Source: Gasgoo
Currently, Tesla is offering customers in the United States for a limited time with a large discount loan and the interest rate is only 0.99%. The company hopes to boost orders of the Model Y .
Elon Musk, Tesla’s chief executive, has said that the company has experienced a drop in demand over the past year, largely due to high interest rates.
Most U.S. consumers take out loans when they buy cars, and current interest rates of 5 to 7 percent can add thousands of dollars to the cost of any new vehicle.
Image source: Tesla X
Last month, Tesla launched zero-interest loans in China in an attempt to boost sales in its key auto market. Tesla has launched a similar service in the United States now, where the company announced that it will offer a 0.99% interest rate loan product to customers who purchase the Model Y by May 31.
For customers who buy the new long-range rear-drive version of Model Y, the monthly payment before the tax credit is $603. If eligible for a federal tax credit ($150,000 or less for an individual or $300,000 for a combined family), consumers’ monthly payments would be just $499. In addition, buying an electric car can help consumers save money on gasoline.
The 0.99% interest rate, which is close to zero interest, is very attractive to many consumers, and it allows consumers to pay only $500 to $600 a month to buy the world’s best-selling electric model.
