Tesla loan comparison spreadsheet - auto updates hourly

[mrkbig]

is the spreadsheet not working anymore?

 

[wingiv]

I agree. Not working. Really would love this spreadsheet to work. It states that it was last refreshed on Dec 17, and it's Dec 21.

 

[Puku88]

Regarding the auto loan from the North Carolina CU, anyone knows how their approval process works? 1.99% is great but not sure how to be qualified for it. Is that hard to get the 1.99% rate? I have a FICO score 770+ for all three credit bureaus but what are the ideal dept-to-income ratio or other factors they expect? Thanks in advance!

The approval process appears to be a Transunion inquiry - you should be fine with 750 or above. Process is very smooth and well orchestrated. Overall the entire process (qualify to be a member, become a member, apply/approve and funding) is roughly 5-7 business days - it could go faster is pushed, but each situation is different.

 

[Protect1989]

Carolina Coop takes forever. While their rate is amazing (1.9% for up to 84 mos w/ excellent credit), they have to physically mail you documents that have to be physically mailed back before you can even apply for the loan.

 

[Puku88]

Carolina Coop takes forever. While their rate is amazing (1.9% for up to 84 mos w/ excellent credit), they have to physically mail you documents that have to be physically mailed back before you can even apply for the loan.

They do use the mail and yes you have to physically sign and return documents. On the flip side, each time I've had this interaction it's been via FedEx overnight - not a big deal.

Plus, at least for me, I ordered my M3 roughly 70 days ago, so waiting a couple days for paperwork was a very basic task anyone should be able to accomplish to save some $$$.

To each there own, some people live in a world of necessary instant gratification - patience is a virtue.

 

[Protect1989]

They do use the mail and yes you have to physically sign and return documents. On the flip side, each time I've had this interaction it's been via FedEx overnight - not a big deal.

Plus, at least for me, I ordered my M3 roughly 70 days ago, so waiting a couple days for paperwork was a very basic task anyone should be able to accomplish to save some $$$.

To each there own, some people live in a world of necessary instant gratification - patience is a virtue.

I should have specified, I ordered an inventory M3 and was paired with a VIN immediately. They are trying to schedule delivery before the end of the year, so I am on a bit of a time crunch.

 

[Puku88]

I should have specified, I ordered an inventory M3 and was paired with a VIN immediately. They are trying to schedule delivery before the end of the year, so I am on a bit of a time crunch.

Ahh, yes, well if that was the case Carolina would make that a frustrating experience. Fwiw, they are pretty responsive and nice - seems like they finance quite a few Tesla's and know the process etc.

Hope you get enjoy that bad boy/girl soon!

 

[Protect1989]

Ended up going with PCFU (current using them on my Model Y loan).

84 mos
2.74% APR
800+ credit score

 

[Roosherdc]

Would recommend vibrant credit union. 1.9% up to 72 months. Did not go through them originally but the Reid process was super simple and completely through email and phone. Should work for purchase loan along with refi if paying over 1.9%

 

[Gvardaman]

Woo Hoo! This is great, I wrote to the finance people as well and was able to drop my rate from 2.49% to
2.39%! They are srill waiting to hear back from one bank, so it could get even better.

Since the 2.49 already matched my credit union (First Entertainment) I would not have asked again about this, had it not been for this thread. Thanks very much!

 

[Gvardaman]

So, I posted the above and then saw the newer messages. Vibrant credit union? I will have to look them up! Every bit helps.
Again, thanks.

 

[Roosherdc]

Yup vibrant credit union

1.9 up to 72 months and I think 2.49 to 84
Victoria
#309-796-7500 ext. 3264

 

[atheurer]

For Carolina Community FCU, my total time from initial contact to funds wired was about 14 days. Given all the paperwork was actual physical paper, I am quite happy with this. Some of this time was also waiting on Tesla to provide MVPA. Rate was 1.99 for 84 months. I’ll be looking into home refinance through them based on this experience.

 

[mkay]

Would recommend vibrant credit union. 1.9% up to 72 months. Did not go through them originally but the Reid process was super simple and completely through email and phone. Should work for purchase loan along with refi if paying over 1.9%

Thank you!

I was already approved for 2.29% via Chase but came across this thread and your post. Vibrant CU approved me for 1.9% online without any hassles.

 

[usood89]

For Carolina Community FCU, my total time from initial contact to funds wired was about 14 days. Given all the paperwork was actual physical paper, I am quite happy with this. Some of this time was also waiting on Tesla to provide MVPA. Rate was 1.99 for 84 months. I’ll be looking into home refinance through them based on this experience.

Hey is this who you used? TIA

Carolina Cooperative FCU

 

[KtY2021]

Yup vibrant credit union

1.9 up to 72 months and I think 2.49 to 84
Victoria
#309-796-7500 ext. 3264

Is is possible to become a member with them even if you don't live in the state or work for one of the companies they have listed?

 

[Jackspat2]

just completed my financing today. i asked them to pair me with a bank with the lowest rate (I gave them a list of various banks) and it seems BMO Harris has the lowest rate. I was able to get a 2.14% rate for 72 months with them. You can run loan applications through various banks all within 15 days and they will all count as one hard inquiry. If you're comfortable with the 2.29 rate, take it otherwise, shoot them another email asking if they can go lower and you can even apply to other 3rd party banks if you think you can get something lower and if you're in this same 15 day window as when you applied with Tesla and your credit wont take too much of a hit since it'll only count as one hard inquiry.

As a reference for anyone trying to negotiate the rate with Tesla, below is a screenshot of the email I sent them and they sent over a new loan offer in about 15 minutes

View attachment 618382

That’s a good rate. I asked them to go back and run it with different banks and I got 2.19% for 72 months with BMO Harris about a month ago. Probably means rates dropped a little.

 

[M(ezcal)60]

Is is possible to become a member with them even if you don't live in the state or work for one of the companies they have listed?

i got approved almost instantly by vibrant last night but when i called today to finalize docs i was told by the rep that vibrant doesn't currently lend to customers in california. too bad because their 1.9% for 60 months was very attractive

 

[KtY2021]

i got approved almost instantly by vibrant last night but when i called today to finalize docs i was told by the rep that vibrant doesn't currently lend to customers in california. too bad because their 1.9% for 60 months was very attractive

Thanks for your reply. I will look elsewhere.

 

[atheurer]

Hey is this who you used? TIA

Carolina Cooperative FCU

Yeah, sorry, that's what I meant