Page 13 of 49 FirstFirst ... 39101112131415161723 ... LastLast
Results 121 to 130 of 486

Thread: Financing options

  1. #121
    Junior Member
    Join Date
    Sep 2012
    Location
    Hall
    Posts
    4
    Quote Originally Posted by goaliemanshark View Post
    Can you finance through PenFed after you have paid for the car?

    Like you pay everything up front and then PenFed cuts you a check instead of Tesla?
    I think that would essentially be a re-finance/used car loan with PenFed, but I don't see any reason it should not work. Given their used/new rates are the same should be no impact.

  2. #122
    Rdstr254->725->MS1364 HUN DrTaras's Avatar
    Join Date
    Dec 2007
    Location
    Woodland Hills, CA
    Posts
    1,078
    Quote Originally Posted by goaliemanshark View Post
    Can you finance through PenFed after you have paid for the car?
    Like you pay everything up front and then PenFed cuts you a check instead of Tesla?
    Its called a "Title Loan" and the delay you'll have is that you need your DMV to get you a "Free & Clear" Title; Not sure how that all works.

    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.
    Over 150,000 page views of "The Hun!" Model S Xformation before there were any!

  3. #123
    S P2420 / X S207
    Join Date
    Jul 2012
    Location
    San Jose, CA
    Posts
    45
    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!

  4. #124
    Banned
    Join Date
    Dec 2012
    Location
    Portland, OR
    Posts
    1,002
    Quote Originally Posted by Petrokalis View Post
    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!
    PenFed has awesome rates right now, not as good as my rate through Volvo but when the time comes they will get my loan!

  5. #125
    Sponsor (& Model S Owner) pete8314's Avatar
    Join Date
    Jun 2012
    Location
    DFW
    Posts
    1,292
    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% ?
    Delivered Feb 8 2013 - VIN 4287 - 85Kwh/Dolphin Grey/Pano/Tech/Sound/Air/shelf/HPWC/Passport 9500ci/19" TSportline wheels
    Accessorize your Model S with Abstract Ocean! | Silicone FobPockets | Leather FobPockets | Neoprene FobPockets | Screen Protectors | Other Cool Stuff |

  6. #126
    Model S: VIN P 3552 gg_got_a_tesla's Avatar
    Join Date
    Jan 2010
    Location
    Redwood Shores, CA
    Posts
    5,013
    Quote Originally Posted by pete8314 View Post
    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% ?
    It'd be $1,211.39. http://www.bankrate.com/calculators/...alculator.aspx

    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
    800-247-5626.
    VIN P 3552 - 60 kWh with Supercharging, Green, Black Roof, Black Leather, Piano Black trim, Tech Package, Active Air Suspension, 19" Wheels, Firmware v5.11, 28,000+ blissful miles since January 2013!

  7. #127
    Rdstr254->725->MS1364 HUN DrTaras's Avatar
    Join Date
    Dec 2007
    Location
    Woodland Hills, CA
    Posts
    1,078
    Quote Originally Posted by DrTaras View Post
    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.
    Denied! My DTI was too high and they would not assess wealth!
    Over 150,000 page views of "The Hun!" Model S Xformation before there were any!

  8. #128
    P#8946 VIN 03225 nrcooled's Avatar
    Join Date
    May 2012
    Location
    NoVA
    Posts
    544
    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.

  9. #129
    Senior Member
    Join Date
    Oct 2012
    Location
    NJ
    Posts
    3,632
    Quote Originally Posted by DrTaras View Post
    Denied! My DTI was too high and they would not assess wealth!
    You don't have to answer this but I'm curious what your DTI was...
    P85. VIN05837. Mileage (05/13/14): 48,000mi, 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

  10. #130
    Junior Member
    Join Date
    Nov 2012
    Location
    Plymouth, MA
    Posts
    85
    Quote Originally Posted by DrTaras View Post
    Denied! My DTI was too high and they would not assess wealth!
    so what are you going to do?

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Are you financing to get the Model S?
    By Bardlebee in forum Model S
    Replies: 104
    Last Post: 2012-11-30, 10:23 PM
  2. Financing a used Roadster
    By dna4life in forum Northwest
    Replies: 3
    Last Post: 2012-10-10, 12:17 AM
  3. Model S - Financing & Fees
    By ggr in forum Model S
    Replies: 19
    Last Post: 2012-06-22, 01:54 PM
  4. On-Bill Financing for Energy Efficiency
    By Robert.Boston in forum Energy, Environment, and Policy
    Replies: 0
    Last Post: 2012-01-12, 07:09 AM
  5. Bank of America financing Roadsters
    By Palpatine in forum News
    Replies: 10
    Last Post: 2009-07-18, 08:31 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •