What is best financing rate now?

[fengshui]

I just got 2.39 for 60 months unsecured with lightstream on a rate beat to tower fcu in Maryland. $35 donation to the tower charity for membership.

 

[gtbuzz]

Also, where on their site does it mention the .25 off for the direct deposit?

It didn't. After my loan was approved, a loan officer called me to talk about what the next steps are and she told me about the additional discounts. I have a feeling she thought I might be shopping around still.

 

[lairdb]

It didn't. After my loan was approved, a loan officer called me to talk about what the next steps are and she told me about the additional discounts. I have a feeling she thought I might be shopping around still.

That’ll be tough to document for Lightstream.

 

[gtbuzz]

That’ll be tough to document for Lightstream.

Yeah, that was my thought but honestly it's already a really good rate so if I'm within the 60 rate lock I'll just keep my business with them.

 

[azdryheat]

If you can do the payment, I was just approved for 100 LTV 23 months at .99% at San Francisco Federal Credit Union. Approval was in 24 hours. I am getting almost twice that on a savings account at another CU (Alliant).

 

[Bays]

If you can do the payment, I was just approved for 100 LTV 23 months at .99% at San Francisco Federal Credit Union. Approval was in 24 hours. I am getting almost twice that on a savings account at another CU (Alliant).

That's great. It looks like you have to live in San Francisco or San Mateo countes. Alas, I'm in Santa Clara County.

 

[azdryheat]

That's great. It looks like you have to live in San Francisco or San Mateo countes. Alas, I'm in Santa Clara County.

I work in San Mateo County, but live in Arizona and I qualify.
You need to either live, work, or worship in one of these counties. Or be a relative of a member. Maybe go to church?

 

[stopparde01]

Do yiu guys now if those SFFCU rates apply also to refinancing ?
I do not want to sign-up needlessly.

 

[azdryheat]

Do yiu guys now if those SFFCU rates apply also to refinancing ?
I do not want to sign-up needlessly.

My approval says 2017 or newer and no more than 5,000 miles.

 

[azdryheat]

SF Federal Credit Union also has some pretty good rates for used/longer terms. Here are the latest rates.

 

[denimird]

Does anyone know if you have to become a member of Allegacy to get an approval and rate for a loan? It had the option of applying as a "non member" but I didn't want it to deny my application. However, I would prefer to know the rate I will receive before applying to be a member.

 

[DirtnStreet]

Does anyone know if you have to become a member of Allegacy to get an approval and rate for a loan? It had the option of applying as a "non member" but I didn't want it to deny my application. However, I would prefer to know the rate I will receive before applying to be a member.

Must become a member first, and rate will depend on credit etc. so they will only say “as low as” but will not commit to a rate until the loan is approved.

 

[notamerican]

Just got approved by Lightstream. 3/69% for a 48 months loan. Unsecured.

What are the best FCU to beat it right now?

Looking for a 47/48 months lenght, excellent credit score, I live in the Bay Area (CA)

 

[asianxtreme]

Sorry - new to this thread - is there a distinct advantage of secured vs unsecured loan? I understand from a process standpoint it's a lot simpler, it basically just cash to Tesla (and the bank doesn't need to hold the title??).

Along those lines, what are some options for unsecured loans other than lightstream? 3.69% sounds a bit high. I'm looking for $30k, 36 months, and live in San Francisco.

 

[fengshui]

Lightstream is the only option for unsecured. Their 3.69% rate is high, but no one here is paying that. You only use the Lightstream unsecured loan with their rate beat program.

 

[CrazyCoconut]

Sorry - new to this thread - is there a distinct advantage of secured vs unsecured loan? I understand from a process standpoint it's a lot simpler, it basically just cash to Tesla (and the bank doesn't need to hold the title??).

Along those lines, what are some options for unsecured loans other than lightstream? 3.69% sounds a bit high. I'm looking for $30k, 36 months, and live in San Francisco.

Only LS does unsecured auto loan. Pretty much the only reason is for a more streamlined payment process with Tesla. 0.1% interest difference is neglible.

 

[THX723]

For those of you that managed to get unsecured loans, did you then specify the transaction as a "cash" purchase with Tesla? or is it still a "3rd-party Loan"?

 

[Goosby]

For those of you that managed to get unsecured loans, did you then specify the transaction as a "cash" purchase with Tesla? or is it still a "3rd-party Loan"?

Cash option for Tesla, and you’ll also not claim the vehicle as being financed with your insurance agency. I am paying with a cashiers check, though I’m slightly disappointed I don’t get to walk in with a briefcase full of bills. Oh well.

 

[Nirenk]

Has anybody used DCU Auto Loan Check option ? DCU sends you a check with “approved upto” amount and you can write dealer’s name, actual amount and VIN and give it to dealership. If I go this route, I won’t need to know VIN or exact amount (MVPA) till I go to pickup the car.

Auto Loan Check | DCU | Massachusetts | New Hampshire

 

[THX723]

Cash option for Tesla, and you’ll also not claim the vehicle as being financed with your insurance agency. I am paying with a cashiers check, though I’m slightly disappointed I don’t get to walk in with a briefcase full of bills. Oh well.

That was quite helpful. Thanks for the confirmation @Goosby.
Does Lightstream require a copy of the VIN'd MVPA before disbursing the fund?