Foundation Series purchase using Tesla Finance?

[Tmoney]

For the ones that ordered the Foundation Series, did you also go through the Financing steps on the app?
I’m debating on doing this as I have no clue when this truck will be ready.
say I fill out the Tesla finance form via the app today, what happens if the truck is not delivered within a few months?
Would one have to resubmit another finance application?

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[Crazzyguy]

For the ones that ordered the Foundation Series, did you also go through the Financing steps on the app?
I’m debating on doing this as I have no clue when this truck will be ready.
say I fill out the Tesla finance form via the app today, what happens if the truck is not delivered within a few months?
Would one have to resubmit another finance application?

Your loan approval is only good for 60 days. After 60 days, Tesla will run your credit again

 

[Celiboy]

I entered the info for my credit union but won’t seek out the loan until I get my VIN issued.

 

[Derektsla]

I submitted it, but all my credit scores are locked, so they can’t check it now anyway. The app still says pending. Maybe they don’t even try to run credit until closer to your delivery?

 

[Outdoors]

Maybe this is the new quandary that Tesla has created when they said in January through March.
Many people are going to do this after going through the process. My hope they're ready to follow through on the time frame within reason.

Yet as I have told others I would not apply for financing until I receive the VIN. Have your ducks in the row. Get ready for whatever your institution requires for documentation so you don't delay them.

Paying cash. Planned for this time for years.

 

[CyberJerry]

I got the invite on the 28th and put down 1k that night, and also applied for Tesla financing. Last night (Dec 30th) they ran my credit at about 10:15pm. No changes yet on app. Ordered the dual motor.

 

[Tmoney]

I got the invite on the 28th and put down 1k that night, and also applied for Tesla financing. Last night (Dec 30th) they ran my credit at about 10:15pm. No changes yet on app. Ordered the dual motor.

This is what I’m nervous about. Dealerships will always run your credit, the issue here is the unknown as to when this truck will be ready.
as someone previously stated, these credit checks are only good for 60 days.
I may just wait a month or so or when actual ppl outside of Tesla employees start to get theirs.
my order went in 2 weeks ago.

Alternatively, my other reasoning for being cautious stems from the truck I just sold to prepare for the CT. 2024 RAM 1500 which took just over 5 months from the date of order to delivery date.
but I'm sure Tesla may be different here?

 

[CyberJerry]

Agreed. I’ll keep you posted of any changes. Btw, I’m in NJ

 

[CyberJerry]

This is what I’m nervous about. Dealerships will always run your credit, the issue here is the unknown as to when this truck will be ready.
as someone previously stated, these credit checks are only good for 60 days.
I may just wait a month or so or when actual ppl outside of Tesla employees start to get theirs.
my order went in 2 weeks ago.

Alternatively, my other reasoning for being cautious stems from the truck I just sold to prepare for the CT. 2024 RAM 1500 which took just over 5 months from the date of order to delivery date.
but I'm sure Tesla may be different here?

Financing was approved today, and I confirmed it. Now waiting to have access to schedule delivery. Hopefully this happens soon.

 

[cybrtrk84]

Financing was approved today, and I confirmed it. Now waiting to have access to schedule delivery. Hopefully this happens soon.

hopefully you get delivery soon. The bummer would be if it's more than 60 days out and they need to run credit again.

 

[TwiztOG43]

It’s the same with any other Tesla. I took delivery of 2 vehicles during Covid. Always put in Cash during the order, then when you are notified to take delivery, told the representative and they changed to finance. To avoid not be hit with another credit inquiry if it was more than 60 days.

 

[Tmoney]

It’s the same with any other Tesla. I took delivery of 2 vehicles during Covid. Always put in Cash during the order, then when you are notified to take delivery, told the representative and they changed to finance. To avoid not be hit with another credit inquiry if it was more than 60 days.

interesting. Is there a reason why one wouldn’t wait to hear from Tesla first before advising if one is going with cash or finance?
Does waiting somehow knock you back in line?

 

[DumpsterFire]

Your loan approval is only good for 60 days. After 60 days, Tesla will run your credit again

Again. How do you know this?

 

[WoodChuckDad]

My first house was $72,000 at 6.5 percent on a VA loan. Financing a Cybertruck would be more than that. That blows my mind a little bit. At one point I had 65k in carloans and was shelling out $1,500/month in payments. It was painful but it didn't hit that magic $72k threshold. I know that many of you make scads more than I ever will. But a 90k loan for a car makes my stomach hurt.

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