FYI: Tesla is offering an unprecedented $0 down payment option for financing on Model 3 and Model Y purchases until the end of September.
Tesla Rolls Out $0 Down Payment Offer on Model 3 and Model Y
Tesla is pulling out all the stops to attract new buyers with a compelling $0 down payment financing option on Model 3 and Model Y vehicles. This attractive offer is available from September 12 to 30, and buyers need to take delivery before the end of the month.
$0 Down Offer Details
You can now drive home a Tesla Model 3 or Model Y with nothing due at signing when financing. The promotion carries a 2.49% APR for 60 months on the Model 3, and up to 72 months on the Model Y. However, there’s a condition: Tesla uses the point-of-sale federal tax credit to cover the down payment, meaning your personal tax situation and eligibility play a significant role in benefitting from this deal.
Lower APR with 20% Down
If you prefer a lower interest rate, putting down 20% of the car’s value allows you to secure an even more attractive APR of 1.99% for terms between 36 to 60 months. These are some of the best financing deals that have ever been offered on Tesla’s Model 3 and Model Y.
Tesla’s Competitive Edge
Tesla’s refreshed Model 3 Long Range rear-wheel drive offers an impressive 363 miles of EPA-estimated range and can accelerate from 0 to 60 miles per hour in just 4.9 seconds. Combining such range and performance with low APR financing and no upfront costs makes it an irresistible deal.
Leasing Options Available
If leasing is more your style, Tesla also offers attractive lease options. Model 3 leases start at $299 per month with $2,999 due at signing for a 36-month term. Model Y leases start at $439 per month with the same initial payment and term. Leasing a Tesla may result in lower monthly payments compared to financing.
Competing EV Deals
While Tesla is aggressively promoting its vehicles, it’s worth noting there are other attractive EV deals in the market. For instance, you can lease a Kia Niro EV for $149 per month for 24 months with $3,999 due at signing or a Hyundai Ioniq 5 starting at $159 per month with the same conditions. The Nissan Ariya is another appealing choice at just $169 per month.
The EV Advantage
Switching to an electric vehicle can be a cost-effective option if you optimize your charging solutions, such as installing a home charger. Given the current market dynamics, with fluctuating EV demand, now might be a good time to make the switch without hurting your finances—or the environment.
Conclusion
Tesla’s new financing and leasing deals are poised to bring in a surge of new customers. Whether you’re looking for a low monthly payment through a lease or a zero upfront cost financing option, there are plenty of great choices on the market. So, if you’ve been considering going electric, now might be the perfect time.
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- William Kouch, Editor of Automotive.fyi
