Model 3 - LR AWD Waiting Room

[SCTes1aMan]

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.

Someone can correct me if I'm wrong but I don't think DCU raised their rates when the feds last raised them. My local credit union told me today that they didn't plan to raise theirs.

 

[Mohammadm]

Did you submit a purchase order that includes your VIN?

I don't have a VIN bro.
day 66 from my order and had 0 updates so far!

 

[doodlebob424]

Thanks! When I entered my address I never got the option for home delivery, it said I can pick up either in Vancouver or Richmond, so I chose Vancouver. I noticed the Vancouver pick up address is different than the Tesla showroom's address where I placed the order though.

Ok me too! They tried to do home delivery but my address was not working on their site for some reason so I got the langley option as my only choice. Yes even the langley one is a different address... it is behind the tesla showroom on the other side of the road or something.

 

[Not That M3]

I don't have a VIN bro.
day 66 from my order and had 0 updates so far!

I would check with DCU again about the rate lock. The rep sounded pretty knowledgeable and said it’s not a rate lock like a mortgage. The rate is only locked once the purchase order with the VIN is in. She knew the car was a Tesla and said the rate would be locked once they get that in and is subject to change depending on the market.

 

[Nexitus]

Ok me too! They tried to do home delivery but my address was not working on their site for some reason so I got the langley option as my only choice. Yes even the langley one is a different address... it is behind the tesla showroom on the other side of the road or something.

Did you ask your SA about the Headlights for the Canadian bound vehicles?

 

[JB47394]

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.

Yeah, but there are so many posts that it's really spammed the thread into a different state of being.

 

[Not That M3]

Yeah, but there are so many posts that it's really spammed the thread into a different state of being.

Y’all really dramatic.

Wish it was 420 again. Chill.

 

[Elindocain]

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

Starone CU 2.29 any term between 36-84 mos

 

[critchamc]

Thought I'd update on OD and EDD changes for others in a similar situation....

Config: M3LR, White ext., black int., Aero, No FSD, Reno, NV, Tesla Financed
OD: 2/3 (this is the date on order agreement: however, my profile was "incomplete" until sometime around 2/11-2/14)
EDD: Has changed about 4 times, though I didn't keep track of specifics. Hit my EDD range 2x and EDD updated by pushing back a few weeks.
Current EDD: May 3-17.............This is the 3rd delivery window I've hit. Nothing in source code.

Curious if there are others in Nevada and Northern, CA in a similar situation w/similar configs.

Hey fellow Renoian. All my order details are in my signature. Our current 2 week windows overlap- hope we are on the same truck!

 

[Elindocain]

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.

But isn't this an "all things while we wait" room? Otherwise we are gonna have a:

EDD changed again room
Finally got my vin room
SA gave me mixed info again room
What accessories are you ordering room
Ceramic coat PPF room
Matrix headlight room
How dare they change a feature room

I'm being intentionally hyperbolic, but you get the point. There are plenty of convos (matrix in particular) that I didn't have any interest in participating in, so I just scrolled past those. I appreciate that all of us are keeping ourselves occupied with all things M3LR while we pass the insane-ever changing time as we wait...and wait.

 

[GrnMonster]

I texted my SA today to inquire about whether my VIN (243xxx) shows that it has the Matrix headlights.

He responded "..I have confirmed your vehicle is equipped with the matrix headlamps."

So take that for what it's worth, hopefully he is correct.

 

[threeputts]

For people that have ordered and not yet taken delivery finance rates are a relavent topic. As are mobile chargers, matrix headlights, ryzen chips, lithium 12V batteries, etc.

 

[Patrick_PACNW]

For people that have ordered and not yet taken delivery finance rates are a relavent topic. As are mobile chargers, matrix headlights, ryzen chips, lithium 12V batteries, etc.

I agree 100%. I think discussion about financing is relevant to this thread, and have no problems with folks in here discussing it.

 

[Not That M3]

I agree 100%. I think discussion about financing is relevant to this thread, and have no problems with folks in here discussing it.

Right. By discussing the finance terms, I’m hoping I can help others with their decisions. I don’t want someone else to take an unnecessary inquiry if it’s not a rate lock.

I contacted Affinity Federal Credit Union and they said it’s a rate lock once the loan is approved. I’m asked a few clarifying questions to see if that requires a PO. Their rate is 2.24%.

They have a fantastic Amazon card that’s better than the Chase one. I digress, I won’t discuss it here.

So to sum up the last few pages:
DCU will keep your application open for 45 days, it’s not a rate lock. Current rate is 1.99% including direct deposit and EV discount.

Affinity Federal Credit Union is 2.24%. Getting more details on if it’s a rate lock and what the rest of the terms are.

Tesla said 2.99% on the phone but via text they said 3.24%. The rate is locked for 60 days however.

Additional benefit to Texans if they trade in their car, you don’t get taxed on the trade-in. Depending on how much you are selling your car for, this may outweigh selling your car to Vroom, Carvana, Carmax, etc.. One should do their due diligence and run the numbers to see what works best for them though. Check with your state for tax laws on trade-ins.

 

[yvr_bbq]

Did you ask your SA about the Headlights for the Canadian bound vehicles?

My SA today told me he doesn’t have the view of the lights or processor. Says it’s more of a service view, which he doesn’t have! Guess I’ll find out when I pick up. Won’t reject if I don’t have the matrix lights though but would still suck.

 

[Jakob95]

I just got a VIN and have a few questions in regards with financing. I want to finance with Tesla. I was planning to put $4,250 down and pay the rest in 72 month payments. However when I put that and placed all my information, I was approved at 3.24% APR, 72 months, with $13,174.68 for me to put down. Is this rate locked, or is there a way I can put a lower down payment so I can pay higher monthly payments?

 

[PinSeeker]

I received a VIN! My final EDD is (hopefully) May 17-23. I asked my SA if she had a firmer idea of when I would actually pick up, and she replied "probably on or after the 20th."

CONGRATS! Mine has to be coming soon...

 

[095179005]

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.

If my eyes do not deceive me, those look like matrix headlights

 

[gabeurl]

Do they still use U.S. Bank? If they do and the rate is exactly the same, U.S. Bank currently shows "Rates from 3.54% to 5.74% APR"
-not great.

Would be interested in more information. I won't apply for another loan ahead of time unless I can get confirmation it's a rate lock before I provide my VIN.

I reapplied today and the bank was BMO Harris Bank for 3.24%

 

[E90alex]

If my eyes do not deceive me, those look like matrix headlights

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correct