Tesla is revving up its sales strategy with a fresh financing offer on the Model Y. As the clock ticks down on the federal tax credit for the Model Y, set to expire on September 30, Tesla is keen to boost sales for the quarter. Previously, the company enticed buyers with a tempting 1.99% APR, which was extended last month to encourage end-of-quarter purchases.
Now, Tesla introduces a new APR financing deal at 3.49%, a drop from the recent 4.99% rate since the beginning of July. This offer is available for those with excellent credit who have ordered the Model Y on or after July 17, and intriguingly, Tesla has yet to specify how long this limited-time deal will last.
Adding to the allure, the minimum down payment requirement has been slashed to just 5% from the usual 15%. Buyers eligible for the tax credit can even use it as part of their down payment. The financing options range from 3 to 5 years, but note that a 72-month option bumps the APR to 5%. Leasing options start at an appealing $349.
For those eyeing Tesla’s inventory, the company has unveiled an enticing upgrade deal. Buyers of pre-produced and in-stock Model Y vehicles can enjoy a complimentary paid upgrade. Delving into Tesla’s inventory reveals options like free color upgrades and enhancements such as 20″ wheel upgrades. Interior upgrades are also up for grabs, ensuring there’s something for every taste.
For example, selecting popular colors like Ultra Red or Quicksilver, which usually come with a $2,000 price tag, can now be part of your purchase for no extra cost. A Long Range RWD Model Y in Quicksilver, after the tax credit, could be yours for $37,490 instead of the original $39,490. However, note that you can’t combine multiple upgrades like a free color and free wheels.
Tesla’s strategic moves seem designed to keep the momentum going while offering potential buyers significant incentives.
