diff --git a/src/cargo/sources/git/source.rs b/src/cargo/sources/git/source.rs
index 2459b87b99d..d6dbe03e4c0 100644
--- a/src/cargo/sources/git/source.rs
+++ b/src/cargo/sources/git/source.rs
@@ -6,6 +6,7 @@ use crate::core::global_cache_tracker;
 use crate::core::{Dependency, Package, PackageId};
 use crate::sources::IndexSummary;
 use crate::sources::RecursivePathSource;
+use crate::sources::git::utils::GitDatabase;
 use crate::sources::git::utils::GitRemote;
 use crate::sources::git::utils::rev_to_oid;
 use crate::sources::source::MaybePackage;
@@ -155,6 +156,71 @@ impl<'gctx> GitSource<'gctx> {
             });
         Ok(())
     }
+
+    /// Fetch and return a [`GitDatabase`] with the resolved revision
+    /// for this source,
+    ///
+    /// This won't fetch anything if the required revision is
+    /// already available locally.
+    pub(crate) fn fetch_db(&self, is_submodule: bool) -> CargoResult<(GitDatabase, git2::Oid)> {
+        let db_path = self.gctx.git_db_path().join(&self.ident);
+        let db_path = db_path.into_path_unlocked();
+
+        let db = self.remote.db_at(&db_path).ok();
+
+        let (db, actual_rev) = match (&self.locked_rev, db) {
+            // If we have a locked revision, and we have a preexisting database
+            // which has that revision, then no update needs to happen.
+            (Revision::Locked(oid), Some(db)) if db.contains(*oid) => (db, *oid),
+
+            // If we're in offline mode, we're not locked, and we have a
+            // database, then try to resolve our reference with the preexisting
+            // repository.
+            (Revision::Deferred(git_ref), Some(db)) if !self.gctx.network_allowed() => {
+                let offline_flag = self
+                    .gctx
+                    .offline_flag()
+                    .expect("always present when `!network_allowed`");
+                let rev = db.resolve(&git_ref).with_context(|| {
+                    format!(
+                        "failed to lookup reference in preexisting repository, and \
+                         can't check for updates in offline mode ({offline_flag})"
+                    )
+                })?;
+                (db, rev)
+            }
+
+            // ... otherwise we use this state to update the git database. Note
+            // that we still check for being offline here, for example in the
+            // situation that we have a locked revision but the database
+            // doesn't have it.
+            (locked_rev, db) => {
+                if let Some(offline_flag) = self.gctx.offline_flag() {
+                    anyhow::bail!(
+                        "can't checkout from '{}': you are in the offline mode ({offline_flag})",
+                        self.remote.url()
+                    );
+                }
+
+                if !self.quiet {
+                    let scope = if is_submodule {
+                        "submodule"
+                    } else {
+                        "repository"
+                    };
+                    self.gctx
+                        .shell()
+                        .status("Updating", format!("git {scope} `{}`", self.remote.url()))?;
+                }
+
+                trace!("updating git source `{:?}`", self.remote);
+
+                let locked_rev = locked_rev.clone().into();
+                self.remote.checkout(&db_path, db, &locked_rev, self.gctx)?
+            }
+        };
+        Ok((db, actual_rev))
+    }
 }
 
 /// Indicates a [Git revision] that might be locked or deferred to be resolved.
@@ -286,58 +352,7 @@ impl<'gctx> Source for GitSource<'gctx> {
         // exists.
         exclude_from_backups_and_indexing(&git_path);
 
