I looked up DCU today and the advertised rate was 1.24 %. How were you able to get the 0.99%??? Thanks.
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- Thread starter Rawad H.
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I looked up DCU today and the advertised rate was 1.24 %. How were you able to get the 0.99%??? Thanks.
seattlerock
Member
LoL Rick
Like Buttah
I just talked to someone at DCU about this today and did qualify for 0.99. Their rule is that the car has to get 35+ mpg as listed on an official source such as fueleconomy.gov. He looked it up but it took a bit of coaxing and guidance to get him there because the EVs are listed separately. Here is the direct link to the Model S listing in case you want to email it to your loan advisor.
Compare Side-by-Side
Compare Side-by-Side
I "chatted" with a rep at DCU. You apply online, then they make the change to 0.99% manually after having reviewed the application and confirmed that it is for an EV.
@LoL Rick
thanks for the link. I am going to show my wife how much money we will actually be "saving" over the MB and even the Honda Odyssey in gas
@LoL Rick
thanks for the link. I am going to show my wife how much money we will actually be "saving" over the MB and even the Honda Odyssey in gas
docrice
Member
I just finalized a P85 loan... Financed $92,000 at 1.49% through DCU.org for 65 mos. No prepayment penalty. Whole process was very fast and efficient. I highly recommend. Could've gotten 0.99% if I directly deposited my entire paycheck with them but I'm using other banks for that so I coughed up the other 0.5%. It was worth it for me not to do the hassle of changing all of my other accounts.
I finalized with DCU @ 0.99%. They did not question the Tesla as qualifying for the reduced rate. You have 90 days to set up a checking acct with direct deposit. Other threads have discussed that while they tell you that you must direct deposit your entire net paycheck, in fact the minimum is $500 and they really have no way of knowing or enforcing that. I plan to split my direct deposit between my current bank and DCU, enough to cover my payment plus X more to payoff the loan in about 18 mos rather than the 48 I took the loan for. Although, at 0.99% I'm not sure it's such a big deal to pay off the loan faster, I should invest my money elsewhere. I just like being debt-free.
Yup! same, 0.99% @ 65 months.
I put in $500 and I'll just pay my loan from there directly!
Don't bother paying it off early. Just drag it out the entire length...
Did they require you to have your work checks direct deposit to obtain .99? Or just $500 to open an account.
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