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7BaconTacos
Member
I ended up not going with them over this reason. The packet they sent me by mail wanted pretty detailed accounts of all our assets and a bunch of other things that I didnt feel pertained relay to them for a 60K auto loan.
So I ended up going with Afinity FCU and got a 2.86 @ 84/m rate. So yes it was .86 more on the loan but in my mind was worth it to do everything online and not have to give detailed records and other detailed information over (other than the basic items that any normal loan company asks for of course).
Also AFCU has a pretty good rate of return on their savings account, so I am actually thinking of moving my savings accounts over to them to get the better interest rates. If you go with them they will go over the specifics of all of that with you. They are very detailed and thorough on things, and I like that also.
7BaconTacos
Member
No problem at all.
Not trying to sway one way or the other, if you feel giving up that info and doing things via snail mail is worth it, by all means, go for it. From what I understand after the initial snail mail portion everything else is online. So it might not be as bad as what I was making it, but it just turned me off with what they were asking for, for some reason.
My local credit union is balking at giving me their additional equity rate discount as they somehow think the trade in value on the ‘22 M3LR is around $50k despite me sending in what KBB has it at. They are the only ones willing to finance the TTL though. I’m locked in at 3.99 for 72. The discount would have been .25 on the rate.
When I first ordered, the only option was for pickup. When it was time to schedule my delivery, home delivery was the only option. Not sure if that was due to the end of quarter rush. I think your SA should be able to change it for you.
Man, an 84-month car loan seems to be not the best idea. Please don't take it personal but that's a long time for a car loan.
All depends. I agree that is a long time to pay for a car but it depends on how much your down payment is and your interest rate. Also Tesla has no early payoff penalty. For myself I am financing about 35% of the car and the rest is cash ( this was an easier decision when APR was lower but w.e.). This will allow me low monthly payments of like 300-400$. Then in a few months when I catch back up I will be sending in 1-2k/ month. But if for some reason life happens I can always cut back again. Under this plan I expect to pay off a 72 month loan in about 2 years
E90alex
Active Member
Buying a new car is not the best financial idea in general and yet here we all are.
Interest rates are rising again and economy is heading towards a recession so this might not apply as much, but when interest rates are low it doesn’t make sense to pay cash for a big purchase because you can usually get a bigger return investing the extra cash instead of dumping it into a depreciating asset.
It all depends on your financial situation. I could afford a 36 month loan payment but it would leave me no breathing room I case I have some extra expenses one month. So I’m getting a 72 month loan and paying it like a 36 month loan. If I need some extra cash for something I’ll just pay the minimum payment for a couple months.
A lot of people are stretching themselves just to get into a Tesla when they would have normally bought a cheaper car like a Camry or Prius or kept their current car for another 5-10 years. If you’re someone where even the 72 or 84 month payment is on the edge of your budget then I would say that’s not a good financial move and you’re buying more car than you can realistically afford.
Exactly. I realized my post got cut off but this is exactly what I was going to say. If you can afford the shorter loan get the longer one and pay it off quicker. This leaves you more breathing room.
Also you may pay a few decimals of a % Apr more but this really isn't that much more and is even less if you pay off the loan quicker
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exactly!! I think many people are doing the same thing. Take the longer payoff/ smaller minimum payments and the start paying off the principle. This way if needed you can use your funds for unexpected things and not be tied to the higher payment
7BaconTacos
Member
Anyone had any luck recently getting an earlier delivery date by upgrading their M3LR order to an M3P? Seriously tempted, especially considering the $5k difference (LR $55,990 + $2k accel boost = $57,990 vs. $62,990 for the M3P)?
I know this topic is discussed into perpetuity, but curious if anyone has had any recent luck. Thanks!
I know this topic is discussed into perpetuity, but curious if anyone has had any recent luck. Thanks!
Right now the factory is closed so even the P orders are sitting. Once they restart yes you can get an earlier EDD with a P
I went to a Tesla dealer with a friend who is looking a couple of days ago and was talking to the SA about this actually. He confirmed, what that video also showed, that they are currently on maintenance. He said Tesla has told them to start expecting NY cars by the end of July. So since it takes about 2 weeks to ship his guess was sometime next week the lines would start up again. He also said they may not fully ramp up though right away but he's not sure of the logistics of that. A few other people have also posted around the forums here that they were told similar things that Tesla would shut down for the week of fourth of July.
In the video and also what people are reporting you can see there are a few leftover cars. Tesla's own Q2 report confirms that they made about 4000 more cars then sold so likely still a few outstanding Q2 orders that for one reason or another didn't ger delivered. So some people might still get their car very soon especially if they were supposed to be Q2, probably more West Coast I'd assume.
Very soon the factory will be up and running. Tesla only makes money when YOU actually take the car (unlike a normal dealer) so they are very incentivized to get the lines moving. The video also showed the gigapress is running and possibly the paint lines? so once the production lines restart things should start cranking again.
Things are at a standstill right now so patience is key. My EDD hasn't moved in 2 weeks but thats ok since no one else really has either and this is the reason why. If someone is looking to upgrade to P just to jump a line this isn't a good time to do it though.
No that's isn't necessarily true. A VIN means you have a car that is made. I think you get a text saying when your car leaves the factory. Someone who actually took delivery can probably confirm.
Wow thanks for all this info. I have a late-May OD and my EDD changed only once about one month ago. No movement since
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