Tesla launches unprecedented rate promotions in Japan, allowing consumers to purchase its cars with very attractive financing options. The move will make Tesla cars available to a wider range of consumers in the country.
The company said that buyers of Model 3 RWD and Long Range, as well as Model Y RWD and Long Range in Japan, will have access to a great, but limited-time, offer. They can purchase the above-mentioned cars at an interest rate of 0% for 60 months (up to 5 years) or 0.99% for 120 months (up to 10 years).
This is the first time Tesla has made such an attractive offer available. It is expected to attract a significant number of buyers, which will help boost sales this year.
For example, if a customer buys a Model 3 RWD with a 0% interest rate plan, their 5-year payment plan would be:
- Vehicle Price: ¥5,313,000 (approx. $34,750)
- Downpayment: ¥650,000 (approx. $4,250)
- Loan Agreement Amount: ¥4,663,000 (approx. $30,500)
- Monthly Payment Amount (60 times): ¥26,900 (approx. $195)
- Monthly Additional Amount (10 times): ¥120,000 (approx. $785)
- Final Fixed Residual Value Amount: ¥1,849,000 (approx. $12,095)
In addition, Tesla has increased the estimated trade-in value that can be applied to the purchase of a new car. This will allow existing customers of the company to upgrade their cars to newer ones on favorable terms.
The promotion is only valid for cars ordered after October 2, 2024, and whose delivery will be accepted by the end of 2024. This indicates that the company is aiming to increase sales this year and strengthen its position in the global market. While car sales worldwide are recovering slightly, they are still quite low due to the difficult economic situation in the world.
Tesla cars are quite attractive in Japan, as they are eligible for the CEV subsidy, local government subsidy, and some other incentives that bring benefits of about ¥1 million (about $6,500) or more.
