PSA: You can get a better interest rate just by asking.

Just ask for a better interest rate! They’ll often say yes. The initial rate you’re offered is most likely whichever bank will give Tesla the biggest kickback.

I’m eagerly awaiting a Model Y right now and while the interest rate Tesla offered me was good (2.49% from Wells Fargo), I wanted to see if they could do better. I emailed with my reservation number asking if they’d shop my loan and within an hour they’d gotten me a better rate (1.84% from Chase) that will save me more than $2000 over the life of the loan!

(Alternatively, don’t forget to consider your local credit unions. They’ve often got great products and very personalized service!)

submitted by /u/DrVoltasElectricFish
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