Tesla offers 0% Model Y APR financing rate and 0.99% no down payment FSD deals to celebrate Robotaxi launch

Tesla has started offering a record low 0% Model Y APR financing rate deal that is also in play for the Model 3. Model Y buyers can choose either the new 0% loan rate, or the previous, zero down payment promotion that it extended into the holiday quarter as well.

Instead of the 5.29% APR rate that has been made available for the zero down payment offer since the beginning of the month, however, Tesla is now charging just 0.99% APR for all but the 84-month term that has now dropped from 6.29% to 2.99%, too.

Both the 0% Model Y APR financing deal and the 0.99% loan rate that comes with no down payment are valid with an FSD purchase, though, and Tesla is specifically tying up the offers to the Robotaxi unveiling on October 10.

0% APR When You Purchase FSD (Supervised) To celebrate the unveiling of the future of autonomy taking place at our We, Robot event on October 10, 2024, we’re giving you the opportunity to get Model 3 or Model Y with 0% APR* financing for up to 72 months when you purchase a new vehicle with Full Self-Driving (Supervised).

0% Model Y APR vs 0.99% zero down monthly payments

• $596/month (Model Y RWD 0% APR and 7% down)
• $671/month (Model Y RWD zero down payment)

As can be seen, the difference in monthly payments for a 72-month loan term between the two Model Y APR deals is not all that big because no money down comes with a slightly higher interest rate. For the Tesla Model 3, the 0% APR financing rate with FSD purchase brings a $561 monthly payment for the base RWD model, while the 0% down deal comes with 0.99% APR loan, resulting in a $635/month outlay.

Needless to say, this is for a retail Model 3 and Model Y price with the $7,500 federal tax credit deducted at the point of sale, for which all Model 3 vehicles qualify now that Tesla removed the base RWD version from its US roster.

Tesla has been gradually lowering the price of its Full Self-Driving (Supervised) feature, or offering various incentives to increase its uptake during the past year or so. The trend became rather noticeable after Elon Musk decided to put the affordable Model 2 on the back burner in favor of going all in on vehicle autonomy and the Robotaxi launch.

In order to make its Robotaxi and CyberCab ride-share platform ideas work, Tesla will need a lot of miles driven on FSD to present to regulators and statistically prove that autonomous vehicles are safer than human drivers. Elon Musk expects this to happen some time next year, as he has pegged the first Robotaxi ride for 2025.

Tesla is not wrong to expect that the unprecedented 0% Model Y and Model 3 APR financing rate deal will both drastically increase the sales of FSD-equipped vehicles in the US, and move Model Y inventory ahead of its Juniper refresh release expected for next quarter. 

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