Further, new Tesla vehicles have been subject to multiple price reductions, resulting in some downward pressure on the price of used Tesla models. Further concentrating the pool, the Model Y sport utility vehicle and Model 3 sedan comprise around 76% of the underlying pool balance. Also, all of the loans in the pool are BEVs of four models. While the deal has a number of structurally strong attributes, Moody's cautions that as a sponsor Tesla has a limited performance history, with vintage performance data that goes back only to 2021 when they started to originate loans. Like the Model 3 in Malaysia, the Standard Range features a rear-mounted electric motor (RWD), giving it 513 km of range per the. The base Tesla Model 3 RWD starts at THB 1,599,000 (around RM 204k), while the Long Range AWD variant is priced from THB 1,899,000 (around RM 242k). Total initial hard credit enhancement is 7.25%, Moody's said. Tesla has launched the Model 3 ‘Highland’ facelift in Thailand. The amount will be deducted before tax and National Insurance contributions are applied, akin to childcare, gym membership or cycle-to-work schemes. Yield supplement over-collateralization also confer benefits to the notes, the rating agency said. A salary sacrifice scheme allows employees to drive a fully electric company car, by forgoing a portion of their gross salary. The notes will also benefit from over-collateralization, subordination and excess spread, the rating agency said. Moody's expects to assign ratings of 'P-1' on the A1 notes 'Aaa' to the A2A through A4 notes 'Aa3' to the class B notes. Aside from the repayment arrangement, Moody's notes that a non-declining reserve will grow as a percentage of the remaining assets as the pool amortizes, adding to the deal's positive credit aspects. Tesla Electric Vehicle Trust will repay investors sequentially, building enhancement in the notes as the pool amortizes. ![]() The rating agency was also heartened by Tesla's investment grade rating of 'Baa3', making a bankruptcy scenario and significant residual value losses a remote possibility. is also worked out) This document also says 'We usually send funds within 1-2 business days of receiving the document. ![]() ESPECIALLY if you only have credit cards on your file.The loans have strong borrower characteristics, such as a weighted average (WA) FICO score of 733, and WA seasoning of 10 months, according to Moody's. 4.) And at that point I can drive off with my new Model 3 (assuming insurance, etc. 20-35% is a good baseline of what you should expect. The future of sustainable transportation is here This is the Reddit community for EV owners. Related Tesla Tesla Model 3 Electric vehicle Tesla Cars and Motor Vehicles forward back. My application through Tesla was backed by US Bank. With 78K income you have leverage with banks but most likely to get approved even for a M3RWD you’re going to need to put down quite a bit. My cousin applied through Tesla and got the loan backed by Chase. It has to make sense for you.Īnother note: you mentioned short credit history. In my case I THINK buying a car I’ll enjoy makes sense for me financially. I just turned 19, ordered a M3P a few weeks ago, but I also make 6 figures net a year and wear $5 t-shirts. Even if you have no other expenses, don’t put yourself into a huge car loan. Will also help your odds of approval/getting a good rate. Which means even on a RWD M-3 you’re gonna have to put down a lot of money. You mentioned you make $6500 a month? Assuming that’s net, that puts you at $650 for your total car expenses. You should not spend more than 10% of your monthly net income on car expenses, insurance, loan, charging, all of it. In this case, an annual income of about 111,000 would suffice. However, many buyers opt for a loan with a 72-month term, which results in a monthly payment of 652. Also being said again, if you’re financing the car and make 70K a year (I’m assuming gross?) don’t put yourself in a position to where the car payment is a hurdle. For instance, to afford a Tesla Model 3 at its base price of 39,990, you would need an annual gross income of approximately 267,000 to 400,000. Don’t let people sway you one way or another because THEY wouldn’t get a car. Also being said, it’s your money, your decision. That being said OP, most of these people here have a point. ![]() Love how OP asked a question about his potential APR and it turned into a finance lesson, lol.
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