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Tesla Financing review

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You'll need to order your new or used Tesla before you can apply for financing.

  • Best for committed buyers ready to buy or lease a Tesla.
  • Pick something else if you aren't ready to order your car.

Details

Product NameTesla Financing
Loan term3 to 6 years
Financing typesPurchase,Leasing
Eligible car typesNew,Used

Pros and cons

Pros

  • Two calculators to estimate the cost of a lease versus a loan
  • Live chat assistance available

Cons

  • Have to order vehicle before you can apply for financing
  • No special discounts

Tesla Financing special discounts

  • Military: No
  • College grad: No
  • Repeat customers: No
  • First responders: No
  • Accessibility equipment: No

Tesla Financing reviews and complaints

BBB accredited No
BBB rating A+
BBB customer reviews 2 out of 5 stars, based on 151 customer reviews
BBB customer complaints 1,524 customer complaints
Trustpilot Score 3.1 out of 5 stars, based on 192 customer reviews
App Store Score 3.8 out of 5 stars, based on 3,400 customer reviews
Google Play Score 4.3 out of 5 stars, based on 12,857 customer reviews
Customer reviews verified as of 19 October 2020

You won’t find specific pages on Trustpilot or the Better Business Bureau (BBB) for Tesla Financing. But the main Tesla profiles on each site hold a handful of reviews.

The biggest red flag, however, is the over 1,500 complaints on the BBB site as of October 2020. While these aren’t all specific to the financing program, they do speak to more than a few unhappy customers overall.

How to apply

To complete an application through Tesla Financing, you need to first order the Tesla you wish to purchase or lease. Follow these steps to get started:

  1. View Tesla’s current inventory or build your own Tesla.
  2. Within one month of your delivery date, log into your account to complete a loan or lease application.

Tesla will contact you within two days to confirm your information. Alternately, you can contact a representative directly by emailing autofinance@tesla.com.

How do repayments work?

You can make repayments one of four ways:

  • Through Tesla’s online payment portal
  • By enrolling in monthly ACH payments
  • By mail
  • By phone

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