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Tesla loan comparison spreadsheet - auto updates hourly
- Thread starter T3slaMecca
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I didn't see EECU when I was searching for loans. I thought I had more time while waiting for my LR AWD, but then a sleeper became available sooner, so it became a rush getting a competitive loan. Considering the short time frame I had to work with SFCU did a good job. Just wasn't the lowest rate.
SoCalMike
Member
Tesla will still match it after delivery within 7 days and send you a check for the difference in total interest over the loan. Best Rate Guarantee
Tesla kinda dragging to respond. I still don’t have a VIN and didn’t apply for financing thru Tesla. Applied thru EECU and got the preapproval letter in my inbox. Should I apply for financing now thru Tesla or make sure they’ll match the 1.99%?
Also, if I’m understanding correctly, Tesla financing may be better because there is no early payoff fee? I also don’t feel like opening another checking and savings account thru EECU.
Also, if I’m understanding correctly, Tesla financing may be better because there is no early payoff fee? I also don’t feel like opening another checking and savings account thru EECU.
Yep - apply for financing through Tesla, (i think the lowest i've seen them go is 3.24) once you get approved, send your EECU approval letter to [email protected] with a short description asking for a match. They usually get back to you in 1 business day.
Is
this gonna kill my credit? I have an 800+ credit score and don’t want two different places pulling my credit. I also had a background check done with credit report for new place too.
Because I haven’t bought a new car in 15 years and I’ve only got loans thru dealers. Finally my first big car purchase .How do you have a 800 credit score and not know that you can run multiple car loan applications within a month and only be affected once ?
Tesla can rate match for SR+ because they did that for me last week when I matched EECU's 1.99%. You should be good to go.
Hm, I emailed the rate match guys with my approval letter and asked if I needed to join, he said no, but I haven't gotten confirmation/approval from Tesla yet. . .
Ryanide
Member
Tesla's loan rate was first posted on my account at 3.7% for TD Auto, then it was updated the next morning to 3.5% by Wells Fargo Auto. I applied directly to BofA and got approved for 3.24%, so I emailed Tesla's Rate Match and they matched and updated it on the Account page. BTW my registration also includes my company name, so it may have had a higher rate because of that. My Credit score is 835.
FYI, Lightstream has been getting difficult compared to the past when I got a loan with them back in the days (circa 2018). Now, they want a Truth in Lending statement (loan agreement would've been technically eligible too) compared to just accepting an e-mail confirming the loan terms, rate, and amount, but what sealed the fate of not able to go with them is that the matching loan must be unsecured, meaning no lien. It used to be that they didn't care. Now Lightstream cares. Therefore, I am grateful that I'm still able to get a 2.49% APR financing at USPTO's PTO FCU for 60 months (they offered 1.99% APR for 48 months). Before anybody asks, PTOFCU requires membership with conditional requirements.
MSM Eric
Member
NAVYFED approved me for 72 months at 2.99% on Friday. (other approvals through Tesla were Chase at 3.15 and US Bank at 3.49)
The FedEx package arrived today with the pre-approved check to use at Tesla.
Took 5 minutes on the phone and saved $7/month.
The FedEx package arrived today with the pre-approved check to use at Tesla.
Took 5 minutes on the phone and saved $7/month.
MSM Eric
Member
Why bother with rate matching? I feel like the bank that offers the best rate should should be given the business.
Still don’t know why some of you in LA aren’t looking at LAFCU. 2.74% and no first payment for 90 days is huge.
take the money you’re saving in 3 months of car payments, add $50 for the referral signup and put that money towards an IRA or Roth and in 5 years you’ll make 6-8% compounding every year!
take the money you’re saving in 3 months of car payments, add $50 for the referral signup and put that money towards an IRA or Roth and in 5 years you’ll make 6-8% compounding every year!
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