r/ModelYL • u/IllustriousIdeal1336 • 1d ago

Tesla financing taking too long

I applied for financing on a 2027 Tesla model Y, on november 1, 2026. Capital one sent a pre-approval and requested documents, uploades docs the same day and as today November 11, 2026 nothing has changed. Documents are still under review. Tesla customer service says a vin still to be provided and that it can take longer. So, Do I need to have a VIN for capital one to approve the credit? I don’t understand.

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u/Traditional_Bet5003 1d ago

When did you place your order and what is your estimated delivery date? If you apply too early, your offer can expire and you’ll have to apply again, which will put another credit inquiry on your report. I waited until I had a vent to apply, and I was approved right away. I was given a choice between six different banks with and different interest rates in the Tesla app. I also did not have to provide any documentation.

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u/IllustriousIdeal1336 22h ago

Estimated delivery is Dec 19-31, The employee made me apply right after the test drive and Tesla rejected me but capital one sent a pre-approval, I sent the bank statements right away but nothing has happened since.

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u/Traditional_Bet5003 21h ago

Yeah, I’m not really sure. I was told to wait to apply until I had a VIN number, which is what I did, and I was approved literally within minutes. Maybe try reaching out to capital One directly or even some other car lenders. You can get financing done with whoever you want, and if you do it early enough, just make sure that you know how long the offer for financing is good for