I actually called the CU and the woman on the phone mentioned that the car has to be registered in TX in order to get loan approval. JUST an FYI, if you're not actually a TX native!
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Tesla loan comparison spreadsheet - auto updates hourly
- Thread starter T3slaMecca
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I actually called the CU and the woman on the phone mentioned that the car has to be registered in TX in order to get loan approval. JUST an FYI, if you're not actually a TX native!
Thanks for the heads up! Added to the sheet. They are going to get hit HARD, if you're on the fence, hop on these rates now. They are guaranteed to go up within months.
Anyone know their rate lock days & max financing %?
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ishareit
Member
I get that you can donate to the APL online, I am just pointing out that that does not automatically make you a member (or at least that's what I think), and to become a member, you will need to complete a membership application.
The lady I spoke to definitely confirmed that you could become a member by donating $15 to the library, but she said you had to go in person, and the car needs to be a TX registered car to be approved for a loan.... so it's not really "open" to all, it's "open" to those in TX tho!
I went rounds with Tesla finance today
1. They approved at 72 Month term but NOT a 60 month term.
2. All the banks Tesla has use Simple interest for their loans. In english there is no prepayment penalty but you will still own
72 months worth of 3.x percent interest even if you want to pay the entire loan off after the first payment.
3. Get approved by Tesla but work on getting Financed with a bank or credit union where you can prepay without penalty or interest.
The money you save could be the down payment on your next ride.
1. They approved at 72 Month term but NOT a 60 month term.
2. All the banks Tesla has use Simple interest for their loans. In english there is no prepayment penalty but you will still own
72 months worth of 3.x percent interest even if you want to pay the entire loan off after the first payment.
3. Get approved by Tesla but work on getting Financed with a bank or credit union where you can prepay without penalty or interest.
The money you save could be the down payment on your next ride.
mcap81
Member
11thIndian
Member
Can I ask, is it Pasadena federal credit union or Parsons federal credit union?
PFCU jacks me up
ishareit
Member
prefer unsecured loan from lightstream with rate beat (even if it means 1 extra inquire on credit report)
I am ready to order my Model 3 and am looking for a little assistance/reassurance in the process.
I am planning on financing through one of the cu on the spreadsheet but I see others talking about Tesla financing and wonder if I should also apply through them. Can I apply for the cu first or does it matter which one I apply through first?
I am planning on financing through one of the cu on the spreadsheet but I see others talking about Tesla financing and wonder if I should also apply through them. Can I apply for the cu first or does it matter which one I apply through first?
mcap81
Member
I just called Delta Community CU and their join rules are strict. You must live in the ATL area or meet another requirement. I am not sure why it is listed as Open on the spreadsheet.
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