Tesla Payments: What You Need to Know
You can make Tesla loan or lease payments through the Tesla app or a third-party lender.
Written by Melanie Johnson
Reviewed by Brenna Swanston
Table of Contents
Tesla Finance LLC allows customers to make lease or loan payments through their Tesla app or account or a third-party lender.
If you’re trying to make a Tesla payment or simply considering whether to go for a Tesla
car loan
or lease, you’ve come to the right place. In this article, we’ll cover how to pay your car bill, go over the average monthly payments for Tesla’s 2022 models, and answer some frequently asked questions about car loans.How to pay your Tesla car bill
If you financed your vehicle with Tesla Finance LLC, the easiest way to make a payment is through the
Tesla app
. If you received a loan through a third-party lender, you’ll have to pay them according to the terms of your loan.App
The Tesla app is a convenient way to set up automatic monthly payments, make a one-time payment, enroll in paperless billing, and manage your billing information.
To enroll in automatic payments, make sure you have the latest version of the app and follow these steps:
- Open the Tesla app
- Navigate to “Financing”
- Then “Payments”
- Then “Preferences”
- Finally, click to enable autopay
What if you only want to make a one-time payment? Simply follow these steps:
- Open the Tesla app
- Navigate to “Financing”
- Then click “Make a One-Time Payment”
That’s it! For an overview of your Tesla loan contract, you can consult the “Documents” tab of your Tesla app.
By phone
Tesla Finance LLC does not allow payments over the phone for leased or financed vehicles.
By mail
Check payments via bill pay or personal checks are not accepted by Tesla. You’ll need to find a third-party lender to finance your vehicle if you’d prefer to make your monthly payments by mail.
In person
You can visit your local bank or credit union to apply for financing and make payments in person. Going through a third-party lender may help you save money, provided you shop around to find the best interest rate and lease terms. If the lender
pre-approves your loan
, you’ll know how much money you can borrow to purchase that shiny new Tesla.RECOMMENDED
Compare auto insurance policies
No spam or unwanted phone calls · No long forms
Can I make my Tesla payments with a credit card?
Tesla does not accept credit cards for whole car purchases, but you may be able to make a partial payment for your car with a credit card. Additionally, Tesla accepts credit card payments for the following products and services:
- Charging cables and adapters
- Accessory kits and interior accessories
- Replacement parts
- Wheels
Several third-party lenders accept credit card payments for financed or leased vehicles.
Is there a grace period for Tesla car payments?
Most auto loans have a 10-day grace period on
late loan payments
. However, Tesla Finance LLC does not disclose whether it offers its customers a grace period.Keep in mind that your lender may charge a late fee if you miss a car payment, and your credit score will be negatively affected if you’re more than 30 days late. If you’re going to be late on your payment, it’s a good idea to let your lender know ahead of time to discuss your options.
How much are Tesla payments?
You probably already know that Teslas are more expensive than the average EV, which means you can expect higher-than-average loan or lease payments. The starting MSRP for a new Tesla ranges from $46,990 for a 2022 Tesla Model 3 to $120,990 for a 2022 Tesla Model X.
Consult the table below for pricing information and
average monthly payments
for current Tesla models. Keep in mind that the averages shown below are based on the base trim for that model with a 10% down payment, a 72-month loan term, 5% sales tax (the national average), and an estimated APR
of 4.90% (the average for new car buyers with credit scores between 661 and 780). Model | MSRP range | Average monthly payment |
|---|---|---|
$46,990 – $62,990 | $572 | |
$104,990 – $135,990 | $1,602 | |
$120,990 – $138,990 | $1,846 | |
$65,990 – $69,990 | $1,007 |
Depending on the state where you live and your
credit score
, you may see a different price. Other factors that affect your Tesla payment include your current vehicle’s trade-in
value, your loan term, and your state’s electric vehicle incentives.“Jerrysaved me $80 a month! I have a Tesla Model Y and really wanted to lower my rates. And they did! I really recommend you give this a shot!” —Nick M.
MORE: How long do Teslas last?
Let Jerry find your price in only 45 seconds
No spam · No long forms · No fees
What is the lowest credit score Tesla will finance?
Tesla Finance LLC has no minimum credit score requirement, but generally, scores of 661 to 780 qualify you for the best rates.
What is the best interest rate Tesla offers?
Tesla offers interest rates as low as 2.49% for eligible customers with excellent credit.
What is the best Tesla car?
That’s impossible to say! Tesla’s lineup features some truly incredible vehicles—including the affordable, yet sleek,
Tesla Model 3
and the ultra-luxurious Tesla Model X
.Reduce your monthly car payments in minutes?
Find out if Jerry can reduce your payments by an average of $150/month
4.7You might also be interested
