Tesla loan comparison spreadsheet - auto updates hourly

[sunhelm]

TMC community: Need some help and guidance

We applied for a CU loan... "

Hi. I'm from NJ as well and applied at Campbell CU. When I called today, the lady said it takes 2 weeks for approval? Has that been your case as well? My delivery is in 2 weeks and I will likely not be ready with payment on delivery date.

What was your turnaround time for decision in your case with Campbell?

 

[sunhelm]

Have you had any update with Campbell? I emailed them an application last week and they still don't have an account set up. I asked about the processing of auto loans and they said it could take up to 2 weeks to process an application?! Tesla contacted me and said I could have my car by November 26th. What is the time frame for anyone who has gotten a loan from Campbell in NJ?

Thanks!

Hi Chrisian. Seems like we're in the same boat. Became a member on Tuesday, applied for a loan on yesterday and they said the same thing, 2 week approval and my delivery date is on 11/27!

Are you still waiting for your approval? Just wanted a point of comparison as to the experience with Campbell.

Thanks!

 

[sixty]

I just spoke with a loan offier from MCU, their rate is 2.45% for 60 months with auto pay instead of 1.95%. 1.95% is only when you buy thru their TrueCar buying service.

 

[Cyclone]

Does anyone know of a way to contact LightStream customer service beyond just emailing [email protected] ? It’s been three business days (only 48 hours though) without contact from them when I asked them to rate beat, and I’m hoping there is a “live” way to engage them.

 

[SemiS3XYR]

My wife got approved for the 2.25 at 60 when we joint applied so YAY! but Campbell's auto loan policy is interesting and proving a little difficult to work with. I didn't expect to take delivery of THE 3 we want so quickly (inventory) or else we would have sorted weeks before.

Tesla can only hold a car for 7 business days after the car is at the delivery center but my delivery adviser is trying to make a strong case for us to bend the rules while we work this out. If anything I have the Tesla 3.99% to fall on but don't really want to unless forced to.

@sunhelm
I'm still trying to work it out with Campbell.
"Unfortunately we would not be able to post the loan until you have actually saw and test drove the vehicle. We don’t process loans if the member has not seen or test drove the vehicle.
Once we have the retail buyers order and you agree to the loan terms we would post the loan and send the check to the dealer via FedEx and the dealer would have the check the next day."

So the turn around time wasn't exactly defined and I'm trying to have Campbell bend the rules a little bit on their end too.
Keep you all posted if I prove successful!

 

[ChrisianZ]

@sunhelm
I got an email that they needed paystubs to prove income and they wanted the retail buyers order. I scanned the paystubs and sent them back, but after hours. I guess we'll see what happens next.

@S3XYBack
They didn't ask if I test drove the car, but fortunately I did. Did you send them the retail buyers order? Did Tesla send it to you or directly to them? If you sent in paystubs, how many days afterwards were you approved? Congrats, by the way.

I read about getting extra key cards. If we call ahead, how many extra can we get?

 

[T3slaMecca]

I just spoke with a loan offier from MCU, their rate is 2.45% for 60 months with auto pay instead of 1.95%. 1.95% is only when you buy thru their TrueCar buying service.

Thanks for reporting, added & noted .5% to the MCU's base rate on the spreadsheet.

 

[Cyclone]

Are you saying that they will rate beat with just a pre approval. Doesn't even have to be a finalized loan?

Does anyone know of a way to contact LightStream customer service beyond just emailing [email protected] ? It’s been three business days (only 48 hours though) without contact from them when I asked them to rate beat, and I’m hoping there is a “live” way to engage them.

So I finally got traction today. Yesterday I reached out to them on Facebook Messenger and they said I could fax the info to (844) 728-5305. So I sent the approval letter over via fax last night around midnight and the loan was just updated. This is an unsecured loan too!

 

[64Driver]

So I finally got traction today. Yesterday I reached out to them on Facebook Messenger and they said I could fax the info to (844) 728-5305. So I sent the approval letter over via fax last night around midnight and the loan was just updated. This is an unsecured loan too!

View attachment 353449

What credit union did you match

 

[Cyclone]

What credit union did you match

Sharonview FCU

NC, SC Credit Union Loan Rates | Sharonview Federal Credit Union

 

[groovidad]

So I finally got traction today. Yesterday I reached out to them on Facebook Messenger and they said I could fax the info to (844) 728-5305. So I sent the approval letter over via fax last night around midnight and the loan was just updated. This is an unsecured loan too!

View attachment 353449

Great rate! Congrats!

 

[sixty]

Sharonview FCU

NC, SC Credit Union Loan Rates | Sharonview Federal Credit Union

looks like anyone can apply simply by joining one of the local associations.

How's the approval process? How long did it take?

 

[Cyclone]

Great rate! Congrats!

Thanks!

looks like anyone can apply simply by joining one of the local associations.

How's the approval process? How long did it take?

I submitted the application at about 1 am, it said “Pending Approval” instantly when I check the status, and by end of business that day I had the approval letter. A loan officer in one of the branches reached out and sent me the approval letter.

 

[64Driver]

Thanks!



I submitted the application at about 1 am, it said “Pending Approval” instantly when I check the status, and by end of business that day I had the approval letter. A loan officer in one of the branches reached out and sent me the approval letter.

Did you have to be a member first ?

 

[64Driver]

Answered my own question. Membership not required to apply. Just applied, hoping for 60 months at 1.99 with $0 down. Will update this week with what I get.

 

[sixty]

That's great. I would like to know if they accept applications from people out side of their service area.

 

[64Driver]

That's great. I would like to know if they accept applications from people out side of their service area.

Apparently they do. Just need to join one of the organizations listed on their website. Cheapest is $20

 

[ChrisianZ]

Thanks!



I submitted the application at about 1 am, it said “Pending Approval” instantly when I check the status, and by end of business that day I had the approval letter. A loan officer in one of the branches reached out and sent me the approval letter.

Did you have to send in paystubs during the process or was it requested afterwards?

 

[gh0001]

Apparently they do. Just need to join one of the organizations listed on their website. Cheapest is $20

I couldn't find information regarding one of the organizations on their website? I can only find the following. Please let us know if you have more info. Thanks.

A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a "field of membership." The field of membership may include where they live, where they work, or their membership in a social or economic group. Call 704.969.6700 or 800.462.4421 to see if you are eligible to join Sharonview.​

 

[Cyclone]

Did you have to send in paystubs during the process or was it requested afterwards?

I submitted driver’s license, paystub, and W2 with my app.