Financing Your Vehicle

Tesla offers the ability to purchase your vehicle by financing with a Tesla financier or customers can use a third-party financier.

Getting Started

Start your order and design your Tesla vehicle.

The Tesla financing calculator is available in the Design Studio to help you determine the right payment option. Tesla Financing is not available in all states 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 Financing, you must take delivery in one of the following states: AZ, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, MA, MD, MI, MN, MO, MS, NV, NJ, NM, NY, NC, OH, OR, PA, RI, TN, TX, UT, VA, WA.

Submit a Credit Application

In the ‘Payment Method’ section of your Tesla Account, view the financing options available to you by selecting ‘Finance.’
To finance with Tesla:

Select ‘Tesla’ as your financier and confirm the amount to finance and your preferred monthly payment and financing term. Review the price details to continue your application. Complete your application by submitting your social security number, phone number and residence and employment information.

To finance with a third-party financier:

Review the amount due and provide your financier’s information and the amount you’d like to finance. As your delivery date approaches, we will prompt you to confirm your lienholder’s information and provide payment or proof of payment for the amount due. Learn more about financing with a third-party financier.
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 security number to submit a credit application. At this time, business-only, trust and commercial financing options are not available.

Taking Delivery

Your Retail Installment Contract will be available for signature in the ‘Payment Method’ section of your Tesla Account at least 24 hours prior to your delivery appointment. If you are financing with Tesla, you must e-sign any required documents in your Tesla Account. All credit applicants must be present and proof of insurance must be provided when you take delivery.

Note: Texas and Michigan customers are required to submit final payment prior to scheduling their delivery appointment due to state restrictions.

Making Payments

The amount and due date of your payments is outlined in your Retail Installment Contract. You can find a copy of your Retail Installment Contract in the ‘Documents’ section of your Tesla Account along with other documents.

You will receive a welcome packet and the first invoice from your financier in the mail with payment information around two to three weeks after taking delivery. The mailer may be undisclosed and may be easily mistaken as junk mail. Your first payment is due 30 or 45 days from the delivery date depending on your financier, and your monthly payment will be due on that same day each month going forward. If you are financing with Tesla Finance LLC, you can make your monthly payment directly from the Tesla app or your Tesla Account. If you are financing with one of Tesla’s indirect partners, the payment must be made to the financier from your Retail Installment Contract.

Finance Payoff

There are no prepayment penalties associated with Tesla financing and our partners. Contact your financier directly for payoff details and instructions for remittance.

Hardship, Delinquency and Additional Support

Contact your financier directly if you’re having trouble making payments. Your finance contract outlines the name of your financier. You can find a copy of your contract in the ‘Documents’ section of your Tesla Account along with other documents.

Ally Customer Service: (888) 925-2559
BMO Customer Service: (888) 340-2265
Capital One Customer Service: (800) 946-0332
Chase Customer Service: (800) 336-6675
PNC Bank Customer Service: (888) 762-2265
Santander Customer Service: (888) 222-4227
TD Bank Customer Service: (800) 556-8172
U.S. Bank Customer Service: (800) 872-2657
Wells Fargo Customer Service: (800) 289-8004
Tesla Finance Customer Service: (844) 837-5285 (Option 1)

Frequently Asked Questions

Frequently Asked Questions Show All Hide All

You can apply any time after you place your vehicle order. The credit approvals are valid up to 60 days depending on the financier. If your delivery date falls after your credit application expires, you may need to start a new application.
Tesla Financing is available for applicants in the following states: AZ, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, MA, MD, MI, MN, MO, NV, NJ, NM, NY, NC, OH, OR, PA, RI, TN, TX, UT, VA, WA.

The names on the credit application must match the names of the vehicle registration and those listed must take delivery of the vehicle. For applications supported by a small business, the credit report of the individual applicant will be used to assess the application. Unfortunately, business-only, trust and commercial finance applications are not accepted at this time.
At least one hard pull of your credit report is required; however, for some applicants, additional inquiries may be needed as we work to find you the best credit offer possible.
Tesla offers pre-qualification for financing. Once you design a vehicle, you will be able to apply for a pre-qualification. Pre-qualification is optional and uses a soft inquiry on your personal credit report to assess your credit worthiness. Soft inquiries do not affect your credit score. The result is not an approval or denial of credit, nor a guarantee for financing. A credit application using a hard credit pull will still be required to finance your vehicle purchase through Tesla.
Currently, our financing partners do not offer financing options for vehicles that will be used for ridesharing or rental purposes. We recommend checking with your local financial institution or third-party financier.
You can choose to secure financing for your vehicle outside of Tesla. If you do, you’ll need to follow these steps:

Obtain financing approval. As your delivery date approaches, we will prompt you to apply for financing. Approvals are typically valid for 30-60 days depending on your lienholder’s policy.

Enter lienholder details. Once you have credit approval, we will ask you to confirm your lienholder information and financed amount. Your financial institution will provide a lienholder address; this is not necessarily your local branch address.

Coordinate final payment. We will provide a signed Motor Vehicle Purchase Agreement (MVPA) to you closer to your delivery appointment. You are responsible for securing and submitting the amount financed and any balance due prior to delivery. If you are mailing your payment, you may be asked to provide proof of payment. If asked, submit a picture of the front of the check along with the tracking number in your Tesla Account.

Delivery cannot take place until we receive the funding in full.
We recommend you lift all credit freezes you currently have in place with all credit bureaus. It is best to unlock your credit file prior to submitting your credit application to avoid any delays.
You will need to contact each credit bureau directly.

Transunion: 888-909-8872

Experian: 888-397-3742

Equifax: 888-298-0045

We suggest lifting all credit freezes for at least seven days. However, if a credit approval expires prior to the vehicle delivery date, credit freezes may need to be lifted again if a new application is required.
Many credit decisions are available within a few minutes, with most available within 48 hours. However, some may occasionally take longer due to unforeseen circumstances.

You can check the status of your application in the ‘Payment Method’ section of your Tesla Account. Once a credit decision has been made, you’ll be notified in your account. Leasing decisions are valid for 60 days.