|APR (Fixed APR)||
|Loan Term (Months)||36 - 72 months|
|Credit Score Range||N/A|
Tesla Financing Review
Tesla Financing is offered by tesla, a financial services company founded in 2003 and based in Austin, TX. Tesla Financing are available in 50 states (and Washington, DC).
Tesla Financing FAQ
What APR does Tesla Financing offer on its car loans?
Tesla Financing offers a fixed apr car loan product of 5.59%
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
What is the maximum auto loan term you can get with Tesla Financing?
Tesla Financing has car loans with terms ranging from 36 to 72 months. Having the option of longer terms -- terms can range up to 144 months -- allows borrowers to take on larger auto loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto loan, the more interest you will pay.
Does Tesla Financing charge an origination fee?
Yes, Tesla Financing may charge a loan origination fee.
Does Tesla Financing charge a late fee?
Yes, Tesla Financing charges borrowers with a late payment penatly fee
Does Tesla Financing charge prepayment fees?
Yes, Tesla Financing does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment can reduce or even cancel the interest savings of repaying a loan early.
Can I pay off early my Tesla Financing loan?
Yes, you can. However, Tesla Financing charges a prepayment fee if you pay your car loan early. This fee could reduce or eliminate the savings from paying the car loan early.
What do you need to qualify for Tesla Financing?Tesla Financing does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher.
Tesla Financing does not have or does not disclose a minimum annual income eligibility requirement. Tesla Financing only considers borrowers who are employed.
The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Tesla Financing. Their rates fall within the limits of The Military Lending Act.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Tesla Financing.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Driver's license
- Proof of identity
- Proof of citizenship or residence permit
- Proof of residence
- U.S. tax identification number
Is Tesla Inc a legit company?
Tesla Inc was founded in 2003, it is a well-established company that has been in business for 20 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- Washington, DC
- West Virginia
|Employment Statuses Considered||
|Immigration Status Considered||
|Joint Loan Applications Accepted||
|Supported Income Types||
|Verification Documents Required||
|APR Type||Fixed APR|
|APR (Fixed APR)||
|Loan Term||36 - 72 months|