For the Tesla Buyers: How to Finance Your First Tesla

Tesla is one of the most famous automotive brands in the world. In the US, Tesla cars are highly regarded, with many claiming that it’s the car for the upper-class. However, this isn’t the case. With some smart finances and decent knowledge about your budget, you should be able to purchase and maintain your first Tesla.

First of all, you should start thinking of the Tesla brand as an affordable brand instead of thinking it’s only for the most elite. The newly released Tesla Model 3 is one of the cheapest on the market and is even cheaper than other entry-model cars out there. That’s what we are planning to help you secure in this article, but the same process is applicable for other models out there.

A Disruptive Brand

It’s quite astonishing to think that you can purchase a Tesla online. You don’t have to go to a dealership or even talk to a salesperson. All you have to do is to visit the Tesla website and choose a vehicle you like.

This is why the Tesla brand is disrupting the automotive industry. You no longer have to go through the agonizing process of purchasing a vehicle from a dealership—no more middlemen who will squeeze the money out of your pockets. Instead, the process of purchasing a Tesla is as simple as visiting their website.

Test Driving and Purchase

The first process of every automotive purchase is test driving. Tesla offers a seven-day test drive for those interested in purchasing a Tesla. But this offer can vary depending on which state you are in.

Currently, the brand is offering a touchless test-drive process. You can sign up for one on their website. Once approved, you will be designated to a Tesla parking space where you can drive the Tesla model of your dreams. You can also choose a more convenient location for your test drive. The car will drive itself to that location, open itself, and then you can test drive it.

However, touchless driving isn’t available in most states at the moment, and you’ll have to wait for it if you’re in one of those states. Once you’ve decided to purchase a Tesla, all you have to do is visit their website and buy it. It’s that simple!

Cheaper Process

The direct-to-consumer way of selling is considered to be cheaper than the traditional way of selling vehicles. As a result, you don’t have to watch out for hidden fees or trickery offers that can put a hole in your pocket. The direct-to-consumer market has been Tesla fighting for many years now, and apparently, it’s succeeding.

How to Finance Your Tesla

Tesla Loans

Your first option is to use the loans offered by Tesla. These are respected dealers that the brand has partnered with, so you don’t have to look for a lender yourself. All you have to do is to choose this payment option when purchasing your car.

Currently, there it’s not stated what credit score you need to apply for a loan, but it’s assumed that you should have between a good and excellent credit score to get one. However, it’s important to note that some of these lenders might not be available in your state. Therefore, your next option is third-party loans.

Third-party Loans

When we talk about paying off your Tesla, you can always choose to do so with cash. But not many Americans have $30,000 or $50,000 in cash-in-hand. So one way you can easily pay off your Tesla is by taking out personal loans. This is the most versatile option and the most available one.

There are many third-party lenders out there willing to finance your first vehicle purchase. They are cheap, but this depends primarily on the rates available in the market right now.

Online Means

Lastly, you’re free to purchase a Tesla through online means. You can choose to get a loan from online lenders and use that as your payment option. Also, interestingly enough, Tesla will be accepting payments through Bitcoin in the future.

As you can see, unlike most car dealerships, there are so many ways you can finance your first Tesla purchase. Additionally, you don’t have to worry about insurance because Tesla has got it covered. For any damages or malfunctions, you can send your vehicle right back to the manufacturer, and they’ll get it fixed for you.

The process of purchasing a Tesla is much easier than the traditional means of buying a vehicle, and the process of financing it is also quick and easy to do. Anyone can purchase a Tesla nowadays, so what are you waiting for? Go and get one right now!

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