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Tesla loan comparison spreadsheet - auto updates hourly

Discussion in 'Model 3: Ordering, Production, Delivery' started by T3slaMecca, Sep 5, 2018.

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  1. T3slaMecca

    T3slaMecca Member

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    #81 T3slaMecca, Sep 8, 2018
    Last edited: Sep 8, 2018
    @ElliottG @amoeba
    Can you answer some of these questions?

    1. Do you know how strict they are with joining?
    2. How many days do their quotes last? 30/60?
    3. Do they finance 100% of the car cost?
     
  2. RunMadM3

    RunMadM3 Member

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    #82 RunMadM3, Sep 8, 2018
    Last edited: Sep 8, 2018
    Suggestion: Keep them on the spreadsheet, but in a different section with a note/comment about the shady behavior (so new members don't continually ask "why isn't X on here?")
     
  3. ElliottG

    ElliottG New Member

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    1. I live in LA so not sure how strict they are if you live outside the area.
    2. The pre-approval is good for 30 days (before they would want to re-run the credit check) but they said they don't hold the rate at all so even within those 30 days the rate can go up on you.
    3. Yes they will finance 100% of the cost. Initially they wanted to only cover 90% but when I asked to cover it all, they said they would need copies of recent pay-stubs to verify income. It seems like that was only because I was financing the entire thing.
     
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  4. SageBrush

    SageBrush 2020: Drain the Sewer

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    OP: nice work !

    I was curious how you wrote the spreadsheet.
    Now I have learned one bit of lingo -- to 'scrape' web pages ;-)
    I also very superficially now know about the input functions,
    And get the XPATH or regEx qualifiers

    While looking for more examples I came across the help you provided in a stackOverflow question ... using this spreadsheet's code LOL

    Anyway, it was a nice way to spend an hour to start learning a very useful skill. THANKS
     
    • Like x 1
  5. T3slaMecca

    T3slaMecca Member

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    @RunMadM3 good idea, perhaps a sheet regarding CUs to avoid.

    @ElliottG thank you, will look into updating them, working on an issue with the spreadsheet..

    anyone notice the spreadsheet is behaving a bit clunky on desktop?

    @SageBrush that's great, keep it up! such a small world, I'm learning myself :)
     
    • Like x 1
  6. T3slaMecca

    T3slaMecca Member

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    @amoeba @ElliottG

    I've added the CUs.

    Amoeba, can you provide the days the quote last(30/60?) as well as the % financing(100%?)?
     
  7. oracleicom

    oracleicom Member

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    In the notes section for FedChoice it says you can get the regular rate w/o membership. This is not true. I just called and they said you have to be a member to get a loan.
     
  8. Darmie

    Darmie Supporting Member

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    For most of the credit unions you can see what organization you can be a member of to be eligible. So, just as an example if they allow a fitness company eligibility, so in turn, you join that fitness center and then you are eligible to now be a member.
     
  9. ViperDoc

    ViperDoc Roadster 1305

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    Best auto loan rates I have found (must qualify to be a Pentagon Federal member)
    2.49% 36 mos $500 - $100,000

    3.24% 48 mos $7,500 - $100,000

    Check at penfed.org

    In a tangentially related topic, over a week ago, I called to get VIN and was given one verbally (wanted to apply for my loan) because Tesla said my car was "enroute to port" (in this case Boston), with a tentative delivery of Sept 12. Strangely though (or perhaps not!) the VIN is still not listed on my webpage and no calls or anything to set up a delivery date...
     
  10. RandomNateGuy

    RandomNateGuy Member

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    Update on Aspire Federal Credit Union. I got financed at 1.99% 2 weeks ago. But, sorry to report that...I just emailed my contact there to see if it was a promotional rate or what. She just got back to me:

    "Unfortunately, the rate has increased to 2.99% since you applied."
     
  11. Iroh

    Iroh Member

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    Please add GEFCU (Vehicle Loans | GEFCU) to the list.
    • 0-36 months....as low as 2.05% A.P.R.
    • 37-48 months....as low as 2.15% A.P.R.
    • 49-60 months....as low as 2.25% A.P.R.
    • 61-72 months....as low as 2.35% A.P.R.
    • 73-84 months....as low as 4.25% A.P.R.
    Enabling auto pay (via ACH) yields a 0.25% discount.

    Membership is easy. Had to open an account - min balance required : $ 5.
    The loan office I'm working with has mentioned that they've worked with Tesla before & know "the process".
    This is important for Texans, as we have to pre-pay before Tesla ships the car.

    They query Equifax for credit check - for folks that keep their credit locked/frozen.
     
  12. amoeba

    amoeba Member

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    Just checked with them. You need to be there in person to open an account. They don't currently do online/phone memberships. You basically have to be living in Austin to use this credit union.

     
  13. amoeba

    amoeba Member

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    I'm in the SF Bay Area and so far I'm striking out on joining any of these credit unions that's offering a good rate in the mid to low 2s. Anyone have any suggestion? I'm taking delivery this Sunday.
     
  14. northWETwa

    northWETwa Member

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    Good afternoon all! -

    Just starting on the car loan quest for our 2nd Tesla. a Dual Motor M3. We've only ever had one other car loan, so don't consider ourselves well versed on the ins-&-outs of loan shopping.....

    Looking at this spreadsheet, we see that Lifestream, for example, is listed several times with different (and appealing) rates. Can anyone explain why this is? Also, when we clicked on the "Rate Link" for same, the listed rates were considerably higher than in the spreadsheet? Any help appreciated! If we can't figure it out, we'll probably be back to checking out Navy Fed Credit Union or another credit union locally.

    Again, any help/guidance appreciated - thanks!
     
  15. supomglol

    supomglol Member

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    Darn, I was just at the beginning stages of this one hoping to get the 1.99%
     
  16. amoeba

    amoeba Member

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    Lifestream's normal rate is high. What they offer is beating competitor's rate by 0.1% which is why you always see them with the lowest rate.
     
  17. T3slaMecca

    T3slaMecca Member

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    Check out the spreadsheet, you'll find lower rates. I'm also a penfed member (anyone can join via donation) but I didn't go with them because better rates are available.


    Looks like best bet is Allegacy at 2.29% for 66 months.
     
  18. AndyJB444

    AndyJB444 Member

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    Golden, CO
    Didn't see any options in Colorado - anyone have any success with Denver-area CU's?
     
  19. T3slaMecca

    T3slaMecca Member

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    Check out Allegacy on the spreadsheet, anyone in US can join
     
  20. jsrawa

    jsrawa Member

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    I haven’t found anything very competitive in the Denver area but if someone else has I would like to hear it!
     

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