Tesla China has recently announced the extension of its zero-interest rate promotion for the Giga Shanghai-made Model 3 and Model Y until the end of September. This offer allows customers to order and take delivery of their vehicles before September 30, 2024, which marks the final day of the third quarter.
The zero-interest loan promotion is available for loan periods of up to five years for both the Model 3 and Model Y. With this incentive, customers can acquire the reengineered Model 3 for as low as RMB 2,533 ($355) per month and the Model Y for as low as RMB 2,833 ($397) per month with an RMB 79,900 ($11,220) downpayment.
It’s important to note that the zero-interest promotion is specifically for the base models of the Model 3 and Model Y, including the Rear Wheel Drive (RWD) and Long Range Dual Motor All Wheel Drive (AWD) variants. The Performance models are not included in this promotion.
For customers who prefer not to take advantage of the zero-interest loan offer, there is also an option for a low-downpayment plan. This plan entails a low downpayment of RMB 45,900 ($6,450) for either the Model 3 or Model Y, with an annual fee rate as low as 0.5%, equivalent to an annualized interest rate of 0.92% for a 1-5 year loan.
Currently, the Giga Shanghai-made Model 3 RWD and AWD have an estimated wait time of 3-5 weeks, while the Model Y RWD and AWD have an estimated wait time of 1-3 weeks, according to Tesla China’s official website.
As Tesla China gears up for the final month of the third quarter, promotions like the zero-interest loan offer could attract a significant number of orders from local customers. This focus on meeting domestic market demand could lead to a successful close to Q3 2024 for the electric vehicle maker.
For more information or news tips, feel free to contact us at simon@teslarati.com. Tesla China’s extension of the zero-interest loan offer for the Model 3 and Model Y until the end of Q3 presents an exciting opportunity for customers looking to purchase these popular electric vehicles.