Questions about payment method

Questions about payment method

I am right now at selecting payment method. I want to compare different banks/CUs for different options(down payment and interests).

I also want to see what options Tesla have. So which payment method I should choose? Loan arranged through Tesla or Finance through my own bank or credit union?

BTW: I know it will do a hard pull which will hurt my credit score. Is there a way to get more options without hurting my credit score?

Thanks guys.

Hashtag | 2018年7月16日

iridescent330 - I just did all kinds of rate shopping today. I went through the forum seeing what everyone had suggest and went to the site saw if I qualified to be a member or not. Finally when as was said and done I went with Everence Federal Credit Union. Their rate was 1.99% a week and a half ago but once they blew up on this forum they increase it to 2.99%. They hadn't planned on the move up until August 1st but with all the business they were getting the increased earlier. Even at 2.99% it's one of the best on the market BECAUSE they also include a .50% discount for EVs which brings the rate down to 2.49%. Obviously that is the lowest rate possible they will give you currently if you have Excellent Credit. But becoming a member took 5 minutes online filling out their membership application and charging $5 on my card to go into my membership account. Then I was able to apply for my loan right then and there online as well. Roughly 1 business day so I should hear back about my approval tomorrow. Hope this helps. Oh to answer your other question I would select Cash... I selected Cash and when my ISA e-mailed me I told her I was putting $17k down and financing the rest and she said great just get me how much you are going to finance, the financial institution name and address. That is all she needed and it caused no delay to my delivery date. FWIW I have seen people go through Tesla and essentially Tesla goes out to BoA, WF, Chase whomever and plays man in the middle and the rates are typically much higher than you would get from a credit union. Hope all that helps.

Hashtag | 2018年7月16日

Also you can price show with different lenders over a 14 day period and Credit Agencies will only consider it as one credit pull because they know you are price shopping for an auto loan, same applies for mortgages.

iridescent330 | 2018年7月17日

@Hashtag Thanks for detailed explanation.

I have a not so good credit(around 640), I want to use this auto loan to improve my credit score hopefully. I know I will get a high interest, so I am plan to put a huge down payment.

My another question is when should I go to different CUs? I know for auto loans, most of them valid for 30 or 60 days, right?

And I want to go there in person so I can express I want to improve my credit score and see what options CUs have.

Thank you so much!

Hashtag | 2018年7月17日

Everence is definitely one of those Credit Unions to assist with building your credit score too I would seriously check them out. You might just be surprised. To answer your question typically 30 days some 60 days.

jordanrichard | 2018年7月17日

Most loan quotes are good for 30 days.

M3forMe | 2018年7月17日

My quote (pre-approval) from Financial Partners CU is good for 60 days.

M3forMe | 2018年7月17日

My quote (pre-approval) from Financial Partners CU is good for 60 days.

jessica.hansonpro | 2019年3月21日

If you are looking for payment gateways option you can choose from here, there are several payment system you can choose according to your need and requirements.

MrSandman | 2020年1月22日

Hey! Right now I'm going to buy a Tesla for my uncle. He lives in Poland. What payment system I need to choose in order to buy his car there?

goodspeeffffd9633 | 2020年1月22日

Man, why don't you just buy a car in the U.S and order shipping? That's an obvious option, I guess. Answering your question directly - you can try to pay for it using Fondy ( I don't know if Tesla works with this payment system, but it is popular in the Eastern Europe. People there don't use PayPal often, as you can know. That's bad for you, because Tesla and PayPal is related companies. My regards for sir Elon Musk, LOL.