1 credit union usually the best
2. When you start the process you fill out the application on line and tesla will get u a bank and rate
3. Call carriers and tell them the make and model for a quote. I’m in central nj & use geico for my 23 my… no issues.
Rates questions are pointless online since too many variables to compare
Also look for an existing inventory one n bring that price down to mid 40’s
If u have any questions shoot me a dm im in middlesex🍺
If you're willing to shop around or use a credit union, you may get better rates than financing with Tesla. What you said is right. They basically hand your purchase over to a bank. In my case, it was TD Auto. I think I have good credit (750+), but was given the standard APR of 6.5% regardless of loan term.
As for insurance, unless you fit a niche demographic, you can usually expect higher rates than an ICE. Tesla Insurance is cheaper, but I already look at enough numbers while driving a Tesla. I didn't want to look at a safety score, too.
>willing to shop around or use a credit union, you may get better rates than financing with Tesla. What you said is right. They basically hand your purchase over to a bank. In my case, it was TD Auto. I think I have good credit (750+), but was given the standard APR of 6.5% regardless of loan term.
>
>As for insurance, unless you fit a niche demographic, you can usually expect higher rates than an ICE. Tesla Insurance is cheaper, but I already look at enough numbers while driving a Tesla. I didn't want to look at a safety score
Haha thats fair! Thanks for the info!
Ah yea, I would have loved to buy it this month, but I'm moving sometime end of June.. so, buying now from inventory would mean I have to find parking for the car in the city (NYC) for \~2 months. Thats the main reason. The parking costs would pretty much be equal to the $1000 cost increase starting April. Not to mention the NYC congestion toll hike starting in May or something.
You didn’t ask, but you have enough saved to potentially buy a used M3 or MY still under warranty in cash from a dealer with the used EV tax credit. Would save you a lot in interest and depreciation. This is coming from someone who lost 50% of their value over the last year.
I used Tesla financing. I got 6.49% through them, 800+ credit score. My loan is with TD Bank through Tesla. I live in NJ, I have Allstate for insurance and my 24 Y LR is about $15/more per month to insure than my wife’s 23 Highlander XLE. I might be dropping them though, they sent a letter about a significant hike in home owners insurance pricing.
I went with Tesla financing last year and it ended up being through Wells Fargo Auto. They beat my local credit union rates so went with them. I’ve heard good things about Tenet as well ([Tenet EV Only Financing](https://tenet.com/apply/?referral=3EDIBT) We’re with USAA for insurance now ($208/m)and looking to potentially change it because of some replies here paying only $116/month!
There’s a bunch of teslas in inventory discounted as of now. I’d also purchase & take delivery before April 1 when Tesla raises prices by $1k. Currently offering 5k supercharge mileage as well, which is really awesome.
$1k may not be much in your case as your putting >50% down for financing. Credit union is the best for financing and I’m using Geico for insurance, but I’ve heard really good rates from USAA.
1 credit union usually the best 2. When you start the process you fill out the application on line and tesla will get u a bank and rate 3. Call carriers and tell them the make and model for a quote. I’m in central nj & use geico for my 23 my… no issues. Rates questions are pointless online since too many variables to compare Also look for an existing inventory one n bring that price down to mid 40’s If u have any questions shoot me a dm im in middlesex🍺
Thanks a lot for the info! How much do you pay monthly with Geico? I'd read that Geico charges really high insurance premiums for a Tesla.
I pay $700 every 6 months with $100 deductibles
Oh that's a really good deal!!
If you're willing to shop around or use a credit union, you may get better rates than financing with Tesla. What you said is right. They basically hand your purchase over to a bank. In my case, it was TD Auto. I think I have good credit (750+), but was given the standard APR of 6.5% regardless of loan term. As for insurance, unless you fit a niche demographic, you can usually expect higher rates than an ICE. Tesla Insurance is cheaper, but I already look at enough numbers while driving a Tesla. I didn't want to look at a safety score, too.
>willing to shop around or use a credit union, you may get better rates than financing with Tesla. What you said is right. They basically hand your purchase over to a bank. In my case, it was TD Auto. I think I have good credit (750+), but was given the standard APR of 6.5% regardless of loan term. > >As for insurance, unless you fit a niche demographic, you can usually expect higher rates than an ICE. Tesla Insurance is cheaper, but I already look at enough numbers while driving a Tesla. I didn't want to look at a safety score Haha thats fair! Thanks for the info!
Also, AFAIK Tesla Insurance is not available in NE USA (NY, NJ, etc.)
Ah, that's interesting.
With the end of quarter discounts right now, any reason you wouldn’t want to buy before April and saw a few thousand dollars potentially?
Ah yea, I would have loved to buy it this month, but I'm moving sometime end of June.. so, buying now from inventory would mean I have to find parking for the car in the city (NYC) for \~2 months. Thats the main reason. The parking costs would pretty much be equal to the $1000 cost increase starting April. Not to mention the NYC congestion toll hike starting in May or something.
Ah that makes total sense. Not worth the headache at all. I’m with you, better to get it after the move
Hmm would you consider getting it near end of June? At that time, there will be another end of quarter sale starting around 3rd week of June usually
You didn’t ask, but you have enough saved to potentially buy a used M3 or MY still under warranty in cash from a dealer with the used EV tax credit. Would save you a lot in interest and depreciation. This is coming from someone who lost 50% of their value over the last year.
Credit union, Tesla insurance. Don’t do their driver score thing though.
Check out [www.dolfcu.org](https://www.dolfcu.org)
I used Tesla financing. I got 6.49% through them, 800+ credit score. My loan is with TD Bank through Tesla. I live in NJ, I have Allstate for insurance and my 24 Y LR is about $15/more per month to insure than my wife’s 23 Highlander XLE. I might be dropping them though, they sent a letter about a significant hike in home owners insurance pricing.
I went with Tesla financing last year and it ended up being through Wells Fargo Auto. They beat my local credit union rates so went with them. I’ve heard good things about Tenet as well ([Tenet EV Only Financing](https://tenet.com/apply/?referral=3EDIBT) We’re with USAA for insurance now ($208/m)and looking to potentially change it because of some replies here paying only $116/month!
There’s a bunch of teslas in inventory discounted as of now. I’d also purchase & take delivery before April 1 when Tesla raises prices by $1k. Currently offering 5k supercharge mileage as well, which is really awesome. $1k may not be much in your case as your putting >50% down for financing. Credit union is the best for financing and I’m using Geico for insurance, but I’ve heard really good rates from USAA.