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Financing

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I am in Michigan and I used Alliant credit union. I got the interest rate of 1.49% for 72 months loan. Now their rate is up to 1.74% which is still pretty good. You do have to donate $10 to a charity (listed on their website) to become their member and you need to have good credit score.
 
I asked Tesla a few days ago and they offer financing in Michigan through Technology Credit Union at http://techcu.com/tesla with a minimum rate of 2.99%.
I'm just going to use Credit Union ONE, which I'm already with and has 2.25% APR up to 84 months. I'll have a down payment of around 50% and should have it paid off in about a year. That's probably the best way for me to go since I don't have a credit score yet.
 
Digital Credit Union (dcu.org) is offering "as low as" 1.24% on up to 65 months. They also offer a 1/4% discount on "energy efficient" cars, which they define as an average EPA MPG of 35 or better. I've gotten conflicting information as to whether the "as low as" rate includes the energy efficient discount or not. One customer service rep in a branch said it did, but one of the reps at the call center said it did not, so the energy efficient rate could drop to 0.99%.

There is a review written 3 days ago from someone in MI who financed an X3, so it looks like they will write loans in MI (I think their only state limitations are mortgages). He/She got 1.24%, and the is X3 is EPA rated at 21 or 24 combined, so it looks like 1.24% is not the energy efficient rate.

https://www.dcu.org/loans/auto-loans.html
https://www.dcu.org/loans/energy-efficiency.html
 
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Digital Credit Union (dcu.org) is offering "as low as" 1.24% on up to 65 months. They also offer a 1/4% discount on "energy efficient" cars, which they define as an average EPA MPG of 35 or better. I've gotten conflicting information as to whether the "as low as" rate includes the energy efficient discount or not. One customer service rep in a branch said it did, but one of the reps at the call center said it did not, so the energy efficient rate could drop to 0.99%.

There is a review written 3 days ago from someone in MI who financed an X3, so it looks like they will write loans in MI (I think their only state limitations are mortgages). He/She got 1.24%, and the is X3 is EPA rated at 21 or 24 combined, so it looks like 1.24% is not the energy efficient rate.

https://www.dcu.org/loans/auto-loans.html
https://www.dcu.org/loans/energy-efficiency.html

Response from chat support:

Kathy: The discount would not apply to electric cars. It is based on miles per gallon, so the car would need to get an average of 35 MPG (Miles Per Gallon) to qualify.
 
Response from chat support:

Kathy: The discount would not apply to electric cars. It is based on miles per gallon, so the car would need to get an average of 35 MPG (Miles Per Gallon) to qualify.
I posted a question in the energy efficient loan Q&A asking if electric cars are covered, and, if not, why not, given that the average MPG as reported by fueleconomy.gov is well over the 35 minimum. If I get a chance, I'll call in and try to get someone to explain the reasoning.

Although it doesn't make much difference. $50k for 60 months is $854.47 @ 0.99%, $859.86 @ 1.24%
 
I posted a question in the energy efficient loan Q&A asking if electric cars are covered, and, if not, why not, given that the average MPG as reported by fueleconomy.gov is well over the 35 minimum. If I get a chance, I'll call in and try to get someone to explain the reasoning.

Although it doesn't make much difference. $50k for 60 months is $854.47 @ 0.99%, $859.86 @ 1.24%
A user at Tesla's forums says he/she got 0.99% from Digital Credit Union for 65 months, financing 90% of the price:

Did most of you take Tesla financing, or your own outside bank? | Forums | Tesla Motors

(BTW, no financial interest in DCU, etc, other than being a happy member for 15+ years. Mods, I assume it's OK to post that link to the factory forum, sorry if that's a no-no)
 
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I just went through all my rate shopping. DCU turned out to be the cheapest @ 1.49%. The Model S does qualify for the .25% Efficient vehicle program.
I took at 65 month at 1.25%, added .5% (because I was not goin to direct deposit income there), the subtracted the .25% to == 1.49%.

I was approved with Alliant 72 Months @ 1.74% as well.
 
I just went through all my rate shopping. DCU turned out to be the cheapest @ 1.49%. The Model S does qualify for the .25% Efficient vehicle program.
I took at 65 month at 1.25%, added .5% (because I was not goin to direct deposit income there), the subtracted the .25% to == 1.49%.

I was approved with Alliant 72 Months @ 1.74% as well.

Well, I just finalized with DCU and wanted to share a tip. I got 0.99% for 65 Months ...

There is a loop hole to get the .5%. Just direct deposit $500 per month and you're set.
 
Well, I just finalized with DCU and wanted to share a tip. I got 0.99% for 65 Months ...

There is a loop hole to get the .5%. Just direct deposit $500 per month and you're set.

tiblot -- I too just finalized with DCU, but was told my entire net paycheck must be direct deposit. How did you get them to agree to only $500 per month? Any special request I need to ask for?
 
Its the min. requirement to maintain the extra .5% rate reduction. They say 100% but theres no way to enforce or check that. I was advised by their loan officer that $500 is the real check.

So... The company deposit $500 into that account? or you can deposit $500 a month? I don't want my entire check direct deposit. I am happy with bofa. Please advised.