Tesla Lending

Tesla offers the ability to purchase your vehicle over time by securing a loan with either a third-party lender or a Tesla financier. Learn more about finding details and payment options of your loan.

Getting Started

Design your Tesla and select ‘Loan’ as a payment method to place an order of your vehicle.

The Tesla financing calculator is available to help you determine the right payment option. Please note that Tesla lending 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.

Financing With a Loan

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 states: AZ, CA, CO, FL, GA, HI, ID, IL, IN, MA, MD, MN, MO, MS, NV, NJ, NY, NC, OH, OR, PA, RI, TN, TX, UT, VA, WA.

Submit a Credit Application

Once 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. In the event that your credit application is denied, a member of the Tesla team will contact you within one business day of the decision to discuss next steps.

Taking Delivery

Your Loan Agreement 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 at time of delivery. Learn more about what to expect for taking 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 Loan Agreement. You can find a copy of your Loan Agreement in the ‘Glovebox’ section of your Tesla Account along with other documents.

You will receive a welcome packet and the first invoice from your lender in the mail with payment information around two to three weeks after taking delivery. Please note that 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 lender and your monthly payment will be due on that same date going forward each month. If your loan is financed with Tesla Finance LLC, you can make your monthly payment directly from the Tesla app or your Tesla Account. If your loan is financed with one of Tesla’s indirect partners, the payment must be made to the lender from your Loan Agreement.

Finance Payoff

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

Hardship, Delinquency and Additional Support

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

Frequently Asked Questions

When should I start the credit application?
You can apply any time after you place your vehicle order. The credit approvals are valid to up to 60 days depending on the lender. If your delivery date falls after your credit application expires, you may need to start a new application.

Who can apply?
Tesla lending is available for applicants in the following states: AZ, CA, CO, FL, GA, HI, ID, IL, IN, MA, MD, MN, MO, NV, NJ, NY, NC, OH, OR, PA, RI, TN, TX, UT, VA, WA.

The name on the credit application must match the name of the vehicle registration and this person 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.

Are there fees to submitting a credit application?
No. There are no lender or application fees to apply for lending.

Will there be a hard pull of my credit?
At least one hard pull of your credit report is required; however, for some applicants, additional inquiries may be needed as Tesla works to find you the best credit offer possible.

Can I get pre-approved for financing before I configure and order a vehicle?
Tesla does not currently offer a credit pre-approval process. You may, however, seek pre-approval through your own bank. Otherwise, you’ll be able to submit a credit application in your Tesla Account once your vehicle order is placed.

How do I finance my vehicle with a third-party?
You can choose to secure financing for your vehicle purchase outside of Tesla. If you do, you’ll need to follow these steps:

Delivery cannot take place until Tesla receives funding in full.

Do I need to unfreeze or unlock my credit?
Tesla recommends 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.

How do I unfreeze my credit?
You will need to contact each credit bureau directly.

Tesla suggests lifting all credit freezes for at least seven days. Please keep in mind however that 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.

How long do credit decisions take? How can I check the status of my application?
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 90 days.