Tesla financing in Australia
Tesla is Australia’s most popular electric vehicle manufacturer and its Model Y is now consistently one of the top-selling new cars on the road.
With prices starting from around $56,000 for the 2025 Model Y (RWD) (currently its most affordable model), buying a Tesla is a significant investment.
That’s why finding the best Tesla interest rate you can is crucial. Even a small difference in interest rates can add up to thousands of dollars in extra interest over the life of your car loan.
You should also compare the rates and charges on Tesla finance deals, such as discharge fees and late repayment fees.
Tesla finance options at a glance
- Finance for all Tesla models
- Low rate secured car loans
- Tesla business finance options
- Novated lease for Tesla
- Pre-approval available
- Borrow up to $150,000
- Fixed or variable interest rate
- Finance terms from 1 - 7 years
- Flexible repayment options
Tesla finance rates compared
Compare a selection of car loan interest rates for various Tesla models to see your estimated monthly repayments.
Tesla model | Model Y (RWD) |
|---|---|
Estimated cost | $55,900 |
Monthly repayments (6% p.a. interest) | $1,081 |
Monthly repayments (8% p.a. interest) | $1,134 |
Monthly repayments (10% p.a. interest) | $1,188 |
Tesla model | Model Y (Long Range - AWD) |
Estimated cost | $68,900 |
Monthly repayments (6% p.a. interest) | $1,332 |
Monthly repayments (8% p.a. interest) | $1,397 |
Monthly repayments (10% p.a. interest) | $1,464 |
Tesla model | Model 3 (RWD) |
Estimated cost | $57,570 |
Monthly repayments (6% p.a. interest) | $1,113 |
Monthly repayments (8% p.a. interest) | $1,167 |
Monthly repayments (10% p.a. interest) | $1,223 |
Tesla model | Model 3 (Long Range - AWD) |
Estimated cost | $67,602 |
Monthly repayments (6% p.a. interest) | $1,307 |
Monthly repayments (8% p.a. interest) | $1,371 |
Monthly repayments (10% p.a. interest) | $1,436 |
Tesla model | Model 3 (Performance - AWD) |
Estimated cost | $83,602 |
Monthly repayments (6% p.a. interest) | $1,616 |
Monthly repayments (8% p.a. interest) | $1,695 |
Monthly repayments (10% p.a. interest) | $1,776 |
| Tesla model | Estimated cost | Monthly repayments (6% p.a. interest) | Monthly repayments (8% p.a. interest) | Monthly repayments (10% p.a. interest) |
|---|---|---|---|---|
Model Y (RWD) | $55,900 | $1,081 | $1,134 | $1,188 |
Model Y (Long Range - AWD) | $68,900 | $1,332 | $1,397 | $1,464 |
Model 3 (RWD) | $57,570 | $1,113 | $1,167 | $1,223 |
Model 3 (Long Range - AWD) | $67,602 | $1,307 | $1,371 | $1,436 |
Model 3 (Performance - AWD) | $83,602 | $1,616 | $1,695 | $1,776 |
Types of Tesla finance options available
1
Secured loan
Financing your Tesla with a secured car loan is a popular option, as the vehicle itself is used to secure the loan, which reduces the lender's risk. However, depending on the lender, a secured loan may only cover the cost of the vehicle and not additional expenses like a fast charger or home battery. Most loans have terms from 1 to 7 years, with the choice of fixed or variable rates.
2
Unsecured loan
An unsecured personal loan functions much like a car loan but doesn’t require the Tesla to be tied to the loan. Because the loan is not backed by the vehicle, lenders usually charge higher interest rates to compensate for the extra risk. Despite this, unsecured loans work similarly to traditional car loans in most other aspects.
3
Novated lease
Another option is a Tesla novated lease which allows you to finance a new or used Tesla through your employer. Particularly for electric vehicles, there are considerable tax advantages to a novated lease compared to a car loan. With a novated lease, you’ll pay for your Tesla as well as running costs (charging, car insurance, etc.) using your pre-tax salary. You’ll also get a GST discount on the cost of the vehicle and car running costs.
Novated leases on eligible Model 3 and Model Y variants are also exempt from fringe benefits tax. This means significant savings compared to other options for financing a Tesla in Australia. The FBT exemption applies to Teslas (and other EVs) valued below the luxury car tax (LCT) threshold.
4
Finance lease
If you'd rather have the flexibility of not owning your Tesla immediately, a finance lease could be a great option. With this arrangement, you make regular payments to the lender, who buys the vehicle for you and keeps ownership during the lease period. At the end of the lease, you may have the choice to either start a new lease or purchase the Tesla outright.
5
Tesla green loan
If you’re buying a Tesla, you may be eligible for special electric vehicle finance through a green loan. This is a type of loan offered by some lenders (with a discount on standard car loan rates) specifically for environmentally-friendly vehicles and other green purchases.
Tesla dealer finance
You can finance your Tesla through the options listed above, or by using Tesla's preferred lenders, Commbank and Plenti, with applications available via the Tesla app, as stated on Tesla's website. However, you still have the flexibility to choose a different lender if you prefer.
While choosing dealer finance may simplify the process for some, it does limit your options to just these two providers. This could potentially mean that you're not getting the best financing deal available on the market, as you're restricted to the rates and terms offered by these lenders.
Financing through a dealer, like Tesla, may often be less competitive compared to other options available from third-party lenders. By choosing to shop for the best financing separately, you open the door to a wider variety of choices. Not only does this give you access to better rates and terms, but it also typically won’t delay your approval process.
How to get the best Tesla finance deal
The interest rate on your Tesla finance will be the biggest factor in determining your overall costs. But getting the best Tesla car loan overall means looking a bit deeper than the advertised rate alone.
Ongoing finance rate
Some car finance deals feature an initial low rate that increases to a higher one after an intro period. Look for Tesla finance options with a low rate for the entire term.
Fees
A lot of lenders charge application and ongoing fees, which can add up significantly. But it’s possible to save by shopping for Tesla financing deals with low or no fees.
Finance term
Avoid signing up for a loan term that’s longer than you need. While you may have lower regular repayments with a longer term, you’ll pay more interest overall.
Repayment flexibility
You’ll save on interest over the life of your Tesla car loan if you’re able to make extra repayments without being stung with fees.
Eligibility for Tesla finance
To be eligible for a Tesla car loan, you’ll need to be:
- Over 18 years of age
- An Australian citizen or permanent resident
- Employed with a regular source of income that can afford the loan repayments
- Able to meet the lender’s other credit criteria (credit score, other debt, etc.)
How to apply for Tesla finance
Here’s a quick overview of the process for applying for Tesla finance:
- Compare your tailored Tesla car loan quotes
- Choose the best deal suitable for you or talk with a car loan broker who can help
- Make an application with the lender
- Provide documents to support your application (i.e. payslips and bank statements)
- Sit tight while the lender assesses your information
If your application is approved, you'll either receive pre-approval for a car loan up to a specified amount (giving you the green light to start shopping for your Tesla) or final approval if you've already chosen the model you'd like to purchase.
With certain lenders, you could apply for and receive approval for Tesla financing on the same day.
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