Tesla launches 1.99% APR for new Model Y

Tesla has launched 1.99% APR financing rate for new Model Y electric vehicle (EV) orders in the US, providing customers with more options to buy this newly launched model.

The company is currently selling Model Y long range all-wheel drive in the US, which you can get for as low as $574 per month for 72 months with 1.99% APR including a $7,500 Federal tax credit.

Customers who want to claim this offer will be required to pay 15% of the down payment, alongside taxes and fees. This offer is available from 36 to 72 months terms. That said, the 82 months of term will tag with a 6.44% APR, which many of these may not be taking.

New Model Y buyers can also claim a $0 due at signing with 2.99% APR term for upto 72 months with a $7,500 Federal Tax credit at point of sale.

Customers who want to finance a new Model Y can take extra benefits such as 3 months of Full Self Driving (FSD) by using a referral link. However, this offer is not stackable with the $2,000 Model Y Loyalty incentive.

This offer follows, Tesla’s 0% APR for Model 3 for upto 60 months term introduced last week, another golden opportunity for customers to get a Tesla at the lowest financing rate.