Finance the Ride / Car finance
How to Finance a Tesla in Australia
Car loan, novated lease or chattel mortgage: how to finance a new or used Tesla, how the EV FBT exemption works, and why timing matters when buying direct.
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Short answer: You can finance a Tesla with a secured car loan, a chattel mortgage if it's for business, or a novated lease through your employer. Because Tesla sells direct rather than through traditional dealerships, it pays to have your finance approved before you order so the funds are ready by delivery. Eligible EVs under a novated lease may also be exempt from fringe benefits tax.
Your main finance options
| Option | Who it suits | Key point |
|---|---|---|
| Secured car loan | Personal buyers | The car is security. You own it from settlement. |
| Novated lease | Employees whose employer offers salary packaging | A three-way agreement between you, your employer and a financier. Eligible EVs may be FBT-exempt. |
| Chattel mortgage | ABN holders using the car for business | The business owns the car. Interest and depreciation may be claimable for the business-use share. |
| Unsecured personal loan | Buyers who don't want the car as security | Often priced higher than a secured loan. |
The EV novated lease exemption
Under the Electric Car Discount, a battery electric car provided through salary packaging may be exempt from FBT if it was first held and used on or after 1 July 2022 and its value is under the luxury car tax threshold for fuel-efficient vehicles. Whether a particular Tesla qualifies depends on the model, variant and options, so check the price against the current threshold on the ATO website. Plug-in hybrids lost this exemption from 1 April 2025, apart from existing arrangements. The exempt benefit may still be counted as a reportable fringe benefit, which can affect things like Centrelink and child support assessments.
For business buyers, the car limit for depreciation is $69,674 in 2025–26 and $69,883 in 2026–27, so part of a more expensive car's cost may not be depreciable. Speak with your accountant.
What repayments might look like
Example only: borrowing $60,000 over 5 years at 9% p.a. with no balloon comes to about $1,246 a month, or around $14,730 in interest over the term. Fees aren't included, and this isn't a current rate. A balloon lowers the monthly repayment but you'll owe that lump sum at the end.
Buying direct: timing matters
- Get pre-approval before you place your order, or at least well before delivery.
- Ask the lender what it needs to settle, usually a tax invoice showing the VIN and final price.
- Arrange comprehensive insurance before settlement. Most lenders require it, and EV premiums can differ from similar petrol cars.
- Factor in on-road costs, which vary by state, plus any home charger installation.
Buying a used Tesla
Used Teslas are often sold privately. Run a PPSR search to check there's no finance owing, ask for service history and check what remains of the battery warranty. Lenders may have limits on vehicle age and private sales, so confirm these before you commit.
Ordering a Tesla? Tell us about your situation in about 60 seconds and a licensed broker will call you. No credit check to enquire.
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General information only. This isn't financial advice. Finance the Ride is a referral service and doesn't hold an Australian Credit Licence. Last reviewed September 2026.
About this guide. Written by the Finance the Ride team and last updated . It's general information for Australian borrowers, not financial advice, and doesn't take your circumstances into account. Finance the Ride is a referral service: we don't lend money or hold an Australian Credit Licence. About us