Tesla has introduced a new low-interest financing promotion in the United States for its two top-selling vehicles, the Model 3 and Model Y. The promotional rates significantly lowers borrowing costs compared to standard interest rates, making the electric sedan and SUV more accessible to buyers.
For the Model 3, buyers can now get a low 0.99% financing rate across the entire lineup, including the Rear-Wheel Drive (RWD), Premium RWD, Premium All-Wheel Drive (AWD), and even the top-of-the-line Model 3 Performance variant, which is often excluded from these kinds of promotions.
This promotion arrives alongside an even more aggressive financing on Tesla’s best-selling vehicle. Buyers in the U.S. can now secure 0% financing on a new Model Y RWD (formerly Standard) and Model Y AWD, while opting for the Model Y Premium RWD and Premium AWD can secure a low 0.99% financing offer. Unlike it’s smaller sibling, the Model Y Performance is excluded from this offer.
These offers for both vehicles are available for loan terms up to six years (72 months). Tesla announced the new promotional rates in an email to customers on Sunday.
Promotional financing has become an increasingly important tool for automakers, especially as interest rates remain elevated compared to the near-zero borrowing environment seen earlier in the decade. By offering sub-1% financing, Tesla is effectively subsidizing interest costs to maintain strong demand and remain competitive with both traditional automakers and new EV entrants.
Despite the attractive financing offers south of the border, Canadian buyers currently do not have access to similar promotional rates. The last time Tesla offered something for Canadians was late last year when the company offered 2.99% on Model Y purchases.
