At a glance

- Availability
- Affordability
- Customer Experience
- Transparency
About Tenet
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Loan amount
$15,000-$95,000
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Min. credit score
620
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APR from
5.89%-16.35%
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Funds available in
As soon as one day following approval
Loan amount
$15,000-$95,000
Min. credit score
620
APR from
5.89%-16.35%
Funds available in
As soon as one day following approval
Before signing off on an EV auto loan with Tenet, consider both its perks and limitations.
Fully online experience
Loan prequalification
Tenet dashboard
Not available in all states
Vehicle restrictions
High minimum loan amount
Tenet outlines a few requirements when it comes to both the loan holder and the vehicle.
You must be:
Your vehicle must:
An unsecured auto loan with Lightstream boasts a smaller loan minimum, ideal for a driver looking to finance a less pricy climate-conscious vehicle. Both lenders have terms up to 84 months which can mean a lower monthly cost. However, Tenet does offer the ability to get prequalified for a loan whereas LightStream does not.
Tenet offers new and used purchase loans for EVs with highly competitive rates. The lender offers extended loan terms of up to 84 months, which can lower your monthly payment but will mean paying more in interest over the loan term.
One perk is the ability to defer payments on up to 20 percent of the vehicle's value and add it to the end of your repayment period, reducing the monthly payment. Interest accrues on the deferred amount. A Tenet spokesperson notes that many customers choose to defer $7,500, the amount of the federal tax credit for new EVs.
If you currently have an electric vehicle and seek more competitive loan terms, Tenet may be able to assist by refinancing your loan. Your savings will vary depending on your loan amount, the term you select and your credit rating and history. Make sure to compare auto loan refinance rates before committing.
The application process is straightforward and fully online. Start by applying for loan prequalification to view rates that are available to you based on your credit score. You will undergo a soft credit pull, which does not negatively affect your credit score.
If there’s a match, review the loan offers and select the option that best suits your needs. If you are refinancing you will also be able to compare your current loan with the new one and choose the top offer. Either way, moving forward with the loan application will result in a hard credit pull that can temporarily impact your credit score.
Next, uploading any financial documents the lender requests and filling out a few forms — all done online. If Tenet approves your loan, you’ll sign online too. The timeline for funding your vehicle depends on whether you buy from a dealer or directly from a manufacturer.
If refinancing, you must share the following:
Tenet auto loan borrowers can bundle add-ons like vehicle warranty, gap insurance and EV charging station installation with their loan. When signing off on auto loan add-ons, calculate how those new costs fit into your monthly budget.
Overall score | 4.1 | |
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Availability | 4 | Tenet offers a high maximum loan amount and flexible repayment terms but is unavailable in 19 states. |
Affordability | 4.3 | The higher minimum APR and standard acceptance criteria are offset by a low maximum APR. |
Customer experience | 3.8 | Tenet offers a fully online experience with support five days a week. |
Transparency | 4.5 | With the option to prequalify and preview rates, Tenet scores high for transparency. |
Bankrate considers 18 data points when selecting top auto loans. Acceptance criteria, whether rates and fees are available and APR range all influence lender scores. These scores are broken up into four categories.
Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.