$59k Base Dual-Motor AWD Cybertruck Begin Delivery!

[59K]

BTW, the tesla wesite quotes 5.69% for all CT trims. I just checked. Perhaps your credit is not excellent?

I was just checking out the rates available and 6.53% was the lowest on the app.
Define “credit”?

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[mrcyber]

I ordered Feb 21 at 12:40am my email from Tesla shows Feb 20 due to the time difference. I am in GA I should not be far off.

This is where they will get people on the cheaper cyber truck $59k offer- they will jack up the finance rate to make up for cheaper msrp.

Yet they will give 0% on model y's. It's quite the mouse trap they've managed to build.

Yep: “Interest Rate Markup (Dealer Reserve): Dealers often mark up the interest rate provided by the bank. For example, if a bank approves you for a 6% interest rate (the "buy rate"), the dealer might offer you 7.5% (the "sell rate") and pocket the difference. This usually results in a profit of 1% to 2% of the total loan amount. “
Solution, pay cash, use home equity or finance directly through bank.

 

[59K]

I don't know sh!t about financing but the high rate could be due to only financing 10k? Like they are saying its not worth their time so charging a high rate? Putting down 55k should have been mentioned

I tried playing with the numbers but the lowest offered rate is 6.53%. As someone previously said, Tesla probably figured the peasant CT buyers will likely need to finance their purchase, and it’s an easy way to squeeze out every penny from the buyers.

 

[cyberpunk27]

I wish there was a way to look at the pawd numbers to see what they are doing there. Still confused how tesla doesn't have to honor their advertised rate of 5.69%

I received 5.69

 

[AWDMK4]

VIN assigned and vehicle is in transit as of today.
Lowest Tesla finance rate is 6.53%?!

If you belong to a credit union you may want to check there. They usualy have lower "standard" rates. Currently both of my credit unions are at 4.24%, up to 48 months, though there may be a min finance amount to get that.

 

[AWDMK4]

I have a VIN assigned. I was one of the early people that ordered on the 19th within about two hours of the news breaking on Twitter. The AI Chatbot says I am going to get delivery between the fifth and the 10th of this month. I'm in SoCal area.

Any idea if we can add official Tesla L-Tracks to our bed?

@jamesj562 - you still scheduled to pick up yours this week?

As for the L-Tracks, yep, $250 from the Tesla store. Mine showed up today, just need a truck to put them on.

 

[Cayden Thompson]

Yep: “Interest Rate Markup (Dealer Reserve): Dealers often mark up the interest rate provided by the bank. For example, if a bank approves you for a 6% interest rate (the "buy rate"), the dealer might offer you 7.5% (the "sell rate") and pocket the difference. This usually results in a profit of 1% to 2% of the total loan amount. “
Solution, pay cash, use home equity or finance directly through bank.

How do you use home equity here?

 

[PungoteagueDave]

All this financing cost is talk is just nuts. Anyone financing a luxury vehicle fails Finance 101. If a buyer can’t pay cash, they can’t afford the vehicle. Being able to make a monthly payment is not affording it. Borrowing money for boats, cars, motorcycles, anything except a home mortgage is paying the man. Our finance and auto sales systems are set up to entrap and make lifetime serfs of unsuspecting and naive consumers. People who finance “wants” WILL end up with less wealth. But what you can afford to pay cash for until having the excess funds to splurge on on things no one needs. That’s ANY new car. No one needs one. Decent, safe and reliable transportation can easily be had for under $10k. I completely understand the psychology and siren call for the latest thing, and the entitlement that comes with the desire to have it (why not me?), and have been there myself earlier in life. Just say no to auto financing of any kind, and for God’s sake, never carry any revolving or merit card balances. Ever. Zero exceptions short of paying for a loved one’s ransom. That’s literally the only reason I even keep a personal credit line without a draw - in case of dire emergency.

