Let’s Talk Finance

[CyberNickOH]

Value of the car doesn’t matter much on a refinance. It was a $170 fee but 2+% less than ford gave me. I pay mine off quickly too, I finance for simplicity. Plus I have my S to sell in the next few weeks, so that cash goes towards this.

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[DumpsterFire]

The best Rates will be in the mid 5s in a few months. If thats really a pain point for you the best strategy is to wait

Or refi!

 

[Ward L]

I applied for a Tesla loan and Chase Bank called to get details some time ago. I was approved the next day on the Tesla app, but had to put down more money. I bank at Chase. When I look at my Chase account, there is no mention of my car loan offer. Today, I received two strange letters from Chase that were nearly duplicates. They both start off saying "we're unable to approve an account for you at this time". It goes on to say "our decision was based on the following reasons: insufficient down payment or negative equity". The next paragraph says "We can offer you credit on the following terms: $92k and 72 months." The approved loan matches the offer I was given on my phone. They wanted more down payment. Declined loan had a $8k down, the second, approved loan has a $18k down payment. THEN, the letters say this offer expires 10 days after the date of this letter, January 22. The loan offer expires February 1. Hey Elon, please deliver my truck in 4 days!

Another funny thing about the two letters, one letter said my credit rating was 853 and the other letter says 854. When I go on my Chase app, it says my credit rating is only 829. No matter, I found a credit union that offers better interest rates anyway.

It is kinda funny, with all the tech of spying and cybersecurity, but my Chase Bank app/website doesn't know I applied for a $100k loan and doesn't have the same credit score. Maybe I should move my account to my credit union.

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