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Thread: Financing options

  1. #401
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    Quote Originally Posted by metafor View Post
    I got approved by BofA for 60 mo at 2.49% for 90% of the value. I've read a lot both here and in other places about people having trouble with Bank of America but I gotta say, they were by far the easiest and most flexible loan agency I delt with. I tried Alliant, PenFed, USAA, not only would they not approve a 70% loan (which is what I asked for), the application process wasn't nearly as flexible.

    The BofA agent I talked to was just as excited as I was that I was getting the car. He knew the entire process specific to Tesla and was willing to extend the approval offer for as long as it takes for Tesla to make and deliver the vehicle. He even offered 90% financing instead of the 70% I was asking for. I think I'll still take the 70% loan though as it looks like the stock market's going to flail soon and 2.49% isn't stupidly low.

    That being said, perhaps the reason I got so far with BofA may be because they're my primary checking account as well as credit card.
    Do you have a contact over at Bank of America or did you just call their loan number on the website?

    Thanks in advance!

  2. #402
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    Quote Originally Posted by marveldave View Post
    What is the term? 60 month?
    Yes, 60 months.
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  3. #403
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    Quote Originally Posted by Clint Eastwood View Post
    Alliant in ten minutes approved me for up to 100% of car cost for 72 months at 1.49%. Couldnt be much easier. All they need are my last 2 pay stubs and the purchase agreement. Unfortunately no one can tell me how to get my purchase agreement and the delivery specialist isn't returning my calls or emails. I have my vin and production week.
    Check the email Tesla sent you with a title of "Ready to build your Model S". The purchase agreement (pdf format) should be attached to that email. At least in my case it was.

  4. #404
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    Quote Originally Posted by marveldave View Post
    Check the email Tesla sent you with a title of "Ready to build your Model S". The purchase agreement (pdf format) should be attached to that email. At least in my case it was.
    Never got an email with that title. My most recent email title was "your model s is headed to production". Prior to that I got "your model s is almost here". That one I apparently received in error.

  5. #405
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    FYI, PenFed is offering 1.29% for 100% financing for up to 48 months. After 48 rate jumps to 1.79%.

    PenFed - Auto Loans Overview
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  6. #406
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    Hi everybody, I've decided to get the model s (blue 85 tech, sound) and was wondering if I financed through alliant or another credit union would i be financing the amount before the 7500 tax rebate? I need to figure this out before I proceed. Thanks.

  7. #407
    2014 P85D, X seq 2,318 andrewket's Avatar
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    Quote Originally Posted by VRK View Post
    Hi everybody, I've decided to get the model s (blue 85 tech, sound) and was wondering if I financed through alliant or another credit union would i be financing the amount before the 7500 tax rebate? I need to figure this out before I proceed. Thanks.
    You have to pay Tesla for the full price of the car. How much of that you finance or pay out of pocket is up to you. You won't receive the 7500 tax credit until you file your 2013 taxes in 2014.
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  8. #408
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    Quote Originally Posted by andrewket View Post
    You have to pay Tesla for the full price of the car. How much of that you finance or pay out of pocket is up to you. You won't receive the 7500 tax credit until you file your 2013 taxes in 2014.
    So, I will still receive the tax deductions just in 2014?

  9. #409
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    Any lenders offer loans to self employed who can't provide 2 months of pay stubs, what docs are they asking for?
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  10. #410
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    Quote Originally Posted by onesixeight View Post
    Do you have a contact over at Bank of America or did you just call their loan number on the website?

    Thanks in advance!
    I just applied online and was instantly approved. I called the loan help number just to see if I could get the approval extended and I got a very helpful person. Perhaps I just got lucky.

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