Toys4RJill

Tesla owners have the highest credit scores

https://ca.finance.yahoo.com/news/te...161815773.html


Porsche and Lexus owners followed closely with buyers boasting a credit score of 727 and 699, respectively.

The correlation between credit scores and cost is obvious: luxury cars are expensive, hence the auto loan taken out requires a higher credit score.

But what’s not obvious is the fact that Tesla cars were the costliest among all luxury vehicles.

One clue: According to a separate study, used Teslas were found to be more expensive than Porsches, with buyers spending an average of $54,234 on the electric vehicle versus $42,173 on the German car.

That means those Tesla owners would need to make monthly payments at $818, while Porsche owners only pay $635.

Additionally, Teslas also demand high monthly premiums, which also drive up the overall cost of owning the car.

Propulsion

Not really surprising that a concentration of higher scores would be found amongst Tesla owners.

Why? Because Tesla is still a relatively niche brand in my view. It’s not a “mass produced” brand which means the financial profiles of it’s buyers will more likely than not have some synchrony.

Toys4RJill

Yes makes sense.

Johnhav430

Are those scores high?

bitkahuna

iTrader: (20)

Just another virtue signaling article designed to bring social comparison and clicks...

situman

Well you have to be pretty well off to risk buying a car from a company that could be out of business in a few years leaving you high and dry with a car that no one can repair or that is extremely expensive to repair.

bagwell

exactly

Zmon

iTrader: (2)

I'm surprised with how low these numbers are for the most part, I'm sure people wonder why they get a junk interest rate half the time.

jadu

iTrader: (42)

lol makes sense. tesla financial services needs to ensure you have have $$ and a high credit score to ensure you dont default on their car loan so they can pay towards they huge cash burn they accrue every minute

Toys4RJill

Does anyone know what the interest rates are on a Tesla?

nosurprise

iTrader: (1)

I was thinking the same thing. If they're above 750, I would say so -- I guess 740 is close.

To be fair, I supposed it's the "highest"

SW17LS

They're "average" numbers, which doesn't really tell you how many people have higher scores or lower scores.

These are also AUTO ENHANCED scores, which are different from regular FICO scores. My Auto Enhanced scores are always lower than my regular FICO scores (not sure why)

ShrinkDoc

I suppose that Rolls Royce, Bugatti and Bentley Mulsanne owners would have even higher scores!

A more fascinating statistic would be why Porsche owners have less sexual frequency than Mustang, INFINITI Q50 and Pontiac Solstice owners! Anyone wanna take a guess?

Sinecure

Hmmm. We have a Q50. This is a great stat to know. ;-).

arentz07

You have a Q50 in addition to your QX50?