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Tesla loan comparison spreadsheet - auto updates hourly
- Thread starter T3slaMecca
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I applied through Tesla and got 2.49% through TD Bank. Emailed Autofinance to see if they could get lower rate and waiting to hear back. Do they work on the weekend or waiting until Monday?
I mostly want Chase as seems like they are easier to deal with than TD Bank from reviews and people here.
I mostly want Chase as seems like they are easier to deal with than TD Bank from reviews and people here.
I got .98% with a credit union and Tesla matched it!
FYI, I received this from a Tesla advisor (not my assigned one) regarding financing:
Currently, US Bank / Wells Fargo / Chase would all have 60 day approvals. TD Auto finance and BMO Harris would be valid for 30 days. Anecdotally, in my experience the majority of our approvals that I see come out of the US Bank, WF, Chase grouping of lenders.
Currently, US Bank / Wells Fargo / Chase would all have 60 day approvals. TD Auto finance and BMO Harris would be valid for 30 days. Anecdotally, in my experience the majority of our approvals that I see come out of the US Bank, WF, Chase grouping of lenders.
Hello everyone! I finally applied for Tesla Financing and was just approved for Wells Fargo 72 months 2.49%! I'm super happy. If I "Confirm", does this mean I cannot still email [email protected] in a few days to shop a better rate?
Tesla is not doing any better rates on their own right now. You would need to shop around and show them proof so they can match it. you have seven days for them to update the rate after delivery.
id436eg9045
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At what point do I absolutely need to have financing sorted out? I’ve been waiting for the bank that held the loan on my previous vehicle to mark the loan as closed before applying for new financing. I don’t want that to be the holdup on me getting a VIN though.
I applied today and received an approval loan at 2.29% for 75 month. I emailed [email protected] soon after to see if they could do better and they came back with 2.19% for 72 months. I was trying to see if they would come back with the same rate or lower for 84 months and they responded back that Tesla only does loans up to 72 months. So, I wrote back and said I will just keep my USAA approval.
So when we are trying to get a lower rate from Tesla, should we accept the best rate Tesla offers, THEN shop around for a lower rate and ask to match once we find one? Or should we just straight outright ask for a lower rate to Tesla before confirming their financing? Do I need to confirm Tesla's offer before negotiating a lower rate?
If you don’t have an approved loan the system will not prioritize you for a VIN
Current financing policy is that you can submit a rate match up to 7 days post-delivery day. You should confirm an approved loan term so that you’re prioritized to receive a VIN
I had approved offers from PenFed and USAA. Once I had those I submitted my request, I'm 3-4 weeks out from delivery, to the RateMatch email and they usually respond within a day to either match yours or do slightly better. I attached the instructions from Tesla that lays out all of the guidelines.
Attachments
Should I even bother sending an email to the [email protected] email then? Or just send rate match requests to the rate match email and not even bother with the other email?
I did the [email protected] email like it said in the attachment. I guess you could send it to both to see if you get different responses. It may be the same office folks or two different ones. I was happy with the same day (within a couple of hours) response when I emailed RateMatch. If you have an approved offer and you're within 30 days of taking delivery I'd send in your request. Just attach a PDF, Screenshot, or save JPG of your approved offer and they take care of the rest. No other personal information needed other then including your RN from your order.
I hate to be that “guy” but this isn’t accurate in the slightest. I’ve talked to probably 5 SAs at multiple locations who have said the exact same thing. The only thing that matters when it comes to VIN prioritization is the initial deposit date and your profile submission. I asked to clarify about the profile submission and the only thing they consider is the pick-up location and the registration information. All others including insurance are fluid and do not affect anything.
This makes absolute sense as it tracks with what Tesla (and other SAs) have said about waiting to secure financing until later in the quarter so a second credit hit isn’t felt.
it also tracks because one could simply put “pay in cash” and under the auspice of the vin system prioritization idea, be golden, only to have their SA change it last minute.
tl;dr: financing and insurance sections of the profile have no bearing on VIN prioritization.
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