When you want to buy a Tesla Model S, you can use Tesla’s financing options, which are like loans from banks, but Tesla helps you get them 🚀. You can apply for financing directly on the Tesla website by filling out a credit application after you order your car, and this process is available in some states 📊.
You can choose to pay for your car over a period of time, usually between 36 and 84 months, which means you make monthly payments until you own the car 📆. The interest rate for these loans can vary, but it often starts around 5.59% APR, which is like a fee for borrowing money 💸.
Another option is to lease a Tesla Model S, which means you pay to use the car for a few years, usually 24 to 36 months, and then return it 🚗. Leasing often requires a down payment and has limits on how many miles you can drive each year, with extra fees if you go over those limits 🚧.
If you prefer not to borrow money, you can also pay the full price of the car upfront with cash, which is a straightforward way to own your Tesla immediately 💸.
Overall, Tesla’s financing options are designed to make it easier for people to own or lease their cars, with tools like a financing calculator to help you plan your payments 📊.