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Hoegh Chiba - 2nd of March
Tesla HP is the same monthly payment as An Post loan, so they are on par with the cheapest on the market.
That said, I've been waiting 2 weeks for any news on mine and I'm considering just applying with An Post now.
You ordered two weeks ago? Ye the only difference for me between an post and tesla HP is that I would own the car immediately with the an post route.
Yeah, ordered the car 2 weeks ago today and applied for financing at the same time.
Had a request for bank statements 2 days later, and nothing since. Sent a reminder but still nothing.
Actually I think I'm going with AIB green loan. That's on the spot the same repayment as Tesla HP, where An Post is actually more expensive if you're not already a banking customer with them.
I'm also re-considering HP not fully knowing how it worked, because I would prefer to be the owner from the start.
I went the An Post route purely to have the option of paying off early.
I used the Tesla finance, and it was approved within minutes, on a Saturday morning.
Where does it say that An Post is more expensive than 5.9% if you aren't a banking customer with it?
Nope. The HP company owns the car until the final payment is made. The only difference is Avantcard (An Post's finance provider) will own the car as opposed to Finance Ireland, who do the same for Tesla.
I just got the VIN for my grey M3RWD ordered on 26/Jan. It's on the Hoegh Chiba 🤗
Is it possible to pay off the Tesla HP early? Or in higher amounts to the agreed monthly payment? Seems to be light on details on their site.
When I checked Bonkers, I got the same repayment as Tesla finance.
But when i went on to the An Post money site the repayments came back more expensive. Then I saw that on Bonkers the fine print read rate only available to existing customers
Strange! I got an e-mail 2 days later asking for bank statements and haven't heard back since!
Did you go with Finance Ireland or with AIB through Tesla?
You will be able to pay it off early like any hp but not vary the monthly amounts I suspect. Most hp or fixed rate loans the same
I just chose Tesla Finance, and I think I was automatically routed to Finance Ireland. It could have been quicker for me as the previous car loan I had, was also with them.
As for payment, I can see that my loan approval is listed on the order page of my car, so it is all approved and verified.
That's not how it works. The An Post loan is an unsecured loan as its not against the car specifically, compared to the Finance Ireland arrangement being HP as it is a loan secured against the car. In the case of the unsercured loan you can sell the car or trade it and continue paying the loan.
A loan and hire purchase are two different things. A loan is unsecured, so you own the car at all times. A HP is a hire agreement, where they give you the car at the end, but you never own it during the agreement period.
Exactly, hence why the original poster said that the difference would be that they would own the car from the start if they go the An Post route. The Green Loan from An Post isn't HP whereas Finance Ireland is. Avant never have any claim in the vehicle if An Post loan is used compared to HP via Tesla. They're two completely seperate products and the original poster was correct as to the main benefit of going the An Post route.
They gave me the 5.9% and I am not an existing customer (unless purchasing the odd stamp, the TV licence and Dog licence off them counts!).
It was a text
Just checked an post there now, and the rate they are offering me is 7.5% seems to have jumped since you got yours sorted.
Gave 9%! Didn’t go with them in the end.
One of the factors to be aware of with An Post /Avant Money is that the advertised rate is not neccessarily the rate that will be offered after assessment as they set the rates based on individual circumstances. The headline rate can be applied for and might be displayed after the initial eligibility assessment but they may jump to a higher rate once they assess the application.
You are right. Just went into the same loan calculator now and it is showing up as 7.5%. Avant were offering 6.4% fixed directly when I was looking but this may have increased too.
Yeah I see from loan calculator now that if you are borrowing less than 20k the rate is 8.9%
This is good to know and somebody mentioned this to me previously. One to watch out for. Triple checked my agreement there and they have stuck to the quoted rate.
wow what's the cost of the 47K loan @ 5.9% over 5 years - €6K ?
Just received an email to schedule delivery. Confirmed for 18th of March
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I just got a loan from An Post, fully signed and received as of today for 5.7% (5.9% APR) . I'm neither a customer and this isn't HP, I don't understand the confusion here. No early repayment fees and fixed. Quite clearly cheaper than Tesla HP (where you don't own the car also to note?)
21st for me. Yay
