Financing - First Loan

[WaleedEV]

I'm looking to finance a Model X. This will be my first time ever getting a loan as I usually pay in full for my other vehicles. Is it an easy process? My score is around 750 right now, so I'm not sure how likely I am to even get approved since it will also be my first loan. I'm planning on putting about $25k down towards it and most likely will have it paid off before the loan period is finished.

Has anyone here gotten approved for a Tesla as their first loan?

 

[jsteward]

With a score like that, assuming you have an income/expense ratio that is acceptable, you shouldn't have an issue. The application process is super easy and I had approval confirmation in minutes.

 

[laceyboy]

Normally, auto loan lenders don't use income/debt ratio or ask for proof of income unless you have subpar credit scores.
At 750 and if you have some credit cards or even mortgage, then you should be good and get approved within minutes.

 

[lowtek]

America's First has 2.0% for 48 months, free money!

 

[TurboMike]

I live in Los Angeles. Searched a lot of providers. Best rate was LA Financial Credit Union at 2.74% for 72 months. This rate requires you have an account with them which you can make in 5 minutes on line and only requires a $5 deposit.


Here is the link to the application: XA LPQ Mobile

2nd best rate I found was with California Federal at about 3.4%