Posted on May 10th, 2024
Tesla has expanded its financial offerings with attractive low-interest rates on the Model Y, encouraging more drivers to switch to electric.
Starting today, all new Model Y orders can benefit from a promotional APR of 0.99% for terms between 36 and 72 months. Additionally, for those needing longer to pay, the 84-month term now offers a reduced rate of 1.99% APR, down from 7.40%.
This special financing option is designed to make Tesla's electric vehicles more accessible and affordable, especially at a time when auto loan rates have generally been high. Eligibility for these rates requires placing orders by May 31, 2024, and is available to well-qualified buyers.
Here's how the new rates translate to monthly payments:
Long Range Rear-Wheel Drive: Was $706, now $603, saving $103 monthly.
Long Range All-Wheel Drive: Was $756, now $646, saving $110 monthly.
Performance Model: Was $815, now $696, saving $119 monthly.
Tesla’s initiative not only lowers the cost of owning a Model Y but also underscores its commitment to accelerating the shift to sustainable transport. This offer comes at a pivotal moment for Tesla and the EV industry, providing significant savings to consumers ready to embrace electric mobility.
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