Financing / Credit decision

[gvagolf]

Hi all,

I received my invite yesterday 12/28 and ordered on the same day (AWD Foundation Series). I completed the Tesla financing application and received an immediate approval. During the process it said the credit decision was good for 30-60 days (I wish I would’ve screenshotted it). Am I overly optimistic to think delivery may occur in that timeframe or are they likely to do another hard pull closer to delivery time? I am curious if any members who have taken delivery could speak to that.
Thanks

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[Crazzyguy]

Hi all,

I received my invite yesterday 12/28 and ordered on the same day (AWD Foundation Series). I completed the Tesla financing application and received an immediate approval. During the process it said the credit decision was good for 30-60 days (I wish I would’ve screenshotted it). Am I overly optimistic to think delivery may occur in that timeframe or are they likely to do another hard pull closer to delivery time? I am curious if any members who have taken delivery could speak to that.
Thanks

you should've waited to submit financing app because they'll run your credit again after 60 days (if the vehicle isn't ready for delivery within the next 60 days)

 

[TexasRaider]

I reached out to Tesla, because I had questions also.
If you hadn’t completed the financial aspect, your CT order wouldn’t have progressed.
You will have a chance to renegotiate or change your method of payment when it gets close to your delivery date. (Per Tesla call center associate in NV about two weeks ago.)

 

[DumpsterFire]

you should've waited to submit financing app because they'll run your credit again after 60 days (if the vehicle isn't ready for delivery within the next 60 days)

Just curious. How do you know this?

 

[gvagolf]

I reached out to Tesla, because I had questions also.
If you hadn’t completed the financial aspect, your CT order wouldn’t have progressed.
You will have a chance to renegotiate or change your method of payment when it gets close to your delivery date. (Per Tesla call center associate in NV about two weeks ago.)

Thank you for sharing.

 

[dandor]

Just curious. How do you know this?

They literally say this when you do the loan application on the app. It says something like the following. Are you sure you want to continue? Loans are for 60 days, 30 day rate guarantee. If it is past 60 days, you will have to reapply and it will involve another credit check.

 

[TexasRaider]

So, I reached out to Tesla to obtain an update on my trade in value as I submitted new photos requested yesterday.
The call center associate advised that I might not obtain an immediate response as the trade in teams prioritize trade-ins for orders nearing a delivery date. (I currently don’t know my delivery.)

 

[mightygoodone]

I ordered the Cyberbeast which came out to $121,135.

Would it be possible to get approved for a zero down payment from Tesla Finance? Don't mind the higher monthly payment.

I've seen for the X and Y in the past. Would like to do this for the Cyberbeast.

Thanks!

 

[TexasRaider]

I ordered the Cyberbeast which came out to $121,135.

Would it be possible to get approved for a zero down payment from Tesla Finance? Don't mind the higher monthly payment.

I've seen for the X and Y in the past. Would like to do this for the Cyberbeast.

Thanks!

Unfortunately, I would highly doubt it. However, please let us know when you get to that step and see what Tesla says.

 

[Coolbreeze704]

That will be 30k in interest over 72 months at 7%!

 

[Woodrick]

Just curious. How do you know this?

Because it's what the screen said and it's the way that Tesla does all their vehicles. For any of their vehicles where delivery has taken time, loans and trade-ins have to be recalculated.

And guess what trade-ins will go down. (the car is older, duh!)

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