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Interest rates offered by Tesla

Interest rates offered by Tesla

Talking to Tesla about an upgrade and they quote an interest rate of 4.25 percent. Seems a bit high given the current situation in the bond markets and at the Fed. I talked to local banks and they don't even seem to be ingested in making car loans. Plus rates are even higher. Anyone have any suggestions where one might get a lower rate in line with current market condition.

bill | 19 août 2019

Try Alliant

jamesoshe | 19 août 2019

Thanks, bill. Will do. Is Alliant a credit union?

bill | 19 août 2019

yes

jamesoshe | 19 août 2019

Thanks again.

reed_lewis | 19 août 2019

Through Tesla I qualified for 3.99 because of excellent credit.

mizunosan | 19 août 2019

I guess they aren't doing the 1.4% rate that I got in September last year anymore? It was through US Bank.
Perhaps that was a special deal back then... doesn't hurt to ask?

TranzNDance | 19 août 2019

I got .99 in September 2017. Maybe waiting for end of quarter could help?

2015P90DI | 19 août 2019

Interest rates had gone up. The 10 year generally does directly affect car loans, but they're all tied to together as the market seems to consistently respond to one or the other. The fed rate drop, my guess is that credit card rates will come down and sooner or later, some auto loan offers will come down as well. Just not an instant reaction. When rates went up, Tesla still offered 1.9% financing for a while. So there's a delayed reaction. Probably will see some type of drop in the next few months. Or, since Tesla seems to be financing more of their own stuff lately, maybe they won't since that's additional revenue for them. Guess it depends on if US Bank, their primary second choice to send loans to, decides to offer better rates.

magesh.tektal | 19 août 2019

We got our car financed thru' Kinecta CU a couple of weeks back. 2.89%. We put 20% down & enrolled in auto pay. Very easy to work with & quick to respond. I rate them highly.

BankAm was second at 3.19% I believe, no down payment.

thranx | 20 août 2019

Financed two model S via Alliant. Easiest dealings I've ever had with a financial institution.

Anthony J. Parisio | 21 août 2019

thranx,
What now is the interest rate?

rxlawdude | 21 août 2019

Ok, @Tkim this is the THIRD THREAD you've posted the identical message. I can only conclude you are too dense to understand basic contract law, and that you failed to recognize you live in a literally Tesla-hostile state.
SMH. And flagged.

2015P90DI | 22 août 2019

and there it is again. One of the regulars forum residents bashing an owner who's clearly unhappy rather than offering a possible solution. Being unhappy about something that happens generally isn't a choice. If an owner is unhappy, then he/she simply is. Would be so nice to see these forum offer some class and support to encourage these owners rather than just rag on them which accomplishes nothing!

@Tkim - Unfortunately, Michigan is ICE car heaven, so Tesla's are not wanted there. The big US manufacturers have been fighting Tesla tooth an nail. I don't know the exact details of what you were offered, but a lot it may not actually be Tesla changing what they're capable of doing by choice. Lawmakers are on the ICE automakers side and new regulations keep getting put in place to protect their business. Tesla upsets the "dealer" model and they simply don't like it. Texas I believe is another one that won't allow Tesla sales. Not sure about Service Centers.

Unfortunately, owning a Tesla in Michigan is one of the worst places to do so. Obviously a great car, but Tesla's hands are tied. Not sure what your issue is for needing service. If you haven't already, try a reboot. If that doesn't work, can always try a factory reset as that often cures a lot of problems. If your problem is electronics related with an error message. If it's something more significant and mechanical, unfortunately, you're stuck and will just have to find a service center. Maybe choose one where you can make a road trip out of it. Plan ahead with Tesla and see if they can get you in and out in a day so you don't have to drive back and forth? Again, depending on what the problem is. Otherwise, ask for a loaner car or Rental Car if the car has to be in the shop for any extended period of time. Any specific questions, feel free to ask and I'll do my best to answer them. You may get some idiotic response in between, but just ignore them. Some people live on this forum and have nothing better to do. I'll try to check back as quick as I can to see if you responded. Best of luck to you.

NKYTA | 22 août 2019

Tkim posted the same chunk of text on well over 10 different threads, most completely non-related.

It is a bot, or a really odd individual that doesn't understand the "internet" at all.

2015P90DI | 22 août 2019

Strange, somehow the post I was replying to disappeared??? I would delete my post since it no longer appears to be relevant, but we don't have that ability. Still had it up on another page, so copying the post here so I don't look like a complete idiot!! LOL

Prior post that once existed just after Anthony's post.......
Tkim | August 21, 2019
Well, I do own a 2018 Tesla S. When I acquired the car from Tesla, I was assured valet services would be provided for maintenance. I found today, Tesla has done away with that program. Tesla does not have a service center in the state of Michigan. They cannot seem to keep their word. This is not hating on Tesla. I do like car. I like their electric concept. If I had known I would have to drive out of state for car service, I would not have acquired a Tesla. I am yet to understand how a company can just switch on their word and promise. I guess, I may just have to stay with Porsche going forward.