Tesla loan comparison spreadsheet - auto updates hourly

[10splayer]

I was at Tesla the other day and the sales rep said that they dont match rates. She said that you have to buy the Tesla using their credit. Then you can get a different loan to pay off Tesla then continue with the new loan....hmmm

 

[tdushyant]

Hello everyone,
i got my loan from Primeway FCU, they had special promotion going on. They gave me 60K$ for 1.99% for 60 months. loan application, approval and disbursement was very smooth. specially when they had to send payment to Tesla somewhere in Las Vegas.
Thanks,
Tank

Hi everyone,

This community has helped me tremendously on my Model 3 ownership journey and I thought I'd give back with this spreadsheet.

This spreadsheet pulls rates directly from the credit union's website hourly, so you're always getting the latest rates, because as you know, they change quite often these days!

The loan comparison google spreadsheet: Tesla Loan Comparison Spreadsheet - Auto Update Rates

How to use the spreadsheet youtube (best viewed in 1080p): Tesla Loan Comparison Spreadsheet - Updates Hourly

Let me know if there's anything I can do to make the spreadsheet easier to use.

For now, this spreadsheet only contains US credit unions but if you know of great rates in other countries, let me know and I'll add it.

My mission is to help anyone who's interested in buying a Tesla or EVs -- let's all help each other out!

Blessings,
Khoa

 

[T3slaMecca]

I was at Tesla the other day and the sales rep said that they dont match rates. She said that you have to buy the Tesla using their credit. Then you can get a different loan to pay off Tesla then continue with the new loan....hmmm

Not every employee knows the right information, when I get conflicting info, I check with another employee to verify.

Hello everyone,
i got my loan from Primeway FCU, they had special promotion going on. They gave me 60K$ for 1.99% for 60 months. loan application, approval and disbursement was very smooth. specially when they had to send payment to Tesla somewhere in Las Vegas.
Thanks,
Tank

That's a really good rate, unfortunately they don't publish their rates online. Their website is so user unfriendly!

 

[mikeshyu]

I was at Tesla the other day and the sales rep said that they dont match rates. She said that you have to buy the Tesla using their credit. Then you can get a different loan to pay off Tesla then continue with the new loan....hmmm

At least at the Costa Mesa delivery center they matched. Had a delivery date of 9/30. But because I made a late change to my configuration (RWD to AWD) which resulted in a VIN number change, the previously funded check from Pasadena was no longer valid (according to Pasadena FCU). And of course Tesla was not able to get me a new signed MVPA with the new VIN before the credit union closed on Friday 9/28.

I decided it was worth a shot to go in on Sun anyways to see what they could do. I brought my signed loan docs from Pasadena with the terms listed. Ultimately Tesla did match the 2.99% at 72 months that I was approved for at Pasadena. The bank they ended up using was US Bank. Unfortunately US Bank's policy is only 100% LTV. They don't allow you to roll in the sales tax, licensing, doc, delivery. I had to put in another $1900 on top of the $3500 which I was able to do via credit card.

Honestly, if I had the signed MVPA on Friday 9/28, I would have liked to give my business to Pasadena. But I didn't want to risk Tesla not getting the signed MVPA before I had to leave on another business trip (in a couple of days) so I gave in and used financing that they found (US Bank).

 

[e-FTW]

That's a really good rate, unfortunately they don't publish their rates online. Their website is so user unfriendly!

I got the same through Pasadena FCU ($60k over 60 months @ 1.99%) last week. It requires that loan payments come from an account you open there, but a monthly transfer from my current checking will take care of that. That is what gets you the 1% rebate down to 1.99%/60mo.

They were easy to work with, and when identify verification fails on their site (seems common), a quick call gets them to fix it. Gloria and Brenda were champs! Tesla got me my MVPA 2,5 hours before my pickup appointment... And Pasadena FCU came through! Brenda pushed back her lunch to make this work for me. She's the best!

 

[contaygious]

Thanks a ton just used pasadena for the 1.99 for the my wife's 3. Approved me in an hour

 

[Drmd]

Had good experience at PFCU. For payment transfer from your bank account to checking account PFCU to auto loan? Did you set automatic transfer?

I got the same through Pasadena FCU ($60k over 60 months @ 1.99%) last week. It requires that loan payments come from an account you open there, but a monthly transfer from my current checking will take care of that. That is what gets you the 1% rebate down to 1.99%/60mo.

They were easy to work with, and when identify verification fails on their site (seems common), a quick call gets them to fix it. Gloria and Brenda were champs! Tesla got me my MVPA 2,5 hours before my pickup appointment... And Pasadena FCU came through! Brenda pushed back her lunch to make this work for me. She's the best!

 

[10splayer]

I tried to call Pasadena for 2 days. They put out on hold forever. After about 10 minutes I got through.

The rates on the website are current as of 9/25

They don't offer the 1.99% for 60 days any longer.

36 and 48 month options are 1.99
60 months is 2.99

 

[sixty]

do you need the VIN in order to start the loan application process? I still don't have a VIN yet.

 

[spesler]

@sixty for a 3rd party loan, you can usually apply and get preapproved without a vin. The vin is needed to get the loan funded.

 

[rob968]

I got the same through Pasadena FCU ($60k over 60 months @ 1.99%) last week. It requires that loan payments come from an account you open there, but a monthly transfer from my current checking will take care of that. That is what gets you the 1% rebate down to 1.99%/60mo.

They were easy to work with, and when identify verification fails on their site (seems common), a quick call gets them to fix it. Gloria and Brenda were champs! Tesla got me my MVPA 2,5 hours before my pickup appointment... And Pasadena FCU came through! Brenda pushed back her lunch to make this work for me. She's the best!

I don’t see the 1% discount listed anywhere on their site (for paying through their checking account). Is it something they offer only during the application/approval process? I see only 2.99% for 60 months on the site...would love 1.99

 

[10splayer]

I don’t see the 1% discount listed anywhere on their site (for paying through their checking account). Is it something they offer only during the application/approval process? I see only 2.99% for 60 months on the site...would love 1.99

Its not. I called earlier it was only good until 9/25 the 1.99% is only good for I think 36 and 48 months

 

[e-FTW]

Its not. I called earlier it was only good until 9/25 the 1.99% is only good for I think 36 and 48 months

Yeah, looks like they adjusted their rates.

 

[staze]

It looks like everyone is raising rates in the past week. Tesla pushing my my delivery 2 weeks is going to cost me another grand. Oh well. I will still likely love the car.

 

[awedio_femi]

This is a great resource!
Keep up the great work.

 

[awedio_femi]

Credit Union's are one of the greatest, bestest things to ever happen!

 

[T3slaMecca]

Credit Union's are one of the greatest, bestest things to ever happen!

Couldn't agree with you more, they are such a blessing -- not enough people use them!

 

[10splayer]

Credit union was awesome. The one I used I had to go to the union to close the paperwork but I got some competitive rates then went to the one closest to me and they matched the interest rate Ahhhh now to learn my 3

 

[amoeba]

Thanks a ton just used pasadena for the 1.99 for the my wife's 3. Approved me in an hour

How did you get membership with Pasadena without being a LA resident?

 

[contaygious]

Easy just gave 25 to the library when you sign up ha also my car was ready in two days after ordering lol