Tesla loan comparison spreadsheet - auto updates hourly

[TheTonester]

This is calculated directly from allegacy with a monthly payment of 667.84. This is for the life of the 40k loan total 44k payments, which doesn’t include the remaining balance of the car paid by cash. Something is still off about it

Can you either do a copy/paste of it, or post a picture of it? With any personal info/account numbers blacked out?

 

[shrini23]

@T3slaMecca tagging you here coz I didn't see the credit union Digital Federal Credit Union (DCU) on your spreadsheet.

I've been with my CU for more than 10+ years as a member (DCU - Digital Federal Credit Union) the rate given to me was 2.99.
Usually 3.24 for being a member and doing direct deposit.
Buying an EV so they gave me 0.25 less rate.
Called them to see if they would do a price match and it is a No-Go

 

[SK360]

I applied for an Allegacy account this morning, still haven't heard anything yet. I have to pick a delivery date of Wednesday, Thursday or Friday next week... Hope I can make it lol

 

[newuser21]

They want 2 most recent pay stubs.

1. I applied for a membership on Friday (applied online, and a few hours later they requested a copy of my driver's license and proof of address).
2. Called them on Saturday morning (800-782-4670) to verify that my account was active and that I was cleared to apply for the loan. On the phone, they told me that I needed to wait until they sent the packet in the mail that included my member number (not to be confused with the account number). I asked if they could send me my member number via email so I could apply right away. They sent it over some secure temporary website.
3. With the member number, it allowed me to sign up for an online account
4. Once you're logged in, you can apply for the auto loan. It said I was approved and that I would be contacted by someone
5. Since it was on a Saturday, they called me today (Monday) morning to ask what car I was looking to purchase, and asked me to send me a copy of my driver's license (again), recent 2 pay stubs, proof of any other income (if entered on your application), proof of auto insurance, a reference and their phone number, order agreement, and ASAP- the final price sheet (Motor Vehicle Purchase Agreement for Teslas). They also provided the lien information/address to be entered on Tesla's website.
6. Since I'm planning to take delivery of my car next Monday and haven't heard from a delivery specialist yet, I called the local SC directly and apparently no one was assigned to me as their delivery specialist. So the person I spoke to on the phone ended up becoming my delivery specialist and they were very quick to finish up my paperwork.
7. Once the Motor Vehicle Purchase Agreement was uploaded on Tesla's website, I just emailed that to Allegacy and they should be ovenighting the check to Tesla. They need the purchase agreement 2 business days before delivery date so they can get the check sent on time.

Hopefully that helps. Given that my other choice for financing was Bank of America at 3.19%, this little bit of extra work is saving me approx $1100 in interest over 5 years

I am in the weird situation. I am scheduled to pick up Model 3 this Saturday. I am getting 3.24% 72 Months with Tesla. I submitted application at Allegacy yesterday and my account is active now and was able to login with member ID. So, now i have to apply for the loan however i do not have enough time. I am thinking to pick up Saturday with Tesla Financing and refinance next week. They are offering 1.99 for 66 months that i cannot pass. Do you think it will work like that. Picking up Saturday and refinancing next week?

 

[scgator1]

I applied for an Allegacy account this morning, still haven't heard anything yet. I have to pick a delivery date of Wednesday, Thursday or Friday next week... Hope I can make it lol

If you already have your Motor Vehicle Purchase Agreement from Tesla along with all the necessary documentation and you’re already a Allegacy member, you could probably apply today and get everything approved and have the check sent by tomorrow, which should be delivered by Monday/Tuesday

 

[scgator1]

I am in the weird situation. I am scheduled to pick up Model 3 this Saturday. I am getting 3.24% 72 Months with Tesla. I submitted application at Allegacy yesterday and my account is active now and was able to login with member ID. So, now i have to apply for the loan however i do not have enough time. I am thinking to pick up Saturday with Tesla Financing and refinance next week. They are offering 1.99 for 66 months that i cannot pass. Do you think it will work like that. Picking up Saturday and refinancing next week?

Probably not enough time. Honestly if it was me I would try to delay the delivery date. That way you won’t have to pay a refinancing fee. Or see if Tesla will match the 1.99% (given that you apply and get approved for it)

For the actual loan processing process, it only took about 2 business days to complete the process and to mail the check. I’m sure that if you have all the necessary paperwork and are quick to reply to their emails (they always answered within an hour) you could complete the entire process in one day.

