This article describes how Tesla financing rates compare to other institutions that lend money. Tesla wins out.
So you want to finance a Tesla but don’t know where to go? You’re not alone. With so many companies appealing to us to put our financial faith with them, it’s hard to know where to turn. The answer? Tesla.Why are Tesla financing rates and terms more appealing than other companies? Perhaps, like so many Tesla endeavors, it makes sense to the company to keep as many services and products as possible in-house.
Lease — You can lease a Tesla over the terms of 24 to 36 months. Leasing is available to qualifying customers. A lease may not be for you for any number of reasons, including that Tesla’s leasing program— all Tesla vehicles delivered on or after April 15, 2022 are not eligible for purchase, and third-party dealerships and third-party individuals are not eligible to purchase leased vehicles.
Buy a new car, as they have historically provided the lowest interest rates. You’ll need to have a solid credit score, and you should shop around for the best finance deal you can find. And, remember: it’s the total loan amount, not the monthly payment, that should drive your final decision.Many people choose longer loan terms to keep the monthly payment down, especially when they move into the premium car class.
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