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What is best financing rate now?
- Thread starter bartekr
- Start date
Wow, nice. Are you actually eligible for FedChoice or was there an automated approval system?
I am actually eligible. A rep called me the day after I applied to verify.
Ditto.
Is it your understanding that you now have 60 days to go to the online link to sign the loan, complete some verification process, and schedule the funds transfer?
Mine says offer expires 9/14. I’m not going to wait until the last day (or even week), but I’m in no hurry to get the funds (and start making payments) since I don’t even have a VIN. On the other hand, don’t want to do anything that could jeopardize this offer, so kind of tempted to just get the money immediately.
Once I got approved for the unsecured loan I changed my Tesla payment method to cash. Now I just have to wait!
I accepted and then asked for the rate beat. I think I had to fund by 9/17. I’m expecting a car the first week in Sept so that works for me!
I think the only Lighstream verification is done prior to approval. After that, they need you to e-sign the loan docs and provide your bank info.
That is awesome! You can make over 0.5 point spread by popping that money into a 1.90% online savings account while you wait for your VIN
Stellavator
Member
What does it mean that it is "unsecured"? Does that mean they can send you the check, rather than wait to send directly to tesla?
Yes, they just give you the money in your bank account. They will not be listed as a lien holder on the title.
Mo City
Active Member
I just got 3.09% for 84 months from Allegacy (based in NC). I live in Texas.
Have to become a member (takes 5 mins and $20 online) to apply for a loan.
I applied by phone (took 10 mins) and got a call less than 24 hrs later with approval.
10% down required.
Haven't gotten a car loan in ages but this was unbelievably easy.
Have to become a member (takes 5 mins and $20 online) to apply for a loan.
I applied by phone (took 10 mins) and got a call less than 24 hrs later with approval.
10% down required.
Haven't gotten a car loan in ages but this was unbelievably easy.
So do you have 60 days to go online and sign? Do you also have to schedule the funds transfer to happen with in the first 60 days?
hurjio
Member
As far as I know, you have 30 days to sign, and then you have up to 30 days from the signing date to draw your funding.
Where do you see that you have 30 days to sign? Mine just says this offer is valid until 9/14. Nothing about having only 30 days to sign.
The offer being valid until 9/14 is how long you have until you sign. After you progress past that, you have another timeframe to schedule getting your cash.
Allegacy has requirements, but several where you can just donate 10 bucks to a non-profit to join.
I'm guessing you got approved 8/15? That would translate into 30 days to sign your document. If you sign in to the website you'll see the 30 days. I also called to double check everything and that's what they told me. 30 days to sign, then 30 days to fund.
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