Paying off a whole Deferred Loan early, works just like paying off a Standard Tenet Loan. You pay the remaining principal plus the interest since your last monthly payment.
Example
This example below is based on a 2024 Tesla Cybertruck Foundation Series AWD with a Credit Score of 800+
| Standard Loan | Deferred Loan |
Loan Amount | $95,000.00 | $95,000.00 |
Loan Term | 72 months | 72 months |
Deferred Amount | $00.00 | $19,000.00 |
Monthly Payment | $1,582.96 | $1,364.38 |
Est APR* | 6.19% | 6.19% |
Total Interest | $18,973.03 | $22,235.02 |
Say Elon is looking to pay off his Cybertruck Loan a week after his Loan Contract started. Elon would owe us the full $95K which includes The $19K Deferred, plus 7 Days worth of interest.