Tesla has launched another new financing offer for its Model 3 and Model Y vehicles, with the automaker introducing a zero-down-payment option for buyers.
However, this promotion is exclusive to the United States, leaving potential buyers in Canada out in the cold again.
According to a post by the official Tesla North America account on X, buyers in the US can purchase a Model 3 or Model Y Long Range (LR) or Performance variant without making any upfront payment at signing. While the promotion removes the immediate financial burden of a down payment, the annual percentage rate (APR) is slightly higher for this zero-down option compared to other plans.
Buyers opting for the zero-down-payment deal will see a 2.49% interest rate, up from the 1.99% promotional rate offered for those who put money down at signing.
In practical terms, a buyer taking advantage of this deal and financing a Tesla Model Y over 72 months could expect to pay approximately US$580 per month, not factoring in Tesla’s “gas savings” claims. For buyers who qualify for federal tax credits, these payments could be reduced further.
This offer is available on Model 3/Y LR and Performance orders placed on or after September 12, 2024. Unlike the 1.99% financing deal that requires delivery by September 30, this offers appears to have no similar restriction.
Not Available in Canada
While Canadian buyers finally got a financing promotion with the introduction last month of a 1.99% interest rate for Model Y purchases, Canada is not included in this no down-payment promotion.
$0 due at signing now available for Model 3/Y Long Range & Performance in the US
— Tesla North America (@tesla_na) September 13, 2024
Applies to new orders placed 9/12 or laterhttps://t.co/MvlrZN6eOh
