Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.
Register
  • Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
  • The final cut of TMC Podcast #29 is available now with topics time-stamped. We discussed the Tesla Cybertruck's expected 1 MW Ultra-Fast Charging capability, the Tesla Semi Delivery Event, the coming Model 3 refresh (project "Highland"), and more. You can watch it now on YouTube.

Tesla Credit - How Long For Reply Back - Given End of Q2 is 4 weeks away

Before all the economic turmoil and craziness I had entered into my account no trade, payment in full (cash) for my MY. That was a while ago and a lot of things have changed since, so when I finally got a VIN and MVPA earlier this week (Mon), I tried to contact my DA via e-mail but crickets. Late Tues afternoon I reached out to my local SC and got somebody there to reset the payment on my account so I could apply for a loan instead, to hold onto some of that cash for rainy day fund until things settle down. I submitted my loan application early Tues evening and once again, crickets, nothing yet, no credit inquiries and no change in loan apply status in account, no e-mails or texts (par for course for me). My account page is still showing: Credit Decision Pending - Your credit application has been received. We will contact you with the credit decision and terms.

Questions:
I was led to believe that this was pretty quick, usually 24 hrs or less. Is that the case? Or is it slower now due to big end of Q2 push and they have a lot more applications?

I want to get this set up before my MY actually arrives, so wondering how much longer should I wait before I should contact them to see what is going on.

Thx.
 
I have seen it take 24 hours to almost 3-4 days. It really all depends I feel. We still haven't gotten anything for our Y yet, but I haven't filled out the credit approval yet, don't want to take a hit and then another if its delayed. I wonder if selecting "cash" makes a difference.
 
Before all the economic turmoil and craziness I had entered into my account no trade, payment in full (cash) for my MY. That was a while ago and a lot of things have changed since, so when I finally got a VIN and MVPA earlier this week (Mon), I tried to contact my DA via e-mail but crickets. Late Tues afternoon I reached out to my local SC and got somebody there to reset the payment on my account so I could apply for a loan instead, to hold onto some of that cash for rainy day fund until things settle down. I submitted my loan application early Tues evening and once again, crickets, nothing yet, no credit inquiries and no change in loan apply status in account, no e-mails or texts (par for course for me). My account page is still showing: Credit Decision Pending - Your credit application has been received. We will contact you with the credit decision and terms.

Questions:
I was led to believe that this was pretty quick, usually 24 hrs or less. Is that the case? Or is it slower now due to big end of Q2 push and they have a lot more applications?

I want to get this set up before my MY actually arrives, so wondering how much longer should I wait before I should contact them to see what is going on.

Thx.
Credit decisions are almost instant these days. I had a credit check as soon as I submitted the application and rate reflected in my account in less than 10-15 mins.

Something isn't right in your case. Why don't you email [email protected] and ask them whats going on? They are really quick to respond.
 
Credit decisions are almost instant these days. I had a credit check as soon as I submitted the application and rate reflected in my account in less than 10-15 mins.

Something isn't right in your case. Why don't you email [email protected] and ask them whats going on? They are really quick to respond.

Thx. I guess I may have to do that. I hate the lack of communications thus far, never e-mail or texts or call, seems like I can only get my local SC and that i because I call them. It should never be this difficult to buy a product. Crazy but then again look at the current state of affairs in our world, the measuring stick has changed quite a bit in the last few months.
 
Update: E-mailed Tesla finance and they got back to me in 15 min with loan for me to accept. 2.39 - 60 month - Chase. That killed my MVPA so I assume a new one will be generated to replace it. If everything else with their comms was so quick and responsive, it would be a much more enjoyable experience to purchase. Thx again.
 
  • Informative
Reactions: DaBucketKicker

About Us

Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.

Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.


SUPPORT TMC
Top