Military Cybertruck Loan Interest

[rizvend]

Current and former military members and dependents can get competitive interest rates like from USAA and Navy Federal. I got mine as below depending on credit scores or other factors.

Other intitutions may offer lower rates but not cover entire amount. Believe me. I tried.

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[Gigahorse]

Yea the current rates are pretty rough for auto loans.
Sure would like one of those 0% interest for three year loans they used to have from some auto companies.

 

[Outdoors]

Others do. I was adamant that I wanted that, and didn't leave it up to loan approver to go through normal box checking. Usually a down payment will make it easier on the loan to approve.

Stellar credit and verifiable income will get you the full amount. 5.20% at 60 months 100% finance.

Many people underestimate currently the income needed to buy a car for 100k and do 100% financing. Here is a great calculator.

https://www.autotrader.com/car-affo...e, you need,a year conservatively after taxes.

All I did was image in my year end pay stub, and they were good. 830 credit as well, and no other debit. I just like to finance my cars every 7 years or so.

USSFCU is also very familiar with Tesla, and makes it a smooth process.

Either way Credit Unions are great. If you have great credit. Otherwise the bank route via Tesla.

 

[rizvend]

Indeed Tesla 8.64% compared to 6.04% is a big difference. Also depends on where you live. Indeed, with a higher downpayment comes a lower monthly payment. However the DP is paid directly to Tesla and they finance the rest is how it works with USAA even if you try to figure that in with the checkbox calculations. On second thought, I could have gone with the Beast!

 

[Woodrick]

And just a little FYI. When it comes down to actually paying for the truck, just ask USAA. It's not like buying at a traditional dealer.

 

[Gurule92]

Current and former military members and dependents can get competitive interest rates like from USAA and Navy Federal. I got mine as below depending on credit scores or other factors.

Other intitutions may offer lower rates but not cover entire amount. Believe me. I tried.

You went with USAA then? Navy fed shows 5.99 at 60. Not a huge difference but I saw that USAA 6.04 on the site

 

[rizvend]

You went with USAA then? Navy fed shows 5.99 at 60. Not a huge difference but I saw that USAA 6.04 on the site

I may still try others later once I hear further progress from Tesla since these offers expire in March. Too many inquiries ding your score.

 

[Gurule92]

I may still try others later once I hear further progress from Tesla since these offers expire in March. Too many inquiries ding your score.

That's true. But it is better to get a bunch at once instead of split up over time. (Typically)

 

[rizvend]

That's true. But it is better to get a bunch at once instead of split up over time. (Typically)

Each quote is only good for 30 to 45 days so if there is a delay in delivery, you are required to resubmit/re-qualify...more repeated inquiries which lowers your score by 3 to 4 points per inquiry.

 

[Travis64]

Current and former military members and dependents can get competitive interest rates like from USAA and Navy Federal. I got mine as below depending on credit scores or other factors.

Other intitutions may offer lower rates but not cover entire amount. Believe me. I tried.

This was from usaa with 0 down?

 

[cgladue]

if i had to pay this high of interest rates i would never buy my truck

 

[rizvend]

This was from usaa with 0 down?

Yup.

 

[rizvend]

if i had to pay this high of interest rates i would never buy my truck

Post here if you have a better rate. That's how you help.

 

[cgladue]

Post here if you have a better rate. That's how you help.

oh, ok my bad, i am getting 0%

 

[Gigahorse]

oh, ok my bad, i am getting 0%

How are you getting 0%? Usually 0% loans come only from car mfgs who offer 0% for the first year or two, but Tesla is not offering that.

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