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Home » Tesla Slashes Model Y Payments With Tantalizing 0.99% APR Offer

Tesla Slashes Model Y Payments With Tantalizing 0.99% APR Offer

Tesla kicked off an enticing 0.99% APR financing

Tesla kicked off an enticing 0.99% APR financing promotion for its popular crossover Model Y. Effective immediately, shoppers can take advantage of the rock-bottom interest rate on loans ranging from 36 to 72 months when purchasing a new Model Y.

0.99% APR carves a decent chunk off the typical finance costs of a Model Y, with monthly payments reduced by approximately 15% compared to the previous financing rates.

For instance, a long-range rear-wheel drive Model Y drops from $706 to an estimated $600 per month based on the 0.99% promotion, Performance Model Y also sees a notable $122 monthly discount down to $693. And those savings stack with the $7,500 federal EV tax credit for eligible buyers.

Tesla’s 0.99% APR deal has a firm cutoff date of May 31st, 2024 – giving shoppers just over a month to lock in the low interest rate.

It’s the latest in a series of tweaks and incentives Tesla has deployed to keep Model Y sales revving amid eroding demand and rising competition in the electric SUV space. From price cuts to federal credit games, Tesla’s has pulled numerous levers to protect its high-margin crossover.

With its original low-cost, high volume aspirations increasingly challenged, Tesla could be settling into a new normal as a premium brand battling it out with high-end rivals. If so, attractive financing promotions like this 0.99% APR offer could become a regular tool for sustaining Model Y transaction prices.

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