Tesla is again offering a low interest rate to Model Y buyers who finance their purchase in the US. This is the second time Tesla has enticed buyers with a low promotional interest rate in the last few months.
In case you weren’t aware, interest rates have skyrocketed recently. This has impacted many markets, including the automotive market, with buyers being more hesitant to make such a large purchase with such high interest rates.
To help boost sales of the Model Y, Tesla offered a low 0.99% financing rate in the US for most of the month of May.
Now Tesla is back with another low interest rate promotion. According to an announcement by the company on X, buyers in the US can get 1.99% financing on new Model Y orders placed before August 31, 2024.
Additionally, you must take delivery by September 30, 2024, which just so happens to be the end of the third quarter.
1.99% APR financing available for Model Y in the US
— Tesla North America (@tesla_na) July 19, 2024
Applies to new orders placed before 8/31, must take delivery by 9/30https://t.co/oLrTGTu522
According to Tesla’s Design Studio, which has been updated with the new interest rates, the 1.99% applies when financing for 36 to 72 months. If you opt for 84 months, the interest rate jumpy to 3.99%.
Unfortunately there is no sign of these low interest rate offers coming to Canada.
This isn’t the only incentive Tesla is currently offering. Also available is free FSD transfers, free Supercharging, and as we told you about earlier, free paint, interior colour, and seating options for Model 3 Performance and Model X AWD.
