Loan amount
$15,000-$95,000
Min. credit score
670 (purchase), 620 (refinance)
APR from
5.30%-9.50% (with autopay)
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 preapproval
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:
Tenet offers new and used purchase loans for EVs with highly competitive rates. The lender offers extended loan terms up to 84 months, which can lower your monthly payment but will mean paying more in interest over the loan term.
The lender offers extras such as gap insurance, an extended warranty or charger installation.
One perk is the ability to defer up to 25 percent of the principal loan balance and add it to the end of your repayment period, potentially reducing the monthly payment. Make sure to research EV tax credits to help lower your federal and state tax liability.
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 preapproval 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 you are refinancing your must share the following:
| Overall score | 4.1 | |
|---|---|---|
| Availability | 4 | Tenet offers a high maximum loan amount and flexible repayment terms but is unavailable in 17 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.