Yes, I saw it too. Not sure if they just need it in the beginning and you can transfer the funds elsewhere after Tesla got the money
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Tesla loan comparison spreadsheet - auto updates hourly
- Thread starter T3slaMecca
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I was texting with my delivery person yesterday and they said the best they thought Tesla could do was 3.7% for 72. I guess it can’t hurt to ask?
Btw something regarding the Lightstream rate beat.
For them to match apart from having some sort of proof or document from the other bank.
Their terms say that the Amount, interest, purpose and payment method must be the same.
I am gonna go with Pasadena FCU Allegacy only finances 90% of MSRP (only the cost of the car, no delivery fees, registration, sales tax, plate etc..) , not Full value.
IMO spreadsheet should be updated since that is vastly different than all other banks on the spreadsheet I called.
For them to match apart from having some sort of proof or document from the other bank.
Their terms say that the Amount, interest, purpose and payment method must be the same.
I am gonna go with Pasadena FCU Allegacy only finances 90% of MSRP (only the cost of the car, no delivery fees, registration, sales tax, plate etc..) , not Full value.
IMO spreadsheet should be updated since that is vastly different than all other banks on the spreadsheet I called.
Updated the spreadsheet to reflect 90%. In the header of this column it's mentioned that though most banks will state 100%, they will usually fund 90%.
Hmm that still does not convey clearly the drastic difference.
% funded is not the issue.
It's what is that percentage from.
While almost all banks states % financed from Final Sales Price ( including Delivery Fees, Sales Tax, Registration, title, plates).
Allegacy does not they only fund 90% of MSRP. This excludes delivery fee, sales tax, registration, title plates.
In other words, if two credit unions both approve you for the following car config:
AWD $62,000
Delivery Fee $1,000
Subtotal $63,000
Sales Tax $3,780
Final Sales Price $66,780
Allegacy:
% funded is not the issue.
It's what is that percentage from.
While almost all banks states % financed from Final Sales Price ( including Delivery Fees, Sales Tax, Registration, title, plates).
Allegacy does not they only fund 90% of MSRP. This excludes delivery fee, sales tax, registration, title plates.
In other words, if two credit unions both approve you for the following car config:
AWD $62,000
Delivery Fee $1,000
Subtotal $63,000
Sales Tax $3,780
Final Sales Price $66,780
Allegacy:
- $67,000 Not to exceed 90% MSRP
- Max Amount Lended/Financed $55,800
- 67,00 90% Final Sales Price
- Max Amount Lended/Financed $60,107
That's an additional $4,307 dollars needed to be paid on downpayment/ at delivery.
boriszima
Member
Ok, I just deposited the fee for opening the account on Pasadena + Downpayment.
They provide 1.99 for 60 months with 100% (if you qualify).
In my case, I rightly so got qualified for only 90% of the Final Sales Price.
Next step is waiting for some form of final document to sign for Pasadena regarding the loan.
And for the Cashiers Check Tracking Number and copy of it to hand to Tesla tomorrow at Delivery. (hope they accept that.. she mentioned that's what they done and that everything should be good/ready for tomorrow delivery at midday EST.)
Nicely done, 1.99% is a bargain in this market. Btw, when will electric planes be ready? Saw your site, looks nice!
This is what I heard from my loan officer as well. They don’t do ACH/wire for fraud reasons. I should get the purchase agreement in next couple of days from Tesla to get things going with PFCU.
Tip it was taking forever to get thru my delivery advisor.
I went to my delivery/service center and talked to the guys there.
They were able to change my account and emailed the contracts team directly to get a contract.
I had it posted on my account within the hour.
maybe you can try calling or dropping by to your store(mine was a 5 minute detour from my commute
)I just got the approval email for 1.99% 60-month financing from Pasadena Federal Credit Union. The process couldn't have been easier. I applied for a checking account and the loan yesterday (all online), and within less than 24 hours, I had the approval letter. I'm not even going to bother with LightStream for .1% less. The difference is less than $3 a month.
Thanks for putting that spreadsheet together @T3slaMecca. It's extremely helpful
Thanks for putting that spreadsheet together @T3slaMecca. It's extremely helpful
Cameron A
Member
I just got the approval email for 1.99% 60-month financing from Pasadena Federal Credit Union. The process couldn't have been easier. I applied for a checking account and the loan yesterday (all online), and within less than 24 hours, I had the approval letter. I'm not even going to bother with LightStream for .1% less. The difference is less than $3 a month.
Thanks for putting that spreadsheet together @T3slaMecca. It's extremely helpful
I second everything you mentioned. Exact same situation.
I just got the approval email for 1.99% 60-month financing from Pasadena Federal Credit Union. The process couldn't have been easier. I applied for a checking account and the loan yesterday (all online), and within less than 24 hours, I had the approval letter. I'm not even going to bother with LightStream for .1% less. The difference is less than $3 a month.
Thanks for putting that spreadsheet together @T3slaMecca. It's extremely helpful
You're very welcome
many others pitched in as wellBtw got a email from songwriters guild. ( Had asked for proof of membership before actorsfcu asked for just a pic of the email last week)
They said that free membership should not give you fcu access and either pay the 225$ version or they will cancel it.
We definitely wanna remove them from the spreadsheet and leave dancers over 40
They said that free membership should not give you fcu access and either pay the 225$ version or they will cancel it.
We definitely wanna remove them from the spreadsheet and leave dancers over 40
They are definitely coming along pipistrel has theirs.
Next generations are definitely going to have more range and capacity and it only goes up from there
BTW got my AWD Model 3 few hours ago will be unwatching this thread somebody can tag me if they had any questions
MatildaModelY
Active Member
If you live OR work in downtown Chicago, go with Source 1 Credit union. https://chicago.source1cu.com/contact-us/
They offer 1.99% on all new auto loans, up to 72 months, with maximum financed amount of $40,000
They offer 1.99% on all new auto loans, up to 72 months, with maximum financed amount of $40,000
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