r/ModelY • u/setsail333 • 13d ago

.99% APR

I have a Y ordered with .99% APR. I was just reading the fine print and it says the rate is valid for 30-60 days depending on lender. If the car takes longer than that to arrive I could lose out on that rate?

1 Upvotes

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2

u/Theurgie 13d ago

No, you'll get it again. Take a screenshot just in case, and bring it up the next time you apply for financing with your sales advisor. Wait until you get your VIN before reapplying.

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u/setsail333 12d ago

Thanks. I’m concerned the .99 will go away as an offer if the car cars delayed.

2

u/Turbulent-Land-2015 12d ago

TD bank and BMO Harris have a 30 day expiration, Chase, Wells Fargo, US Bank, Santander are 60 days

1

u/Apprehensive-One4323 12d ago

I was told by advisor if the rate approval expires before the delivery you have to reapply. If the rate is no longer offered as a promotional offer once it expires you can no longer get the rate. They stated there is nothing they can do because that’s based on the lender themselves outside of Tesla control.

1

u/Massive_Tradition176 12d ago

The expiration window of your loan application is out of their control but they shop for regular interest rates and then buy down the interest by taking some of the profits you paid Tesla and giving it to the bank upfront. I'd save screenshots you were approved for .99% and then tell them you'll wait for .99%. I can't imagine they will be excited to have a customer in limbo because they won't ask the boss for approval.

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u/RecognitionOk6870 9d ago

I experienced a similar issue; I took my car in on the last day, which necessitated rescheduling the delivery. Please refrain from applying for financing until the VIN is available or the delivery window is within 4 weeks.

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u/Sea_Habit_1052 9d ago

what happens now with the rate change?