So you’ve decided you want to buy a Tesla. If you’re looking to finance your Tesla - read on. In this guide we’ll cover the key financing options you should consider when buying a Tesla.
Tesla Financing: What to know
Similar to other manufacturers, Tesla offers financing for its vehicles through outside lenders. You can apply for financing on the Tesla website as part of the car-buying process after picking out the make and model you want to purchase.
How Tesla Financing works
Tesla does not directly provide the financing to you, it instead acts as a broker between you and the lender. You can apply for a Tesla loan online while you are submitting the order for your car. After you submit your loan application, Tesla will forward this information to its lending partners who will contact you separately on a decision for approval. As of the date of this guide, Tesla’s financing partners in Australia are Plenti and Macquarie Bank.
Tesla Leasing
Tesla does not offer leasing through any providers. You can however nominate your leasing partner via your Tesla Account.
Other Tesla Financing Options
Financing a Tesla purchase can be done with any lender, it doesn't need to be done through tesla's website. Like any loan or credit card application, it pays to shop around. There is no guarantee that the cheapest rates are through Tesla. We'll cover other key options you should consider.
Green Car (EV) Loans
There is no requirement finance electric cars via a green car loan, they however provide several benefits.
Green car loans often featured discount compared to traditional car loans. They often also provide the option to bundle the loan amount with green equipment options such as solar, batteries and EV chargers. Some also offer perks such as free charging.
Novated Lease
Procuring a Tesla through a salary packed novated lease may unlock tax benefits which will result in substantial savings.
Standard Lease
While Tesla does not offer a leasing option on its website, there is no reason why you cannot lease a Tesla through another provider. This will work like leasing any other car or piece of equipment.
About the author
Danny Thai
Danny is a consultant and entrepreneur working at the cutting edge of the electric vehicle and energy transition. He is passionate about educating and helping consumers make better decisions through data. He is the founder of zecar and is currently the EV Innovation Manager at Endeavour Energy.
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