morphtk
Member
I am close to my delivery date for my MYLR Feb 22.
I originally have Tesla financing (Wells Fargo) with 5.34%.
I have applied for Tower FCU 2/8 (donation/loan app/membership app) with 2.990%.
Currently, loan app says pre-approved and needs 2 documents (MVPA, POA)
membership app says `referred`.
Few questions concerning loan switching:
1. I am not sure what `referred` means for my membership app?
2. Should I go ahead and tell tesla SA to switch my lender from Tesla financing to TowerFCU today? so that I can ask SA tomorrow to generate the MVPA for TowerFCU
3. If I submit POA and MVPA to TowerFCU would they be able to send Tesla (or myself) the check for the loan amount or would they still wait until membership app completes? (not sure what docs they would ask there)
4. If I switch to TowerFCU today and lets say they don't finish the stuff in time; until what time I can switch back (or re-apply for Tesla financing)?
5. should I wait until membership app clears from TowerFCU (and whatever docs they'd need there) to then notify Tesla about switching lender?
6. I don't want to be in the flux where the delivery is screwed because TowerFCU couldn't send check in time... I do want to consider them for refinance (with the rate available to me) if there are financing delays.
7. If I happen to reject the car for un-acceptable conditions; what happens to the check given by TowerFCU (to either Tesla or myself)? Does it get applied towards your account credit so that when a different VIN is assigned it automatically uses there.
I originally have Tesla financing (Wells Fargo) with 5.34%.
I have applied for Tower FCU 2/8 (donation/loan app/membership app) with 2.990%.
Currently, loan app says pre-approved and needs 2 documents (MVPA, POA)
membership app says `referred`.
Few questions concerning loan switching:
1. I am not sure what `referred` means for my membership app?
2. Should I go ahead and tell tesla SA to switch my lender from Tesla financing to TowerFCU today? so that I can ask SA tomorrow to generate the MVPA for TowerFCU
3. If I submit POA and MVPA to TowerFCU would they be able to send Tesla (or myself) the check for the loan amount or would they still wait until membership app completes? (not sure what docs they would ask there)
4. If I switch to TowerFCU today and lets say they don't finish the stuff in time; until what time I can switch back (or re-apply for Tesla financing)?
5. should I wait until membership app clears from TowerFCU (and whatever docs they'd need there) to then notify Tesla about switching lender?
6. I don't want to be in the flux where the delivery is screwed because TowerFCU couldn't send check in time... I do want to consider them for refinance (with the rate available to me) if there are financing delays.
7. If I happen to reject the car for un-acceptable conditions; what happens to the check given by TowerFCU (to either Tesla or myself)? Does it get applied towards your account credit so that when a different VIN is assigned it automatically uses there.