Finance Application Process

Financing your Tesla can be done in a few simple steps online:

1. Select your payment method

We aim to provide simple, transparent and compelling financing options for business and private use. For Tesla arranged options, we will work with our partners to find you the best rates and assist with the paperwork.

You can select your payment method when placing your order, or at any other point, in your Tesla Account.

Cash
Self-Arranged Financing
Tesla Partner Financing
Self-Arranged Lease

Payment Options

Hire Purchase

Hire Purchase provides the benefits of ownership and unlimited mileage. The minimum down payment could be as low as £0. Once you take delivery, your financing contract starts and you will pay regular monthly payments, for a term between 24 and 60 months—at a fixed interest rate. At the end of the finance term, the vehicle will be paid off in full and owned by you entirely.

Contract Purchase

Contract Purchase provides flexibility at the end of the finance term, by deferring a significant portion of the credit amount to a final payment. Before taking delivery of your vehicle, you will be asked to pay your chosen down payment, between 10%-30% of the vehicle purchase price. Once you take delivery, your financing contract starts and you will pay regular monthly payments, for a term between 24 and 48 months—at a fixed interest rate. The last payment will be a guaranteed future value determined by the selected term and mileage. Contract Purchase financing is available from 24 to 48 months and from 10,000 to 24,000 miles per year.

At the end of the finance term you will have the option to:

Purchase the vehicle for the guaranteed future value
Re-finance the guaranteed future value to take full ownership
Trade-in the vehicle and use any equity as a deposit towards a new Tesla
Return the vehicle back to Tesla

See our Payment Method FAQs

2. Submit your application

Submit a credit application prior to placing your order in the Design Studio or after placing your order in your Tesla Account. You will then be redirected to our preferred partner’s portal, where you can submit a credit application at any time.

See our Credit Applications FAQs

3. Approved

After submitting your credit application, our preferred financing partners aim to have a credit decision ready for you as soon as possible. If they may require additional information, Tesla will reach out to you directly. Once an application has been approved*, your financing will be ready to go, and you can proceed with taking delivery of your Model S, Model X, Model 3 or Model Y.

*Subject to the credit decision of our third party partner.

4. Finalise your financing

When the delivery date of your Tesla is approaches, we will contact you to with next steps to complete your payment.

Frequently Asked Questions - Payment Options

Yes, when designing your Model S, Model X, Model 3 or Model Y in our Design Studio, an estimated payment will appear in a black panel at the bottom of the page. Press the estimated payment and choose your preferred financing option in the pop-up. Next, select Apply for Financing to be redirected to the partner’s portal where you can select your preferred term and down payment to to receive a personalised quote via e-mail.

Frequently Asked Questions - Credit Applications

You can apply for financing in our Design Studio or in your Tesla Account. To apply for financing in our Design Studio, select the estimated payment and click ‘Apply for Financing’ under your preferred financing option. To apply for financing in your Tesla Account, go to Payment Options, select Tesla Arranged Financing and click on your preferred financing partner to be redirected to an application page..