Other financing options?

[Austin Powers]

lol, he sounds swell.

Let's just say I am not dealing with Mark but another gentleman listed a lot on this forum and he was very helpful. I will see Wednesday when I supply the VIN as he asked for to lock in the rate or see if it was lip service.

I have seen some up and down transactions as of late with Alliant and with your info and others here lately I do not feel confident that mine will get locked in

I spoke to a loan officer today and he mentioned the 30 day lock. It's from the day your loan is approved. So, technically a September delivery would require another credit check. By the way, he also said that they will know by Friday if rates are going to be affected or not. He specifically asked me to wait until Friday to apply.

Thanks

 

[jelloslug]

My rate will be locked in once I give them the VIN# this week. Did they not do the same for you?

I applied last week and will not be delivered until September.

1.49/72 months

If they have to pull again and I don't get that rate, I will be back here with you.

Your rate is only locked for 30 days.

 

[CmdrThor]

But wouldn't it be great to pay "cash" and have them hand you the title at the SC?

If you want the title, apply for an unsecured loan at Lightstream. They will even beat other rates you are approved for by 0.10%.

 

[OneSmallStep]

Who were you dealing with? My contact, we'll call him "Mark"(because that is his name), seems like a bit of a jag. His response to my request to lock in the rate?

"Nothing we can do at this time. "

His reply to my question about potential rate changes?

"I do not."

Guess this is what you get when you have a captive audience.

My delivery is scheduled for end of August/early September and i reached out to Alliant yesterday and was also told to apply on Friday. I wonder if it is to get the last batch in before rates potentially change on 7/18, or if rates are changing on Friday/etc. Not sure about 30 day lock as it would not seem to stretch long enough but I will post again if i find out more on Friday.

 

[thegangler]

My delivery is scheduled for end of August/early September and i reached out to Alliant yesterday and was also told to apply on Friday. I wonder if it is to get the last batch in before rates potentially change on 7/18, or if rates are changing on Friday/etc. Not sure about 30 day lock as it would not seem to stretch long enough but I will post again if i find out more on Friday.

Mind reporting back? My order is finalized on Friday so I'm hoping the rate doesn't move.

 

[jelloslug]

If you want the title, apply for an unsecured loan at Lightstream. They will even beat other rates you are approved for by 0.10%.

With Lightstream, since it's unsecured, do they just cut you a check and then you pay for the car yourself or is the check made out to directly to Tesla?

 

[CmdrThor]

With Lightstream, since it's unsecured, do they just cut you a check and then you pay for the car yourself or is the check made out to directly to Tesla?

They pay you directly (direct deposit into your checking account), and then you pay Tesla.

 

[jelloslug]

They pay you directly (direct deposit into your checking account), and then you pay Tesla.

Hummmmm.....

 

[Mr So Chill]

I went with Navy Federal Credit Union. They go as low as 1.79% depending on your length of finance.

 

[thegangler]

They pay you directly (direct deposit into your checking account), and then you pay Tesla.

So they'd beat the 1.74% rate from Alliant by .10%, without securing it with the car? I'm skeptical...

 

[CKCland]

Approved in 10 minutes over the phone this morning with Alliant. 1.49% for 72 months with 105% LTV. Very easy....

Alliant
Andy Vostatek - Sr Loan Consultant
(800)328-1935 ext 2201
[email protected]

My car is in the ending phases of production and should have delivery in two weeks.

 

[azdryheat]

I have been an Alliant member for over 30 years. They are a little more business and less laid back than they used to be, but decent rates and honesty is something they have always given me.
I placed my order 7/11 and talked to Alliant. Lock is 30 days, and they are just being honest when they say they don't know after the 15th. Rate for new cars is currently .5% higher so I don't think they will be out of the ballpark. FWIW, my salesman HEARD that Tesla is not going to continue with preferred lenders.

 

[Cnasty]

Your rate is only locked for 30 days.

30 days will be fine then as I don't expect much more than that but will be close.

Either way I don't care between 1.49 to 1.74 or anything of the like.

I just want my car and finances in line.

 

[CmdrThor]

So they'd beat the 1.74% rate from Alliant by .10%, without securing it with the car? I'm skeptical...

If you qualify. Obviously you have to have very good credit to qualify for an unsecured loan. But yes, once you are approved for the same loan amount and duration at Lightstream and Alliant, Lighstream will beat the rate by 0.10%.

 

[jelloslug]

I'm going to check with Lightstream right now and see how it works out.

 

[thegangler]

I'm going to check with Lightstream right now and see how it works out.

Just emailed them - couldn't find a number on the site, we'll see how that goes.

 

[jelloslug]

Just emailed them - couldn't find a number on the site, we'll see how that goes.

Ditto for me also. If they go for the unsecured route AND beat the rate I'll take it today and just sit on the money until late August/September.

 

[Austin Powers]

These are the rates from Lightstream for New Auto. How are these an 'other financing option' compared to Alliant? You might have better luck with you local credit union?

 

[thegangler]

Check out the "RATE BEAT" program. I'm communicating with their customer service now, albeit over email.

 

[Austin Powers]

Mind reporting back? My order is finalized on Friday so I'm hoping the rate doesn't move.

LO from Alliant says 'promo' ends on Friday and he doesn't have info on whether a new promo will replace the current one. Following would be the rate changes

78m - 1.74% - This term would go away
72m - 1.49% - Goes up to 2.24%
84m - Stays at 2.99%