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Tesla Offering Absurdly Low Finance Rate On U.S. Model Y Vehicles Until End Of May: 0.99%

Tesla is offering an absurdly low rate of financing on Model Y vehicles in the U.S. until the end of May. It's just 0.99%!
Tesla Offering Absurdly Low Finance Rate On U.S. Model Y Vehicles Until End Of May: 0.99%

Tesla Offering 0.99% Financing On Model Y Vehicles Until End Of May

Tesla has greatly reduced interest rates on the Model Y until the end of May. This could mean that Tesla is going to finance the Model Y vehicles until the end of May, whereas a bank generally does for loans of vehicles (or homes).

This means that the monthly payment will be substantially lower when purchasing a Model Y for the month of May in the U.S.

The payments look like so when you compare before and after monthly payments:

Monthly car payment before the special loan rate of 0.99% APR:

  • Model Y Long Range RWD: $706/month
  • Model Y Long Range AWD: $756/month
  • Model Y Performance: $815/month

Monthly car payment after the special loan rate of 0.99% APR:

  • Model Y Long Range RWD: $600/month
  • Model Y Long Range AWD: $643/month
  • Model Y Performance: $693/month

This applies to loans for 3, 4, 5, and 6 years.

In addition to this, Tesla is offering a 7-year loan at 2.99%, which is still a GREAT deal.

For many people, saving $100 or more a month is a big deal when considering getting a car payment. With the $7,500 EV tax credit, a Model Y long range RWD becomes a very good value.

Its base price is $44,990, just like the old Model 3 RWD used to be, which I bought back in 2022. However, it gets a $7,500 tax credit and a very low interest rate of 0.99%.

Tesla is clearly testing out a new strategy for its vehicles, which may help it not to have to lower prices anymore.

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Is Tesla Doing Its Own Financing?

In order to truly know if Tesla is doing its own financing, one would have to buy a Model Y using the finance option. If it is true that Tesla is doing its own financing, you would see your monthly payments go to Tesla.

For my Model 3 RWD I bought in 2022, I made monthly payments to Wells Fargo until I paid the loan off a couple months ago early.

I think it's a great strategy if Tesla is doing its own loans and payments. It means Tesla gets the monthly payments for its vehicles and the interest - even if a small amount of interest with 0.99%.

This is a special promotion, so there is no telling when Tesla will do something like this again - if ever.

If you're in the market for a Model Y, now is as good a time as any to get one.

For Further Reading: The Latest Version of Tesla’s (Supervised) Self-Driving Will Astonish Your Mind: Robotaxis Will Start In China

What do you think about Tesla offering 0.99% financing on the Model Y until the end of May?

Share this article with friends and family and on social media - or leave a comment below. You can view my most recent articles here for further reading. I am also on X/Twitter where I post more than just articles daily, as well as LinkedIn! Thank you so much for your support!

Hi! I'm Jeremy Noel Johnson, and I am a Tesla investor and supporter and own a 2022 Model 3 RWD EV and I don't have range anxiety :). I enjoy bringing you breaking Tesla news as well as anything about Tesla or other EV companies I can find, like Aptera. Other interests of mine are AI, Tesla Energy and the Tesla Bot! You can follow me on X.COM or LinkedIn to stay in touch and follow my Tesla and EV news coverage.

Image Credit: Tesla, Screenshot

Article Reference: Tesla

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