New finance rates

[gooman]

I heard that tesla is going to be offering 1.49% for 72 mo starting on Monday Oct 2, 2017


Thanks

 

[boaterva]

The real question would be, when does Alliant start 0.99 again...

See if this flips over next week or not...

Tesla Car Loans from Alliant

 

[ab26]

One tip: You can apply for a Alliant loan at 0.99% on 30th September with a 60 day lock. This means that as long as you take delivery of your car before 30th November, you will get the 0.99% rate.

 

[cantbechanged]

Good tip for those that qualify for Alliant membership. Thanks.

 

[boaterva]

Good tip for those that qualify for Alliant membership. Thanks.

Anyone 'qualifies', you either get the loan to qualify, or, if you want to set things up in advance, you donate $5 (I think it is) to some foundation. Look at the list for 'how can I join Alliant'. Did that way back to be ready. Then someone said all you have to do is apply for a loan. But it does get some of the 'sign up, make a login' overhead out of the way.

 

[Musterion]

Besides the 60-day lock, is there any advantage to going through Alliant directly rather than through Tesla Lending (which deals with 4 banks apparently, not sure if Alliant is included)? I see in the details that Alliant has additional stipulations on payment to get lowest interest rate. I also wonder if they include any penalties for prepayment or extra payment of principal, and/or a minimum time you must keep the loan product open before payoff. The Tesla Lending agreement prohibits all that.

 

[boaterva]

Besides the 60-day lock, is there any advantage to going through Alliant directly rather than through Tesla Lending (which deals with 4 banks apparently, not sure if Alliant is included)? I see in the details that Alliant has additional stipulations on payment to get lowest interest rate. I also wonder if they include any penalties for prepayment or extra payment of principal, and/or a minimum time you must keep the loan product open before payoff. The Tesla Lending agreement prohibits all that.

I don't think there's any penalty to going direct to Alliant (and Alliant is one of the four Tesla has...) I did it to get preapproved to be sure there wouldn't be an issue when I ordered. Also, I believe you get the 0.99 if your credit score is over 750 or something like that. YMMV....

 

[Musterion]

I don't think there's any penalty to going direct to Alliant (and Alliant is one of the four Tesla has...) I did it to get preapproved to be sure there wouldn't be an issue when I ordered. Also, I believe you get the 0.99 if your credit score is over 750 or something like that. YMMV....

Ok thanks. I did the Tesla application and US Bank said they only offer max 100% financing and gave me that without any required documentation. I asked the Tesla Lending folks why their “max” amount in calculator was higher and they said they could ask Chase, who then offered 105% also with no docs required so we went with that since Tesla also verified no prepayment penalties. However our delivery was bollocks and I ended up with a loaner and Tesla asking me if they could do delivery after they took the car back to fix problems. Said problems to be subject of another thread...

 

[K-MTG]

I wonder what rates the 3 will get

 

[boaterva]

I wonder what rates the 3 will get

From what I’ve read (somewhere), it will be normal rates, since no incentives are needed. Tesla wants to push the X and S thus the 0.99%. With half a million cars on the backlog, not so much for the 3.