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Since Tesla doesn’t work with dealerships, you won’t have to worry about an interest rate markup if you decide to finance directly with the company. But you might still want to compare your other car loan options from third-party lenders to ensure you’re getting the best deal available to you.
How can I finance a Tesla?
If you’re looking to finance a car directly through Tesla’s in-house financing division, you won’t have to worry about dealership markup since it’s a direct-to-consumer car brand. You actually have to order your car on Tesla’s website before you can even apply for financing. Then within one month of your car’s delivery date, you can fill out a Tesla Financing application through your online account.
Since you have to wait anyway, you might want to take the time to compare car loans from banks, credit unions and online lenders as well. Prequalifying with a few different lenders can help you find the most competitive rate available to you. Tesla Financing may even be willing to beat the lowest rate you qualify for with a third-party lender.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
A new Tesla will cost upwards of $35,000 — although you can expect to pay over double that for the Model S and Model X. How much you ultimately pay will depend on the model and trim you select, as well as any upgrades you want to include.
Yes, all new Teslas are protected under a four-year, 50,000-mile limited warranty. However, the Battery and Drive Unit will have different coverage depending on your model.
Model S and Model X — covered for 8 years
Model 3 — covered for 8 years or 100,000 miles, whichever comes first
Model 3 with long-range battery — covered for 8 years or 120,000 miles, whichever comes first
Used vehicles don’t have their own warranty, but the original vehicle warranty may still be in place. You can also purchase an extended warranty that covers your Tesla for two years or 100,000 miles — whichever comes first.
Bottom line
With the cheapest Tesla ringing in at around $35,000, getting behind the wheel of this electric car brand isn’t as expensive as you might have thought. Applying for financing through Tesla Financing and a few other third-party lenders can help you find the most competitive deal out there.
Not sure what type of Tesla you want? Check out our guide to buying a Tesla to compare models, customization packages and more.
Frequently asked questions
You can visit one of Tesla’s many showrooms located across the US. To get started, schedule a test-drive on Tesla’s website by entering your contact information, selecting your model and requesting an appointment time.
No, Tesla doesn’t currently offer any discounts or programs for its models.
Yes, you may be eligible for the federal tax credit — up to $7,500. Some states also offer a state-based tax credit that you could take advantage of when you purchase a Tesla.
Yes, there are a few electric car alternatives to Tesla available, including the BMW i3 and Chevy Bolt. But they can still be expensive — and the Tesla Model 3 comes in at a comparable price point.
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Kellye Guinan is a freelance editor and writer, specializing in consumer lending. Her writing and analysis has been featured on Bankrate, MSN and MediaFeed. She holds degrees in anthropology and German language and literature from Middle Tennessee State University.
If you’re in the market for a car don’t miss out on this guide to buy a car, get all the info you need and a range of loans to help you get into your car sooner.
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