When to initiate credit application process

When to initiate credit application process

I logged into my Tesla account to be pleasantly surprised that the Vehicle Identification Number (VIN) for my 3/30 order for a 75D was posted.

Since I will be financing the car, when should I initiate the credit application process?

When someone informs me the estimated delivery date? I want to make sure there is enough time for the credit application process.

My dream of owning a Tesla Model S is finally coming true.


jordanrichard | April 18, 2018

No sooner than 30 days out. At least with my bank, the financing terms ie; APR are only good for one month. Check with your lender and see what their terms are.

avesraggiana | April 18, 2018

The sweet spot for me when I financed two Teslas was about a fortnight out from estimated delivery date. If you have some vague delivery time, like "Early May," then starting your application process today or later would be appropriate.

AmpUp | April 18, 2018

Provided you have decent credit, the processing is pretty fast. It took two working days for me. To be safe, give yourself a week or two, but don't start too soon. There is an expiration date on the loan approval, but not on the delivery of the car.

pnajar | April 18, 2018

Having just done this for a delivery on 3/23 I can agree with the above. The processing is fast with loan approvals in one to two days. Since the quotes are only good for thirty days don’t bother sending you loan application before then. Make sure you remember to unlock your credit report from just before sending your loan application until you receive a loan approval to your liking. Remember to re-lock your credit report.

p.c.mcavoy | April 18, 2018

@Joe.guerrero - As others have said about two weeks (or a fortnight) should be more than sufficient. Longest part of the process for me was trading emails with contacts at Alliant around the GAP insurance they offered and understanding all the details. The actual credit approval occurred same day that I applied on-line.

For, that was about when my car actually entered production. Note - getting a VIN assigned does not mean they are starting assembly. About 5 days after that I had notification of my car being release to shipping and my estimated delivery window started to narrow. Went from a general “late June/early July” to a specific two week window, then a few more days later narrowed to a one week window.