with the right expectation they are probably fine. Just keenin mind they are a VERY small credit union with like 3 loan officers at most. As such things won’t necessarily move as quick as some others and they’ll be some snail mail involved with the forms. That said they seem to do a lot of Tesla deals and get them all done..
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Tesla loan comparison spreadsheet - auto updates hourly
- Thread starter T3slaMecca
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with the right expectation they are probably fine. Just keenin mind they are a VERY small credit union with like 3 loan officers at most. As such things won’t necessarily move as quick as some others and they’ll be some snail mail involved with the forms. That said they seem to do a lot of Tesla deals and get them all done..
mcorf
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I have had nothing but great experiences with them. I applied for my loan on a Friday morning and had my approval that afternoon. My loan last year was the same. They sent my check Fed-Ex overnight and will do the same as soon as the car arrives. In fact, last year I rejected my initial Model 3, sent them back the check and they sent me a new one with the new VIN on it. I would e-mail Angie Harris, [email protected]. She has helped me with both cars and is excellent.
Finalized the loan after uploading the MVPA. Check arrived at my house the next morning. Very easy process and the only requirement is to have a direct deposit set up and loan payments made from the DCU checking account. No mention of having the whole check direct deposited. Only thing between me and the MY is accepting delivery next week.
most financing offers are only good for 30 days. You should wait until it gets closer to delivery..
mcorf
Member
CarolinaCooperative is good for 30 days, but if you go over you only need an updated pay stub, they won't run your credit again.
Tesla told me they updated the length of time the quotes are good for to 60 days. I ordered mine on October 16th with a estimated delivery date of Nov 18 - Dec 20. I applied on Friday and was approved through TD Financial with a rate of 2.99%... I emailed Tesla financial and asked them why I dint get approved with Tesla directly and why I did not get a rate of 2.49%.
Tesla Finance replied within minutes and said we have changed your offer to 2.19% through JP Morgan chase....I was shocked.. Keep in mind this is for a 72 month loan.
I am considering changing to a 60mo loan. I am curious if they will drop the rate even more.
Carolinacoopcu is offering 1.99% at any term up to 84 months. I wonder if Tesla would match this rate?
Lightstream.com will match and beat any loan you are approved for by .10%, so if you applied to the CU you mentioned, you could get 1.89% via lightstream. I did this with my Model 3, which I just sold.
Will likely do the same with the Model Y I have on order.
Will likely do the same with the Model Y I have on order.
I originally got quoted at 2.99 for 72 months...I emailed finance asking why I didn't get the advertised 2.49 and they automatically updated my account to reflect 2.19 with JP Morgan chase.... This morning I changed my build from performance to Long Range....so I told them I wanted to change the financing to 60 months instead of 72. I asked for a lower rate and they only came down from 2.19% to 2.09%.
I then emailed them back telling them I expected a significantly lower rate by changed from 72 to 60 months....they just replied
"Feel free to you use your own financing, if you can find better terms.
Keep in mind that 2.49% is the advertised rate that our lenders aim for."
It was worth a few emails to get a lower rate but not worth re applying elsewhere...so I accepted the offer. The difference between 2.09% and 1.99% for a 60 months term financing 40k is literally $2 per month....
Filled out a Alliant/tesla application for 72months and got approved for 2.49%. I asked if i were to move to 84months (for flexability) if i would still get the 2.49%... nope it would be 3.99%.
Shopping around still but alliant seems to be the top right now with how easy they seem to make the whole process.
Im in texas but is there a way i can apply for another tesla bank like chase, who i bank with?
Shopping around still but alliant seems to be the top right now with how easy they seem to make the whole process.
Im in texas but is there a way i can apply for another tesla bank like chase, who i bank with?
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mcorf
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Gvardaman
Member
I just got the notice of approval for financing from a 3rd party at the 2.49%. I saw my credit union is now offering the same rate, so I will try to Emil back and see if the offer changes. I a, also at 72mo. But may go to 60 for a better rate.
I am glad I saw this discussion! Thanks to the OP for making the spreadsheet and starting this thread.
I am glad I saw this discussion! Thanks to the OP for making the spreadsheet and starting this thread.
mcorf
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