Tesla's New Model 3 Promotion: A Game-Changer for Electric Vehicle Enthusiasts

Tesla has once again captured the spotlight with its latest promotional offer for the Model 3. Starting August 1, 2024, Tesla is offering an enticing 1.99% APR financing rate for well-qualified buyers. This promotion is set to run until August 31, 2024, with deliveries required by September 30, 2024.


The 1.99% APR financing rate is a significant reduction from the usual rates, making the Model 3 more accessible to a broader audience. This offer is available for the Model 3 Long Range Rear-Wheel Drive (RWD), Long Range All-Wheel Drive (AWD), and Performance models, but excludes the base Model 3 RWD.


Tesla's promotional rate is designed to drive up sales in the third quarter of 2024. The Model 3, starting at $34,990 (before estimated savings), becomes even more attractive when considering the potential $5,000 savings in gas costs over five years and the $7,500 Federal Tax Credit for eligible buyers. However, it's important to note that the Model 3 Rear-Wheel Drive and leases do not qualify for the Federal Tax Credit.


The promotion offers flexible financing terms, including 36, 48, 60, and 72-month plans, with the option of a $0 down payment. This flexibility allows buyers to choose a plan that best fits their financial situation. However, finance purchases are not eligible for Tesla’s Supercharging incentive.


To take advantage of this offer, buyers need to have excellent credit. Tesla's website provides a credit rating tool to help potential buyers estimate their monthly payments based on their applicable rate. It's worth noting that not all applicants will qualify for the promotional rate, and the offer is subject to change based on credit approval and available rates at the time of the credit application.


Tesla's 1.99% APR financing promotion for the Model 3 is a strategic move to boost sales and make electric vehicles more accessible. For those who qualify, this offer presents a fantastic opportunity to own one of the most innovative electric vehicles on the market today. If you're considering a new car, now might be the perfect time to make the switch to electric with Tesla.


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Source: Tesla North