Of course they collect this data! Do you understand what Plaid does?
Here's what happens:
Tesla says I want to verify that a human is purchasing a car, take a deposit, and get the information needed to pre-approve the customer for the loan required to buy it.
Plaid says, we can do that for you. Plaid has you link your bank account so it can 1) verify your identity, and 2) give Tesla the information needed to debit your account. Then Plaid pulls your account history and asks you to link additional accounts as needed to get the relevant information for the underwriting process.
This allows Tesla to complete this process entirely online without a dealership in about 2 minutes. If you've ever bought a car traditionally, applied for a loan, or even linked bank accounts into a budgeting app, this is an incredible UX win for the user. Shocking, even.
Here's what happens:
Tesla says I want to verify that a human is purchasing a car, take a deposit, and get the information needed to pre-approve the customer for the loan required to buy it.
Plaid says, we can do that for you. Plaid has you link your bank account so it can 1) verify your identity, and 2) give Tesla the information needed to debit your account. Then Plaid pulls your account history and asks you to link additional accounts as needed to get the relevant information for the underwriting process.
This allows Tesla to complete this process entirely online without a dealership in about 2 minutes. If you've ever bought a car traditionally, applied for a loan, or even linked bank accounts into a budgeting app, this is an incredible UX win for the user. Shocking, even.