Tesla offers the ability to purchase your vehicle over time by securing a loan with a Tesla financier.
Start your order and design your Tesla vehicle, then select ‘Loan’ as a payment method.
The Tesla financing calculator is available to help you determine the right payment option. Tesla lending is not available in all provinces and additional taxes and fees may apply. These estimated payments are not guaranteed and are subject to credit approval.
After placing an order, sign in to your Tesla Account to review and confirm your delivery, registration and trade-in details.
To qualify for Tesla lending, you must take delivery in one of the following provinces: AB, BC, NS, ON, QC, SK.
Submit a Credit Application
- In the ‘Payment Method’ section of your Tesla Account, view the financing options available to you by selecting ‘Finance.’
- Select ‘Loan.’
To finance with Tesla:
Select ‘Tesla’ as your financier and confirm the amount to finance and your preferred monthly payment and loan term. Review the price details to continue your application. Complete your application by submitting your social insurance number (optional), phone number and residence and employment information.
- We will review your credit application upon submission. If your information changes or your credit approval expires, you can resubmit your credit application by following the same steps above.
- You will be notified of the credit decision within the ‘Payment Method’ section of your Tesla Account.
If you are approved, you can accept the financing offer in your Tesla Account and a Tesla Advisor will reach out to you with next steps to take delivery of your Tesla vehicle. In the event that your credit application is denied, we will contact you within one business day of the decision to discuss next steps.
Note: You must be over the age of 18 and have a social insurance number to submit a credit application.
Your Loan Agreement will be available for review in your Tesla Account at least 24 hours prior to your delivery appointment. All loan paperwork will be executed at delivery of your Tesla. All credit applicants must be present and proof of insurance must be provided when you take delivery.
The amount and due date of your payments is outlined in your Loan Agreement.
You will receive a welcome packet a couple weeks after delivery from your lender. Your monthly automatic payments will be set up when signing your finance paperwork. The mailer may be undisclosed and may be easily mistaken as junk mail. Your first payment is due 30 days from the delivery date and your monthly payment will be due on that same day each month going forward. Payment must be made to the lender from your Loan Agreement.
There are no prepayment penalties associated with Tesla financing and our partners. Contact your lender directly for payoff details and instructions for remittance.
Contact your lender directly if you’re having trouble making payments. Your finance contract outlines the name of your lender.
- Royal Bank of Canada: (800) 769-2511
- Scotiabank: (844) 320-6431
- Bank of Montreal: (844) 837-9228