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Tesla brings 0.99% APR financing on Model Y for big savings

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Tesla Model Y

Tesla today announced a new 0.99% APR (Annual Percentage Rate) for Model Y in the U.S. This financing offer is valid for a limited time until May 31, 2024. This is a great opportunity for customers to save on a new Tesla through financing.

Tesla Model Y has three trims – RWD, Long Range, and All-Wheel Drive. These have a purchase price of $44,990, $47,990 and $51,490 respectively. These prices go down with an added $7,500 Federal tax credit. The 0.99% APR applies to 36, 48, 60, and 72 months, while it turns 2.99% on an 84-month loan.

Based on these new changes, these three trims will be priced at the following:

  • Model Y Long Range Rear Wheel Drive will cost $603/month ($499/month after Federal Tax Credit).
  • Model Y Long Range will cost $646/month ($542/month after Federal Tax Credit)
  • Model Y Performance will cost $696/month ($592/month after Federal Tax Credit).
Tesla Model Y 0.99% APR Financing Offer Until May 31, 2024

Tesla Model Y 0.99% APR Financing Offer Until May 31, 2024 (Source – Tesla)

These prices were (before the 0.99% APR offer):

  • Model Y Long Range RWD: $706/month
  • Model Y Long Range AWD: $756/month
  • Model Y Performance: $815/month

Customers will have to submit a $4,250 down payment on all trims. Meanwhile, the financing amount will be $42,130, $45,130, and $48,630 respectively.

Model 3:

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Compared to this, the Tesla Model 3 has a 6.49% APR for up to 72 months term with the following monthly payment:

  • Model 3 RWD: $605/month
  • Model 3 Long Range AWD: $752/month
  • Model 3 Performance will cost $857/month ($753/month after Federal Tax Credit).

Note: The first two variants of Model 3 aren’t eligible for the Federal tax credit.

Saving:

The new 0.99% APR and Federal Tax credit make a huge difference in monthly payments and it’s a big saving for anyone interested in buying a new Tesla Model Y. You can check the complete financing detail on the official Tesla Model Y configurator page (here).

Timothy started learning about game development and electronics at the age of 17. After involvement in different projects, he switched to Android app development and began pursuing smart hardware mechanics. Later on, he became fond of writing and tech journalism. Timothy covers major topics about internet personality, business, EV, Space, Social Media, and more. He loves to watch survival videos and try to find out new facts about the ocean and animals.

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