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How much is a Tesla per month?

What will my monthly payments look like if I buy a new Tesla? I want to know if it would be manageable for me on my current salary or if I should look for a different, less expensive car instead. I love Teslas, so I’m hoping there’s a way that I can make the payments work!

avatar
Liz Jenson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
While every car loan is different, you can typically expect to pay between $1,100 and $2,500 per month for a
Tesla car loan
. The actual monthly cost of your loan, however, will depend on a few factors. These include:
  • The repayment period of your loan. A longer repayment period will result in lower monthly payments, but you’ll be charged more in interest over time.
  • The size of your downpayment. If you’re able to put a lot of money down, you won’t have to pay off as much of the car later on.
  1. The model you choose. If you opt for a more expensive Tesla model, like the
    Model X
    , you’ll probably have a higher monthly payment.
  2. Your interest rate. If you’re offered a lower interest rate, you won’t have to pay as much for your car loan each month.
To offset part of the cost of a new car, check out your insurance savings options with the
Jerr​​y
app. Jerry can help you find the best rates available in a matter of minutes and the average user saves $887 per year. Download the app to learn more.
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