I'm in the process of trading in my 2013 Model S and was bummed that I was going to lose my 1.49% rate that I had since August 2013 so I started shopping around. Lo and behold...there is a local Maryland credit union (First Financial Federal Credit Union) out of the Baltimore area that has a 1.49% rate for new OR used cars with terms up to 72 months, $0 down and NO LIMIT.
Before I applied I called Alliant to see if they would match the rate. My original loan rep, Julie, said no. So I called back and got Chris. Chris said as long I could show them an approval letter from another bank, they would match the rate. In addition, Alliant wouldn't even need to pull my credit again or go through a big hassle. Since I already had an account in good standing with them I would be "automatically" approved.
The one catch with the credit union was that you needed to be a "5-star member" which basically meant I had to open a savings account (and fund it with $5) and get a Visa card with them. I didn't need another VISA but when they told me the rate on the VISA was 8.9% annually with no annual fee, I didn't complain.
Here is the link:
https://firstfinancial.org/rates/index.htm#autoloans
I can't imagine that there is a better rate than this anywhere. It's not going to work unless you are in the Baltimore/DC area since you have to be affiliated with a local business, church or hospital but I'm sure there are other local credit unions that Alliant will match.
John
Before I applied I called Alliant to see if they would match the rate. My original loan rep, Julie, said no. So I called back and got Chris. Chris said as long I could show them an approval letter from another bank, they would match the rate. In addition, Alliant wouldn't even need to pull my credit again or go through a big hassle. Since I already had an account in good standing with them I would be "automatically" approved.
The one catch with the credit union was that you needed to be a "5-star member" which basically meant I had to open a savings account (and fund it with $5) and get a Visa card with them. I didn't need another VISA but when they told me the rate on the VISA was 8.9% annually with no annual fee, I didn't complain.
Here is the link:
https://firstfinancial.org/rates/index.htm#autoloans
I can't imagine that there is a better rate than this anywhere. It's not going to work unless you are in the Baltimore/DC area since you have to be affiliated with a local business, church or hospital but I'm sure there are other local credit unions that Alliant will match.
John
