Tesla Offers 0% APR Financing to Boost Model 3 Sales

Key Takeaways

1. The Model 3 sales have dropped significantly, with an 81% decline in Australia and nearly a 50% decrease in Europe.
2. In the US, Tesla introduced a 0% APR financing offer for the Model 3 to boost sales before quarterly results are reported.
3. The financing offer requires a 15% down payment and is available for a 5-year term, with additional options for 72-month financing at 0.99% APR.
4. Monthly payments for the Model 3 can range from approximately $540 to $748, making the financing option competitive compared to the average new car payment of $737.
5. Anticipation for the Model Y Juniper refresh and external factors like brand boycotts are impacting Model 3 sales negatively.

With the new Model Y Juniper refresh and Elon Musk’s political activities, the Model 3 seems to be facing tough times, as its sales have dropped significantly around the world.

Sales Drop in Australia

In Australia, factors like a brand boycott and anticipation for the Model Y Juniper refresh, set to arrive in May, have led to an astonishing 81% decline in Model 3 sales. Over in Europe, Tesla’s sales figures have almost been cut in half since the start of this year, even though other electric vehicle brands are experiencing growth.

US Market Challenges

The situation in the US isn’t looking great either, as Tesla has rolled out a 0% APR financing offer for its most affordable vehicle. This move aims to sell as many Model 3s as possible before the company has to disclose its quarterly sales results.

Financing Details

This 0% financing offer requires a minimum down payment of 15%, excluding fees and taxes, and is only available for a 5-year financing term. Buyers with good credit who qualify for the $7,500 federal EV tax credit can use that amount as their down payment. For those opting for a 72-month financing term, Tesla also has a 0.99% APR rate available.

To sum it up, a Model 3 Long Range RWD can now be financed for around $540 per month, while the high-end Model 3 Performance version would cost approximately $748 monthly. The average car payment for a new vehicle in the US stands at $737, making Tesla’s 0% APR offer quite attractive. However, it remains uncertain how many people will take advantage of this deal, especially with the new Model Y just hitting the market.

Additional Offer

You can also find the 80A Tesla Gen 2 Wall Connector with a 24-foot cable available on Amazon.

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