Tesla loan comparison spreadsheet - auto updates hourly

[gh0001]

Got my loan from Fairwinds CU.
- 36m 0.89% or 48m 1.45% (need to open a checking account to qualify for discounted rate). I took the 36-month one;
- I am from CA. Join the LionNation club (the free level was sufficient for me) to qualify for Fairwinds membership.

Highly recommend Fairwinds. Approval was very fast, great service!

 

[Rootbeard7]

The answer is yes. Matched a 72 month 2.5% to 2.4%. Took all of 5 mins on the phone.

FWIW I had a great experience with CCFCU. Fast and very pleasant to deal with, almost made me want to go with them. But the unsecured loan from light stream and no DD requirements are too much to pass up.

Did you have to set up direct deposit with them and wait for your paycheck to clear before you were approved for the 2.5% rate?

 

[T3slaMecca]

Got my loan from Fairwinds CU.
- 36m 0.89% or 48m 1.45% (need to open a checking account to qualify for discounted rate). I took the 36-month one;
- I am from CA. Join the LionNation club (the free level was sufficient for me) to qualify for Fairwinds membership.

Highly recommend Fairwinds. Approval was very fast, great service!

Do you have the link for the free level membership?

 

[gh0001]

Do you have the link for the free level membership?

LionNation | Orlando City Soccer Club Just click join. You don’t have to join their premium membership which is $59.

 

[steveheaven79]

Got my loan from Fairwinds CU.
- 36m 0.89% or 48m 1.45% (need to open a checking account to qualify for discounted rate). I took the 36-month one;
- I am from CA. Join the LionNation club (the free level was sufficient for me) to qualify for Fairwinds membership.

Highly recommend Fairwinds. Approval was very fast, great service!

can you still get a loan even if you live in CA from this CU?

 

[T3slaMecca]

can you still get a loan even if you live in CA from this CU?

Yes, @gh0001 is from CA

 

[steveheaven79]

Yes, @gh0001 is from CA

Thanks for the reply. I am glad i found this forum. if you dont mind asking..
I have a delivery date set 12/13 - how does payment to Telsa work? I stopped by Tesla store today to ask what I should do now .. I have around 740 credit score dont want to use Tesla financing at 3.99%. Does CU wire the fund to Tesla directly and I am good to go?

 

[T3slaMecca]

Thanks for the reply. I am glad i found this forum. if you dont mind asking..
I have a delivery date set 12/13 - how does payment to Telsa work? I stopped by Tesla store today to ask what I should do now .. I have around 740 credit score dont want to use Tesla financing at 3.99%. Does CU wire the fund to Tesla directly and I am good to go?

They usually send you the check. so plan accordingly, the issue is when Tesla sends you the MVPA(get it as soon as possible), that's when you can get the check sent out(to you and you can hand it over to Tesla).

 

[steveheaven79]

They usually send you the check. so plan accordingly, the issue is when Tesla sends you the MVPA(get it as soon as possible), that's when you can get the check sent out(to you and you can hand it over to Tesla).

MVPA?

 

[EV Enthusiast]

MVPA?

Motor Vehicle Purchase Agreement. This will have your VIN and total including taxes, registration and fees.

 

[ConSaab]

The answer is yes. Matched a 72 month 2.5% to 2.4%. Took all of 5 mins on the phone.

FWIW I had a great experience with CCFCU. Fast and very pleasant to deal with, almost made me want to go with them. But the unsecured loan from light stream and no DD requirements are too much to pass up.

@philaKing - if you don’t mind, can you share exactly what documentation you submitted to light stream to beat the rate?

I submitted the email I got from loan officer confirming that I was approved, rate offer and terms. However they said they need official approval letter.

Did you get one from them? Is that something I can request from Loan officer?

Much appreciate the information.

 

[steveheaven79]

Motor Vehicle Purchase Agreement. This will have your VIN and total including taxes, registration and fees.

Motor Vehicle Purchase Agreement. This will have your VIN and total including taxes, registration and fees.

Thank you

 

[philaKing]

@philaKing - if you don’t mind, can you share exactly what documentation you submitted to light stream to beat the rate?

Sure. I received the loan documentation from CCFCU (includes rate, price of card, all the terms and conditions etc). I then applied at Lightstream and was approved at almost double rate. I called Lightstream (I always find this to be key), asked if they would match a rate that was 50% of their rate (which he confirmed they would with documentation), and sent CCFCU docs to the gentlemen helping me while we were on phone. He went to loan department, confirmed rate beat, and within 5 minutes my account was updated with the 2.5%.

 

[ConSaab]

Sure. I received the loan documentation from CCFCU (includes rate, price of card, all the terms and conditions etc). I then applied at Lightstream and was approved at almost double rate. I called Lightstream (I always find this to be key), asked if they would match a rate that was 50% of their rate (which he confirmed they would with documentation), and sent CCFCU docs to the gentlemen helping me while we were on phone. He went to loan department, confirmed rate beat, and within 5 minutes my account was updated with the 2.5%.

Thanks for sharing. Trying to come up with a game plan to approach light stream so I get get rate beat.

When you asked for loan documentation, do they require car MVPA or VIN?

Did they email you or mail the loan documentation?

 

[philaKing]

When you asked for loan documentation, do they require car MVPA or VIN?

Did they email you or mail the loan documentation?

Yes. I sent ccfcu my MVPA (with vin) and required info. To get 2.5% on the loan papers you need to have one pay cycle of dd into your ccfcu account or maybe send proof you switched to them for dd.

Then take the loan docs you would subsequently get from ccfcu and send to lightstream. They are detailed enough and sufficient to get rate beat.

 

[ConSaab]

Yes. I sent ccfcu my MVPA (with vin) and required info. To get 2.5% on the loan papers you need to have one pay cycle of dd into your ccfcu account or maybe send proof you switched to them for dd.

Then take the loan docs you would subsequently get from ccfcu and send to lightstream. They are detailed enough and sufficient to get rate beat.

Awesome ! Thanks for the info. Since I still
Have not received a VIN yet, I guess I will have to wait to try rate beat.

 

[steveheaven79]

Has Anyone applied for a loan from LA Financial CU? I have 740 fico score not sure if it's enough for them.

Thank you

 

[nperkins]

I was told 1.99 was for 800+ fico. I was approved for 2.99 but fico was 750-799. Also, I'm out of the area (CA). Was your fico over 800? or are they gaming me?!

My FICO is 820 so I don’t think they were gaming you.

 

[pcl586]

They require 800+ for the 1.99% rate. Everyone I’ve spoken to has consistently heard that.

My FICO is 820 so I don’t think they were gaming you.

Thank you for the feedback.

 

[Freewilly]

I wish I had this a week ago...