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Thread: BECU Update

  1. #1
    Junior Member
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    BECU Update

    I have confirmed, as of Nov 01 BECU will now finance ALL EV's
    Apparently they would only consider Leaf and two others prior to
    01 Nov. Than has now changed. Maybe Car of the Year changed theri minds!

    Good news for all who have had to deal with BofA!!!

    Bob
    P4168 Gig Harbor

  2. #2
    Banned
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    I have not found a bank that wouldn't, it's the insurance I am having an issue with.

  3. #3
    P-1456 Francis Lau's Avatar
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    May 2012
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    I picked up my Model S at noon today and funded my BECU loan at 11 am. It was a bit tricky and I think I am the first one to actually execute the loan. I was at a local BECU branch last night but they could not fund the loan because they needed a dealers invoice or official MSRP paperwork. Tesla has neither and the underwriter could not proceed. This morning, the case was escalated several times and it was finally resolved.

    A final small hiccup was that the car did not value at the full price. It did not matter much to me since I was flexible in the down payment amount. Interest rates are so low and that is why I took a loan and kept my cash for investments. However, if you are tight on cash and you want a 80% or 100% loan, this may trip you up.

    I wonder if anyone else has bumped into this valuation issue.

  4. #4
    Quote Originally Posted by Francis Lau View Post
    I picked up my Model S at noon today and funded my BECU loan at 11 am. It was a bit tricky and I think I am the first one to actually execute the loan. I was at a local BECU branch last night but they could not fund the loan because they needed a dealers invoice or official MSRP paperwork. Tesla has neither and the underwriter could not proceed. This morning, the case was escalated several times and it was finally resolved.

    A final small hiccup was that the car did not value at the full price. It did not matter much to me since I was flexible in the down payment amount. Interest rates are so low and that is why I took a loan and kept my cash for investments. However, if you are tight on cash and you want a 80% or 100% loan, this may trip you up.

    I wonder if anyone else has bumped into this valuation issue.
    First Tech CU pre-approved at the car's value with the Pre-MVPA from finalization. Then we got the funds once we recieved the VIN.
    First Tech would finance up to $75k on new cars.
    Signature 909

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