Complete Credit Application. To enable a well-rounded credit decision, a complete credit application refers to thorough and accurate information as it pertains to the applicant’s income, financial resources and assets, employment and residence history, credit obligations and payment history, and the amount of credit desired as it relates to the vehicle configuration and options. The application specifically needs to contain: • Information regarding the applicant(s) • Valid SSN (US), SIN (Optional in Canada) or Tax ID number • Asset and debt (liability) information • Vehicle price details • Any trade-in, capitalized tax or additional down payments that impact capitalized cost The credit application information is supplemented with the consumer credit bureau record of the applicant’s credit borrowing and payment history. Certain identified information has been omitted from this document because it is not material and would be competitively harmful if publicly disclosed, and has been marked with “[***]” to indicate where omissions have been made. For the purposes of this policy, a credit application is considered incomplete when there is insufficient information to make a fully informed credit decision. Common reasons contributing to an incomplete credit application are: • SSN is not accurate or does not match true applicant • Applicant/co-applicant did not have sufficient time, desire, or available information to complete all sections at credit application or upon follow up An incomplete credit application can be decisioned as pending (Manual Review) or declined due to an incomplete credit application. If the applicant provides the requested information, the credit department can continue to process the application through the normal process. If the applicant does not provide the requested information after reasonable attempts to obtain this information are exhausted, the adverse action notice should be sent and no further action is needed. Requesting information from the applicant/co-applicant: When insufficient information is received, or additional information is needed to support the credit decision process, the credit department may follow up with the applicant(s), their legally authorized representatives, or Tesla sales /delivery personnel as appropriate. The credit department associates may not ask, discuss, infer, or consider prohibited bases such as an applicant’s Race, Color, Religion, Ethnic Origin, Age (if legally eligible to contract), Sex and marital status, public assista...
