Boost sales and promote its Full Self-Driving (FSD) technology, Tesla North America has announced an unprecedented financing offer. The electric vehicle giant is now providing 0% APR for new Model 3 and Model Y purchases, with a catch – customers must opt for the FSD Supervised package.
This groundbreaking promotion, available exclusively in the U.S., applies to orders placed from October 8, 2024, onwards. The 0% APR extends to loan terms up to 72 months, requiring a minimum down payment of 15%. For eligible buyers, the $7,500 Federal tax credit will be applied, further sweetening the deal.
Under this new financing scheme, customers can expect to pay approximately $13.88 per $1,000 financed over the 72-month term. This unprecedented rate structure significantly lowers the barrier to entry for Tesla’s popular Model 3 and Model Y vehicles, potentially attracting a broader range of buyers.
It’s important to note that this promotional rate is not universally available. Tesla specifies that it’s reserved for “well-qualified buyers with excellent credit” who include the FSD Supervised option in their purchase. Additionally, the company reserves the right to modify or terminate the offer at any time without notice.
As Tesla drives this aggressive financing strategy forward, it’s clear they’re betting big on FSD Supervised to steer future sales. Will this 0% APR offer accelerate Tesla’s market share, or is it just a pit stop on the road to full autonomy?