That being said, another 2 cents with PenFed is that you have to be on top of them; the squeaky wheel gets the grease. I started the loan process on 11/27/12, on 11/29/12 they told me what they needed from me, on 11/30/12 I faxed it in (they had no option to scan and e-mail securely), on 11/30/12 I called them to see if they received my faxes and they could not tell me because the faxes go to one center and the calls to another. On 12/1/12 they said they did get my faxes and they were going to a loan officer but that I was not able to talk directly to the loan officer (& I believe if I was in their presence I would not be able to directly look into their eyes). On 12/4/12 there had still been no update to my online status from 11/29/12. I called today, 12/5/12. They said that they had not received the faxes until 12/4/12 which I said was odd since I had faxed them on 11/30/12! They asked why I had not provided my car type and VIN which I said was odd because I provided that EACH time I called in because the phone-jockeys kept misplacing it. They asked where were my W-2s and I mentioned that when I told them I was self-employed that they wanted my tax returns instead that I had already faxed that in along with bank statements and other income. Its going to be reviewed. Time to catch some Zzzzzs. This seems like a loan mill and when you are non-conforming with respect to the car choice & for me with respect to being self-employed, the wheels seem to fall off the efficiencies.
Just following up with my PenFed saga:
Just received a "conditional approval" email from PenFed today. The condition listed in the email is:
PLEASE PROVIDE VIN PRIOR TO DISBURSAL.
So, Tesla, are you listening? I need to get a VIN to send you guys some money! Help me help you!
Would someone that's gone for the full $70k from Penfed over 60 months (I assume that's the longest term?) mind confirming what the monthly payment is? According to my calculations it's around $1185pm, assuming a 1.49% ?
Btw, in response to my email (posted earlier on this thread) to PenFed, received this response today; so, maybe, like Andrew Wolfe did, I may get a check rightaway (and may have to start payments before the car arrives?!) - will update when I hear back.
Thank you for your response. I forwarded these documents to your Processor for
review. We have no problem financing Teslas. We will enter the details in
manually. We usually require the vin before we can disburse a check, but I
requested that the loan officer make an exception. Please check back with us in
24-48 hours for a status update either online at PenFed or via phone at
VIN P 65513 - P85D, Green, Pano Roof, Textile Seats, Piano Black trim, Black Alcantara Headliner, Tech Package with Autopilot, Dual Chargers, Subzero Package, Smart Air Suspension, 19" Wheels, Delivered December 2014
VIN P 3552 - 60 kWh with Supercharging, Green, Black Roof, Black Leather, Piano Black trim, Tech Package, Active Air Suspension, 19" Wheels, 28,343 miles, Delivered January 2013, RIP August 2014
I worked with Navy Federal and they were great. The rate isn't as low as Pen Fed but 1.79% for 60 months isn't bad. They are overnighting the pre-approval check to me and I just have to complete it when the car shows up.
This is going to be a tough couple of weeks waiting for the car.
P85. VIN05837. Mileage (09/29/15): 85,000mi, Black | Tan Leather | Perf Seats | Obeche Glossy | Pano | Tech | Sound Studio | Air | Spoiler | Parcel Shelf | Twin Chargers | HPWC | Fog | Extended Trim | Alcantara | Premium Lighting, Aftermkt: XPEL | 40/20% Tint | Lighted T | 19" Tsportline TST Grey Turbines | 255/45ZR19 Michelin Pilot Sport A/S3
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