Tesla Financing FAQ
What is Tesla Financing?
Tesla is partnering with ORIX and Fusion Bank to provide Tesla car owners a comprehensive financing product. ORIX combines a low fixed rate with no setup or monthly account keeping fees for both personal and commercial approved applicants.
Fusion Bank provides a low-interest unsecured loan exclusively for Tesla car purchasers, where you can complete the whole loan application process on the Fusion Bank App, and get speedy approval of your loan application with just a few steps.
How do I apply for Tesla Financing?
You can apply for Tesla Financing via your Tesla Account after placing your Tesla order. To progress your application efficiently, you may be asked by ORIX to provide supporting documents.
If you plan to apply for a loan from Fusion Bank, you have to successfully open a Fusion Bank account, then click on the promotional banner on the homepage on the Fusion Bank App to apply for the Tesla Exclusive Loan. For details, refer to the Fusion Bank Website here.
When do I apply for Tesla Financing?
We recommend you commence your Tesla Finance application as early as possible via your Tesla Account to ensure ample time to provide approval documentation. ORIX can hold approvals for up to 60 days from application.
For Fusion Bank, please note that if the approved credit limit is not accepted, the approved credit limit will be cancelled after 30 days.
What products are available via Tesla Financing?
ORIX offers a range of products to support both individual and corporate applications. Please refer to a brief overview of each product below. To understand more and which products are available to you, ORIX can support upon application.
Tesla Value Loan Program (TVLP)
A program built specifically for Tesla owners offering reduced monthly payments over a three year commitment. With a competitive rate and no hidden fees, you have complete flexibility at the end of the term. You may also finance the first year of your InsureMyTesla premium.
Maximum finance ratio up to 100% of your Tesla at a competitive interest rate, with regular monthly payments and a flexible term up to 5 years. You may also finance the first year of your InsureMyTesla premium.
No additional down-payment required. Finance your Tesla at a competitive interest rate, with regular monthly payments and a flexible term up to 5 years. You may also finance the first year of your InsureMyTesla premium.
Fusion Bank provides you with the Tesla Exclusive Loan, the whole application process from application until loan disbursement can be completed on the Fusion Bank App. Tesla Exclusive Loan is an unsecured loan product, the interest is only calculated on your outstanding balance on a daily basis, while there are absolutely no fees to minimize your costs. You only need to pay in monthly installments with no prepayment; early repayment can be made anytime without any fee, thus, providing you with a better financing plan. For details, please refer to the Fusion Bank Website here.
Tesla's approved financiers offer competitive consumer and commercial finance with no additional fees or charges.
Applicable to new and inventory vehicles only.