Tag: 0% APR Financing

  • Tesla Model 3: 0% APR Financing, Free Colors & White Interior

    Tesla Model 3: 0% APR Financing, Free Colors & White Interior

    Key Takeaways

    1. Tesla has reintroduced a 0% APR financing option for the Model 3 to boost sales amid competition from the Model Y.
    2. The new financing terms are more flexible, offering 0% APR for 3-year, 4-year, and 5-year loans with a 15% down payment.
    3. Buyers can use the federal tax credit as part of the down payment, and the promotional rates are available for well-qualified buyers after April 24, 2025.
    4. Purchasers of the Model 3 Performance version will receive $2,000 worth of additional options for free, enhancing the vehicle’s appeal.
    5. The FSD transfer offer remains available for those upgrading from older Model 3s to the latest hardware for unsupervised FSD capabilities.

    The last time Tesla presented a 0% APR financing offer, it was attempting to enhance Model 3 sales, which were declining due to the new Model Y launch and general issues with the brand.

    New Financing Terms

    Now, the 0% APR financing option for the Model 3 is back, and it’s accompanied by more attractive conditions and some added perks. Previously, last month, the zero interest rate financing was restricted to a 5-year loan with a 15% down payment, even though sales of the electric sedan had dropped leading up to the Model Y Juniper refresh.

    Expanded Financing Options

    The sales of the Model 3 may still need a boost, as Tesla is rolling out a much broader 0% APR financing offer. This time, the zero interest financing is available for all popular loan terms: 3-year, 4-year, and 5-year.

    Buyers of the Model 3 still need to pay at least 15% of the car’s price upfront, but they can utilize the federal tax credit discount for their down payment, Tesla mentions. The company clarifies that these are “promotional rates valid for well-qualified buyers with excellent credit who order Model 3 after April 24, 2025,” indicating that the 0% APR financing might extend until the end of the quarter, similar to the new free FSD transfer offer.

    Special Offers for Model 3 Performance

    To make the deal even better, those purchasing the high-end Tesla Model 3 Performance version will receive $2,000 worth of options at no additional cost. This includes the Deep Blue Metallic and Pearl White multi-coat colors, as well as a black and white interior, each valued at $1,000, when buying a Model 3 Performance.

    Instead of providing a direct $2,000 discount like it does for the new Model Y for buyers coming from older legacy models, Tesla is offering these options for free. However, the FSD transfer offer is still available for those upgrading from an older Model 3 to the HW4 suite of cameras and computer, which will allow operation of unsupervised FSD without any retrofitting.

    Source:
    Link

    Tags: , ,
  • Tesla boosts 0% APR financing on Model Y, top-selling EV in China

    Tesla boosts 0% APR financing on Model Y, top-selling EV in China

    Key Takeaways

    1. Tesla sold 43,370 units of the updated Model Y in March, becoming the top seller of electric vehicles in China.
    2. The company recorded 23,000 new Model Y sales in one week, marking its third-highest sales week in China.
    3. Tesla increased the price of the AWD Model Y by around $1,380 due to longer delivery times, while the RWD version had shorter wait times.
    4. A 0% APR financing offer has been extended to all trims of the Model Y in China until the end of April, aiming to sustain sales momentum.
    5. Tesla’s sales in Europe may face challenges, with upcoming Q1 delivery figures expected to show weaker performance outside of China.

    Tesla has emerged as the leading seller of electric vehicles in China, having delivered an impressive 43,370 units of the updated Model Y in March.

    Strong Sales Week

    In just the past week, Tesla recorded sales of 23,000 new Model Y cars, based on insurance registration data, making it their third-highest sales week since they began operations in China. To maintain this strong sales trend, Tesla has broadened its 0% APR financing offer for the RWD Model Y facelift, now including the non-Launch Series AWD variant, which has been available in China since February.

    Delivery Times and Pricing Adjustments

    Normally, Tesla’s sales mix is about 80% RWD models in that market. However, last month saw longer delivery times for the AWD Model Y, prompting a price increase of around $1,380 to balance demand with production output from Giga Shanghai. At that time, the RWD trim had a delivery window of just 2-4 weeks, while the AWD orders were facing wait times of 6 to 10 weeks. With the introduction of the 0% APR financing for the RWD version, Tesla successfully boosted orders, allowing them to reduce the AWD delivery timeframe to 3-5 weeks.

    Financing Offers Extended

    Even though the pricing for the dual-motor Model Y facelift remains unchanged, Tesla has now applied the same 0% APR financing offer to the AWD model too. This financing deal for all trims of the Model Y in China will be available until the end of April, set for a 36-month payment term. Tesla seems eager to keep the sales momentum rolling into the second quarter, despite having already served many early adopters of the new Model Y.

    In contrast, Tesla’s sales in Europe might be facing challenges, possibly linked to Elon Musk’s political activities. However, the upcoming quarter could clarify if this is indeed the reason for the dip in demand, or if potential buyers are simply waiting for the new Model Y refresh to hit the market.

    Regardless of the cause, Tesla is scheduled to release its Q1 delivery figures on April 2nd, and those numbers are anticipated to be less impressive outside of China.

    Source:
    Link

    Tesla boosts 0% APR financing on Model Y, top-selling EV in China
    Tags: , ,