Connect with us

Gadgets

Tesla aims to jumpstart Model Y sales with new incentives to attract US buyers

Published

on

Tesla aims to jumpstart Model Y sales with new incentives to attract US buyers

Summary

  • Tesla is offering new purchase incentives for the Long Range All-Wheel Drive Model Y in the US.
  • The incentives include 1.99 percent APR financing or $0 due at signing for well-qualified buyers.
  • The Long Range All-Wheel Drive trim of the new Model Y only launched in early April, signaling soft demand for the car after a tough first quarter for Tesla.

Tesla has had a
challenging year so far, and to boost the sales of one of its latest
Model Y trims, the automaker is offering new purchase incentives.

For well-qualified buyers, Tesla is now offering 1.99 percent APR financing or $0 due at signing for the Long Range All-Wheel Drive (AWD) trim of its new Model Y.

This is the first time a deal like this has been available for the new Model Y in the US, coming just a month after the AWD trim first became available to order.

Tesla Model Y (2025)

Tesla is offering 1.99 percent financing for new Model Y Long Range All-Wheel Drive orders.

The new Model Y is eligible for a federal tax credit

A 15 percent down payment is required for 1.99 percent APR financing

The Long Range AWD trim of the new Model Y starts at $48,990. Luckily, it is eligible for a federal tax credit in the US amounting to $7,500, which helps bring the cost of the electric SUV down to $41,490. By taking advantage of Tesla’s new 1.99 percent APR incentive, you could save a couple of thousand dollars in the long run. Alternatively, you can choose the $0 due at signing option. However, this comes with a higher APR percentage, which may not be worth it.

To qualify for the 1.99 percent APR financing promotional rate, US buyers must make a down payment of at least 15 percent. According to Tesla, the $7,500 federal tax credit can be applied toward the down payment on the car. Delivery estimates for the Long Range AWD Model Y are one to three weeks. Full terms and conditions can be found on Tesla’s website.

It’s interesting to see Tesla launch a financial incentive for this Model Y trim so soon after its release. As Electrek notes, this could indicate soft demand for the new Model Y in the US. In 2024, the Model Y was the best-selling electric vehicle in the US, and if Tesla’s first quarter results are any indication, the company is struggling to sell vehicles at a pace it once maintained.

If the Long Range AWD Model Y doesn’t interest you, Tesla has just launched a more affordable trim: the Long Range Rear-Wheel Drive (RWD) Model Y. It starts at $44,990, or $37,490, after considering the $7,500 federal tax credit. However, there are no incentives or promotional rates available for the new trim yet.

See also  Baidu launches two new versions of its AI model Ernie

Trending