Tesla has launched a tempting new offer in the US, introducing a 0.99% APR financing rate for a limited time on new Model Y purchases. The new incentives comas amid a challenging economic landscape marked by high interest rates.
Unfortunately the low interest rate offer is not available in Canada.
The offer, available until May 31, covers all Model Y trims and applies to loan terms ranging from 36 to 72 months. Buyers can opt for the newly introduced Model Y Long Range RWD, which starts at $44,990 before tax credits, or choose from the Long Range AWD and Performance models.
Using Tesla’s online configurator, a down payment of $4,250 and a 72-month (6 year) financing plan, the monthly payments can be as low as $603 before incentives.
For those eligible for federal tax credits, this financing offer could reduce monthly payments to just $499, making the Model Y a significantly more affordable option compared to its internal combustion engine (ICE) counterparts.
This financing offer comes at a time when Tesla and the auto industry at large is grappling with the impacts of sustained high interest rates, which have added considerable cost to vehicle ownership and dampened consumer enthusiasm.
This isn’t the first time Tesla has launched a low interest rate offer, having recently launched a 0% loan offer in China aimed at boosting sales.
