By now, we’ve all heard of Tesla’s long history of charging with a traditional credit card, and we know that the company’s recently launched ‘Tesla Cash’ option is also one of the few ways to charge your car with cash.
That said, if you’re a Tesla owner looking to charge up with your card, you might want to consider making sure you’re fully aware of what the company says about the payment method.
For starters, Tesla’s site states that ‘cash only’ is a “very good” way to charge a car, and it’s also not recommended for those who have car insurance.
If you’re going to use a Tesla Cash option, you’ll need to be aware of the terms and conditions.
If your car has a Tesla Model S or X and you’re charging at home, Tesla will only charge you at the rate you’ve agreed to when you’re on the road.
And the company has also listed ‘Tesla Autopilot’ as a “not-recommended” option, with its ‘Autopilot Autoplane’ feature that lets your car take over for other drivers.
If it’s a Tesla that has been damaged in a crash, the company will charge you directly from the insurer, but that’s not necessarily the best option.
If you have a Tesla, though, you’re guaranteed to be charged at least the rate it charges for a conventional credit card (which is $99/year), but you’ll have to pay the balance as a deposit.
So you’ll also need to pay a $35 annual fee for Tesla Cash, which will help you to cover the difference between what you’re paying and what the insurer is offering.
That means you’ll probably be charged the maximum for the first year you use Tesla Cash.
After that, it’s on the company to make sure that you’re using the cash method to cover your costs.
It also means you won’t be able to use it for things like repairs or repairs after a car is lost, but it’s an option you’ll likely want to make use of.
Tesla doesn’t offer much else about how to use Tesla cash, and there’s no set payment plan, but if you find yourself in the market for a car and don’t have a traditional car payment option, the Tesla Cash card is probably the way to go.