Telsa financing just dropped to 3.5% APR today

[p4594spa]

 

[mreynolds767]

The actual rate on the website has never been set in stone until you apply.
I got lower than 3.5 for 72 months from Tesla via the website in Sept.
Website at that time showed 3.99

 

[complexity]

If the rate changed and we are waiting for delivery will we get a revised rate ? Most of us are waiting months and its a big difference.

 

[Big Dog]

you should be able to do better with local credit unions. Our local CU shows 2.99 rate today.

 

[m3-ricardo]

i'm getting 3.25 from my bank ..and a .25 discount for automated payments .. so, even though 3.5 is really good .. its easy to get better

gosh -- my last car i had 1.25% .. sigh

 

[3antar]

Hey, by any chance what credit score is getting those rates? I'm sitting at a mid 600, putting 10k down on a 40k car. I'm wondering what I could see as far as rates go in California with CU's?

 

[PowerBankT]

I have a score over 810 and still got worse rates than the SA demo'd me in the store.

I've yet to figure out why. I'm guessing further discussion will take place once I get to talk to the center for delivery.

 

[jjrandorin]

Hey, by any chance what credit score is getting those rates? I'm sitting at a mid 600, putting 10k down on a 40k car. I'm wondering what I could see as far as rates go in California with CU's?

Usually, to get "best rates" you need to be 700-720 or higher. How much you put down is likely not going to effect your rates at all, its only going to effect whether you get approved for a loan or not.

 

[m3-ricardo]

my score is over 800 ..

the length of the loan also affects rates -- i've found the sweetspot between 48 and 60 months

 

[StephanB]

When I ordered mine (10/8) the advertised rate was 3.99%. I applied via Tesla Financial and got approved by US Bank for 3.49%.
Excellent credit. Ymmv.