Tesla brings 1.99% APR financing for Model Y in the US

Tesla has once again opened a lucrative financing deal for the Model Y electric car in the US, which will let you buy this model at a 1.99% annual percentage rate (APR).

Tesla Model Y currently comes in three versions – Long Range Rear Wheel Drive (RWD), Long Range All Wheel Drive (AWD), and Performance. These are priced at $44,990, $47,990, and $51,490 respectively. Since these cars are eligible for a $7,500 federal tax credit, all variants will eventually cost:

• $37,490 for the RWD Model
• $40,990 for Long Range AWD
• $43,990 for Performance

The new 1.99% APR on the Tesla Model Y is available on up to 72 months of financing and extends to 3.99% for 84 months. Customers can benefit from this offer by placing an order before August 31 and taking delivery before September 30, 2024.

1.99% APR Financing on Tesla Model Y (Source – Tesla)

In May, the EV maker brought 0.99% APR for the Model Y but only for a month. At the same time, the company kept 82 months financing APR at 2.99%.

A few months ago, Model Y welcomed a Long Range RWD in the US with 320 miles of EPA range. This version tops the existing Long Range AWD which accounts for 308 miles EPA range. On the other hand, the new RWD costs $3,000 less than the AWD version.

Tesla also launched a new energy boost offer for previous Model Y RWD owners to increase the battery range up 50 miles at $1,600. Some models can even buy 30 miles of range at $1,000. This action will lead the range near the new Long Range RWD (320 miles). However, it only applies to Model Y RWD with new battery cells, which could be unlocked with an over-the-air (OTA) software update.

New Model Y buyers can use the ongoing Full Self Driving (FSD) transfers to shift this capability from their existing car to the new one. This service is free of charge but it will last only until September 30, 2024.

The company is also giving away 3 months of free Supercharging when you take the delivery of the new Model Y by August 15, 2024.

(source)