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New finance rates

Discussion in 'Model X: Ordering, Production, Delivery' started by gooman, Sep 25, 2017.

  1. gooman

    gooman Member

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


    Thanks
     
  2. boaterva

    boaterva Supporting Member

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

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

    Tesla Car Loans from Alliant
     
  3. ab26

    ab26 Member

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    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.
     
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  4. cantbechanged

    cantbechanged Member

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

    boaterva Supporting Member

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    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. :D
     
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  6. Musterion

    Musterion 18h 03m 37s −24° 23′ 12″

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    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.
     
  7. boaterva

    boaterva Supporting Member

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    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....
     
  8. Musterion

    Musterion 18h 03m 37s −24° 23′ 12″

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    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...
     
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  9. K-MTG

    K-MTG Sunshade Captain of TMC

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    I wonder what rates the 3 will get
     
  10. boaterva

    boaterva Supporting Member

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    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.
     
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