Financing your Tesla, powered by Westpac
We’re here to help finance your Tesla with a fixed interest rate of
More reasons to choose a Westpac Electric Car loan
- Choose weekly, fortnightly or monthly repayments over a 1-7 year loan term
- Opt to cover your car's purchase price and extras like insurance ^^
- Application response in 60 seconds
- No balloon payment: Your loan is paid in full at the end of the loan term
- $0 extra repayment fee, a $175 prepayment fee may apply #
Electric Car Loan repayment calculator
Estimate your Electric Car Loan repayments for your Tesla purchase.
Rates & fees
Rates
| Fixed interest rate for your Tesla purchase | 5.99% p.a. |
| Comparison rate^ | 7.41% p.a. |
Fees
| Lending establishment fee | $250## |
| Monthly loan account fee | $15 |
| Prepayment fee (applies if you choose a loan term of 3-7 years and repay it within 2 years. This fee is waived if you pay out your personal loan by refinancing to another Westpac personal loan) | $175 |
| Missed payment fee |
$15 |
Other fees and charges may be payable.
Before you apply for a Westpac Electric Car Loan
How to apply for a Westpac Electric Car Loan
1. Check eligibility
Make sure that you and your car meet the requirements.
2. Simple application
Complete online application: To make it faster, we'll fill in the information we have about you if you're an existing customer.
Submit application: In 60 seconds, you'll know if you're conditionally approved, which means you know how much you could borrow.
3. Give us your car details
Before we can approve your application, we'll first need to verify your:
- Order Agreement: The Order Agreement document containing the Order Number that you received after placing your order for the car with Tesla
- Car Invoice: If the car invoice is already generated by Tesla, we may get it directly from them using the Order Agreement that you share with us. This is needed for the final verification of the car that you are purchasing and offering as security on the loan
We'll email you: To confirm if your application's been approved.
Review and accept contract: You can do this securely online. We'll then transfer the loan funds to Tesla. If you've opted to borrow more than the car’s value, the remaining funds will be transferred to your nominated account. Note: You should not accept your loan contract more than 5 days before your car delivery date so that your monthly repayments do not start early.
Prefer to apply later or from another device?
You can easily return to this page anytime to start your Electric Car Loan application. Just visit our public Car Loan or Electric Car Loan pages, navigate down to the Tesla offer and select ‘Find out more'.
Frequently asked questions
To access our exclusive Electric Car Loan offer for your Tesla purchase, you’ll need to apply through this page. To get here, simply select the dedicated Tesla link from our Car Loan or Electric Car Loan pages.
To access Westpac’s offer, you’ll need to have selected Westpac as your financial institution on the Tesla app and apply directly from this page. Please note any offerings by Tesla are managed solely by Tesla and Westpac is not involved. You’ll need to check Tesla’s T&Cs regarding their offers and reach out to them directly if you have any questions.
To streamline your experience, we will share your loan amount and application status directly with Tesla.
If you have cancelled your Tesla purchase after funds have been sent, but before taking delivery of the car, please give your loan account number to Tesla so they can return the funds to us. Once received, we’ll close your loan automatically.
Things you should know
This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice. Please consider your individual circumstances before applying for a Westpac Personal Loan. Credit criteria, fees, charges, terms and conditions apply. Information is correct as of 30 October 2025.
^Comparison rates: Comparison rates help you understand the true cost of a loan. All comparison rate examples shown are for a personal loan amount of $30,000 and a term of 5 years. WARNING: Comparison rates apply only to the example or examples given and may not include all fees and charges. Different loan amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
- Electric Car Loan repayment terms range from 1 to 7 years. Interest rate ranges and representative examples are based on a personal loan of $30,000 borrowed for 5 years with the interest rate of 5.99% p.a. (comparison rate 7.41% p.a.), the estimated total amount payable including fees is $35,981. The actual rate offered may be higher or lower than the comparison example above.
#Prepayment fee: If you choose a term greater than 2 years for a Westpac Personal Loan, and pay it out in less than 2 years, there is a prepayment fee of $175. This fee is waived if you pay out your personal loan by re-financing to another Westpac personal loan.
##The lending establishment fee will be added to your loan amount. Please read full terms and conditions before making a decision to apply for a Westpac Personal Loan.
**Repayment calculator: Any calculations made by you using this calculator is intended as a guide only. It is for illustrative purposes only and is based on the accuracy of the information provided. The calculation is not an offer of credit. The amount you can borrow may vary once you complete a loan application and all the details relevant to our lending criteria are captured and verified. The calculations should not be relied on for the purpose of making a decision whether to apply for a personal loan. Weekly and fortnightly repayment calculations - if your monthly repayments are $1000, fortnightly repayments are calculated by dividing $1000 by 2 and rounding up if required ($1000/2 = $500). Weekly repayments are calculated by dividing $1000 by 4 and rounding up if required ($1000/4 = $250).
^^To qualify for a Car Loan, applicant must meet all credit criteria and the car offered as security must meet all criteria - either new or if used, cannot be older than 7 years at time of application, registered under the applicant's name, has been made locally or imported by the manufacturer, has never been written off (even if it was repaired), has a paid, fully comprehensive insurance policy with Westpac noted as the financier and is for personal use only. The loan amount may exceed the vehicle's market value, as reported by Redbook, to cover the purchase price of the vehicle and other expenses. If you're using a Westpac Car Loan to buy an electric or hybrid car, check our list of eligible vehicles (PDF 364KB).
Credit provided by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.