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Tesla loan comparison spreadsheet - auto updates hourly
- Thread starter T3slaMecca
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I picked up a new demo inventory X P100D ludicrous this weekend. Still can't believe the deal I got. $81,800 white on white, 6 seat, EAP/FSD, 22 inch wheels w/ MSRP $160k. Initially got 72 months 3.33% from Tesla but I saw that Tesla has a 7 day rate match and looked up on here. Applied at EECU and was approved for 2.19% and sent the approval letter to Tesla and now they are matching it by sending my a check of over 3k in the next 2 weeks! Definitely feel like I hit the lottery with this car.
Where did you see this? I'm showing 3.29 on their website as their lowest advertised rate.
Any chance this vehicle was in Glendale?
If so, i hope they disclosed to you it was previously crashed and repaired. They’ve been trying to sell the car for a few weeks but every time, as soon as someone found out it was crashed, they canceled their order.
I ended up going with Lightstream for my loan through their rate beat program. Matched LA Financial credit union, which offered 3.89% for 84 months on my SR+. 3.89% was not on their website, I was expecting closer to 4.5%, but if your credit score is good, you get lower than published rates I guess. Could have had a much lower rate if I chose a shorter loan term, but my goal was basically to not increase my regular vehicle expenses without having to dip into savings. I now get free charging, so what I spent on gasoline (~400 a month), now goes to the car payment.
Lightstream matched and beat 3.89% by 0.1%, and its an unsecured loan, so no lien on the car.
I had to have a full approval (truth in lending statement) from LA Financial. Basically the documents that you would sign to complete the loan. When I initially sent Lightstream the truth in lending statement, they outright rejected it almost instantly because it stated it was a variable rate loan. The variable rate portion though, was simply the auto pay discount LA Financial offers, which Lightstream offers too. I had to respond and explain it was not a variable rate in the traditional sense, was merely an auto pay discount. They looked at the loan in actual detail and agreed to beat it.
Pretty happy with the rate, I'm earning 4% interest on my savings accounts right now, so basically a more than free loan for now.
Lightstream matched and beat 3.89% by 0.1%, and its an unsecured loan, so no lien on the car.
I had to have a full approval (truth in lending statement) from LA Financial. Basically the documents that you would sign to complete the loan. When I initially sent Lightstream the truth in lending statement, they outright rejected it almost instantly because it stated it was a variable rate loan. The variable rate portion though, was simply the auto pay discount LA Financial offers, which Lightstream offers too. I had to respond and explain it was not a variable rate in the traditional sense, was merely an auto pay discount. They looked at the loan in actual detail and agreed to beat it.
Pretty happy with the rate, I'm earning 4% interest on my savings accounts right now, so basically a more than free loan for now.
How did you get LAFCU to give you the truth in lending statement? I went through them at 2.99%, but in addition to being awful to work with they would not give me anything stating my APR until they were literally printing the check.
Does anyone know of loan terms longer then 84 months that are available either nationwide or in Washington state? I know it’s usually not smart to take a long loan, but I know Tesla has built the Model 3 for longevity, I plan to keep the car forever, I drive way under the yearly average (usually like ~6k miles a year), and I want to keep my payment low. I’ve currently been around ~$350/mo and it just feels crazy going to $500 a month or something. I’m hesitant to put more down since I’m trying to save a down payment for a house in the next 24 months. So I would like to keep a good portion of my savings in the bank and just pay more monthly (above what’s due) to knock the loan down faster, but have a lower “commitment” so if I need to reduce payments to quickly boost savings to cover closing costs on a property or something I have that ability. I have the ability to pay more and good strong job history (and 800+ credit score), I just want the flexibility to get at more on my terms 
normally you need to go through the entire process (right before officially signing the loan agreement) in order to see the disclosure page with terms.
I'm also interested in good options in WA state. All of the options I've looked at from here seem to be regional and the CU i've researched in WA seem to be offering pretty crappy rates. I think the lowest i saw was 3.49%...Does anyone know of loan terms longer then 84 months that are available either nationwide or in Washington state? I know it’s usually not smart to take a long loan, but I know Tesla has built the Model 3 for longevity, I plan to keep the car forever, I drive way under the yearly average (usually like ~6k miles a year), and I want to keep my payment low. I’ve currently been around ~$350/mo and it just feels crazy going to $500 a month or something. I’m hesitant to put more down since I’m trying to save a down payment for a house in the next 24 months. So I would like to keep a good portion of my savings in the bank and just pay more monthly (above what’s due) to knock the loan down faster, but have a lower “commitment” so if I need to reduce payments to quickly boost savings to cover closing costs on a property or something I have that ability. I have the ability to pay more and good strong job history (and 800+ credit score), I just want the flexibility to get at more on my terms
Yep, that's the best I can find too. I did just hear yesterday that there is a chance the fed drops the rates this month so maybe if we're lucky loan rates with trickle down a tiny bit....
They have to give you the truth in lending statement before they give you a check, it's the document you sign before they cut you a check. They electronically sent it to me, and I simply never signed it; instead I made a copy of it and forwarded it to Lightstream.
Anyone have experience with EvergreenDirect in WA? This is currently the cheapest I can find but have never heard of them. Rates | evergreenDIRECT Credit Union | Olympia, WA – Tumwater, WA – Lacey, WA
2.99 @ 48mo. and 3.24 @ 60mo. is not excellent but can't find anything lower...
2.99 @ 48mo. and 3.24 @ 60mo. is not excellent but can't find anything lower...
That’s who I was going to work with. I was actually hoping for a 96 month term with Progressions CU at 3.99% (going to pay more, but was hoping to commit to the lowest monthly) but will follow up with evergreenDirect depending what I hear from Progressions. I hate having a couple hard inquiries on my report so I’m hoping one of these guys work out.
Oddly Progressions didn’t pull a heard inquiry on initially apply, in fact they didn’t ask for a SS# at all. I got an email today saying they were going to process it today and asking for my most recent paystub. I wonder if they do an initial prequal and then if I want to continue with it they then pull the credit report...
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