How much is the Tesla Model 3 on Contract Hire in the UK?

Published: May 29, 2019
Updated: May 29, 2019
Thats About: 5 years ago

So after a long 3 year wait, the RHD Tesla Model 3 is now available to order in the UK. Having visited America a few times and being teased with the swarm of Model 3’s around, its finally our time to swarm the UK with this mass produced affordable Tesla Model 3.

When ordering finally opened in the UK, many were shocked at the starting price, the Standard Range Plus starts at £38,050, quite a few pennies more than the car magazines were predicting. But just remember we haven’t got the bog standard model here in the UK as yet and to be honest, its not a derivative I want to go for.

Living on the edge of the Peak District, winters can be quite bad and an AWD version suits us much better than the RWD.

Being an active use of Twitter, most people are struggling with financing a Tesla. Sure, Tesla offer their straight Hire Purchase options but this isn’t always the best way of buying a car. PCP’s and Contract Hire are great for cars like this, especially if they have a strong residual value.

I managed to finance my Tesla Model 3 on a PCP through Lombard, sensible deposit, sensible monthly payments and a good future value at the backend. However, may people are seeing silly figures on contract hire. That was until Robert Llewellyn popped up on my YouTube viewing and introduced me to DriveElectric.

So how much does the Tesla Model 3 cost on Contract Hire?

On my first search for affordable leasing prices (correct as of 29th May 2019) on the Tesla Model 3, I came across many deals around the Standard Plus, these were coming out at £770 + VAT per month on a 36 month contract. This maybe the finance companies being a little over cautious but its a crazy figure and I’m not even going to name and shame the mainstream companies promoting this figure.

However, DriveElectric are offer the Tesla Model 3 Standard Range Plus for £342 + VAT per month with a sensible initial rental on a 24 month contract, and 12k per annum. An amazing price.

Here are some tips though! Order your Tesla Model 3 via their website and pay the £2,000 holding fee. Use my UK Tesla Referral Code to get 1,000 free supercharger miles for us both. Then contract Lottie at DriveElectric, she will produce you a quotation. Once you are happy with it, send the forms back with your Tesla Reservation order and they will arrange everything for you.

Be careful with options, adding something like the white paint adds £45 + VAT to the quote. Work it back and you are paying for the cost of the paint in your rentals, it does not take any optional extras into the residual value – so don’t go mad!

UPDATED JANUARY 2020: As this is a really popular blog piece, I thought I’d give the Tesla Model 3 piece an update.

As of today, there are still some strong Tesla Model 3 Contract Hire Deals available, this includes the Standard Plus from just £400.23 plus VAT with 10k on a 24 month contract and the Performance model from £509.00 plus VAT on a 24 month contract, both coming in from Leasing Options.

Also worth a try with Find a Car Lease – Uses a bank of brokers to find you the best deal. Click the link and its not a referral link!

Read more about Tesla on my blog, use the links below to see my latest pieces.

Tesla Referral Code Page

What is a Tesla Referral Code?

A Tesla Referral code can be used to get extra benefits when ordering a new Tesla Model 3 or any other vehicles from its range.

At the moment if you get a Tesla Referral code from another Tesla owner, you will each receive 1,000 supercharger miles. Previous referral programs got you special edition chargers and even cars!

More reading on the Tesla’s


    Rhys Adams

    Rhys Adams

    My name is Rhys, I love writing about things I’m passionate about. Whether it be travel, gadgets or some helpful information. I run a company called Cocoon Vehicles that offers Car Subscriptions.