As the end of the third quarter approaches, Tesla has rolled out a new incentive for U.S. customers interested in buying a Model 3 or Model Y. Tesla is offering a special promotion where buyers can drive away with one of these vehicles without paying anything upfront.
This limited-time offer applies to the Model 3 Long Range and Performance versions, as well as the Model Y Long Range and Performance.
What Does the $0 Due at Signing Promotion Offer?
This new offer gives qualified buyers the chance to get a Model 3 or Model Y with $0 due at signing when they finance their purchase. To take advantage of this deal, buyers must apply for the $7,500 federal tax credit at the point of sale. In addition to this, they can enjoy a 2.49% APR on their loan payments for up to 60 months on the Model 3, and up to 72 months for the Model Y.
For customers looking for even lower interest rates, there’s an option to make a 20% down payment. With this, buyers can lock in a 1.99% APR for their Model 3 or Model Y. This rate is available for loan terms of 36 to 72 months for the Model Y and 36 to 60 months for the Model 3.
Who Is Eligible for the Promotion?
Tesla has made it clear that these promotional rates are available only to qualified buyers with good credit. To qualify, customers need to place their order and take delivery of their vehicle by the end of Q3 2024. This special offer applies to new orders placed starting from September 12, 2024.
Tesla’s Announcement and Communication
Tesla is actively promoting this new incentive to potential buyers through social media and direct communication. The company’s Tesla North America account shared details of the promotion on the social media platform X (formerly known as Twitter). They’ve also been sending out messages to prospective buyers, emphasizing the benefits of the $0 down payment deal.
“Drive home a new Model 3 today with $0 due at delivery. Take delivery by September 30, 2024, and get $0 due at delivery plus 2.49% APR financing on a new qualifying Model 3 for up to 60 months when you apply the Federal Tax Credit at point-of-sale. Alternatively, put down 20% and get 1.99% APR financing on a qualifying Model 3 for up to 60 months.”
Will This Promotion Boost Sales?
The Model 3 and Model Y are Tesla’s best-selling vehicles, making up a large portion of the company’s sales each quarter. By offering this $0 due at signing promotion with attractive financing options, Tesla hopes to encourage more customers to place orders before the end of the quarter. It will be interesting to see how this new incentive impacts sales of the Model 3 and Model Y in the U.S. during September.
Don’t Miss the Opportunity
Tesla’s $0 due at signing promotion is a great opportunity for those considering a Model 3 or Model Y to get behind the wheel without an upfront payment. With the added bonus of low-interest rates and the federal tax credit applied at the point of sale, this offer makes Tesla’s top-selling EVs even more accessible to qualified buyers.
If you’re in the market for a new electric vehicle, now might be the perfect time to take advantage of this deal.