check to give to Tesla. It can take a few days for the lender to supply the check, which will ultimately delay your delivery.
Very much agree with this, though we could help people find the best CU financing first that they could then beat with LightStream.
 
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Reactions: rlb4
Hey Guys,

My advice for you anyone looking for financing is to go through LightStream. It will be an unsecured loan and they will match any interest rate that you get pre-approval for as long as the loan term and amount is the same. The real benefit is here is that you do not have to wait for the MVPA (purchase agreement) to get funded, LightStream will fund you almost immediately into your checking account. Tesla is really bad at getting the MVPA to you quickly (they claim 1 -2 days before delivery). Most lenders need this MVPA before they will give you a check to give to Tesla. It can take a few days for the lender to supply the check, which will ultimately delay your delivery.
Does LightStream have any unique eligibility requirements, or will they lend to anyone?