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.
While every car loan
is different, you can typically expect to pay between $570 and $1,850 per month for a Tesla car loan. The exact monthly cost of your loan will depend on a few factors, such as:
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 down payment: 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
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. 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.
Other factors that could affect your loan payments include your credit score, the state you live in, and the trade-in value of your current vehicle.
The table below gives you a closer look at pricing information and average monthly payments for Tesla models:
Keep in mind: The averages shown above are based on the lowest-available (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).