Tesla Launches 0% APR Deal on Model Y, Model 3
Tesla’s future strategy is to offer a lower-priced electric vehicle than the automaker’s current lineup, but for now, two of those vehicles are getting more affordable — for some buyers. Tesla today announced a 0% interest deal on financing for the Model Y compact SUV and Model 3 compact sedan.
Related: Report: Tesla Plans to Launch Cheaper EV In 2025
The EV maker says the deal applies to “well-qualified buyers with excellent credit” who ordered a new Model Y or Model 3 on or after Monday, and buyers must take delivery by Dec. 31. The loan has a 36-month term limit for the Model 3 and a 60-month term limit for the Model Y; a minimum down payment of 20% is required.
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Shop the 2024 Tesla Model 3 near you
The Model 3 received some light updates for 2024, including refreshed exterior styling and an updated interior with revised controls. The Long Range Rear-Wheel Drive variant also returned to the lineup; it pairs a single rear-mounted motor with the Long Range All-Wheel Drive Model 3’s larger battery pack for 363 miles of range, according to the automaker. The 2024 Model 3 starts at $42,490 before any applicable tax credits.
Meanwhile, the Model Y hasn’t changed significantly since it went on sale for model-year 2020, and though rumors otherwise persist, Tesla chief Elon Musk recently said there are no plans in the works for an updated model this calendar year. The 2024 Model Y starts at $44,990 before any applicable tax credits.
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