Tesla is rolling out its festive season treats a bit early this year, hitting the ground running in the fourth quarter with an enticing Model Y promotion. The first bang-for-your-buck offer extends a previous zero-down payment lease deal, letting prospective buyers drive off with a new Model Y without any initial cash outlay. This move comes hot on the heels of a similar zero-down deal introduced a few weeks ago to boost third-quarter shipments—potentially making the Model Y the top-selling vehicle in the US, surpassing the Toyota RAV4.
Under this extended offer, the world’s most popular vehicle for 2023 can now be leased for $633 per month with no money down, adhering to a 72-month financing plan. However, if this seems slightly pricier than the $580 per month after the federal tax credit available last quarter, it’s because Tesla has ended its APR financing discount. Previously, the zero-down promotion featured a favorable 1.99% APR, which was slightly bumped to 2.49% for all but the 84-month leases.
Currently, all specific Tesla Model Y financing promotions have been pulled, affirming that the previous deal had a set deadline. Whether you opt for a no-money-down lease or provide some upfront cash, the APR has now jumped to 5.29%—a significant increase from the zero-down offer last month. For those considering the 84-month financing term, be prepared for a hefty 6.29% APR, making the deal less attractive than the one rolled out in the prior month.
Tesla’s quarterly sales results are expected soon, and there’s ample time for the company to reintroduce financing rate discounts in response to buyer demand. The end-of-year promotions might see a resurgence as Tesla aims to maintain robust Q4 numbers, especially with the eagerly awaited Model Y Juniper refresh on the horizon. The upcoming quarter’s version promises enhanced specs and design tweaks, potentially igniting a wave of upgrades among Model Y enthusiasts.
