Tesla Financial Services

  1. Contract Purchase
  2. Contract Hire
  3. Tesla Loan
  4. Hire Purchase


Contract Purchase


Contract Purchase, also known as a PCP, allows you to keep your monthly payments lower by deferring a significant proportion of the cost to an optional final payment at the end of the agreement.

The Agreement

  1. Down payment. Flexible, starting as low as 0%.
  2. Monthly payments. Set over a fixed term of 24 to 48 months.
  3. Annual milage. Your expected travel on a yearly basis.
  4. Optional final payment. Our prediction of guaranteed minimum future value.

End of the Term
At the end of the agreement term, you have three options:

  1. Return the car to Tesla. No further payment is required if the car is in good condition and has not exceeded the maximum agreed mileage. A charge for excess mileage applies. Learn more about end of term inspection here.
  2. Part exchange. Exchange your car for a newer configuration. Subject to settlement of your existing finance agreement and your credit approval.
  3. Outright purchase. Complete the optional final payment including interest.

Transfer of Ownership
The finance provider will hold ownership of the car during the agreement. If the optional final payment is paid at the end of the agreement, ownership of the car transfers to you.

Contract Hire


Contract Hire is a flexible finance solution. The amount financed is the difference between the initial purchase price of the new car and the residual value of the car at the end of the agreement. Essentially, Contract Hire allows for rental payments for the use of the car.

The Agreement

  1. Monthly payments. Set over a fixed term of 36 to 48 months.
  2. Annual milage. Your expected travel on a yearly basis.

End of the Term
At the end of the agreement term, you have two options:

  1. Return the car to Tesla. No further payment is required if the car is in good condition and has not exceeded the maximum agreed mileage. A charge for excess mileage applies. Learn more about end of term inspection here.
  2. New Contract Hire agreement. Exchange your car for a newer configuration and enter into a new Contract Hire agreement. Subject to settlement of your existing finance agreement and your credit approval.

Transfer of Ownership
Tesla Financial Services will hold ownership of the car during and after the agreement.

Tesla Loan


Tesla Loan is a Conditional Sale agreement that provides the benefits of ownership and unlimited mileage. Before taking delivery of your car, you will be asked to pay your chosen down payment, between 0% to 50% of the purchase price. Once you take delivery, your financing contract starts and you will pay regular monthly payments, for a term between 24 and 72 months—at a fixed interest rate. At the end of the finance term, the car will be paid off in full and owned by you entirely.

The Agreement

  1. Down payment. Flexible, starting as low as 0%.
  2. Monthly payments. Set over a fixed term of 24 to 72 months.

End of the Term
At the end of the agreement term, you have two options:

  1. Part exchange. Exchange your car for a newer configuration. Subject to settlement of your existing finance agreement and your credit approval.
  2. Outright purchase. Complete the final repayment including interest.

Transfer of Ownership
Tesla Financial Services will hold ownership of the car during the agreement. Once the final repayment has been paid at the end of the agreement, ownership of the car transfers to you.

Hire Purchase


Hire Purchase provides the benefits of ownership and unlimited mileage. Before taking delivery of your vehicle, you will be asked to pay your chosen down payment, between 10% to 80% 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 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.

The Agreement

  1. Down payment. Flexible, starting as low as 0%.
  2. Monthly payments. Set over a fixed term of 24 to 60 months.

End of the Term
At the end of the agreement term, you have two options:

  1. Part exchange. Exchange your car for a newer configuration. Subject to settlement of your existing finance agreement and your credit approval.
  2. Outright purchase. Complete the final repayment including interest.

Transfer of Ownership
Black Horse Limited will hold ownership of the car during the agreement. Once all repayments and the option to purchase fee is paid at the end of the agreement, ownership of the car transfers to you.


Disclaimer: You are protected under the Consumer Credit Act 1974 and the Consumer Rights Act 2015. You must have fully comprehensive insurance to enter into an agreement. Your vehicle is at risk of repossession if you do not maintain the contractual repayments.


Ownerhip at the end of the agreement Mileage restriction Terminate early Fixed monthly payment Optional final payment
PCP Yes Yes Yes Yes Yes
Contract Hire No Yes No Yes No
Tesla Loan Yes No Yes Yes No
Hire Purchase Yes No Yes Yes No

For more information, please visit our Tesla Financial Services FAQ.

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