-        let db_path = self.gctx.git_db_path().join(&self.ident);
-        let db_path = db_path.into_path_unlocked();
-
-        let db = self.remote.db_at(&db_path).ok();
-
-        let (db, actual_rev) = match (&self.locked_rev, db) {
-            // If we have a locked revision, and we have a preexisting database
-            // which has that revision, then no update needs to happen.
-            (Revision::Locked(oid), Some(db)) if db.contains(*oid) => (db, *oid),
-
-            // If we're in offline mode, we're not locked, and we have a
-            // database, then try to resolve our reference with the preexisting
-            // repository.
-            (Revision::Deferred(git_ref), Some(db)) if !self.gctx.network_allowed() => {
-                let offline_flag = self
-                    .gctx
-                    .offline_flag()
-                    .expect("always present when `!network_allowed`");
-                let rev = db.resolve(&git_ref).with_context(|| {
-                    format!(
-                        "failed to lookup reference in preexisting repository, and \
-                         can't check for updates in offline mode ({offline_flag})"
-                    )
-                })?;
-                (db, rev)
-            }
-
-            // ... otherwise we use this state to update the git database. Note
-            // that we still check for being offline here, for example in the
-            // situation that we have a locked revision but the database
-            // doesn't have it.
-            (locked_rev, db) => {
-                if let Some(offline_flag) = self.gctx.offline_flag() {
-                    anyhow::bail!(
-                        "can't checkout from '{}': you are in the offline mode ({offline_flag})",
-                        self.remote.url()
-                    );
-                }
-
-                if !self.quiet {
-                    self.gctx.shell().status(
-                        "Updating",
-                        format!("git repository `{}`", self.remote.url()),
-                    )?;
-                }
-
-                trace!("updating git source `{:?}`", self.remote);
-
-                let locked_rev = locked_rev.clone().into();
-                self.remote.checkout(&db_path, db, &locked_rev, self.gctx)?
-            }
-        };
+        let (db, actual_rev) = self.fetch_db(false)?;
 
         // Don’t use the full hash, in order to contribute less to reaching the
         // path length limit on Windows. See
@@ -353,7 +368,7 @@ impl<'gctx> Source for GitSource<'gctx> {
             .join(&self.ident)
             .join(short_id.as_str());
         let checkout_path = checkout_path.into_path_unlocked();
-        db.copy_to(actual_rev, &checkout_path, self.gctx)?;
+        db.copy_to(actual_rev, &checkout_path, self.gctx, self.quiet)?;
 
         let source_id = self
             .source_id
diff --git a/src/cargo/sources/git/utils.rs b/src/cargo/sources/git/utils.rs
index fa5438a9909..74bd59555b0 100644
--- a/src/cargo/sources/git/utils.rs
+++ b/src/cargo/sources/git/utils.rs
@@ -1,10 +1,12 @@
 //! Utilities for handling git repositories, mainly around
 //! authentication/cloning.
 
-use crate::core::{GitReference, Verbosity};
+use crate::core::{GitReference, SourceId, Verbosity};
 use crate::sources::git::fetch::RemoteKind;
 use crate::sources::git::oxide;
 use crate::sources::git::oxide::cargo_config_to_gitoxide_overrides;
+use crate::sources::git::source::GitSource;
+use crate::sources::source::Source as _;
 use crate::util::HumanBytes;
 use crate::util::errors::{CargoResult, GitCliError};
 use crate::util::{GlobalContext, IntoUrl, MetricsCounter, Progress, network};
@@ -169,6 +171,7 @@ impl GitDatabase {
         rev: git2::Oid,
         dest: &Path,
         gctx: &GlobalContext,
+        quiet: bool,
     ) -> CargoResult<GitCheckout<'_>> {
         // If the existing checkout exists, and it is fresh, use it.
         // A non-fresh checkout can happen if the checkout operation was
@@ -182,7 +185,7 @@ impl GitDatabase {
             Some(co) => co,
             None => {
                 let (checkout, guard) = GitCheckout::clone_into(dest, self, rev, gctx)?;
-                checkout.update_submodules(gctx)?;
+                checkout.update_submodules(gctx, quiet)?;
                 guard.mark_ok()?;
                 checkout
             }
@@ -384,24 +387,27 @@ impl<'a> GitCheckout<'a> {
     /// Submodules set to `none` won't be fetched.
     ///
     /// [^1]: <https://git-scm.com/docs/git-submodule#Documentation/git-submodule.txt-none>
-    fn update_submodules(&self, gctx: &GlobalContext) -> CargoResult<()> {
-        return update_submodules(&self.repo, gctx, self.remote_url().as_str());
+    fn update_submodules(&self, gctx: &GlobalContext, quiet: bool) -> CargoResult<()> {
+        return update_submodules(&self.repo, gctx, quiet, self.remote_url().as_str());
 
