Tesla announces the end of the Model 3 and Model Y 0% APR financing offer

In a sign that its Model 3 and Model Y shipments in the US are going well, Tesla has put an endpoint to the popular 0% APR financing offer for its two bestselling electric vehicles.

Introduced in October, the Model Y 0% interest rate made many hesitant buyers pull the trigger, as it effectively lowered their monthly payment for the base RWD version to $581 with just 8% or $3,999 down for a 60-month term after the federal tax credit.

Previously, the 0% Model Y APR financing was only available if the buyer also purchases Tesla's Full Self-Driving (Supervised) feature, but afterward Tesla decided to introduce its best ever interest rate deal to bring the fiscal year to a close with a bang.

When does the Model Y 0% APR financing offer end?

• December 15, 2024

Tesla's 0% interest rate deal, however, is only valid for those buyers who take a Model 3 or Model Y delivery by December 31. Seeing as it often takes some time to configure the car and get it delivered, Tesla announced that it will be ending the 0% Model Y APR financing promo on December 15.

This will give a chance to those who order by that date to take delivery by the end of the year and take advantage of the zero interest rate payments. Those who order after December 15 might not get the cars by December 31, holiday schedule and all, so continuing the promo after the December 15 cutoff would have been pointless anyway.

Putting a deadline for Model 3 and Model Y orders that qualify for the 0% APR would also encourage more of those who are on the fence whether they should buy one, now that the Model Y Juniper refresh is on the horizon.

For the Model Y, Tesla is offering 0% APR for 36-, 48-, and 60-month financing periods, whereas for the Model 3 0% financing is only valid for the 36-month term.

Tesla has plenty of other ongoing promos left, though, such as free FSD transfers and free Supercharging trials, while its referral credits just got doubled to $2,000, so the last quarter of the year might be a blockbuster in terms of sales, 0% APR promo end or not.

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