Model 3 - LR AWD Waiting Room

[Panel Gaps]

Thanks for the quick feedback.

When did you apply? Was that around 6 weeks ago then? I think the rate was lower then. Is your credit above 740 (if you don't mind me asking).


I'm on hold with Tesla now to see if I can get some updated rate information.

I applied in March and my score is under 740 but I do have two recent car loans that have been paid off. One loan a year early.

 

[Not That M3]

The crummy thing with Tesla financing is that you have to put down-payment plus tax, license, registration....I didn't want the heavy cash outlay. If I'm wrong on cash requirements, someone please correct me. Thankfully I was able to find Credit Union financing with 90 day rate lock, 2.29%. Still shopping though, asked for rate match with my other bank and they think they can do it, just waiting to hear back.

Which CU did you find again? Were you the one with Northrupp?

 

[Panel Gaps]

Update: Per Tesla - Current rate is 2.99% with a 60 day rate lock.

That is really good to know because I was anticipating a much higher apr once I reapply. Thanks for the info.

 

[Not That M3]

Update: Per Tesla - Current rate is 2.99% with a 60 day rate lock.

Even with a Fed increase, I don't think it would increase DCU a whole point in the next 2 months. I could be wrong though. Does anyone want to share any opposing thoughts on that?

I texted my Welcome Text and they JUST told me it is 3.24%, although over the phone, I was told it was 2.99%

 

[Not That M3]

That is really good to know because I was anticipating a much higher apr once I reapply. Thanks for the info.

read my next post LOL

 

[Not That M3]

The crummy thing with Tesla financing is that you have to put down-payment plus tax, license, registration....I didn't want the heavy cash outlay. If I'm wrong on cash requirements, someone please correct me. Thankfully I was able to find Credit Union financing with 90 day rate lock, 2.29%. Still shopping though, asked for rate match with my other bank and they think they can do it, just waiting to hear back.

Although, you save money if they can give you a good trade in right? As you won't get sales tax (at least in TX) on the trade from what I read.

 

[LiquidXTC]

Two weeks out from my two-week window, my birthday is Friday, could I get VIN Elon. I have floor mats all around, a screen protector, a cup holder insert, and jack pucks ordered. What else am I forgetting?

 

[Panel Gaps]

read my next post LOL

Not surprised you got two different answers from two different people. That's Tesla for you lol

 

[SkunkApe]

Without your VIN\PO? Maybe he interpreted that you had your VIN and purchase agreement uploaded.

Yeah that possible

 

[Not That M3]

Not surprised you got two different answers from two different people. That's Tesla for you lol

Pls text your guy too and lmk what they say.

 

[pwlorraine]

Did you check this morning and again now? This will help us determine when the app updates. So far we know 8am EST and 4pm EST.

I checked yesterday and again today at around 1:00 pm. Yesterday check was the original EDD and was around 2:00 pm - the date had moved around by 5 days over the last month. Today it took the big jump later. I don't know when it updated other than sometime over the past 24 hours.

 

[Mohammadm]

DCU rep told me the rate is locked for 45 days.
I asked that question directly.
Otherwise, this 45 days deadline means nothing.

 

[SCTes1aMan]

Two weeks out from my two-week window, my birthday is Friday, could I get VIN Elon. I have floor mats all around, a screen protector, a cup holder insert, and jack pucks ordered. What else am I forgetting?

I'm not a big accessories guy but I have bought a few things. The one many seem to overlook is the lock for J1772 adapter. You can find a lot of videos with people taking your charger cord out if you don't use the lock. Not to mention that they are dirt cheap. https://amzn.to/3vWDpJI

 

[SCTes1aMan]

DCU rep told me the rate is locked for 45 days.
I asked that question directly.
Otherwise, this 45 days deadline means nothing.

I was just texting with Tesla and was asking some questions about my financing and how it's ending soon. He mentioned not pulling credit and added this, "I suggest you wait to apply again until you have a VIN assignment so that we can ensure you are within 30 days of delivery."

I have one of those SAs that never give you any hope. lol I guess that's better than giving you false info just to make you feel better.

 

[Not That M3]

DCU rep told me the rate is locked for 45 days.
I asked that question directly.
Otherwise, this 45 days deadline means nothing.

Did you submit a purchase order that includes your VIN?

 

[T-J-]

Any chance all of you financing people could start a financing thread and keep this one related to deliveries? So many pages to go through and it was all financing related stuff.

 

[SCTes1aMan]

I try not to share too many videos here but I thought while we're waiting you may want to watch today's M3LR review by CarMax. Spoiler, it's a lot about the range and they found it was able to get 345 miles on a long trip.

 

[SCTes1aMan]

Any chance all of you financing people could start a financing thread and keep this one related to deliveries? So many pages to go through and it was all financing related stuff.

I think many feel it's relevant because you're also addressing the delivery times and proper planning for it all to work out smoothly.

 

[phishphan]

I was just texting with Tesla and was asking some questions about my financing and how it's ending soon. He mentioned not pulling credit and added this, "I suggest you wait to apply again until you have a VIN assignment so that we can ensure you are within 30 days of delivery."

I have one of those SAs that never give you any hope. lol I guess that's better than giving you false info just to make you feel better.

Mine is the same but he’s been there for a while so he’s seen it all.

I decided against have credit dinged twice and possibly jinxing my delivery lol. I’ll have it paid off in a year or two anyway so the extra interest won’t matter all that much.

 

[lrm3]

I applied to DCU today and got approved. 1.99% for 60 mos. However, the rate is not locked in. I was only told this after my application had been submitted and approved. Had I known this information before, I would have waited.

I understand everyone's situation is different but here's what is really going on. Feds are poised to raise rates tomorrow by at least 50 basis points (0.50%). In my case, that would mean a roughly $7 increase in my monthly payment since I am putting 25% cash down. But again, everyone's case is different.

A $7 payment increase is not enough reason for me to repeatedly be taking hits to my credit. Should my offer expire before I get my car, I will wait until I have a VIN and actual delivery date before making any moves on financing.

Again, applying to DCU DOES NOT lock in your rate. If a rep tells you that, they are most likely just trying to get an application out of you.