Leasing under small business and other questions pertaining to ordering

[ymc226]

I ordered a Model S LR which is expected later this year and as this is my first electric car, will likely lease. I tried to get a phone number to ask Tesla specifically but didn't have much luck. Support and Contact us directed me back to the same web pages. Can someone who has leased under their business recently comment.

Under the FAQ section about leasing it states, "For applications supported by a small business, the credit report of the individual applicant will be used to assess the application. Unfortunately, business-only, trust and commercial finance applications are not accepted at this time."

Does that mean I can still lease it under my business entity (using both my name and the business name on the application ) and take appropriate business deductions but Tesla uses only my personal financial information (personal tax return etc) in considering the lease application and will not need to see any business financial info?

Additionally, under the 4 step registration process, under registrant, do I select "company" or "person?" I would assume "company" and would like some clarification as the above FAQ states business only is not allowed.

As credit checks are only valid for 90 days, would one wait to receive the VIN before applying? There was an attempt at identity theft last year so I did lock down my credit and continue to do so. Just want to get recommendations on when to send in my lease application to minimize the need to unlock and lock my credit.

Finally, I have not started on any of the "Prepare for Delivery" other than picking home delivery, the first step. (Steps: Delivery Location, Registration, Trade-In, Payment) Will not continuing to complete this part cause delay in Tesla assigning me a car? I don't have a trade in and don't want to have to reapply for credit until I'm within the 90 day window.

 

[SoulReaper]

I have the exact same question and would also appreciate any info. I too have been unsuccessful getting anyone at Tesla to answer this.

 

[B4M3]

I have the same exact question as well! I want to register my Tesla lease under my business name, use the EIN of my business so that the payments report to my business credit profile so that I can begin to build my business credit. Then use my personal credit as a personal guarantee/co-signer. But it sounds like TESLA will only put your business name on the registration only and use your SSN# to check your credit and report payments to your personal credit profile? I would love for somebody to clarify this.

 

[ymc226]

As an additional issue of Tesla vs your own business auto insurance, I was advised by my business insurance broker to make sure if you go with Tesla insurance which is usually cheaper, make sure the liability is much higher, on the order of $1 million vs the usual non-commercial limits.

 

[melvinalittlet]

Let's talk about credit checks. It's generally recommended to wait for the VIN (Vehicle Identification Number) before applying for any credit checks. This way, you can minimize the number of credit checks and avoid any unnecessary credit inquiries. Once you have the VIN, you can proceed with the credit check process.