I applied for loan financing through Tesla with preffered down payment of 4500 for the Model 3 long range. The starting interest rate mentioned before submitting was around 2.49% APR, but after I my application went through it came back with a down payment of ~15,000$ and apr of 6.28% which seemed a little unreasonable to me.
So I called them to cancel the financing and look for a 3rd party loan but was denied from 3 separate lenders (lending tree, alliant, capital one) but I have no idea why. My credit score isn't even bad (740) and just finished paying off 60k+ in student loans. I'm afraid to go back through Tesla, since theyll do another hard credit check and probably give me an even higher interest rate than before.
Has anyone else experienced anything like this? Should I look for another lender or just go back through tesla? since they're the only ones who have offered me anything so far.
Much appreciated.
So I called them to cancel the financing and look for a 3rd party loan but was denied from 3 separate lenders (lending tree, alliant, capital one) but I have no idea why. My credit score isn't even bad (740) and just finished paying off 60k+ in student loans. I'm afraid to go back through Tesla, since theyll do another hard credit check and probably give me an even higher interest rate than before.
Has anyone else experienced anything like this? Should I look for another lender or just go back through tesla? since they're the only ones who have offered me anything so far.
Much appreciated.