Financing

[Jason_T]

I just went through all my rate shopping. DCU turned out to be the cheapest @ 1.49%. The Model S does qualify for the .25% Efficient vehicle program.
I took at 65 month at 1.25%, added .5% (because I was not goin to direct deposit income there), the subtracted the .25% to == 1.49%.

I was approved with Alliant 72 Months @ 1.74% as well.

these rates are really attractive. but if you go with these, are you foregoing the guaranteed resale value?

 

[bryenz]

Yes, you are...but there are so many caveats on that, it wasn't really a consideration for me. Plus I'm a high mileage driver (18k/year+) so the overage on that really kills its utility.

 

[tiblot]

these rates are really attractive. but if you go with these, are you foregoing the guaranteed resale value?

Yes, I really don't care about that resale deal though.

 

[maxwells]

Another data point for DCU: loan approved for 90% of MSRP at 0.99% for 65 months.

 

[bryenz]

They seem to like the 90% LTV for Teslas. That the same deal I got. Tesla got their check for mine on Tuesday.

 

[maxwells]

For me they computed 90% on the base P85 price (without options). Not complaining though.

 

[m2s2]

My Tesla is set to arrive June 28.
Originally it was going to pay whole thing off. Then I thought about using Tesla financing for about 60% of the value in order to lock in the resale guarantee. At about 2.5-3% I figured it would cost me about $6000 to get the guarantee, but I probably will put on too many miles, as I drive about 80 miles a day for work.
So I will probably pay cash for the entire car, reading through these forums, the idea of a low percentage low seems interesting. I guess I will try and check out DCU, any other ideas? Or any easy way to contact DCU
thanks

 

[tiblot]

My Tesla is set to arrive June 28.
Originally it was going to pay whole thing off. Then I thought about using Tesla financing for about 60% of the value in order to lock in the resale guarantee. At about 2.5-3% I figured it would cost me about $6000 to get the guarantee, but I probably will put on too many miles, as I drive about 80 miles a day for work.
So I will probably pay cash for the entire car, reading through these forums, the idea of a low percentage low seems interesting. I guess I will try and check out DCU, any other ideas? Or any easy way to contact DCU
thanks

At .99%, I can't see any scenario where you'd want to pay 100% cash. I mean, can you explain why you prefer to pay 75-100k down, instead of say a 50% loan (or any comfortable %)?

 

[m2s2]

I agree if I can find 0.99% financing, any idea where to get info?
thanks

 

[maxwells]

I agree if I can find 0.99% financing, any idea where to get info?
thanks

Try DCU. I got 0.99% from them recently.

 

[salamagd]

Try DCU. I got 0.99% from them recently.

Wow, the finance deals you guys have over there are amazing. The cheapest secured car loans here in Australia are around the 8-10% mark.

 

[USCjon]

I just applied to DCU and Alliant online. Let's see how fast they reach out to me.

 

[bryenz]

Alliant had the approval in minutes for me. DCU had to go to senior management due to size, so two days. I was willing to wait because the DCU rate was a ton lower.

 

[wamochi]

financing about 1/2 the cost with local credit union. 1.49% for 72 mo. 90 day payment deferral. we already have our home loan and banking relationship with them so it was easy peasy. DCU was tempting @ 0.99 though. in the end we didn't want to set up the direct deposit and relationship so our credit union matched the 1.49 that DCU would have charged but kept the longer 72 months which was nice of them.

Wow, the finance deals you guys have over there are amazing. The cheapest secured car loans here in Australia are around the 8-10% mark.

yowzers!

 

[Merrill]

Has anyone leased a Tesla, wondering what the monthly payments would be. Thinking about leasing a Model X. Any info out there would be appreciated. I have never leased a car so do not know much about them.

 

[maxwells]

Tesla does not have a leasing program other than the business lease mentioned on the site. Their buy back guarantee is as close as you'll get to a personal lease.

 

[m2s2]

I guess i will apply to DCU, they are based out of mass?
they ask for the nearest branch, being in florida it is a bit of a trek. I assume one can use them out of state?

 

[maxwells]

I guess i will apply to DCU, they are based out of mass?
they ask for the nearest branch, being in florida it is a bit of a trek. I assume one can use them out of state?

Yes, everything happens online and over the phone.

 

[purplewalt]

Has anyone leased a Tesla, wondering what the monthly payments would be. Thinking about leasing a Model X. Any info out there would be appreciated. I have never leased a car so do not know much about them.

Should you decide to go the lease route, the Lender gets the $7,500 Federal Income tax rebate, not the leasee.
Same for any state tax rebates: you don't get them.

Some local Leasing companies have been purchasing Teslas in Dallas area, and people are leasing them.

 

[biffandsully]

I just finalized a DCU loan today, 0.99% x 48 mos, financed about 30% of car, no prepayment penalty.