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How long for an update when applying for a loan through Tesla?

How long for an update when applying for a loan through Tesla?

For folks who arranged their loan through Tesla, how long did you have to wait from submitting the application to approval? When I submitted it said I would hear back in one business day, but we're now on day 4.

Only concerned because our form was a little wonky (applicant/co-applicant were reversed and they have a mailing address instead of the residential address at which the car will be registered). How long should I wait before either resubmitting or seeking a loan elsewhere?

tsutter | 11/04/2018

I got my approval back in less than 24 hours.

Model_D | 11/04/2018

Less than 24 hours via email.

Kathy Applebaum | 11/04/2018

I got mine in about 4 hours.

olsonfamily5 | 11/04/2018

Don't remember exactly, but mine was also very fast. Good luck!

tenka | 11/04/2018

at what rate from Tesla?

Teslaguy | 11/04/2018

I got 3.14% in abut 1 hour. I am a very good boy.

mbui77 | 11/04/2018

Less than a day and 3.85%. Better off going to credit union.

teslamodelx | 11/04/2018

Better give them a call back to see what is the hold up! What state are you at? I got 1.49% to 1.99% for my MS & MX last year through Logix Credit Union bank in California.

Mshaw023 | 11/04/2018

Does tesla deal with less than perfect credit?

EVRider808 | 12/04/2018

Less than 24 hrs

spockagain34 | 12/04/2018

They got back to me in just a couple of hours. Barely two hours if I recall correctly. Definitely give your DS a call if it's been several days.

deno1000 | 12/04/2018

Less than 24 hours - 2.99%

ChrisP1110 | 12/04/2018

I just did mine today and got an email offer back within 20 minutes. 3.29% for 72 months or 3.19% for 60 months.

Xerogas | 12/04/2018

Logix Credit Union offers 1.49% for 34-36 months. For 60 months (more manageable for me) it's 2.49%, so not really fantastic

Dansosa | 12/04/2018

2 hours

Fortunes | 12/04/2018

We found the acceptance message - it was sent out within a few hours but appears to have been stuck in a queue somewhere at our ISP. We're all set now and can't wait for delivery day! Thanks, all!

renutaz23 | 12/04/2018

Star one credit union. Approved today. 2.49 for up to 84 months and up to 120% LTV with 750+ FICO

Darkon | 13/04/2018

Got a response back within 2 or 3 hours (well within the 24 hour timeframe they said I should get a response).

marcelo | 19/09/2019

Mine is taking a long time as well. Applied on Sunday, credit got pre-approved but now it's Thursday I am still waiting for the definite quote.

CAROLINABAZAN81 | 06/11/2019

I submitted mine 2 days ago, it said pending and now i don't see anything on it, it just went back to square one, what? anybody with same issue?

mazopanda | 06/11/2019

Took maybe 20 mins for mine

cfern64 | 13/11/2019

I submitted yesterday, still shows pending.

r3hxn | 14/11/2019

i called them on day 5, there was some problem at their end where the application wasn't linked to my order and i had no one come back to me. But it had been approved , just not linked to the order.

Sarah R | 14/11/2019

A few hours. Applying for credit was the most painless pay so far. Now if they'd just deliver the car ... );

jpdebonis | 14/11/2019

@CarolinaBazan81, I had the same issue around the same time frame. I submitted on the 8th, went back in it deleted, was told to resubmit, and I'm still waiting!

parts007 | 06/12/2019

@jpdebonis/@CarolinaBazan81: same here with me. I am holding off from applying again as I am not sure what went wrong. Please do let us know when you have an update.

jludw32299 | 08/12/2019

You might look at Aspire Federal Credit Union currently offering 2.99% for 5 years. Easy to work with. I think it is a better rate than Tesla. We have 2 Model 3s financed through them.

saibalajifamily | 09/12/2019

same here with me.. applied on dec 6th...lets say they don't work on sundays... till now.. no update.. still says Credit Application Pending

schavezr17 | 09/12/2019

I’m on the same boat. Applied on dec 6th and haven’t heard anything back. Have you tired reaching out?