FYI: Tesla China has extended its zero-interest loan offer for the Model 3 and Model Y, allowing customers to benefit from this promotion until the end of September 2024.
Tesla China Extends Zero-Interest Loan Offer for Model 3 and Model Y Until Q3 2024
Tesla China has chosen to continue its highly popular zero-interest promotion for the Model 3 and Model Y vehicles manufactured at its Giga Shanghai facility. This offer, which has captivated a wide array of customers, has now been extended to the end of September 2024. To take advantage of this limited-time promotion, customers must place their order and receive their vehicles by September 30, 2024—coinciding with the conclusion of the third quarter.
Zero-Interest Loan Details
The official order pages for Tesla China’s Model 3 and Model Y specify that the zero-interest loan can be spread over periods of up to five years. For those eyeing the reengineered Model 3, the installment could cost as little as RMB 2,533 ($355) per month. Similarly, the Model Y can be financed for RMB 2,833 ($397) per month, given an initial downpayment of RMB 79,900 ($11,220).
Eligible Models
- Model 3 Rear Wheel Drive (RWD)
- Model 3 Long Range Dual Motor All Wheel Drive (AWD)
- Model Y Rear Wheel Drive (RWD)
- Model Y Long Range Dual Motor AWD
It is important to note that the high-performance versions, specifically the Model 3 Performance and Model Y Performance, are excluded from this zero-interest loan promotion.
Alternative Financing Options
For customers who prefer not to take the zero-interest loan, Tesla China offers a low-downpayment plan. This plan involves an initial payment of RMB 45,900 ($6,450) for either the Model 3 or Model Y. The plan also includes an annual fee rate as low as 0.5%, which translates to an annualized interest rate of 0.92% over a 1-5 year loan term.
Estimated Wait Times
As per Tesla China’s official website, the estimated delivery times for the Shanghai-made models are as follows:
- Model 3 RWD and AWD: 3-5 weeks
- Model Y RWD and AWD: 1-3 weeks
Promoting Sales Towards Q3 End
With the final month of Q3 2024 approaching, Tesla China is gearing up to meet domestic market demands. By extending the zero-interest loan offer, Tesla anticipates a surge in local orders, positioning itself strongly as the quarter concludes.
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William Kouch, Editor of EV News for Automotive.fyi
