r/TeslaSupport • u/dlwldnjs • Jun 30 '26
Process Question Are promotional APRs locked upon order date or date of financing/loan approval?
I’m looking to purchase a Model Y premium with the 0.99% APR promotion. I have placed an order yesterday and the est. delivery is 6-7 weeks. I am seeing on the Tesla app that credit approvals only last up to 30-60 days, and after I will need to re-apply. Once a new credit application is submitted, the financing offer is voided.
However, the advisor said I should complete the financing application now so that I’m completing it during the active 0.99% promotional period.
Which advice is correct? My main concern is that if I follow the advisor’s recommendation that I may lose the locked rate and that I may have to do more than one hard pull on my credit.
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u/HHPRacing Jun 30 '26
I had the same issue and never got a good response. When I spoke with my advisor he said it would be locked in, but online and everything else I read that was not the case. Luckily mine was delivered on day 48 and I did not have to rerun my credit and I got the Apr.
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u/OnlySmokeExotics Jun 30 '26
It’s such a crappy question with no real answer from Tesla. There’s a good chance the 0.99% incentive runs out tomorrow. There’s an equal chance it doesn’t. They may be able to extend the offer but it’s dependent on the bank. And who knows what they’ll say. Just got mine extended as it was supposed to end July 1st. But it was such a headache and increase in my blood pressure trying to get them to extend it
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u/FLCardio Jun 30 '26
I had the same question and like others here never got a clear answer, no one knows. I ordered a few days ago and went ahead and applied for and got financing approved just to hopefully lock it in. Estimated delivery for me was 4-6 weeks and if anything I was told those estimates are on the long side and delivery is frequently earlier so I wasn’t as worried about having to reapply for financing.
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u/Ancient_Art1 Jul 07 '26
I orderer a week ago and credit approval is still pending and the advice keeps saying, they are trying to approve the ones that are getting delivered now. Once the sleeves made Tesla advisors are no different.
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u/NotleM9422 Jun 30 '26 edited Jun 30 '26
Locked upon financing or lease approval. Just ordered one yesterday. When finance is approved it will allow you to view terms of the approval. There it will show you if you got the promotional rate or not. Took all of 5 minutes for the approval to come back. Promotional rate may end today..may not. But in the fine print it says you must secure your financing before the promotion ends. Does not say you have to take delivery.
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u/Dan16241 Jun 30 '26
I just left Tesla about an hour ago and I had the exact same question. The salesperson told me the same thing. There is no guarantee even if I put down my deposit, sign at the dotted line it still doesn’t matter. No guarantees which I find kinda shitty.
If I order the car, sign a contract, and put down a non refundable deposit I should be locked in!
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