of
*These lease quotes assume a down payment of $4,500. Monthly payments may vary based on credit score, down payment, and lease term. Quotes accurate as of 9/25/23.
You can transfer the lease of your Tesla to a credit-approved assignee if you have more than 13 payments left on your lease. Depending on your lease agreement, you may be eligible to purchase your Tesla at the end of your lease.
Insurance Requirements for Leasing a Tesla
You must meet minimum coverage requirements to lease a Tesla unless you’re subject to state-specific requirements. These include:
Bodily injury liability: $100,000 per person and $300,000 per accident
Property damage liability: $50,000 for property damage
Physical damage insurance for the full value of the vehicle
You must also have a maximum insurance deductible of $2,500 to lease any Tesla model.
How To Finance a Tesla
Whether you choose to finance your Tesla through a lease or loan, the process can be completed in a few simple steps after you place an order and confirm your delivery details. Steps include:
View financing options on your Tesla account: In the “Payment Method” section of your account, select “Finance” to view the financing options available.
Select your financing method: Choose between a lease and a loan. Have your Social Security number handy to submit your credit application.
Confirm your loan or lease information and personal information: Select Tesla as your financier and confirm the amount you want to finance, along with your preferred monthly payment and loan or lease term. After this, you can complete your application by submitting your Social Security number, phone number, address and employment information.
Wait for approval: Tesla will review your credit application once you submit it. If your information changes or credit approval expires, you can resubmit your credit application by following the same steps above.
Receive a financing decision: Tesla will notify you of a credit decision within the “Payment Method” section of your account. Most credit decisions are available within a few minutes, with others taking up to 48 hours.
Note that Tesla doesn’t offer a credit pre-approval process, and you may be required to place a large down payment to receive your car. You’ll have to seek preapproval through your bank or another financial institution if you want to know what financing offers you may qualify for.
Who Is Eligible for Tesla Financing?
Anyone looking to purchase or lease a Tesla can apply for financing. However, Tesla financing offers are only available in certain states.
State Availability for Tesla Finance Auto Loans
To qualify for a Tesla car loan, you must have your vehicle delivered to one of the following states:
Arizona
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