Tesla financing better interest rate

[mreynolds767]

just noticed online the stated best interest rate through Tesla went from 4.25 down to 3.99 today
Placed my order, applied for loan and it came back at 3.19% apr for 72 months through Tesla which I thought was pretty good

Not sure why they don’t show 3.19 as at least possible

 

[photonphil]

Damn thats pretty goood -Whats ur credit score?

 

[mreynolds767]

Have a high score, a bit over 800 I would guess.
One of those monthly monitor type apps on my cc shows 820 but not sure how accurate those are compared to what the lenders use.

 

[Oldschool496]

Have a high score, a bit over 800 I would guess.

Now its should go down to below 3 for new applicants and High scores.

 

[deonb]

Now its should go down to below 3 for new applicants and High scores.

How long does it take before it comes into effect?

 

[Oldschool496]

How long does it take before it comes into effect?

THATS A GREAT QUESTION.

I was just today before the announcement looking at this rate sheet here on this site and can't find it now. All the credit union rates updated constantly by a member. Its quite a great tool.

If anybody finds it please put the link here somewhere on this post. Now thats the Fed Rate that went down today it may have little change to auto loans. Plus these are all CU rates.

 

[888tom888]

Ordered M3 P was going to take advantage of tesla offer 0 down 3.99% check my build and info and USBank now approved and my rate is 3.39% MyFICO scores average 800. I paid the $2500 and at delivery owe another $2000 which covers tax, lic and fees.

 

[kunzjob]

Currently working with Allegacy...
· 1-66 months at 1.99%
· 67-75months at 2.44%
· 76-84 months at 2.79%

Also working with Tesla for a rate match for ease of transaction and 100% vehicle cost financing (Allegacy will only do 90%).

 

[888tom888]

Currently working with Allegacy...
· 1-66 months at 1.99%
· 67-75months at 2.44%
· 76-84 months at 2.79%

Also working with Tesla for a rate match for ease of transaction and 100% vehicle cost financing (Allegacy will only do 90%).

I like the lower rates, but I have yet to find a credit union or lender that lends 100%. Money in my pocket trumps cheaper rate. I can make more on the money I keep in my pocket than I can save with a lower rate.

 

[TheTonester]

Currently working with Allegacy...
· 1-66 months at 1.99%
· 67-75months at 2.44%
· 76-84 months at 2.79%

Also working with Tesla for a rate match for ease of transaction and 100% vehicle cost financing (Allegacy will only do 90%).

Have you inquired with Tesla about matching those rates? And do they seem open to doing it? If so, who did you contact?

 

[alexgr]

How long does it take before it comes into effect?

As good CUs are non-existent in my area, I've got financing at 2.99% through BofA one month ago. If your credit is good, consider applying for some preferred customer status at your bank that can potentially lower your APR on loans in addition to the bank's normal lowest rate.

 

[kunzjob]

Have you inquired with Tesla about matching those rates? And do they seem open to doing it? If so, who did you contact?

They advertise a rate match. They need a full approval, not a pre approval. Still working on everything coming together. Not sure who I’ll go with or what numbers as it depends on delivery timing as well.

Best Rate Guarantee

 

[shrini23]

Currently working with Allegacy...
· 1-66 months at 1.99%
· 67-75months at 2.44%
· 76-84 months at 2.79%

Also working with Tesla for a rate match for ease of transaction and 100% vehicle cost financing (Allegacy will only do 90%).

Is Allegacy a Credit Union? Do I need to be a member to get those rates?
Is that for new car rates or refinance?
I'm preapproved from my CU for 2.99

 

[Faksnima]

Currently working with Allegacy...
· 1-66 months at 1.99%
· 67-75months at 2.44%
· 76-84 months at 2.79%

Also working with Tesla for a rate match for ease of transaction and 100% vehicle cost financing (Allegacy will only do 90%).

How were you able to become an Allegacy member?

 

[shrini23]

How were you able to become an Allegacy member?

I'm not a member but a quick search shows that those are the rates for members who have a direct deposit with them

Allegacy... (member & have a direct deposit)
· 1-66 months at 1.99%
· 67-75months at 2.44%
· 76-84 months at 2.79%

Allegacy... (member & NO direct deposit)
· 1-66 months at 2.49%
· 67-75months at 2.94%
· 76-84 months at 3.29%

I doubt if I can become a member in a day and ask them to approve me for a 66 months loan.

 

[Faksnima]

It says to join you have to be associated with that community or someone in it.

 

[kunzjob]

It says to join you have to be associated with that community or someone in it.

Or you can join as a member of a group they partner with. It’s all on their site.

 

[Faksnima]

How would you receive the check in order to pay for the car At delivery?

 

[TomServo]

I'll start with Tesla's financing and my local military CU will beat the rate by 1 percent if I re-finance with them. WIN-WIN

 

[jjrandorin]

THATS A GREAT QUESTION.

I was just today before the announcement looking at this rate sheet here on this site and can't find it now. All the credit union rates updated constantly by a member. Its quite a great tool.

If anybody finds it please put the link here somewhere on this post. Now thats the Fed Rate that went down today it may have little change to auto loans. Plus these are all CU rates.

Tesla loan comparison spreadsheet - auto updates hourly