Tesla loan comparison spreadsheet - auto updates hourly

[Cyclone]

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.​

Eligibility | NC, SC Credit Union Membership | Sharonview FCU

 

[ChrisianZ]

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

Big downpayment? Did you include your deposit amount that Tesla makes you put down?

 

[groovidad]

I ended taking a 72 month @ 2.43. A year longer but $125/mos less. I normally pay more towards principal so, I'm pretty happy with financing! Good luck to everyone else!

 

[Cyclone]

Big downpayment? Did you include your deposit amount that Tesla makes you put down?

I only put down the $3,500 Tesla collected as a down payment. I haven’t gotten the loan disclosures yet to see what their LTV limits are.

 

[64Driver]

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.​

Eligibility | NC, SC Credit Union Membership | Sharonview FCU

 

[gh0001]

Eligibility | NC, SC Credit Union Membership | Sharonview FCU

Thanks cyclone and 64Driver. It seems that everyone should be able to join Hobby Farmers of America for $20.

 

[64Driver]

Thanks cyclone and 64Driver. It seems that everyone should be able to join Hobby Farmers of America for $20.

Yah, I'm waiting until I hear back with my approval. I'm just going to take their offer to lightstream.

 

[gh0001]

Yah, I'm waiting until I hear back with my approval. I'm just going to take their offer to lightstream.

What’s the advantage of going to lightstream?

 

[T3slaMecca]

Sharonview FCU

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

Do you know how long Sharonview rate locks your quote? Also what's the max % they're willing to finance?

 

[sixty]

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

Which one did you join? How long did it take?

 

[64Driver]

Which one did you join? How long did it take?

I haven't joined any yet. Will if they need me too but doubt it since I'm going to lightstream. Charlotte folk society is instant looks like.

 

[TribeDC]

What’s the advantage of going to lightstream?

I used lightstream. I locked in my rate a month ago and have delivery set for 11/28.

Lightstream matches any other offers, actually they will beet the offer by .1%. It’s also an unsecured loan, so I did not have to provide any car info like the VIN. They overnighted the deposit directly into my account and I won’t have any bank on my title.

The process was seamless and I highly recommend it.

 

[ConSaab]

I just submitted an application to sharonview federal credit union. Do they provide a approval letter after they have made the decision or do I have to open up an account with them?

 

[64Driver]

I just submitted an application to sharonview federal credit union. Do they provide a approval letter after they have made the decision or do I have to open up an account with them?

Apparently they call you then you can request the loan offer paperwork. This is before you agree to join.

 

[ConSaab]

Thanks for the info. I applied for 72 month terms. I'm anxious to see what they will offer.

 

[Cyclone]

Do you know how long Sharonview rate locks your quote? Also what's the max % they're willing to finance?

Not yet, but as soon as I do, I’ll be posting the info here. Tesla hasn’t provided me a sales order yet and I suspect either Sharonview is waiting to see that before sending out the docs (they asked for something from Tesla to show I’m purchasing the car) or it just hasn’t shown up here yet, which is entirely possible given it hasn’t been a week yet.

 

[ChrisianZ]

I just applied to Sharonview Federal Credit Union. I said I was joining the Charlotte Folk Society, but did not yet. Hopefully, things move fast next week since Thanksgiving will surely hold things up. If I'm scheduled to pick up the car on November 26th, will they hold the car for a few days while I settle financing?

 

[sunhelm]

@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.

I also got an email late Friday and I sent them the paystub info and vehicle purchase order they were requesting late Friday. This weekend, I got an alert from the credit monitor agency that they ran my credit check so looks like things are moving much faster than the 2 week turnaround. Hope to hear from them early this week.

 

[ConSaab]

I just got a call from Sharonview FCU. The had provided me a pre-approval for 3.49% for 72 months. The rate is a little higher than Tower Credit Union (3.24% at 72months).

The representative was really nice and informed me that they do also match rates. She needed my approval letter from Tower to offer that rate.

The challenge is getting a "approval letter" from Tower Credit Union since they require you to open an account. They have a internal messaging system they use to provide approval notices. Anyone has any experience with Tower Credit Union? if so, anyway I can get a approval notice form them so I can submit it to light stream?

I would rather go with light stream since it's un-secured loan...

 

[voip-ninja]

I just got a call from Sharonview FCU. The had provided me a pre-approval for 3.49% for 72 months. The rate is a little higher than Tower Credit Union (3.24% at 72months).

The representative was really nice and informed me that they do also match rates. She needed my approval letter from Tower to offer that rate.

The challenge is getting a "approval letter" from Tower Credit Union since they require you to open an account. They have a internal messaging system they use to provide approval notices. Anyone has any experience with Tower Credit Union? if so, anyway I can get a approval notice form them so I can submit it to light stream?

I would rather go with light stream since it's un-secured loan...

Be aware Lightstream offers BOTH secured and unsecured loans. You will find out which you are approved for when you apply. Since you have 30 days to fund the loan with Lightstream I would recommend applying with them first to find out where you stand and then you can worry about getting them to rate-match afterwards since you have lots of time.

Lightstream has gotten much stricter on matching and will often refuse to match pre-approvals. They would want full approval documentation from the other bank which many banks are reluctant to do until you're about to fund the loan.

It's kind of a lot of hoop jumping, I got lucky and they matched with just a PDF of a pre-approval from another CU.

Absolutely having an unsecured loan has lots of advantages but the individual borrower has to decide if the extra hassle is worth it.