- Tesla is offering special financing on the Model Y Standard.
- Buyers need a 720+ credit score to qualify for the top deal.
- The stripped-down Model Y starts at a base price of $39,990.
As the end of the year draws closer, Tesla has rolled out a set of last-minute offers designed to nudge buyers off the fence, something we’ve come to expect from the automaker in the final stretch of the calendar.
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Arguably the most notable of these is a new financing deal for the entry-level Model Y Standard, now available with 0 percent APR on a 72-month term. That’s six years of interest-free payments, for anyone keeping count.
Read: Tesla Made The Model Y Standard Cheaper By Adding A Headliner To Hide The Glass Roof
The back-to-basics Model Y Standard was introduced a couple of months ago and prices start at $39,990 before destination and taxes. It’s based on the regular Model Y, but lacks many of its key selling points, including the panoramic glass roof and the front light bar. It also has a simpler interior.
Evidently, Tesla was eager to save as much money as possible when designing the car.
Zero Percent, But Not for All
When first launched, the Model Y Standard wasn’t included in Tesla’s promotional financing, but things have changed. It’s now available at 0 percent APR. However, this financing deal is only available if you’re willing to put down at least $2,069 at signing.
Additionally, you’ll need an excellent credit rating of 720 or above to get the deal. If your credit rating is between 680 and 720, the APR rises to 0.99 percent, or 1.99 percent with a 640-679 credit rating, and 2.99 percent with a sub-640 credit rating.
Tesla is offering the 0 percent financing deal for its 36-, 48-, 60-, and 72-month terms, but not its longest 84-month term.
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Extras On the House
But wait, there’s more. Tesla is also tossing in a few extra incentives for EV buyers choosing from existing inventory. Depending on the car, some models are now being offered with one complimentary upgrade. A quick scroll through Tesla’s site shows examples with larger wheels, premium paint finishes, or the optional white interior included at no additional cost.
Whether this last-minute round of offers will give Tesla the year-end bump it’s chasing remains to be seen.
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