Any Suggestions for Banks Offering Financing Over 100%?

I'm trying to add Illinois (7%) sales tax to my loan.

Alliant will only go up to 100% and makes you pay sales tax separately.

Logix Federal Credit Union will go up to 125%, but the website doesn't list Illinois as a state.

Anyone other places I can get 100+% financing?

Have you actually applied or talked to anyone at Alliant? They offered to roll my sales tax in if wanted.

Not sure, but try Bank of America or USAlliance credit union. Both are doing Tesla loans.

I emailed Alliant and and "spoke" to Robert's assistant. She claimed the tax needed to be paid direct to dealer. I didn't push it at this point and have yet to actually apply.

I am in the process for a p85+. Financed 100% plus state tax. So far great to work with. Waiting on vin to finish loan. This is who I used... found him on the forum

Jon Krumdick
USAlliance Federal Credit Union
Senior Manager - Sales and Service
Phone: 800.431.2754 ext. 2319
Mobile: 978.833.1962
eFax: 914.881.3475

I apologize, I meant USAlliance. Been a long day. @charleypittle has the contact I used. Very quick and easy in my experience.

Try NASA Credit Union

@cybrown, what do you mean by BofA and the other "doing Tesla loans" ? Is there a special program or something?

100% financing?... my gosh, what's the monthly payment like?... your $1200 monthly car payments could be buying you a luxury condo that appreciates instead of a car that will depreciates 25% the very first year!

BofA and Wells Fargo have collaborated with TM to finance Teslas at 2.49%, and TM will guarantee a 3-yr buyback at ~50% depreciation (matching best net value in the large luxury sedan category).

I believe it's Wells Fargo and US Bank. Not sure about BofA


Congrats Jackie! You corrected Brian before he could correct himself.

@thatryan A couple places I called barely even knew what a Tesla was. Wells Fargo required a $40k-$50k downpayment because Tesla is an "unknown vehicle" without a good history for their actuarial data. Some of the lenders handle the loan differently since you're not buying from a dealership. I just meant that the places mentioned here (BoA, USAlliance, Alliant, PenFed) have all handled Tesla loans without any special restrictions.

Yup, correct.

Don't know when I got the names crossed. Sorry!

I have heard in this forum that USAA will do 100% financing--I got my loan through them, but did not need to finance that much.


@Brian H - B of A used to do it before TM announced the special program with the buy back. B of A backed out on that and was replaced by US Bank - so that's probably why you thought of B of A.

Vaguely recalled something like that, but couldn't be bothered to chase it down. Thanks.

Bank of America is the worst lender on the planet next to Wells Fargo. I deal with these banks on a daily basis, it's a miracle either of them can actually get a loan done. When you hear the term "too big to fail", think "too big to exist in the first place". :)