How Much Is A Tesla Model X On Finance

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The True Cost of Financing a Tesla Model X

The Tesla Model X is a popular electric SUV that offers a luxurious driving experience and a host of innovative features. However, it is also a pricey vehicle, with a starting MSRP of $104,990. If you're considering financing a Tesla Model X, it's important to understand the true cost of ownership.

Factors Affecting Tesla Model X Financing

Several factors will affect the monthly payment for a Tesla Model X on finance. These include:

* **The down payment:** The larger the down payment, the lower the monthly payments will be.
* **The loan term:** The longer the loan term, the lower the monthly payments will be. However, you will also pay more in interest over the life of the loan.
* **The interest rate:** The interest rate is determined by your credit score and the lender you choose. A higher interest rate will result in higher monthly payments.

Average Monthly Payments for a Tesla Model X

Based on current interest rates and assuming a $5,000 down payment, the average monthly payment for a Tesla Model X on finance is as follows:

* **Loan term of 60 months:** $1,546
* **Loan term of 72 months:** $1,325
* **Loan term of 84 months:** $1,157

Additional Costs to Consider

In addition to the monthly payments, there are other costs to consider when financing a Tesla Model X. These include:

* **Sales tax:** The amount of sales tax will vary depending on the state you live in.
* **Registration fees:** Registration fees vary by state.
* **Insurance:** Tesla Model X insurance can be expensive, so it's important to shop around for the best rates.

Tips for Saving Money on Tesla Model X Financing

Here are a few tips for saving money on Tesla Model X financing:

* **Make a larger down payment:** The larger the down payment, the lower the monthly payments will be.
* **Shop around for the best interest rate:** Get quotes from multiple lenders to find the best interest rate.
* **Consider a shorter loan term:** A shorter loan term will result in higher monthly payments, but you will pay less in interest over the life of the loan.

Conclusion

Financing a Tesla Model X can be a great way to get behind the wheel of this luxurious electric SUV. However, it's important to understand the true cost of ownership before you sign on the dotted line. By considering all of the factors involved, you can make an informed decision about whether or not financing a Tesla Model X is right for you.


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