Financing your Tesla, powered by Westpac
We’re here to help finance your Tesla with a fixed interest rate of
You’re in charge with a Westpac Electric Car Loan
Flexibility to suit your budget
Choose weekly, fortnightly or monthly repayments over a 1-7 year loan term.
Borrow up to $130,000
Choose the right loan amount to cover the purchase price and extras like insurance^^.
$0 fee for extra repayments
You can make extra repayments as you like at no cost, a $175 prepayment fee may apply for early closure#.
Your Tesla. Fewer steps. Faster drive.
Finance your Tesla the smarter way with Westpac.
Order your Tesla
Order your Tesla online and select Westpac as your financial institution for the loan in the Tesla App. You’ll be directed to this page with your Tesla Reservation Number to continue the loan application.
Order online on Tesla’s website
Apply in minutes
Complete the Westpac Electric Car Loan application for your Tesla right here for a simple and hassle-free experience. You may receive conditional approval within 60 seconds after the application is submitted.
Verify your details
Upload your income documents to complete your application.
We’ll verify your vehicle details with Tesla directly and may request your Order Agreement if needed. We’ll update Tesla once you’re approved.
Accept your contract
Review and accept your contract online*.
Provide Tesla’s account details so we can pay them directly. Any extra funds (if you’re borrowing more) will be sent to your nominated account. We’ll notify Tesla once funding is complete so delivery can be arranged.
*Please do not accept your loan contract more than 5 days before your vehicle delivery date to avoid your monthly repayments starting earlier.
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 how'.
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
Your eligibility
You must:
- Be 18 years or older and hold a current Australian driver licence or learner's permit
- Be an Australian or New Zealand citizen OR;
- Be an Australian permanent resident and hold an acceptable visa (PDF 489KB) OR;
- Be a non-resident or migrant and hold an acceptable visa (PDF 489KB), with a minimum 1 year before expiry
- Have a fixed, verifiable Australian address
- Receive a regular, verifiable Australian taxable income
- Have purchased your eligible Tesla car using the Tesla App and selected Westpac as your financial institution.
Your car's eligibility
As your car is used as a guarantee for your loan, it must:
- Be an electric car bought directly from Tesla and registered in your name
- Be for personal use only
- Be imported by the manufacturer
- Be 7 years old or less at the time of loan application
- Never been written off, even if it was repaired
- Be comprehensively insured, with Westpac showing as the financier
- Be on our list of eligible electric or hybrid vehicles (PDF 364KB)
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.
Westpac and Tesla may introduce offers from time to time. To access a Westpac offer, you’ll need to select Westpac as your preferred financial institution for the loan in the Tesla app and apply for your loan directly from this page.
Note that any offers provided by Tesla are managed solely by Tesla, and Westpac is not involved in administering them. You should review Tesla’s terms and conditions for those offers and contact Tesla directly if you have any questions.
To help streamline your experience, we receive your Tesla Reservation Number directly from them. This is when you have initiated the loan application after selecting Westpac as your preferred financial institution for the loan on Tesla’s App. We also share updates with Tesla on your loan amount and application status, helping make the process smoother for you.
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 26 March 2026.
^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.