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Tesla loan comparison spreadsheet - auto updates hourly
- Thread starter T3slaMecca
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Makes sense. Just trying to figure out if in my Tesla account I should choose the pay with cash or third party bank option since LightStream will deposit the money directly into my bank account and I can wire it to Tesla.
My thought process is to choose pay with cash and then when I go to the DMV I can put LightStream on the title and register/pay taxes. Unless Tesla handles the title portion prior to me registering and paying taxes then in that case I’d go with the third party loan option.
If Lightstream approves your for unsecured loan, you never put Lightstream on the title as a lien holder. If they approved you for a secured loan, they will probably want to send the money directly to Tesla.
A word of caution here for anyone who is still interested in AFCU.. I don't think DO40 or any other paid membership will work any more. AFCU now requires a formal union documentation as per my last phone call with the loan officer. Also received an angry email from DO40 stating they were contacted by AFCU for all the recent memberships. And AFCU has stopped accepting members of DO40 because of "what they regarded as abuse, possible hacking and interstate issues". The email even talks about legal actions.. sigh
So - STAY AWAY!!! It may be wise to remove ActorsFCU from the spreadsheet.
So - STAY AWAY!!! It may be wise to remove ActorsFCU from the spreadsheet.
FloridaGary
Member
I completely missed seeing this spreadsheet before obtaining my loan with Fairwinds, but fortunate to receive a .75% interest rate for a 3 year loan. There is a small discount if you have an account and set up auto pay on the loan. I was going to pay full cash, but the money I keep up front will make more than the cost of the loan over 3 years.
I wondered about the bank fraud issues. Not that they'd bother to prosecute anyone who didn't actually rip them off of money, but yeah...
Also wondered about using a program called Dancers Over 40 to apply for a loan as a 36 year old. lol
That happened to me last Fri. They denied my membership application and accused me of fraud. She even specifically stated that "all of you Tesla people are abusing the system". She was very rude. I told her I legitimately joined an organization(DO40) that their website said were eligible for membership. She lied trying to state that you had to be a union card holder even though it clearly stated on their website that "members" were eligible. Then she tried to say that I frauded DO40 because I wasn't over 40. I'm 50 yo. I guess they were bombarded with applications. I don't understand why they are angry as they are making $ with all of the loans. So yes, definitely avoid Actors FCU and DO40. We are dead to them.
n2mb_racing
Active Member
Ah, you are lucky. My app failed with them. They couldn't verify my out of state license. I own a business in FL and should have qualified, but they killed me app after pre-approving it.
Anyone have any success recently with Tower?
n2mb_racing
Active Member
Do you mean PasadenaFCU? There are several PFCUs.
I was looking at Andrews at 1.89%
AndrewsFCU
n2mb_racing
Active Member
Will they send you an "approval letter" with all the terms? It can't say "pre-approval". I'm having a hell of a time getting lightstream to match anything lately.
DarthNikola
Member
So much to read in this thread so excuse the question - found a great rate at a CU in Western Connecticut. Best by far in the local area and easy to become a member if you live nearby. Can it be added for others to use?
Mount Kisco NY Tesla Customers be aware!
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2.79 for 60 months if you do electronic payment, or 3.04 for 72.
Mount Kisco NY Tesla Customers be aware!
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2.79 for 60 months if you do electronic payment, or 3.04 for 72.
FloridaGary
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n2mb_racing
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