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Tesla Lease

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Member

Tesla Lease

What score does Tesla look for when leasing? And what do they pull?

 

Utilization: 30%ish and going down

DTI: 20%ish 

Score: High 6s

 

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Regular Contributor

Re: Tesla Lease

I 'believe' Tesla prioritizes US Bank for their leases.
In that event more than likely TU FICO 8.
Current Score (01/13/2020): EXP: 680; TU: 684; EQ: 665
Gardening as of 01/13/2020

Community America CU Cash Rewards - $10000 | Discover It Cash Back - $4000
Nordstrom Credit Card - $4000 | BMO Harris Cash Back MasterCard - $4000
Discover It Cash Back - $2000 | US Bank Cash+ Visa Signature - $2000
Target Red - $1100 | Chase Starbucks Visa - $1000
Capital One Quicksilver - $700

Total Credit: $28800
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Member

Re: Tesla Lease

What scores do they look for?

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Valued Contributor

Re: Tesla Lease


@austinnieko wrote:

What score does Tesla look for when leasing? And what do they pull?

 

Utilization: 30%ish and going down

DTI: 20%ish 

Score: High 6s

 

In April 2019 in California, they said minimum 650. Keep in mind, FICO score is not the end all, it's a starting data point. Alliant FCU has a Tesla financing specific option as well. At the minimum, I would shop both (same day).

 

https://www.alliantcreditunion.com/Applications/LOS/TeslaHome

 


 

Message 4 of 6
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Re: Tesla Lease

I can confirm this, at least for Texas. I just had my lease approved today. They only did a hard pull on TransUnion. However, according to the rep they do a soft check across all three credit bureaus.




Message 5 of 6
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Valued Contributor

Re: Tesla Lease


@dirknights wrote:
I can confirm this, at least for Texas. I just had my lease approved today. They only did a hard pull on TransUnion. However, according to the rep they do a soft check across all three credit bureaus.

Cool. Congrats! to you Smiley Happy although the OP hasn't posted in almost 8 months Smiley Wink so I'll guess he doesn't care. 

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (05/20/2020): FICO 08 EXP: 743; TU: 751; EQ: 759
2020 Goal Score: 760 across the board


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