How Our Tesla Lease with Option to Buy Works
Our Tesla lease with option to buy program is designed to be simple, transparent, and accessible. Here's exactly how you go from browsing to driving to owning — step by step.
Apply in Minutes
Start by filling out our simple application — just your basic contact information and the vehicle you're interested in. We don't ask for a Social Security number on the initial application, and we don't run a hard credit pull during the inquiry stage.
Unlike traditional dealerships that make you sit through hours of paperwork before telling you whether you qualify, we give you a clear answer quickly. Most applicants hear back within 48 hours. We look at the full picture — your income, stability, and driving history — not just a three-digit credit score.
Choose Your Tesla
Once you're approved, you'll work with our team to select the right vehicle for your needs. We maintain a curated inventory of Tesla Model 3 and Tesla Model Y vehicles, along with other electric vehicles available for our lease-to-own program.
Every vehicle in our inventory is inspected, serviced, and ready to go. We'll walk you through the features, range, charging options, and everything you need to know about driving electric in the Austin area. If you're new to EVs, our team is here to help you make the transition confidently.
Sign Your Lease Agreement
Your lease agreement will clearly outline your terms — no hidden fees, no surprises. We believe in full transparency, so every detail is explained before you sign. You'll know exactly what you're paying and what your path to ownership looks like.
We structure our lease-to-own agreements so that your payments build toward the purchase price of the vehicle. This means every payment is bringing you closer to owning your Tesla outright — not just renting it month to month with nothing to show at the end.
Drive Your Tesla
This is the part you've been waiting for. Pick up your Tesla, pair your phone, and start driving. You'll enjoy all the benefits of Tesla ownership — the technology, the performance, the savings on fuel — while your lease payments work toward building equity in the vehicle.
During your lease, our team is available for any questions or support you need. And because we're part of the Elektrica family of businesses, you have access to Complete Collision & Auto Repair for any body work or service needs that may come up.
Exercise Your Purchase Option
At the end of your lease term, you have the option to purchase your Tesla at the pre-agreed price set in your original agreement. There's no guessing, no negotiation, and no dealer markup — the price was locked in when you started.
If your circumstances change and you decide not to purchase, you can return the vehicle. But most of our customers choose to buy because they've already built significant equity through their lease payments. It's ownership on your timeline.
What Makes Our Program Different
Traditional auto leasing was designed for people with excellent credit and a willingness to return the car at the end with nothing to show for it. Our Tesla lease with option to buy program flips that model on its head.
Traditional Lease
- Requires excellent credit scores
- Strict mileage limits with heavy penalties
- Return the car with zero equity
- Dealer markups and hidden fees
- Limited vehicle choice
Elektrica Lease-to-Own
- Flexible credit evaluation beyond scores
- Reasonable mileage expectations
- Build equity with every payment
- Transparent pricing, no hidden costs
- Curated Tesla and EV inventory
Who Is This Program For?
Our lease-to-own Tesla program in Austin is designed for people who want to drive electric but need a more accessible path than traditional financing. That includes:
- Credit builders — If you're working on improving your credit, our program lets you drive a quality vehicle while you do it.
- Self-employed drivers — Traditional lenders often struggle with non-W2 income. We understand entrepreneurial income streams.
- First-time EV drivers — Curious about Tesla but not ready to commit to a full purchase? Lease-to-own lets you experience it first.
- New-to-credit applicants — Just starting out? We evaluate more than just credit history.
- Anyone who values flexibility — Life changes. Our program is built to work with you, not against you.
Ready to Get Started?
The process starts with a simple application — no commitment, no hard credit pull, and no pressure. Apply now or call us at (512) 891-4008 to talk through your options.
Your Tesla Is Waiting
Start your application today. Most applicants hear back within 48 hours.