Pre-approved Friday through Alliant Credit Union (Tesla partner for non-direct sale states) for 2.49% for 72 mo, 0 down. Also allow 110% loan to value to provide some cash for sales tax payments for those of us that have to do registration and sales tax at the DMV.
Can someone let me know how they contacted Tesla financing to request a lower rate? I didn't see an email contact. Thanks in advance.
Adding my experience since it was this thread that got me my deal: Checked out Carolina Coop and others, rates offered as low as 1.99% for 72 months. Considering multiple credit inquiries for auto loans in the same period don't count against your score, decided to see what Tesla could do for me first, due to simplicity of application. Applied and received offer via email within the hour. Tesla offered me: U.S. Bank 72 months, 2.49% APR I replied back and and asked if they could check with other partners. Within 10 minutes they said: BMO Harris was able to offer a lower rate at 2.14%. I accepted this. To me the hassle of dealing with a small local bank, unknown to me via offline paper transaction was not worth it to me for .14% savings. Super easy. Thanks for the help forum! (disclaimer $15k down, 790-820 Credit score)
Bingo - worked for me as well. This forum is a great resource. I was initially offered 2.49% for 72 months via US bank. I simply emailed [email protected] as suggested and within 15 minutes for back to me and said they changed my offer to Chase and 2.29%. I have an 820 credit score. Having Chase will be convenient for me too as that's where many of my other accounts are. I initially was not going to finance any of the Model 3 Performance order i just placed, but with returns in the market at 40% last year, 2.3% feels like free money and I'd rather put it too work for me than have it sit in the car doing nothing. I also needed more credit accounts to help my credit score. For me this has been a refreshingly simplified experience from dealing with your typical dealership financing where they try to hard sell paint protection, extended warranties and such by leaving you sit for hours on end and selling like a magazine door to door salesman. This is the way buying a car should be. Now I need to see if they can deliver the car before the lock of 60 days runs out. I'm sure they can handle that situation if it happens though.
I applied through Tesla and was approved with BMO Harris at 4.35% for 72 months. I took the advice from other posts and emailed Tesla finance and within 15 minutes they came back with Chase at 2.89% for 72 months. Credit score is 761.
Just to throw my experience out there: Financed thru Tesla and was given 2.49% w/ Wells Fargo (beginning of Feb). Saw others had gotten 2.19% so I called (no answer, voice prompt said to email). Emailed autofinance and waited a day… was given 1.94% via JP Morgan-Chase. Ecstatic!!! 840 fico $0 cc debt Own my home (20% left on mortgage) Put 15k down and financed the rest. TL;DR - email teslafinance! The worst they can do is give you your existing rate.
This is almost my experience exactly with the only difference being 2.14% through Chase. Since they already hold my mortgage and one of my CCs, I'll take the ease of effort and avoiding an unknown for $150ish over the life of the loan.
Yup. There was a small deposit and to open a savings.. Think it was ten bucks or something. They make it super easy
Just adding an experience here - 72 mo, 80% loan-to-"value" (value = entire cost, MSRP + taxes + fees) with FICO > 800 - 2.04%! No emailing back and forth, this is what spit out.
Same Tesla story for me...2.49% through US Bank. Got ahold of Stanford Credit Union and the loan specialist seemed pretty confident that you can obtain a 1.49% rate if you meet the below criteria: 1) Have a credit score above 740 2) Open a checking account and have monthly $500 paycheck deposits 3) At least 25% down-payment They also require you to be a member of a local library, but they'll sign you up for that membership for free...so it's not even really a requirement. Anyways, in the process of getting my account setup now. Will update the thread once everything has played out.
I applied through Tesla on 2/21/21 and was approved by BMO Harris at 60 mos 2.14%, less than 10% down. I wrote to [email protected] requesting a lower rate and was approved for 1.94% through Chase, which is my main bank. That’ll do, that’ll do. 822 Equifax, good debt-to-income ratio.
I applied through Tesla yesterday (2/25/21) and received 2.49% through Wells Fargo with zero down. It took them about 28 hours to get back to me. 732 FICO and solid debt-to-income ratio.
Has anyone else had Tesla auto adjust your rate on you? I applied back on 12/14/20 when I placed my order and got 2.14% for 72 months; I noticed today it'd changed to 2.54% but didn't have any updated credit inquiries. The only thing I can think of is it's been 60+ days since I applied, and am not due to pickup my car until 3/3, so I'm guessing their credit app is only good for that duration and they adjusted the rate? If so, it would be nice if that was mentioned somewhere, unless I've overlooked it. Either way, I emailed Tesla auto finance to see what gives. **Edit: While I wrote this, I emailed Tesla, they emailed me back and adjusted the rate as it was previously. Pretty fast turn around.
Updating my original post, Updating my original post, Stanford Credit Union has in fact given me 1.49%. This is with a 740+ credit score, a SFCU checking account with a $500 monthly direct deposit, and either an SFCU credit card or a down payment of at least 25% on the vehicle.
Congrats! I applied for a membership, credit card, and auto loan through them. It took a week to even get someone to respond, and I eventually bailed on them. I’ll live with my 1.94% through Tesla.