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Let's talk financing rates
- Thread starter flashflooder
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- Model 3
hurjio
Member
I tried submitting a pre-approval letter and got denied. The e-mail they responded with says "In order to be considered for the Rate Beat Program, you will need to provide an official approval document, showing the same loan purpose, loan amount, loan terms, and same payment method (invoice or auto pay)."
If LS doesn't call to confirm, couldn't someone just edit their pre-approval letter to include the necessary info and send that to LS?
I am looking to apply for their 72month, did you get them to rate match? If so, where did you go to first? I am already a member of CUTX. Thank you!
I picked up a 72 month loan through TowerFCU at 2.99%. All that was required was to donate $35 to TowerCares Foundation TowerCares Foundation | Tower Federal Credit Union | MD All my local CU's are up around 4% for that term length.
That was their advertised rate on the link I posted, no rate match. It should still be valid to my knowledge, and they finance a lot of Tesla's. It did take almost a week for my check to go through, but otherwise no issues. Should be picking up my car Saturday. Had a DMV paperwork issue that delayed it another week.
tslamir
Member
Hi everyone, my Tesla Model 3P is ready to be picked up next week and I haven't figured out the financing yet! Looks like this thread has died down a little bit. I live near Chicago and I'm looking for an easy to join CU that I could either just go with or do a rate match with Lightstream. For anyone who did this recently, which CU have you had success with that didn't require too many hoops to jump through to join?
I am in Indiana/mid-west and kinda in your boat with my M3P delivery date coming soon. From what i gather, most of the local CU's rates here(IN) are not anywhere near what is being spoken on this thread. Google for a 'Tesla Loan Tracker' for a good number of listings along with this page.
Best bet is to go ClearPath FCU with the $5 donation. I just applied for mine. Already got an unsecured loan approved from Lightstream i am looking to do a ratebeat if i get approved from ClearPath FCU.
Slumpey326
Member
I believe a vehicle loan from clearpath will only work if you are purchasing the vehicle in california. I tried myself living in Florida and was denied even though I have excellent credit. The reason why is not being in California.
tslamir
Member
I ended up with Allegacy @ 75m 3.39%. First, joined here: Join Allegacy | Allegacy Federal Credit Union. I funded my account with just $5 but should have funded with $15 so they could take the donation out later. I actually got my account number and membership number right away. Second, I called in the next day to tell them I wanted to apply for the loan, they told me I could do that right away but needed to make sure I had enough funds in the account for the donation which is $10 bucks. Third, I applied and right away started calling to make sure they were processing my app. Fourth, once I found out who my loan officer was (below),I connected her with my Tesla delivery manager over email and told them tell each other exactly what they needed. Provided all the documentation required for Allegacy to approve me and they overnighted a check to Tesla. This all took like 4 days!
Paula Moore
Loan Interviewer, The Lending Center
P 336.774.2726 | F 336.774.5058 | E [email protected]
What did you ultimately do for the financing? Also in FL and want to find a CU/bank to compare vs Tesla's leasing but don't want potentially something going wrong at closing.
Cool. Congrats on your Tesla.
I got turned away from Sommerville CU for my debt to income ratio being high although Lightstream didn't have any problem issuing a unsecured loan. Fairwinds ended up needing me to go in person to verify identity since electronic verification was not established.
Now onto PFCU. Just hoping to get atleasat an approval so I can take that to Lightstream for ratebeat. This is too much effort.
I got turned away from Sommerville CU for my debt to income ratio being high although Lightstream didn't have any problem issuing a unsecured loan. Fairwinds ended up needing me to go in person to verify identity since electronic verification was not established.
Now onto PFCU. Just hoping to get atleasat an approval so I can take that to Lightstream for ratebeat. This is too much effort.
I am in South Florida and it does not look like I'll qualify:
Anyone currently living or working in, or business operating in, Orange, Seminole, Volusia, Osceola, Polk, Brevard, Lake, Hillsborough, Manatee, Pasco, Pinellas, or Sarasota counties can become a FAIRWINDS member. UCF students, faculty, staff, alumni are also eligible to hold membership, as well as members’ families living outside any of the eligible counties.
Try Suncoast if you have them down there. I got 2.75% on a 72 month about 3 weeks ago, but I think rates have gone up to 3% since then. They were great to work with.
You just need to be a member of the lion nation football club to also qualify for membership. I am not in FL but I could meet the eligibility requirements by being a member of this club. It's a $59 per yr fee but I wasn't charged upfront
Thanks for the tip. Could not find their exact rates online, they seem to just list "starting from" prices. Found a local CU with 3.09% for 60m - Tropical Financial. No news from Tesla yet at all on delivery date, so I guess I have a bit more time to look around.
I just put in an application with CUTX. I am also in Fort Worth. I hope they still have this rate for me! If there is any sort of referral perk, please let me know!
Aaaand, they told me it ended November 1st. Anyone know of any other promotional offers for Texas?
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