Refinancing after rate-matching

[Tell021]

Has anyone done it?

I initially got a loan with Tesla (US-bank) but found a much lower rate soon after, so submitted for them to match it, and they did. They are supposed to be sending me a check (rate match rep said they should have sent it last week).

In the mean time, I've found another CU with an even lower rate, which I plan to refinance too. The problem is, the low rate is promotional, and ends July 31.

So two questions:

1) Has anyone successfully refinanced after getting the rate match? Any consequences?
2) Has anyone done it before receiving the check? What happened?

I know doing this seems like cheating, but even my sales rep said it was ok, and lots of his customers did it.

Appreciate hearing everyone's experiences.

 

[djroberts]

Great idea. Rate should be dropping soon. Notes the time to negotiate.

 

[ry-ballz]

I mean, it is cheating, but it's not illegal.

 

[turtlesz]

Always thought this was interesting how Tesla does the rate match. I got 3.33% for 72 months from Tesla when I bought my X but applied to another CU and got 2.19% for 72 months. Tesla wrote a check for over $3k which was to be sent in the mail. What is to stop someone from taking the check and still refinancing with the original CU that had the lower rate?

 

[ry-ballz]

Always thought this was interesting how Tesla does the rate match. I got 3.33% for 72 months from Tesla when I bought my X but applied to another CU and got 2.19% for 72 months. Tesla wrote a check for over $3k which was to be sent in the mail. What is to stop someone from taking the check and still refinancing with the original CU that had the lower rate?

Morality