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When to apply for a loan

Discussion in 'Model S: Ordering, Production, Delivery' started by Coco13, Mar 31, 2017.

  1. Coco13

    Coco13 New Member

    Joined:
    Mar 31, 2017
    Messages:
    2
    Location:
    30068
    When is the right time to apply for the Tesla loan?

    I think I got excited and applied too early. My order specialist said I will get my Tesla end of April/early May. I wanted to lock in the lowest interest rate possible, so I went ahead and applied. I got this message at the bottom
    Note: Loan offers are valid for 30 days and Interest Rates are valid for all deliveries prior to 4/1
     
  2. ZERO260

    ZERO260 Member

    Joined:
    May 22, 2016
    Messages:
    90
    Location:
    Waldorf MD
    I went with Alliant credit union lowest rate around with good credit. I put in the application early and delivery went beyond 30 days but the rate was still the same. Most lenders will check your credit again to ensure nothing negative has changed. Real smooth process. They are very familiar with the tesla process.
     
    • Disagree x 1
  3. MasterT

    MasterT Member

    Joined:
    Dec 19, 2016
    Messages:
    507
    Location:
    North Miami Beach, FL
    I think you should've not applied until My Tesla or email or your DS letting you know that your car went into production. I dont know if you will have to reapply or not.

    Check out Financing - non-Alliant options? thread for another options.In particular, Tech Credit Union, which you can become member even if you're not in Texas, still approves for 72 months 100% financing for 1.49%. Here is the Tesla loan app from Tech CU
    Tech CU - Online Loan Application Center
     
  4. boonedocks

    boonedocks Member

    Joined:
    May 1, 2015
    Messages:
    783
    Location:
    Gainesville, GA
    My credit union approved me for a fixed rate for 60 days so no brainer. If I had a 30 day lock I would have waited until "in transit" in the USA
     

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