         /// Recursive helper for [`GitCheckout::update_submodules`].
         fn update_submodules(
             repo: &git2::Repository,
             gctx: &GlobalContext,
+            quiet: bool,
             parent_remote_url: &str,
         ) -> CargoResult<()> {
             debug!("update submodules for: {:?}", repo.workdir().unwrap());
 
             for mut child in repo.submodules()? {
-                update_submodule(repo, &mut child, gctx, parent_remote_url).with_context(|| {
-                    format!(
-                        "failed to update submodule `{}`",
-                        child.name().unwrap_or("")
-                    )
-                })?;
+                update_submodule(repo, &mut child, gctx, quiet, parent_remote_url).with_context(
+                    || {
+                        format!(
+                            "failed to update submodule `{}`",
+                            child.name().unwrap_or("")
+                        )
+                    },
+                )?;
             }
             Ok(())
         }
@@ -411,6 +417,7 @@ impl<'a> GitCheckout<'a> {
             parent: &git2::Repository,
             child: &mut git2::Submodule<'_>,
             gctx: &GlobalContext,
+            quiet: bool,
             parent_remote_url: &str,
         ) -> CargoResult<()> {
             child.init(false)?;
@@ -447,10 +454,10 @@ impl<'a> GitCheckout<'a> {
                 let target = repo.head()?.target();
                 Ok((target, repo))
             });
-            let mut repo = match head_and_repo {
+            let repo = match head_and_repo {
                 Ok((head, repo)) => {
                     if child.head_id() == head {
-                        return update_submodules(&repo, gctx, &child_remote_url);
+                        return update_submodules(&repo, gctx, quiet, &child_remote_url);
                     }
                     repo
                 }
@@ -460,25 +467,23 @@ impl<'a> GitCheckout<'a> {
                     init(&path, false)?
                 }
             };
-            // Fetch data from origin and reset to the head commit
+            // Fetch submodule database and checkout to target revision
             let reference = GitReference::Rev(head.to_string());
-            gctx.shell()
-                .status("Updating", format!("git submodule `{child_remote_url}`"))?;
-            fetch(
-                &mut repo,
-                &child_remote_url,
-                &reference,
-                gctx,
-                RemoteKind::GitDependency,
-            )
-            .with_context(|| {
+
+            // GitSource created from SourceId without git precise will result to
+            // locked_rev being Deferred and fetch_db always try to fetch if online
+            let source_id = SourceId::for_git(&child_remote_url.into_url()?, reference)?
+                .with_git_precise(Some(head.to_string()));
+
+            let mut source = GitSource::new(source_id, gctx)?;
+            source.set_quiet(quiet);
+
+            let (db, actual_rev) = source.fetch_db(true).with_context(|| {
                 let name = child.name().unwrap_or("");
                 format!("failed to fetch submodule `{name}` from {child_remote_url}",)
             })?;
-
-            let obj = repo.find_object(head, None)?;
-            reset(&repo, &obj, gctx)?;
-            update_submodules(&repo, gctx, &child_remote_url)
+            db.copy_to(actual_rev, repo.path(), gctx, quiet)?;
+            Ok(())
         }
     }
 }
diff --git a/tests/testsuite/git.rs b/tests/testsuite/git.rs
index 502a709d530..a32ffacdff1 100644
--- a/tests/testsuite/git.rs
+++ b/tests/testsuite/git.rs
@@ -919,6 +919,12 @@ fn dep_with_submodule() {
 
 "#]])
         .run();
+
+    let db_paths = glob::glob(paths::cargo_home().join("git/db/dep2-*").to_str().unwrap())
+        .unwrap()
+        .map(Result::unwrap)
+        .collect::<Vec<_>>();
+    assert_eq!(db_paths.len(), 1, "submodule db created once");
 }
 
 #[cargo_test]
@@ -989,6 +995,17 @@ fn dep_with_relative_submodule() {
 
 "#]])
         .run();
+
+    let db_paths = glob::glob(
+        paths::cargo_home()
+            .join("git/db/deployment-*")
+            .to_str()
+            .unwrap(),
+    )
+    .unwrap()
+    .map(Result::unwrap)
+    .collect::<Vec<_>>();
+    assert_eq!(db_paths.len(), 1, "submodule db created once");
 }
 
