Tesla Model S Financing Guide (2026)
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Tesla ended Model S production in Q2 2026, repurposing the Fremont factory lines for Optimus robots. Final Signature Edition deliveries began in May 2026. The used market is now the only way to buy a Model S, an iconic car in the history of EVs.
Used Tesla Model S Pricing in 2026
| Model Year | Trim | Approx. Used Price |
|---|---|---|
| 2019–2020 | Long Range | $35,000–$48,000 |
| 2021–2022 | Long Range | $45,000–$62,000 |
| 2021–2022 | Plaid | $58,000–$75,000 |
| 2023–2024 | Long Range | $60,000–$78,000 |
| 2023–2024 | Plaid | $72,000–$95,000 |
| 2025 | Long Range | $75,000–$90,000 |
Older model years are more affordable, especially long range. Plaid's superior driving performance and detailing mean they command a significant price premium over the base model.
What Does It Cost to Finance a Used Model S?
Monthly estimates on a 2022 Model S Long Range at $55,000, 60-month term:
| Credit Score | Tenet APR | Est. Monthly |
|---|---|---|
| 760+ | From 5.25% | ~$1,044 |
| 720+ | From 5.75% | ~$1,059 |
| 680+ | From 6.25% | ~$1,076 |
| 620+ | From 7.50% | ~$1,107 |
Monthly estimates on a 2021 Model S Long Range at $48,000, 60-month term:
| Credit Score | Tenet APR | Est. Monthly |
|---|---|---|
| 760+ | From 5.25% | ~$910 |
| 720+ | From 5.75% | ~$923 |
| 680+ | From 6.25% | ~$939 |
| 620+ | From 7.50% | ~$966 |
Rates as of April 2026, subject to change. Regional rates as low as 4.40%. Minimum loan balance $10,000. No application fee.
Why Consider a Used Model S?
Range. Up to 405 miles EPA, more than any current Model Y or Model 3. For buyers who regularly drive 300+ miles between charges or want maximum range margin, nothing in Tesla's remaining lineup competes.
Performance. The Plaid does 0-60 in under 2 seconds. The Long Range AWD does it in approximately 3.9 seconds, faster than most sports cars. These numbers don't age.
What to Check on a Used Model S
Battery health. Tesla's data shows Model S packs lose roughly 12% of capacity after 200,000 miles — slightly better than Model 3/Y at 15%. Very early packs (pre-2016) had some module degradation issues worth investigating. Post-2016 cars have been reliable. Get a third-party report on any purchase above $40,000.
Hardware generation. March 2023+ Model S has AI4. Earlier cars have HW3. Both run Autopilot well, but AI4 receives updates first and is the only option if you'd like full FSD in the future. No upgrade path exists yet for HW3, though Tesla has said they will offer it in the future.
MCU generation. Pre-2021 cars have MCU1 or MCU2 media control units. MCU1 cars have limited app and streaming support — confirm the media system generation on any pre-2021 car.
Accident history. The aluminum body can be expensive to repair. Run a Carfax or AutoCheck report. Check for open recalls at tesla.com.
Where to Buy
Tesla CPO (tesla.com/used), independent EV dealers, Carvana, CarMax, or private party. Tenet finances all channels including private-party purchases. Get a Tenet offer before committing to any seller's financing.
Loan Requirements
- Minimum credit score: 560 FICO
- Minimum loan balance: $10,000
- Tenet finances used Model S vehicles back to 2018
GAP Coverage
Given the Model S's price point and classification as a luxury vehicle, GAP is worth adding at loan origination. It must be added when the loan is originated, it can't be added retroactively. Tenet offers GAP at origination.
Frequently Asked Questions
Will Tesla continue servicing Model S vehicles?
Yes. Tesla has committed to ongoing parts, service, and software support. With a large owner base, parts supply will be maintained for years.
What is the difference between 2021+ and pre-2021 Model S?
Tesla significantly refreshed the Model S in 2021 — new interior, improved range, heat pump standard, and updated media system. Pre-2021 cars have the older interior design. The 2021+ refresh is the version most buyers want.
Is the Plaid worth the premium?
For performance enthusiasts: yes. For buyers who mostly want range and daily comfort: the Long Range delivers more range and costs significantly less on the used market.
One Last Thing
The Model S is a historical car, the first mass produced EV that is still on the roads today. It's a luxury vehicle but with the used market being the only option, it can be bought at relatively attractive prices.
Check your Model S financing rate with Tenet — two minutes, no credit impact.
Rates as of April 2026, subject to change. APR range 5.25%–18.99%; regional rates as low as 4.40% through select credit union partners. Minimum loan balance $10,000. Tenet Energy Inc., NMLS #2262929.