Let's talk financing rates

[voip-ninja]

So are you saying that you can't join the CU by becoming a member of the historical society? Why not?

It looks like the CU indicates members of certain nonprofits and charitable organizations who live in specific counties or townships in NJ are eligible but by all means join the historical society and see if it works out.

 

[rdlink]

Ad hominem, nice

And congrats on learning how to use the Search function! (You're welcome )

Didn't search for it. Found it elsewhere. Hey, if you're gonna be a d*ck you deserve to be called one.

 

[SoCalGuy]

Didn't search for it. Found it elsewhere. Hey, if you're gonna be a d*ck you deserve to be called one.

Lol *ok* keyboard warrior.

 

[debuggr]

Here's the number:
Lightstream: 866.635.1330

Remarkably so much easier to type that than being a complete a**, trying to prove a point.

Thank you, @rdlink

 

[Vulcanized]

Still not open to the general public, even via charitable donation.

Still not open to the general public, even via charitable donation.

Access to these lower rates for the general public are drying up.

National average new car loan rate for 60 months is 4.8%. I expect 5% soon but guess we’ll see.

I agree. I applied at Lightstream late last week and I received a depressing 4.19% rate secured loan even with excellent credit with a 820+ FICO score. This happened while I was actually getting the lowest possible APR on other banks and CUs. I don't even want to attempt their Rate Beat program anymore after they offered the highest (and I think unfair) rate I ever gotten in years.

 

[C141medic]

I agree. I applied at Lightstream late last week and I received a depressing 4.19% rate secured loan even with excellent credit with a 820+ FICO score. This happened while I was actually getting the lowest possible APR on other banks and CUs. I don't even want to attempt their Rate Beat program anymore after they offered the highest (and I think unfair) rate I ever gotten in years.

You gotta shop around. Check out this members handy spreadsheet
Tesla loan comparison spreadsheet - auto updates hourly

 

[debuggr]

I agree. I applied at Lightstream late last week and I received a depressing 4.19% rate secured loan even with excellent credit with a 820+ FICO score. This happened while I was actually getting the lowest possible APR on other banks and CUs. I don't even want to attempt their Rate Beat program anymore after they offered the highest (and I think unfair) rate I ever gotten in years.

You gotta shop around. Check out this members handy spreadsheet
Tesla loan comparison spreadsheet - auto updates hourly

+1. I also got a pretty high rate from LightStream initially. If you think about it ... LightStream has to offset the cost of their Rate Beat program somehow ...

 

[njsrikar]

Question for folks who financed and picked up your car.

Is it ok if the check amount given by the CU is greater than the amount due to Tesla? The check is written/printed in Tesla's and my name together.

 

[C141medic]

Question for folks who financed and picked up your car.

Is it ok if the check amount given by the CU is greater than the amount due to Tesla? The check is written/printed in Tesla's and my name together.

The additional amount is considered a donation to Tesla but you can write off in your taxes.
Seriously though, you’ll get a check from Tesla for the difference.

 

[njsrikar]

The additional amount is considered a donation to Tesla but you can write off in your taxes.
Seriously though, you’ll get a check from Tesla for the difference.

lol
thanks!

 

[osubuckeyes88]

On mobile now, does anyone know what the quickest way to contact/loan match with lightstream? Do I just e-mail them with the pre-approval letter and that's it?

 

[Runt8]

On mobile now, does anyone know what the quickest way to contact/loan match with lightstream? Do I just e-mail them with the pre-approval letter and that's it?

This is the response I received when I asked about rate matching:

In order to be considered for the Rate Beat Program, you will need to provide an official approval document (not in email format), showing the same loan purpose, loan amount, loan terms, and same payment method (invoice or auto pay).

Please review the Rate Beat Program website for more information
Rate Beat

If you would like to be considered, please reply to this email with the official approval document.

Some people have been able to use pre-approval documentation to get the rate match but for the most part they require an actual approval.

The email address is [email protected]

 

[osubuckeyes88]

This is the response I received when I asked about rate matching:



Some people have been able to use pre-approval documentation to get the rate match but for the most part they require an actual approval.

The email address is [email protected]

Does light stream need an actual VIN on the approval letter?

 

[follow.johnny]

My initial rate from Tesla Financing (Through TD Auto Finance) they gave me a APR of 3.8% roughly the average that other been quoted for the lowest I've saw was 3.2 from Tesla.

I went ahead and shopped around and found my local credit union gave me the best rate:
2.8% / 72 months (SchoolsFirst Credit Union in Socal)

 

[T3slaMecca]

@HelloJohnny you can also check out the rates here: Tesla loan comparison spreadsheet - auto updates hourly

 

[follow.johnny]

@HelloJohnny you can also check out the rates here: Tesla loan comparison spreadsheet - auto updates hourly

Thanks for this!

 

[Runt8]

Does light stream need an actual VIN on the approval letter?

They didn't need one from me, but I was able to get an unsecured loan. I'm guessing they would need one for a secured loan.

 

[HostileHarry]

Lightstream just approved me for Unsecured / 48 month / 3.69%... That's a hard pass from me. Local CU's are offering much better.

 

[tentimesodds]

Lightstream just approved me for Unsecured / 48 month / 3.69%... That's a hard pass from me. Local CU's are offering much better.

That's why you do the rate beat program with Lightstream.

 

[MatildaModelY]

Anyone with decent luck getting a stellar rate in the Chicago area? I have excellent credit but the best I'm seeing from the big banks and credit unions is around 3.8%. I don't get it...