Tesla increase referral reward to $2000 for new customers and $1000 for referrer

Tesla has announced an increase in the referral reward program for new customers with up to $2,000 off on new electric vehicle (EV) purchases and it will add up to $1,000 for referrers.

Earlier this year, Tesla discontinued its previous Refer and Earn program and confirmed a refreshed referral somewhere this year.

In August, the EV maker launched this new referral program, allowing customers to get $1,000 off on new purchases using a referral link. Meanwhile, the referrer could get $500 in reward credit.

What’s new in this update?

Model Y and 3 customers will get $1,000 off the final purchase price. On the other hand, the Model S, X, and Cybertruck buyers will get $2,000 off.

The program mechanics remain the same. A user needs to generate a referral link from their profile via a mobile app and share it with friends, family, or online. A new customer has to use that link to redeem this offer.

Terms

Buyers can benefit once from the referral link and referrers can benefit from these rewards up to 10 times a year. This limit and reward points will reset every calendar year.

Earned reward credit can be spent on Supercharging, software upgrades, merchandise, or service payments.

Tesla referral program reward increase to $2,000 for new customers (Source – Tesla)

Maximize savings

Among these, Model Y and Model X owners can benefit from different offers including the following:

1. Federal Tax Credit – Tesla Model Y and Model 3 variants are eligible for a $7,500 federal tax credit on direct purchase or financing.
2. 0% APR – Tesla is running a promotional 0% financing rate for these models for up to 60 months.
3. $0 Downpayment – You can also benefit from zero downpayment financing at 1.99% APR for up to 72 months.
4. FSD and Supercharging – When you order a new Model 3, Y, S, X, or Cybertruck and take the delivery before December 31, 2024, the company will offer you three months of free FSD and Supercharging.

If you are a new customer, it’s suggested that you use a referral link to max out your vehicle savings.