Tesla has made several changes to its U.S. sales incentives and financing offers, adjusting promotions for both the Model 3 and Model Y as the company enters the final weeks of the second quarter.
The biggest change affects buyers considering a Model 3 Premium. Tesla has confirmed that its offer of one year of free Supercharging will end on June 15, giving prospective customers just over a week to take advantage of the promotion.
The incentive was introduced earlier this year in April as Tesla looked to stimulate demand and encourage deliveries. While free Supercharging for a limited period doesn’t carry the same value as the company’s historic unlimited Supercharging offers, it can still represent meaningful savings for drivers who frequently use Tesla’s charging network.
Model 3 Lease Pricing Increases
Tesla has also increased the advertised lease price for the entry-level Model 3 Rear-Wheel Drive (RWD). The vehicle, which starts at $36,990 before incentives, is now advertised at $329 per month. Previously, Tesla’s website listed the same configuration at $299 per month.
The $30 monthly increase translates to an additional $1,080 over the course of a typical 36-month lease, potentially making the entry-level sedan slightly less attractive for budget-conscious shoppers.
Despite the increase, the Model 3 remains one of the lowest-priced EVs available in the U.S.
Model Y Financing Gets More Expensive
Tesla has also adjusted financing rates on the Model Y lineup. The Model Y All-Wheel Drive (AWD), which starts at $41,990 before incentives, no longer qualifies for the company’s promotional 0% APR financing offer. Instead, buyers are now being offered financing starting at 0.99% APR.
While the difference may appear small, the higher rate can add hundreds of dollars in interest costs over the life of a loan depending on the length of the term and down payment amount.
Not all Model Y buyers are affected, however. Tesla continues to offer 0% APR financing on the RWD variant.
The changes come on the same day Tesla announced product updates for the Model Y, including the expansion of the black headliner and larger 16-inch center touchscreen across all North American trims.
While there were no updates to incentives or offers in Canada (because there currently are none), Tesla did introduce a new Shanghai-made Model 3 Premium AWD variant priced at $49,990.
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