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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 avril 2018

I got my approval back in less than 24 hours.

Model_D | 11 avril 2018

Less than 24 hours via email.

Kathy Applebaum | 11 avril 2018

I got mine in about 4 hours.

olsonfamily5 | 11 avril 2018

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

tenka | 11 avril 2018

at what rate from Tesla?

Teslaguy | 11 avril 2018

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

mbui77 | 11 avril 2018

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

teslamodelx | 11 avril 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 avril 2018

Does tesla deal with less than perfect credit?

EVRider808 | 12 avril 2018

Less than 24 hrs

spockagain34 | 12 avril 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 avril 2018

Less than 24 hours - 2.99%

ChrisP1110 | 12 avril 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 avril 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 avril 2018

2 hours

Fortunes | 12 avril 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 avril 2018

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

Darkon | 13 avril 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 septembre 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 | 6 novembre 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 | 6 novembre 2019

Took maybe 20 mins for mine

cfern64 | 13 novembre 2019

I submitted yesterday, still shows pending.

r3hxn | 14 novembre 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 novembre 2019

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

jpdebonis | 14 novembre 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 | 6 décembre 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 | 8 décembre 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 | 9 décembre 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 | 9 décembre 2019

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

Boostedmaddog | 15 décembre 2019

Same boat here, applied on the 6th, got a trade in quote on the 8th, but the loan was conditionally approved, they wanted proof that I was trade in one of my cars or one of loans was coming off my name. I sent everything in and it still pending. I contacted the Tesla, they transferred me to the local branch (NY) and they told " you have plenty of time since there isn't a VIN yet, between now and February everything should clear up. FEBRUARY?? When I asked about the delay he said January inventory was heading to other markets outside of the US. I'm gonna pass by my local Tesla tomorrow to see if I can speak to someone. BTW estimated delivery was between 2-3 weeks for a 3 performance when I ordered.

Tgm518 | 16 décembre 2019

I had similiar issues, SA told me that they are in the middle of upgrading computer systems and it was causing issues.
My credit was pending for 3 days, I called in, had to upload documents for address verification, then it went approved. Then a week later it went back to pending when I got a VIN and delivery date. Called back in, SA never saw the approval notice on their end only the pending for address verification (a second time).

SA then reached out to tesla credit dept, and they had it resolved within a few hours. 3.04% @ 72months.

Boostedmaddog | 16 décembre 2019

Just got my delivery text today
M3P+
Order on: 12/06
Delivery on: 12/23
Loan still pending : (