Tesla is now offering heavily discounted 0.99% financing on Model Y for a limited time in an attempt to boost orders.
For the past year, Tesla CEO Elon Musk has mostly blamed the company’s demand issues on high interest rates.
Most people buy new vehicles with loans and the 5 to 7% interest rates are currently adding thousands of dollars to the cost of any new vehicle.
Last month, Tesla brought 0% loans to China in an attempt to boost sales in the critical auto market.
Now, Tesla is doing something similar in the US with the announcement of a new 0.99% APR financing product for Model Y until May 31:
Here are the terms on Tesla’s website with a $4,250 down payment and 72 month-loan:
For the new Model Y Long Range RWD, it comes down to monthly payments of $603 before incentives.
Top comment by Sean
Liked by 18 people
Don’t like the use of estimated savings because everyone’s use is so different and prices for gas and charging vary a lot. In my area supercharging is generally more expensive than gas in a comparable vehicle and electricity prices even when charging at home are double what they use to make their estimate
