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Tesla loan comparison spreadsheet - auto updates hourly
- Thread starter T3slaMecca
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Just added Campbell CU to the spreadsheet. Great rates at 1.9% for 60 months. May be stale rates since page updated on Aug 1.
The website says it was updated Aug 1, that's why the rate may not be updated.
Sorry won't let me edit. The above question was in regard's to Campbell CU.
"Did you have to mail in an application for a checking account first? They are telling me that the application has to be mailex (not faxed or emailed). Just curious as this will take a little time to get setup."
Hey all,
I am currently shopping around for a M3 Loan and Interested in applying for the special promotion by campbell CU. This is my first time applying through CU so I am a bit confused with the process.
I am currently living in Dallas, TX and would like to open an account with them to take advantage of the loan rates. Do I have to apply for an account in person? does it require residency in FL?
any information on this process would be appreciated.
I bank with Chase and currently have had experience with Chase Auto Loans.
I am currently shopping around for a M3 Loan and Interested in applying for the special promotion by campbell CU. This is my first time applying through CU so I am a bit confused with the process.
I am currently living in Dallas, TX and would like to open an account with them to take advantage of the loan rates. Do I have to apply for an account in person? does it require residency in FL?
any information on this process would be appreciated.
I bank with Chase and currently have had experience with Chase Auto Loans.
You can apply if you live in TX, just join their organization (ACC -- it's free)
See if you can apply for the loan first: Application Disclosure
For some CUs, you can apply for loan and they'll just add you as a member.
Let us know how many days they rate lock you in and max % they're willing to finance the car.
Good luck! Keep us updated
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That sucks. I have a check in the mail to them now to open an account. Spoke with someone yesterday and they said that I had to have an account open before applying. They also had confirmed the 1.9% was still available as of yesterday. Hopefully the change wasn't because of an increase in tesla loans.
The spreadsheet in this forum was really helpful in finalizing my loan, i went with Insight Credit Union in Orlando for 2.25% but working with them is agonizingly slow and inefficient, they have outdated systems and way behind in technology, they require one to go to a branch for opening the membership, which cant be done online, on top of that they have weird requirements with buyer's order from Tesla which delayed my delivery by a week or so, i would not recommend anyone going with credit union,shop somewhere else and dont waste your time with this CU
According to the spreadsheet, there are 2 "easy" CUs for a 60 month loan, Campbell at 2.25% APR and Allegacy at 2.94% APR. The credit union I'm already a member of is offering 3.57%. The breakdown, in monthly payment amount, of the three APRs mentioned for a $27000 loan (what I'm expecting to borrow) is as follows
Campbell 2.25% - $476
Allegacy 2.85% - $484
my current CU 3.57% - $492
Though the monthly payment amounts differ very little, I acknowledge that over 60 months, the difference can add up, $480 or $960. But still, in the grand scheme of things (60 months / 5 years) it's not a HUGE difference. Do you think it's worth the trouble to still apply to one of those CUs in the spreadsheet?
Campbell 2.25% - $476
Allegacy 2.85% - $484
my current CU 3.57% - $492
Though the monthly payment amounts differ very little, I acknowledge that over 60 months, the difference can add up, $480 or $960. But still, in the grand scheme of things (60 months / 5 years) it's not a HUGE difference. Do you think it's worth the trouble to still apply to one of those CUs in the spreadsheet?
voip-ninja
Give me some sugar baby
Sounds like you are making a very large down payment or are buying an MR car without auto-pilot. I put $14,000 down and my payments, with a 2.29% Lightstream rate match are quite a bit higher than the ones you quoted.
For me, the difference in loan rate between CUs like Everence and Allegacy (which I used to rate match with Lightstream) amounted to something like $1700 over the life of the loan.
I will do some work for $1700... at least a few hours worth anyway.
How much are you borrowing? Down payment doesn't matter, it's how much you borrow... and as I stated, I'm borrowing $27k.
Though many of the APRs listed in the spreadsheet for 60months is sub 2%, I'm thinking many of those will be pretty hard to come by. That's why I focused on the two APRs (2.25 and 2.85) for comparison, but even then, I'm questioning the work involved, and maybe potential drawbacks?, to save somewhere between $500-$1000 over 5 years. I've never shopped around very much for loans, that's why I'm asking.
voip-ninja
Give me some sugar baby
I understand how a down payment works. Only you can decide what your time and effort are worth. If you are asking how hard the application process is with Allegacy it is not very hard or time consuming.
Insight is in the removed section of the spreadsheet for a while now, you must've gotten the loan a while back. They really have strange rules there.
JBare
Member
You can apply if you live in TX, just join their organization (ACC -- it's free)
See if you can apply for the loan first: Application Disclosure
For some CUs, you can apply for loan and they'll just add you as a member.
Let us know how many days they rate lock you in and max % they're willing to finance the car.
Good luck! Keep us updated
2.75% for 72 months seems like the best deal I'm eligible for, assuming I join ACC I'm good to go? I live in Northern VA
This spreadsheet is awesome by the way!
See if you can join the CU -- they may have a process to auto join you to ACC. Maybe best to all and find out. And you're most welcome!
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