Finance loan maximum?

Finance loan maximum?

I know a lot of people are financing through Alliant or Penfed. I live in MD, so I am apparently ineligible for the Tesla guarantee. I haven't called any lenders yet, but almost everyone's online tools break when I try to put in my vehicle purchase price of $92770 (plus tax). PenFed's online calculator only allows you to apply for loans of $70k, and my regular bank has limits of $40k. Has anyone run into this problem, or when you apply and talk to a lender is it not a problem? I have excellent credit.

Tosca | June 20, 2013

We used USAA and got 100% financing.

AmpedRealtor | June 20, 2013

Alliant gave me a maximum loan amount of $80,000. The reason it wasn't 100%, they said, is because I don't have any credit history with a "high value" automobile in that price range. I guess my $54,000 Toyota Highlander doesn't cut it.

AmpedRealtor | June 20, 2013

Also, Alliant has a limited time promotion. If you apply for an auto loan, they will give you $100 when you open a new account.

mortgagebruce | June 20, 2013

Alliant asked for 10% down and told me they're requiring that now from 100% before. I've got perfect credit and great debt ratio.

ORWA | June 20, 2013

USAA will do 100% if you want...depending on credit.

AmpedRealtor | June 20, 2013

I also have to put down at least 10% with Alliant. I was planning on putting down 20%-25% anyway.

cybrown | June 21, 2013

Alliant just called me back and said that the maximum loan amount is $70k because I don't have any other "high value auto loans". I guess perfect credit and a $500k mortgage count for nothing? This could be very problematic for my pending Model S reservation. Suggestions?

ronovan_mcnabb | June 21, 2013

Even though I live in the SF bay area because my company has a remote office in Austin, TX I was able to get my financing through Amplify FCU. They allowed me to finance 100% of my 85 non-perf fully loaded. I would recommend that you keep researching to see which FCU's you are eligible to join to find one that will allow you to finance 100% with a decent rate.

fuellss | June 21, 2013

Alliant Credit Union at 1.49% 72 months 87500.00 loan amount with 10 % down. The best I could do with USAA was 2.25%. US Bank was 2.8%

NomoDinos | June 21, 2013

1.49%?? That's amazing. Simplicity was the next best I could find at 1.99%. Do they require automatic deductions or other special stipulations?

Bighorn | June 22, 2013

Alliant requires automatic withdrawal for their best rate, 1.49%