 

[newuser21]

Probably not enough time. Honestly if it was me I would try to delay the delivery date. That way you won’t have to pay a refinancing fee. Or see if Tesla will match the 1.99% (given that you apply and get approved for it)

For the actual loan processing process, it only took about 2 business days to complete the process and to mail the check. I’m sure that if you have all the necessary paperwork and are quick to reply to their emails (they always answered within an hour) you could complete the entire process in one day.

I bought Standard Range, so they will not match the rate. How much was the cost for a new loan ( fees) with Allegacy? (Excluding loan amount). I would say refinancing fees and new loan origination fees should be same. And i do not have to pay loan origination fees with Tesla Financing.

Also, how did you deposit $10? After you deposit can you then apply for the loan? Or you have to wait until check is cleared?

Thanks for you help.

 

[SK360]

If you already have your Motor Vehicle Purchase Agreement from Tesla along with all the necessary documentation and you’re already a Allegacy member, you could probably apply today and get everything approved and have the check sent by tomorrow, which should be delivered by Monday/Tuesday

I just applied for Allegacy membership this morning. No MVPA yet

 

[shrini23]

whoever applied for allegacy CU
Did you guys apply for a auto loan or are you opening a new membership

 

[shrini23]

Probably not enough time. Honestly if it was me I would try to delay the delivery date. That way you won’t have to pay a refinancing fee. Or see if Tesla will match the 1.99% (given that you apply and get approved for it)

For the actual loan processing process, it only took about 2 business days to complete the process and to mail the check. I’m sure that if you have all the necessary paperwork and are quick to reply to their emails (they always answered within an hour) you could complete the entire process in one day.

@scgator1 I'm having my delivery on 9/30.
If I apply for allegacy account today. Will I be able to get everything sorted and get delivery on time.
I spoke to my advisor, as I got two deviations they are not providing me the 2 year free super charging.. so for me I could move my delivery date a bit if it needs to be

 

[newuser21]

whoever applied for allegacy CU
Did you guys apply for a auto loan or are you opening a new membership

They will not take your application before you become a member.

 

[newuser21]

@scgator1 I'm having my delivery on 9/30.
If I apply for allegacy account today. Will I be able to get everything sorted and get delivery on time.
I spoke to my advisor, as I got two deviations they are not providing me the 2 year free super charging.. so for me I could move my delivery date a bit if it needs to be

I am sure you will be fine. You have enough time.

I am picking up this Saturday and they gave me free 2 year supercharging. Not sure why they are not honoring you.

 

[shrini23]

They will not take your application before you become a member.

Do I need to live in the county/commmunity or work in one of the places to become a member?
I am from Texas and in all possibility would I be able to join or become a member?

 

[shrini23]

I am sure you will be fine. You have enough time.

I am picking up this Saturday and they gave me free 2 year supercharging. Not sure why they are not honoring you.

yeah I told my advisor the same thing. he is saying that it is one or the other.
I got deviations for color and wheels so he is saying I cannot get the 2 yr free SC

 

[newuser21]

yeah I told my advisor the same thing. he is saying that it is one or the other.
I got deviations for color and wheels so he is saying I cannot get the 2 yr free SC

Oh okay.

 

[newuser21]

Do I need to live in the county/commmunity or work in one of the places to become a member?
I am from Texas and in all possibility would I be able to join or become a member?

Yes, anywhere in the US

 

[shrini23]

lucky are the guys who got both deviations and free SC.
I got only deviations and 2000 miles of super charging

 

[scgator1]

I bought Standard Range, so they will not match the rate. How much was the cost for a new loan ( fees) with Allegacy? (Excluding loan amount). I would say refinancing fees and new loan origination fees should be same. And i do not have to pay loan origination fees with Tesla Financing.

Also, how did you deposit $10? After you deposit can you then apply for the loan? Or you have to wait until check is cleared?

Thanks for you help.

There was no loan origination fee. Only thing I will be paying is the interest.

You only need to deposit $5 to start the account. You also need to pay $10 donation. You pay the $15 total when you sign up for the membership. Afterwards for the loan itself, you don’t pay anything up front

 

[scgator1]

I just applied for Allegacy membership this morning. No MVPA yet

They will want the Purchase Agreement at least. But they won’t cut the check until the MVPA is sent. I had to call my local SC to have them finish it and post it on my Tesla account

 

[scgator1]

@scgator1 I'm having my delivery on 9/30.
If I apply for allegacy account today. Will I be able to get everything sorted and get delivery on time.
I spoke to my advisor, as I got two deviations they are not providing me the 2 year free super charging.. so for me I could move my delivery date a bit if it needs to be

You have more than enough time. Just make sure you get Tesla to send you the MVPA, because Allegacy won’t send the check until they have that. Other things you will need are listed on my earlier post.