Eligibility for The Deferred Payment Option is dependent on a range of criteria, including but not limited to your state of residence, Experian (Vantage) score, vehicle purchase source, term, and Loan to Value (LTV) ratio. The following list provides guidance on how these different factors impact your eligibility:
State & Region Eligibility: Illinois, New Jersey, Pennsylvania, Rhode Island, Vermont, and Washington D.C do not allow for The Deferred Payment Option at this time.
Experian Vantage Score: (Credit Eligibility Requirements) Higher Experian (Vantage) Scores are more likely to be eligible for The Deferred Payment Option.
Loan to Value Ratio (LTV): This is calculated by taking the loan amount and dividing it by the value of the vehicle you are financing. (Tenet receives the value of the vehicle from our partner BlackBook, at the time of your application) Lower LTVs are more likely to qualify for The Deferred Payment Option.
Loan Term: Must be 72 months or less for deferred payment option.
You can check your eligibility for Tenet's Deferred Payment Option by applying for vehicle financing. After entering your personal and vehicle information, you will automatically see the loan offers you qualify for, including any deferred payment options.