Personal Contract Purchase and Tesla Loan Support
Your first and all subsequent payments will be due on the monthly anniversary of your delivery date. The due date cannot be changed. The payments will be labelled “Adyen Payments”. It usually takes 3-5 working days after initiation until the payment is debited from your account.
If a payment fails, you will be informed by email. Please follow the instructions in the email to make the payment.
You can view and change your bank account details by:
- Sign in to your Tesla Account
- Select ‘Manage’ > ‘Manage Loan (under ‘Loan Management’) > ‘Edit’ > 'Change' > '+' to access the BACS Direct Debit portal, then add a new account
- Verify data and select 'Continue.' This will prompt a £0.00 verification transaction.
- Print or save the new mandate for your own administration
- Send a copy of the mandate to FinanceAgreementUK@tesla.com
After setting up a new mandate, please do not initiate a one-time payment via your account as this could interfere with creation of the mandate. The new mandate needs 3-4 days to be successfully created.
Permissible Origin of Payment
As an FCA regulated company, Tesla Financial Services UK Limited must enforce specific payment criteria:
- The transfer must be initiated by the person who has entered into a contractual relationship with Tesla Financial Services Limited
- Down payments, one-off and settlement payments must be made by wire
- Monthly payments must be made by Direct Debit
- Refunds can only be made to the initial payer
In a Personal Contract Purchase or Tesla Loan agreement you are the registered keeper of the vehicle and will receive the V5C. Typically, the document will be posted to you within 14 days after delivery.
Your loan agreement can be viewed in your Glovebox in your Tesla Account.
If your Tesla is damaged, you are responsible for its repair. Please refer to our Body Shop Network for support.
For any warranty related issues, please schedule a Service Centre appointment via your Tesla App. For warranty or vehicle related complaints, please raise with the relevant Service Centre directly to solve your issue. Learn more about warranty.
If your vehicle is declared a total loss, please reach out to FinanceAgreementUK@tesla.com to inform us so we can advise you on the next steps. Your contract will be terminated upon receiving the settlement funds from your insurance.
You are obligated to arrange the MOT for your vehicle.
You must insure your vehicle for its full replacement value with a reputable insurer. You must notify the insurers of Tesla’s interest in the vehicle and the insurance policy must last at least as long as your agreement.
Note: Your Tesla Loan / PCP does not include GAP Insurance. While not mandated, we encourage customers to obtain GAP Insurance for best coverage.
You are obligated to arrange tax for your vehicle.
All terms agreed upon in the contract are fixed and cannot be changed, including but not limited to:
- Mileage change
- Due date change
- Term
- Monthly payment
- Type of contract
- Software packages included in your contract
Refer to Loan End for special information if you decide to return the vehicle to Tesla.
Software packages cannot be enrolled in your loan contract after signing, the only option would be to purchase the upgrades cash or wait for an upcoming subscription feature.
You are free to make early repayments or settle the entire loan early at any time. There are no limitations, fees or penalties on making early repayments or settlement.
Early Repayments
When you make a partial repayment, we will first use it to pay any arrears, overdue interest or charges. The early payment will be used to reduce the Final Repayment (if PCP) and then to reduce the term of the agreement. In no circumstance can an early repayment change the monthly rate.
We strongly recommend initiating the payment after the collection date and ideally 2-3 weeks before the next collection date—ensuring we have sufficient time to manually allocate the payment as early repayment.
Please inform us immediately after you make an early repayment by emailing FinanceAgreementUK@tesla.com.
Early Settlement
You can generate an Early Payoff Quote from your Tesla app directly, by following these steps: Select ‘Financing’ > ‘Manage Loan’ > ‘Early Payoff’ > ‘View Payoff amount’ > ‘Agree to Payoff/Reject Payoff’.
After payment the deactivation and deregistration can take 24 - 48 hours (about 2 days).
Payments
We kindly ask you to make wire payments when making early repayments or settling. We do not allow one-time payments via your Tesla Account. The payment can be made from a third party.
If your financing agreement is with another company (such as Blackhorse), please reach out to them directly for a settlement figure.
Tesla Loan
Your Tesla Loan agreement comes to an end by paying all your instalments. after your last payment your financing account will be deactivated and HPI cleared.
Personal Contract Purchase
After your last monthly payment your final payment will be due. By paying off this balloon, you will clear your finance against it, we will deactivate your account and clear the HPI.
When your agreement ends and you decide to return the vehicle, your vehicle must undergo an inspection with our partner DEKRA before returning it to a nearby Tesla location. We will provide relevant information on how to perform the inspection and where to return your Tesla prior to the end of your personal contract purchase. You will be presented with a full breakdown of potential excess mileage charges and excess wear and tear items before you return your Tesla to us.
If your vehicle is driven more than the agreed miles per year and you return the vehicle to us (or we have to recover it), you will pay us 14 pence per mile (plus VAT). Please review your contract for more information.
You will then return the vehicle to the nearest Tesla location and pay any remaining amounts remaining under your personal contract purchase agreement.
When ordering a new vehicle, there is the option to part-exchange your current vehicle. Simply opt for a trade-in with your new order. You can generate an Early Payoff Quote from your Tesla app directly, by following these steps: Select ‘Financing’ > ‘Manage Loan’ > ‘Early Payoff’ > ‘View Payoff amount’ > ‘Agree to Payoff/Reject Payoff’.
Once you have your quote, please use it against your new order or contact your Tesla Advisor if you have any questions. You cannot change the configuration within your financing agreement.
If you are having difficulty making your payment, you can contact our Financial Service Team or refer to local non-profit organisations. For more information, contact us or review the Financial Conduct Authority's Arrears Information Sheet.
If you would like to raise a formal complaint, please refer to our complaints procedure.
To reach a Tesla Financial Services agent, you can either:
- Email FinanceAgreementUK@tesla.com and include your Tesla RN or VIN number
- Leave a voice message by calling +44 162 824 4000, Option 4 and state your Name, RN Number or your VIN and the reason for calling.
Our office times are Monday – Friday, 8 AM to 4 PM.