Now is a good time to buy a Tesla in Canada as financing rates have recently dropped to record lows.
In June interest rates being offered on the purchase of a new Tesla were as high as 3.30%. As the impacts of the COVID-19 lockdowns continued to ripple through the economy, rates dropped to as low as 2.35% in July .
Good news, Canadian interest rates have gone down! Here are the latest rates for July for those looking to buy a #Tesla. (info from the Tesla Model Y Canadian FB group)
– 2.35% up to 72 months. (Down from 2.65% in June)
– 2.80% 84 or 96 months. (Down from 3.30% in June)
— Drive Tesla 🇨🇦 (@DriveTeslaca) July 7, 2020
Several Drive Tesla readers have reached out recently to let us know that rates have now dropped even further.
If you want to pay your car back over 84 or 96 months, Tesla is offering interest rates from RBC and Scotia Bank as low as 2.35%. For financing periods of 36 to 72 months, you can qualify for a rate as low as 2.15%.
This is quite a bit less than what is currently published on Tesla’s Design Studio, where the 72 months or less is showing 2.49% and terms of 84 or 96 months is indicating 3.00%.
For those in British Columbia, it is an even better time to buy the refreshed Model 3. The CEV for BC rebate fund was recently topped up, meaning you can save $3,000 on the purchase of a Standard Range Plus (SR+).