Credit Score for Tesla Financing

780

I have an 805 credit score and a very high NW but my pension is small. My partner pays all our expenses. The rates I was being offered were highway robbery. I was pissed that I had to add my partner to the loan to get the 2.99% interest rate they were offering in January.

Now that's a goal to reach!! One day I'll be there!

Understood. That seems like a good rate or no?

Just got approved with a 656

Which bank was it through?

Tesla Finance

Sounds good. Thank you!

Crazy, I’m a mid/late 20s, 805 credit and I got the 0.99% rate. I did put down 40% so maybe that accounted for it but still crazy you had to add your SO to the loan

I put more than 20% down. I think it’s because, on paper, my monthly income looks small. I was pretty upset and am actually moving my investment account because of it.

Approved for what apr percentage though?

Ha, and that's where they got me 😆 ...so my credit score was a 515 less than a year ago..used a chime credit builder card for almost a year and (it's now 674!) ... At time of purchase (last week) my report looked like this: 1 current account, 100% on time pay, 3 in collections (total for all 3 a hair over $1100) , credit age of 1yr 9mo...put my income at $68,500...rent $1500 per month... Tesla Finance approved me on a 2023 model 3 with 18,200 miles on it... Car price: $23,700 ...$2,971.50 down payment, $410.55 monthly payment...72 month loan at 12.49% ..$4,500 due at delivery.. Its a crazy rate, but I knew we had to start somewhere on the credit rebuilding journey... expected to at least have to show proof of income or something, but nope...got an email from Tesla explaining that I'm a high risk loan and that was the reason for the terms... I pick it up tomorrow morning!!

Yeah I’m looking at 0.99% but you need more than 720?

Yeeeeah, I wouldn't know anything about those kind of rates 🤣🤣 ... about 6 years ago maybe, but not currently...I absolutely DESTROYED my credit in February of 21...found out I had a brain tumor and it was looking extremely grim...to the point i really believed I wasn't going to wake up from the surgery to remove it ..had 9 days from diagnoses til surgery day ..let's just say I packed a lot of fun into those 9 days 🤦🏿‍♂️🤣 ...maxed out both cards , took out a new and maxed, took all rent n bill $ for the month and made sure that I not only had fun, but that everyone I encountered did as well ..blew through about $38k in a week...first thought when I woke up in recovery: I'm alive!! 😁😁😁😁 ...2nd thought: oh fuck, I'm alive 😳😬

I got 3 percent interest on a 49k model y premium AWD with a 650 credit score and a 400$ bill in collections lol. You might get approved

Thank you for the feedback. I appreciate it. I'm not really pursuing a brand new one at $50K, but that's awesome you got approved!

I've never once in my life heard of income affecting the rate on a passenger vehicle loan.

840 credit score, approved for 0.99 for MYP RWD. Taking delivery this saturday.

But what a story!

My score is 850, sold my truck and put $8k down when I got my ‘26 Juniper MY back in June of last year

830, approved 0.99% with $3 down payment (not include tax).

720 Credit score & I got 0.99% interest rate.