Tesla extends 1.99% Model Y APR financing offer that brings sub-$400 monthly payments to some states

Tesla has removed the Model Y's 1.99% APR deal order deadline of August 31 from its website.

It seems that the 1.99% Model Y financing rate offer continues, although delivery still has to be taken by the end of this month to take advantage of the deal.

Such Model Y or Model 3 APR offer deadline extensions have been a pattern for Tesla this year as it is battling a sales slump in a softer EV market.

Back in May, for instance, Tesla announced an even more generous, 0.99% APR Model Y financing rate. It, however, brought the monthly payments for its most popular vehicle below those for the Model 3 that didn't qualify for federal tax credits.

Tesla then dropped the Model 3 APR from 6.39% to 1.99% back in June to level things off, ostensibly until June 16, but the offer still stands.

It can now be cooking something similar with the current 1.99% Model Y financing rate deal deadline extension. If history is any indication, it could keep the offer until year's end, or reintroduce it in Q4 to keep the shipment numbers going.

With the 1.99% financing rate, the monthly lease payments of a brand-new Model Y can be brought to under $400 in ten states with the highest level of incentives now, or even below $200 in the incentive champ Colorado.

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After federal & state incentives + gas savings, you can get a new Model 3 or Y for as little as ~$15k pic.twitter.com/Ds4lHfiDbZ

— Tesla (@Tesla) August 9, 2024

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