Tesla slashes Model Y APR financing rate and intros leasing price deal with free option upgrade

As the Model Y tax credit is long gone and Tesla has already introduced the long-awaited cheaper Standard and powerful Performance models, it is now looking for more familiar ways to boost sales.

The Model Y and Model 3 APR financing interest rate has been cut by more than half to 1.99% for a 72-month term, and Model Y monthly payments now start from $638/month.

Free Model Y leasing upgrades

Leases are cheaper now, too, thanks to a 9.5% lower starting price, so a Model Y Premium RWD is priced at $479/month for a 3-year term that involves a $3,000 down payment.

Since most people are leasing their Teslas, however, the EV maker is now throwing in a free upgrade deal that includes one interior or exterior option gratis, too.

• Free Pearl White Multi-Coat, Deep Blue Metallic, Diamond Black, Quicksilver or Ultra Red colors.
• Free 20" Helix 2.0 all-season wheels
• Free white interior with perforated vegan leather upholstery.
• Free class II steel tow hitch rated for 3,500 lbs.

Tesla Model 3 lease deal 

The Model 3 lease deal, however, is way more generous since Tesla has cut 23% from the starting lease price. One can now lease a Model 3 from just $329 a month, and Tesla is having the same 1.99% APR financing deal for the Model 3 it introduced for the Model Y.

The free option upgrade for each leasing contract is valid for the sedan, too, so Tesla is giving away the Pearl White Multi-Coat, Deep Blue Metallic, Diamond Black, Quicksilver or Ultra Red colors. One can also choose the 19" Nova Wheels upgrade, as well as a free white interior.

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