Decent car loan APR?

[Zone Read 299]

Looking to replace my Tesla Model 3 performance with another Model 3 performance.  When we got my wife's Model Y last year in March, I found a rate of 3.99% at US Senate FCU, which was at the time a lower rate than the 4.5% or higher I was seeing elsewhere.  Probably a promotional rate.  Love to find a similar deal, anybody seeing anything under 5% APR for 60 months with an over 820 credit score? Lowest so far I've found was 5.24.  

[Chewbacca 7780]

Maybe stop giving Elon money.

[immamac 42867]

7 hours ago, Zone Read said:

Looking to replace my Tesla Model 3 performance with another Model 3 performance.  When we got my wife's Model Y last year in March, I found a rate of 3.99% at US Senate FCU, which was at the time a lower rate than the 4.5% or higher I was seeing elsewhere.  Probably a promotional rate.  Love to find a similar deal, anybody seeing anything under 5% APR for 60 months with an over 820 credit score? Lowest so far I've found was 5.24.  

Yeah dude, interest rates have been raised like 3 times since then...financing anything now is gonna suck.

[52-80 19169]

14 hours ago, Zone Read said:

Looking to replace my Tesla Model 3 performance with another Model 3 performance.  When we got my wife's Model Y last year in March, I found a rate of 3.99% at US Senate FCU, which was at the time a lower rate than the 4.5% or higher I was seeing elsewhere.  Probably a promotional rate.  Love to find a similar deal, anybody seeing anything under 5% APR for 60 months with an over 820 credit score? Lowest so far I've found was 5.24.  

This time last year the 5Y Treasury yield 3.6%, 100bps (1%) lower than today's 4.6%. 

5.25% loan is not too high of a premium above that, and should be considered quite fair.

[Zone Read 299]

9 hours ago, Chewbacca said:

Maybe stop giving Elon money.

Considering the Feds are giving me money to buy the car, and my automobile operational costs are a fraction of what they were when I had my Audi, I'm not opposed to making him a little richer.  

[fattyflattie 4639]

On 4/30/2024 at 9:21 AM, Zone Read said:

Considering the Feds are giving me money to buy the car, and my automobile operational costs are a fraction of what they were when I had my Audi, I'm not opposed to making him a little richer.  

BuT bUt FaScIsM bro. 

[wild_turkey 3167]

I just got an email from Tesla to finance a new Model Y from 0.99% APR. No idea if it’s available on other models.

Why are you replacing your Model 3?

[Zone Read 299]

On 5/11/2024 at 2:54 PM, wild_turkey said:

I just got an email from Tesla to finance a new Model Y from 0.99% APR. No idea if it’s available on other models.

Why are you replacing your Model 3?

Nope, only the Y gets that APR.  I'm replacing mine since it's 4 years old and warranty is about to run out.  New 3 performance models are faster, better looking, and handle better.  This model is a total redesign and it gets rave reviews.    With the 7.5K tax rebate my payments will be lower.  And I know people giving financial advice would say this is financially silly, it's not a big deal to me.  I live pretty frugally and this is my one indulgence.  I love fast cars and I don't want to spend six figures to get one.

[Biff Tannen 45691]

On 5/12/2024 at 8:53 PM, Zone Read said:

Nope, only the Y gets that APR.  I'm replacing mine since it's 4 years old and warranty is about to run out.  New 3 performance models are faster, better looking, and handle better.  This model is a total redesign and it gets rave reviews.    With the 7.5K tax rebate my payments will be lower.  And I know people giving financial advice would say this is financially silly, it's not a big deal to me.  I live pretty frugally and this is my one indulgence.  I love fast cars and I don't want to spend six figures to get one.

Is this the one with the headlights that look like the S?

[Zone Read 299]

5 hours ago, Biff Tannen said:

Is this the one with the headlights that look like the S?

No, they don't look the same, least not to me.

 

 

[Biff Tannen 45691]

8 hours ago, Zone Read said:

No, they don't look the same, least not to me.

 

 

Ah, well certainly more like the S than the original 3.  I'm not really a fan.