Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.
Register

Let's talk financing rates

This site may earn commission on affiliate links.
While reading here and there found a note that GAP like insurance is available through your car insurance policy. Price was too low to believe. Currently with Progressive and they are covering only up to 25% on top market price. (i.e. loan is say 14k, market value 10k. They would cover 12.5k and you are on the hook for just 1.5k instead of 4k.) Anyway this appears to cost me $5.50 for 6 months. Crazy.
 
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!

Check here for some Texas based financing, but start looking nationally and at other credit unions. We have a Texas section and we are getting urban chargers in Fort worth installed behind the Montgomery plaza center right by Doc's. No clue on final date on that yet.

Who has the best finance rates right now?
 
Since I got the call from Tesla this week, I went ahead and applied for my loan. I joined Delta Community Credit Union. The rates had gone up .1 % since the rates in January but many of the CUs I was looking at had gone up since then (assuming due to the recent market ‘correction’).

Rates: New Car Loans | Used Car Loans - Delta Community Credit Union

They were great in working with the Tesla inside sales advisor and took care of getting the loan approval document to the ISA to get my delivery set up. They took care of everything and were super accommodating about everything. The ISA told me that it was easier for Tesla if I brought the loan check with me to the delivery instead of them processing things with the CU. I mentioned that to the CU and they contacted the ISA and took care of everything and kept me in the loop. From the time I applied for the loan to the time the ISA had the approval paperwork was less than 20 minutes! And told me they would overnight the check to me so I would be able to schedule my delivery ASAP!

I chose to do the loan process over the phone and I’m glad I did, the CU agent I dealt with even told me how to get $50 for opening an account with them (you have to open an account in order to get a loan). When I called to apply for the loan, they could have just processed everything and not even mentioned anything about the referral $50 program. But she suggested I: 1) join the referral program, 2) open an account, 3) apply for the loan. She could do #2 and 3 over the phone or I could do them online, but joining the referral program FIRST was key.

So if you are planning on using Delta Community CU and need a referral, feel free to use mine below.

Also let me know if anyone wants the CU agent’s name and contact info and I can PM it to you.
Please PM me your CU agent's contact info!
 
I just ordered a M3 and am looking at financing. @myblubu could you send me info on Delta Community Credit Union please?

@myblubu, could you please kindly send me info for Delta Community CU? I ordered a model 3 SR yesterday and looking for financing option as well. thanks a bunch!

No problem. I just sent you both a PM with details on how to get $50 for opening an account with them!
 
Question about some of these CU - are they not as strict on eligibility to become a member as their websites imply? The Delta CU site appears like you need to be a resident of GA at least yet I'm seeing a lot of people asking for info that do not like GA in their profile. Am I missing something?