Model Y zero down payment deal extends into Q4 without the 1.99% APR financing offer

Tesla is seemingly ready with the holiday Model Y promotions, as it barely waited to ring in the fourth quarter and the first Model Y deal is out as a deadline extension of an existing offer.

It comes in the form of a Model Y lease with zero down payment, allowing buyers to walk with a Model Y off the lot without plunking anything. Granted, it did introduce a similar 0% down deal just a couple of weeks ago, but that was to pad the Q3 shipment numbers, which may show that the Model Y has become the bestselling vehicle in the US, edging out the Toyota RAV 4.

With this Model Y deal, the world's most popular vehicle for 2023 can now be had for$633/month at no money down with the typical 72-month financing scheme.

If that sounds more than the$580/month after the federal tax credit that one had to pay with the same deal last quarter, it is because Tesla has removed the APR financing discount from the equation. In the previous zero-down promo, Tesla raised the APR slightly from the promotional 1.99% to the still excellent 2.49% rate for all but the 84-month leases.

Unfortunately, now all Tesla Model Y financing promos are gone, so Tesla made good on that particular deal deadline at least. Regardless of whether one buys a Model Y with a 0% down payment, or gives Tesla some cash upfront, the APR has more than doubled to 5.29% compared to last month's zero-down offer.

What's more, if one chooses the 84-month financing period, they will be in for the unpleasant 6.29% APR surprise on the Model Y, so the new deal is actually weaker than the one Tesla introduced last month.

Tesla is reporting quarterly sales results today, though, and there is still plenty of time for it to introduce the Model Y financing rate discounts that buyers are waiting for.

After all, it will need to pad the Q4 numbers as well, and the Model Y Juniper refresh release is just around the corner, slated to launch next quarter with a laundry list of specs and design changes that could usher in a Model Y upgrade super cycle.

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