 #[cargo_test]
@@ -1060,7 +1077,10 @@ Caused by:
   failed to update submodule `src`
 
 Caused by:
-  object not found - no match for id ([..]); class=Odb (9); code=NotFound (-3)
+  failed to fetch submodule `src` from [ROOTURL]/dep2
+
+Caused by:
+  revspec '[..]' not found; class=Reference (4); code=NotFound (-3)
 
 "#]];
 
@@ -1518,6 +1538,12 @@ project2
 "#]])
         .run();
 
+    let db_paths = glob::glob(paths::cargo_home().join("git/db/dep2-*").to_str().unwrap())
+        .unwrap()
+        .map(Result::unwrap)
+        .collect::<Vec<_>>();
+    assert_eq!(db_paths.len(), 1, "submodule db created once");
+
     git_project.change_file(
         ".gitmodules",
         &format!(
@@ -1560,6 +1586,12 @@ project2
 "#]])
         .run();
 
+    let db_paths = glob::glob(paths::cargo_home().join("git/db/dep3-*").to_str().unwrap())
+        .unwrap()
+        .map(Result::unwrap)
+        .collect::<Vec<_>>();
+    assert_eq!(db_paths.len(), 1, "submodule db created once");
+
     println!("last run");
     p.cargo("run")
         .with_stderr_data(str![[r#"
@@ -4269,3 +4301,78 @@ src/main.rs
 "#]])
         .run();
 }
+
+#[cargo_test]
+fn dep_with_cached_submodule() {
+    let project = project();
+    let git_project = git::new("dep1", |project| {
+        project.file("Cargo.toml", &basic_manifest("dep1", "0.5.0"))
+    });
+    let git_project2 = git::new("dep2", |project| {
+        project.file("Cargo.toml", &basic_manifest("dep2", "0.5.0"))
+    });
+    let git_project3 = git::new("dep3", |project| project.file("lib.rs", "pub fn dep() {}"));
+
+    let url = git_project3.root().to_url().to_string();
+
+    let repo = git2::Repository::open(&git_project.root()).unwrap();
+    git::add_submodule(&repo, &url, Path::new("src"));
+    git::commit(&repo);
+
+    let repo2 = git2::Repository::open(&git_project2.root()).unwrap();
+    git::add_submodule(&repo2, &url, Path::new("src"));
+    git::commit(&repo2);
+
+    let project = project
+        .file(
+            "Cargo.toml",
+            &format!(
+                r#"
+                    [package]
+
+                    name = "foo"
+                    version = "0.5.0"
+                    edition = "2015"
+                    authors = ["wycats@example.com"]
+
+                    [dependencies.dep1]
+                    git = '{}'
+
+                    [dependencies.dep2]
+                    git = '{}'
+
+                "#,
+                git_project.url(),
+                git_project2.url(),
+            ),
+        )
+        .file(
+            "src/lib.rs",
+            r#"
+                extern crate dep1; pub fn foo() { dep1::dep() }
+                extern crate dep2; pub fn bar() { dep2::dep() }
+            "#,
+        )
+        .build();
+
+    project
+        .cargo("check")
+        .with_stderr_data(str![[r#"
+[UPDATING] git repository `[ROOTURL]/dep1`
+[UPDATING] git submodule `[ROOTURL]/dep3`
+[UPDATING] git repository `[ROOTURL]/dep2`
+[LOCKING] 2 packages to latest compatible versions
+[CHECKING] dep[..] v0.5.0 ([ROOTURL]/dep[..]#[..])
+[CHECKING] dep[..] v0.5.0 ([ROOTURL]/dep[..]#[..])
+[CHECKING] foo v0.5.0 ([ROOT]/foo)
+[FINISHED] `dev` profile [unoptimized + debuginfo] target(s) in [ELAPSED]s
+
+"#]])
+        .run();
+
+    let db_paths = glob::glob(paths::cargo_home().join("git/db/dep3-*").to_str().unwrap())
+        .unwrap()
+        .map(Result::unwrap)
+        .collect::<Vec<_>>();
+    assert_eq!(db_paths.len(), 1, "submodule db created once");
+}