Tesla announces 1.99% APR financing on Model 3

Tesla today announced a 1.99% APR (Annual Percentage Rate) for Tesla Model 3 in the U.S. This financing offer will bring a big benefit for customers who want to finance a new Model 3.

The offer is available on Model 3 Rear Wheel Drive (RWD) and Long Range version for 36 months of financing. The new 1.99% APR is down from 6.39% APR. On the other hand, the company is offering 4.99% APR on 48 and 60-month terms.

You can order between June 6 and June 16 to become eligible for financing. However, this offer is not available on Model 3 Performance.

Tesla Model 3 1.99% APR (Source – Tesla)

With a 1.99% APR for 36 months, the Tesla Model 3 RWD is estimated at $1,034 per month. This model with 48 monthly terms and a 4.99% APR will cost $832 per month. The Model 3 Long Range version with 1.99% APR will cost $1,285 per month and $1,034 per month for 48 months term.

Tesla Model 3 rear-wheel drive version is priced at $38,990 purchase price and the long-range all-wheel drive version is priced at $47,740. Both of these versions aren’t eligible for Federal tax credit. On the other hand, the Tesla Model 3 Performance version is priced at $54,990 and eligible for tax credit.

Just recently, Tesla launched 0.99% off Tesla Model Y in the US but the offer was concluded on May 31.