Tesla Credit Tiers (March 2026)
| Tier | Credit Score | Money Factor (36mo) | APR Equivalent | Monthly Payment* |
|---|---|---|---|---|
| Tier 1 | 720+ | 0.00210 | 5.04% | $564 |
| Tier 2 | 680โ719 | 0.00230 | 5.52% | $594 (+$30) |
| Tier 3 | 640โ679 | 0.00260 | 6.24% | $634 (+$70) |
| Tier 4 | Below 640 | 0.00300+ | 7.20%+ | $684+ (+$120+) |
How Credit Score Affects Your Payment
Over 36 months: Tier 3 pays $2,520 more than Tier 1. That's a vacation โ or a year of supercharging.
Credit Score Checker
See which tier you'd likely fall into:
What Tesla Looks For Beyond Credit Score
- Income: No set minimum, but your payment should be โค15-20% of gross monthly income
- Debt-to-income ratio: Below 45% ideally, below 50% required
- Employment history: 2+ years at current job preferred
- Previous auto loans: On-time payment history helps
- Bankruptcy: Must be discharged for 2+ years typically
Can You Lease With a 600 Credit Score?
With scores below 640, Tesla may:
- Require a co-signer with good credit
- Ask for a larger down payment (often 20-30%)
- Apply a higher money factor (Tier 4 rates)
- Request additional income verification
- Limit which models you can lease
How to Improve Your Chances
What About Lease Transfers?
When taking over someone's lease, Tesla still runs a credit check. The requirements are similar to a new lease:
- Minimum score usually 650+
- Same income/debt considerations
- $595 transfer fee applies
Hard Pull vs. Soft Pull
Tesla performs a hard credit inquiry when you submit a lease application. This may temporarily lower your score by 5-10 points. Multiple inquiries within 30 days for auto shopping count as one for scoring purposes.
Special Programs for Low Credit?
Tesla does not offer special financing or lease programs for subprime borrowers. Unlike traditional dealerships, there's no "second chance" financing. You either qualify or you don't.
Frequently Asked Questions
Tesla typically requires 650+, but approval isn't guaranteed. Higher scores get better rates.
Very unlikely without a co-signer. Even then, expect high money factors and large down payment.
Yes. A cosigner with good credit can help you qualify and get better rates.
Moving from Tier 1 to Tier 3 adds about $70/month ($2,520 over 36 months).
Yes. Tesla performs a hard inquiry when you apply for a lease.
Possible with a large down payment and proof of income, but difficult. A cosigner helps.
Sources: Tesla lease applications, community-reported approvals, Leasehackr forums, and credit industry standards. Rates and tiers current as of March 2026 and may vary by region.