Tesla Hire Purchase Calculator
Calculate your Tesla Hire Purchase monthly payments for Model 3, Model Y, Model S, Model X. Get instant quotes with our free Tesla HP finance calculator.
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Tesla Hire Purchase Calculator
Your Tesla Hire Purchase Results
Amount to be financed
£46,750.00
Monthly payment
£1,117.32
Term
48 months
Total Amount Paid
£61,881.32
Total interest
£6,881.32
You own the car after
48 months
About Tesla Hire Purchase
Tesla Hire Purchase is a straightforward way to finance your Tesla.You pay a deposit and then make fixed monthly payments over an agreed term. Once all payments are complete, you automatically own the car.
Tesla Financial Services offers competitive HP rates, typically ranging from 4.9% to 9.9% APR. Unlike PCP, there's no final balloon payment - you make equal monthly payments throughout the term.
Tesla HP is ideal if you want to own your Tesla outright and prefer predictable monthly payments. You can also settle the agreement early to save on interest charges.
Tesla Hire Purchase FAQs
What is Tesla Hire Purchase?
Tesla Hire Purchase (HP) is a straightforward financing option where you pay a deposit and then make fixed monthly payments over an agreed term. Once all payments are complete, you automatically own the Tesla.
How does Tesla HP differ from PCP?
Unlike Tesla PCP, Hire Purchase has no final balloon payment. You make equal monthly payments throughout the term and automatically own the car at the end. HP typically has higher monthly payments but lower total cost.
What Tesla models are available on HP?
All Tesla models are available on Hire Purchase including the Model 3, Model Y, Model S, and Model X. Tesla also offers HP on their electric vehicles with competitive rates and flexible terms.
What is the typical APR for Tesla HP?
Tesla HP APR rates typically range from 4.9% to 9.9% depending on the model and your credit profile. Tesla often offers promotional rates on selected models, sometimes as low as 0% APR.
How much deposit do I need for Tesla HP?
Tesla HP typically requires a minimum deposit of 10-20% of the car's value. For a £50,000 Tesla Model Y, you'd typically need a £5,000-£10,000 deposit. You can put down more to reduce monthly payments.
Can I get Tesla HP with bad credit?
Tesla Financial Services offers HP to customers with various credit profiles. Those with excellent credit will get the best rates, but Tesla will work with you to find suitable terms based on your circumstances.
Can I pay off Tesla HP early?
Yes, you can settle your Tesla HP agreement early. You'll receive a settlement figure that includes any outstanding balance minus interest charges. Early settlement can save you money on interest.
Can I use Tesla Superchargers on HP?
Yes, Tesla HP customers have full access to the Tesla Supercharger network. You can charge your Tesla at any Supercharger location using your Tesla account, just like if you owned the car outright.
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