Hi,
we took delivery of our Model 3 (MR, 18", white int) on December 22nd. Car is great - so far, so good.
We were approved through Tesla with TD Auto Finance for 4,64% @ 72 months with 40K financed. Not a spectacular rate, but to put this into perspective, we (me + wife) only moved to the US 3 years ago (from Europe) and only opened credit cards when we moved here. No CC debt, no other loans, no debt - period - and especially no car loan history. Credit scores are not outlandish, but solid at 760/775ish. We were denied by multiple banks and CU due to lack of loan history. We expected that so no biggie and we were prepared to make a bigger downpayment, which is why we went through Tesla.
Here's the catch: Before we took delivery, we were also approved by a CU with 3,74% @ 72 months with 50K financed. Our plan was to use the rate match offer by Tesla as discussed with our OA. Now the CU is not willing to provide the APR in written form (although previously they said several times they would!) and therefore Tesla won't rate match. The offer from the CU is valid until Jan 18th.
Since the CU also offers 100%+ financing besides the obivously better APR, we were thinking about re-financing and getting some of our downpayment back. Does anybody else have experience with this or was stuck in a similar situation? Any advice?
Appreciate all the help!
Cheers,
Kai
we took delivery of our Model 3 (MR, 18", white int) on December 22nd. Car is great - so far, so good.
We were approved through Tesla with TD Auto Finance for 4,64% @ 72 months with 40K financed. Not a spectacular rate, but to put this into perspective, we (me + wife) only moved to the US 3 years ago (from Europe) and only opened credit cards when we moved here. No CC debt, no other loans, no debt - period - and especially no car loan history. Credit scores are not outlandish, but solid at 760/775ish. We were denied by multiple banks and CU due to lack of loan history. We expected that so no biggie and we were prepared to make a bigger downpayment, which is why we went through Tesla.
Here's the catch: Before we took delivery, we were also approved by a CU with 3,74% @ 72 months with 50K financed. Our plan was to use the rate match offer by Tesla as discussed with our OA. Now the CU is not willing to provide the APR in written form (although previously they said several times they would!) and therefore Tesla won't rate match. The offer from the CU is valid until Jan 18th.
Since the CU also offers 100%+ financing besides the obivously better APR, we were thinking about re-financing and getting some of our downpayment back. Does anybody else have experience with this or was stuck in a similar situation? Any advice?
Appreciate all the help!
Cheers,
Kai