TechSavvyWife
Member
So I have to say that Allegacy was wonderful to work with. The loan officer I got made it super easy and was very nice. My loan is now finalized with just a few emails back and forth from the start. Really happy with them.
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Tesla loan comparison spreadsheet - auto updates hourly
- Thread starter T3slaMecca
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What rate/term did you end up with? Seems like their rates went up today before I could submit my application.
Don’t waste your time with LightStream. It is a bait-and-switch. They will do everything they can to avoid matching the rate and are quite rude if you try to follow up on the phone.
I obtained an approval through Pasadena credit union, then applied and contacted LightStream for a match. They originally said it would be no problem. Then they started making excuses.
First, they said an approval in an email was not enough. Then, they said Pasadena CU required a checking account. Then, they said Pasadena CU was not open to anyone. When I explained it was open to anyone, they forwarded me to a supervisor who was very dismissive. He implied I was a problem because I called twice in one day (oh the horror!) and told me to take it or leave it. If I didn’t like the loan they offered, I should go online and click “cancel.” So I did.
Hopefully I can save you all the aggravation and hard credit pull. Don’t bother applying, it isn’t worth it.
I obtained an approval through Pasadena credit union, then applied and contacted LightStream for a match. They originally said it would be no problem. Then they started making excuses.
First, they said an approval in an email was not enough. Then, they said Pasadena CU required a checking account. Then, they said Pasadena CU was not open to anyone. When I explained it was open to anyone, they forwarded me to a supervisor who was very dismissive. He implied I was a problem because I called twice in one day (oh the horror!) and told me to take it or leave it. If I didn’t like the loan they offered, I should go online and click “cancel.” So I did.
Hopefully I can save you all the aggravation and hard credit pull. Don’t bother applying, it isn’t worth it.
TechSavvyWife
Member
I ended up with 2.39 at 66 months but don't go by me. I am only working part time right now as part of a returning from maternity leave program so my income looks like half of what it was/will return to and I didn't want to go through all the paperwork of adding my husband for .1% difference.
I did just check and yes they jumped by like half a percent. Still those are pretty good from what I compared them to at different places.
I just did the same thing and had a generally positive experience. I applied and got approval through LightStream first. I then went through the process at Pasadena Federal with the same terms and received a Pre Approval PDF. I emailed it to Light Stream and asked for a rate beat. No response so a day later, I emailed them again with the PDF requesting a rate beat and in a few hours got a reply with the better rate. I requested the funds to be disbursed and they are pending right now.
Sorry to hear you had such a bad experience with it.
Man, that’s frustrating that we can do the exact same thing on the same days and get such different results. I stick by my statement that they are not worth people’s time. Maybe you luck out and get it. Or you waste hours dealing with them only to have a supervisor act like a jackass to you and dare you to go somewhere else.
On a side note, Pasadena credit union has been great and very easy to deal with. I should have stuck with them to start. No point in dealing with the jokers at LightStream. Only reason I tried is Tesla said the car was ready and I thought I could get it done quicker. Just ended up delaying things.
Was it easy to become member at Pasadena? Bummer they are closed saturday and sunday. My delivery is 9/30. Not sure they will approve or wait till Monday
Do they mail you cashier check?
Do they mail you cashier check?
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They probably won’t approve until Monday, but I bet you can get setup by 9/30.
Process was super easy and anyone can do it. I applied online before joining credit union. Approved a couple hours later subject to joining credit union and income verification. Took a pic of pay stubs and joined online by donating to the public library as part of the application. Approved 20 mins later. They said they need executed purchase agreement from Tesla and then they send a check directly to tesla.
The whole process has probably taken 30 minutes of my time and can be done in one day. Just waiting on purchase agreement from Tesla and I should be all set.
e-FTW
New electron smell
Pasadena FCU: the spreadsheet says "for the 1.99% rate this requires loan payments to be transferred from a Pasadena FCU checking account, otherwise the rate will be 2.99%. "
Could I simply set a monthly transfer from my current checking to Pasadena to have the payments come from their account?
Could I simply set a monthly transfer from my current checking to Pasadena to have the payments come from their account?
I was never asked for the lien information but tesla got the right one automatically from their database.
Yes they don't need direct deposit just automatic transfers from their checking account.
Got approved for the 1.99% w/ Pasadena FCU. Took about 24 hrs for the whole process and they only required my paystubs.
Is it for 60 months term? Rated on website is now 2.99 for 60 months. I applied last last Sunday, will see
@T3slaMecca,
Thanks a lot for compiling this information. It made life a lot easier while shopping around for loans.
Thanks a lot for compiling this information. It made life a lot easier while shopping around for loans.
For me it’s a 1.4 unsecured vs 3.6 unsecured. I’ve already taken delivery and paid cash. Only wanted the loan since rates are so low. May just stick with cash.
60 months 1.99 with automatic draft from their checking account or 2.99 otherwise. 3.99% with automatic draft for 72months
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