 

[pookguy88]

All this financing cost is talk is just nuts. Anyone financing a luxury vehicle fails Finance 101. If a buyer can’t pay cash, they can’t afford the vehicle. Being able to make a monthly payment is not affording it. Borrowing money for boats, cars, motorcycles, anything except a home mortgage is paying the man. Our finance and auto sales systems are set up to entrap and make lifetime serfs of unsuspecting and naive consumers. People who finance “wants” WILL end up with less wealth. But what you can afford to pay cash for until having the excess funds to splurge on on things no one needs. That’s ANY new car. No one needs one. Decent, safe and reliable transportation can easily be had for under $10k. I completely understand the psychology and siren call for the latest thing, and the entitlement that comes with the desire to have it (why not me?), and have been there myself earlier in life. Just say no to auto financing of any kind, and for God’s sake, never carry any revolving or merit card balances. Ever. Zero exceptions short of paying for a loved one’s ransom. That’s literally the only reason I even keep a personal credit line without a draw - in case of dire emergency.

what if the financing is 0%?

 

[billyburger]

Hi, thought I'd introduce myself on here too!

Order date: 2/28
RN127224XXX
Located in Southern California.
AI bot estimate delivery date: 2027

 

[funnbobby]

Well, obviously, then it would be worth it because then the man is paying you to buy their product.

assuming all your other families needs and your personal financial needs are taken care of of course meaning that you’re prioritizing savings for the future.

 

[Trbizwiz]

VIN assigned and vehicle is in transit as of today.

Lowest Tesla finance rate is 6.53%?!

Navy Fed is 3.89%. If you have a family member that served, call in and ask to become a member. They will ask for your relatives name, and relation. I don't know the exact qualifications, but if the relative truly served, and you were related enough to actually know them, you probably qualify. Its worth the call. Once you're a member, your children qualify to become members, as long as you're still an active member.

 

[mrcyber]

I don't know sh!t about financing but the high rate could be due to only financing 10k? Like they are saying its not worth their time so charging a high rate? Putting down 55k should have been mentioned

This

All this financing cost is talk is just nuts. Anyone financing a luxury vehicle fails Finance 101. If a buyer can’t pay cash, they can’t afford the vehicle. Being able to make a monthly payment is not affording it. Borrowing money for boats, cars, motorcycles, anything except a home mortgage is paying the man. Our finance and auto sales systems are set up to entrap and make lifetime serfs of unsuspecting and naive consumers. People who finance “wants” WILL end up with less wealth. But what you can afford to pay cash for until having the excess funds to splurge on on things no one needs. That’s ANY new car. No one needs one. Decent, safe and reliable transportation can easily be had for under $10k. I completely understand the psychology and siren call for the latest thing, and the entitlement that comes with the desire to have it (why not me?), and have been there myself earlier in life. Just say no to auto financing of any kind, and for God’s sake, never carry any revolving or merit card balances. Ever. Zero exceptions short of paying for a loved one’s ransom. That’s literally the only reason I even keep a personal credit line without a draw - in case of dire emergency.

The wealthy do not use cash to buy assets (cars) especially those that quickly depreciate. They are smart enough to leverage their equity and invest wisely. They will also lease rather than buy especially if they can write of the expense if they own a business.

 

[comet2]

All this financing cost is talk is just nuts. Anyone financing a luxury vehicle fails Finance 101. If a buyer can’t pay cash, they can’t afford the vehicle. Being able to make a monthly payment is not affording it. Borrowing money for boats, cars, motorcycles, anything except a home mortgage is paying the man. Our finance and auto sales systems are set up to entrap and make lifetime serfs of unsuspecting and naive consumers. People who finance “wants” WILL end up with less wealth. But what you can afford to pay cash for until having the excess funds to splurge on on things no one needs. That’s ANY new car. No one needs one. Decent, safe and reliable transportation can easily be had for under $10k. I completely understand the psychology and siren call for the latest thing, and the entitlement that comes with the desire to have it (why not me?), and have been there myself earlier in life. Just say no to auto financing of any kind, and for God’s sake, never carry any revolving or merit card balances. Ever. Zero exceptions short of paying for a loved one’s ransom. That’s literally the only reason I even keep a personal credit line without a draw - in case of dire emergency.

I agree that too many people use financing as a way to buy more vehicle than they should. That said, for some buyers financing is simply a cash-management decision rather than an affordability issue.

A disciplined buyer can use financing as a tool; an undisciplined buyer uses financing as permission to overspend.

 

[59K]

Yikes, I didn’t mean to derail this thread into Finance 101. Only wanted to inform people on the current rates offered for people who planned to finance their Cybertruck purchase. Perhaps I should have just started a different thread.

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