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Tesla loan comparison spreadsheet - auto updates hourly

Discussion in 'Model 3' started by T3slaMecca, Sep 5, 2018.

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  1. RickW

    RickW Member

    Joined:
    Aug 5, 2019
    Messages:
    38
    Location:
    Seattle
    I ran through credit unions and ended up getting pre approved for 48k at 2.89% 72 mo. After all of that meandering with different credit unions, including one in South Carolina which required me to join a Consumer Council Group (I didn't), I couldn't believe that my best rate would end up being Bank of America. Now I need to see if they will take off another 1/4% for preferred. Not a credit union, but a bonafide bank. I'm surprised.
     
  2. kunzjob

    kunzjob Member

    Joined:
    Aug 16, 2019
    Messages:
    18
    Location:
    Half Moon Bay, CA
    ^ How'd you get that rate? I'm seeing 2.94% for 60mo on their site... I have been going between BofA and Chase bank (3.84% for 72 mo).
     
  3. RickW

    RickW Member

    Joined:
    Aug 5, 2019
    Messages:
    38
    Location:
    Seattle
    >
    I'm assuming it may be due to my credit score. I also don't have a lot of credit card or outstanding loans out. I was as surprised as you, believe me.
     
  4. BrianKH

    BrianKH Member

    Joined:
    Sep 26, 2017
    Messages:
    27
    Location:
    Fort Lauderdale
    I got 2.49% with Bank of America yesterday for a 48 month loan for 65k. I was told, however, that yesterday was the end of a promotion they had on interest rates for cars. The promotion rate was 2.99% and I received another .50% off for being a Preferred Rewards member.
     
  5. RickW

    RickW Member

    Joined:
    Aug 5, 2019
    Messages:
    38
    Location:
    Seattle
    Weird, my banker never mentioned that. I did call him today to see if the Preferred thing was included in my rate, but I have to admit that I was looking for an 84 month loan, but with the pre financing part of the headache gone, I'm still stoked that this was a rate that I never planned on with a 72. Now if Tesla beats it, that would be the icing on the cake.
     
  6. BrianKH

    BrianKH Member

    Joined:
    Sep 26, 2017
    Messages:
    27
    Location:
    Fort Lauderdale
    Like you, I was surprised by the rates Bank of America is offering. RickW, you secured a great rate for a 72 month loan.
     
  7. Vaevictus

    Vaevictus New Member

    Joined:
    Aug 26, 2019
    Messages:
    2
    Location:
    Brussels, belgium
    In Belgium just got a loan for 60 months @ 1.3% for 50k
     
  8. RickW

    RickW Member

    Joined:
    Aug 5, 2019
    Messages:
    38
    Location:
    Seattle
    @Vaevictus Is there a Bank of Belgium in Seattle? :). :);)
     
  9. Amit519

    Amit519 Roadster dreams!!

    Joined:
    Feb 6, 2018
    Messages:
    210
    Location:
    NorCal, USA
    Best Rate Guarantee
     
  10. Amit519

    Amit519 Roadster dreams!!

    Joined:
    Feb 6, 2018
    Messages:
    210
    Location:
    NorCal, USA
    Bank of America
    Preferred Rewards members can get an interest rate discount of:
    0.25% Gold
    0.35% Platinum
    0.50% Platinum Honors
     
  11. snkp360

    snkp360 Member

    Joined:
    Monday
    Messages:
    9
    Location:
    Napa, CA
    Got a 3.54% for 72 Month from Redwood Credit Union, they discount .25% for an EV
     
  12. kunzjob

    kunzjob Member

    Joined:
    Aug 16, 2019
    Messages:
    18
    Location:
    Half Moon Bay, CA
    Has anyone gone with Allegacy lately? They seem to have great rates and are pretty easy to join.
     
  13. FlySpaceman

    FlySpaceman New Member

    Joined:
    Wednesday
    Messages:
    1
    Location:
    Austin
    I just ordered my Tesla, I will be looking at applying through them now with that beautiful 1.99% rate for 66 months if it is true. I would also like to know if anyone else has experience with Allegacy and how it has been.
     
  14. 11thIndian

    11thIndian Member

    Joined:
    Jan 3, 2017
    Messages:
    312
    Location:
    San Jose, CA
    Anyone have any advice for best SF Bay Area option? 60-72 Month Loan.
     
  15. patbaker82

    patbaker82 Member

    Joined:
    Apr 19, 2019
    Messages:
    50
    Location:
    San Diego
    Try EECU
     
    • Like x 1
  16. MJRoses23

    MJRoses23 Member

    Joined:
    Aug 29, 2019
    Messages:
    12
    Location:
    Ohio
    So I originally went through Tesla financing and received a rate of 3.99 for 72 months. I was in a pinch and didn’t have a lot of time to shop around.

    Today after reading about Allegacy and their rates I explored refinancing with them to save on interest. I reached out to them and they were fantastic!

    Opened an account and was contacted by a rep within an hour or two. She walked me through the process of refinancing and processed my application. After uploading a few docs my loan was approved! 72 months at 2.44%!

    Their customer service and process was top notch. I can’t recommend them enough!
     
    • Like x 1
  17. TheTonester

    TheTonester Member

    Joined:
    Thursday
    Messages:
    9
    Location:
    Delaware
    If you don't mind my asking, how were you able to join not living in NC?
     
  18. MJRoses23

    MJRoses23 Member

    Joined:
    Aug 29, 2019
    Messages:
    12
    Location:
    Ohio
    You can join by being a member of certain associations. When you apply for an account you select that as your qualification. Then pick the association you want to join and add that dollar amount to your original account balance. The one I picked was only 20$.
     

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