Tesla is offering an incredibly low finance rate on U.S. Model Y vehicles until the end of May: just 0.99%

Tesla is making it easier for customers to purchase a Model Y with a special financing offer of 0.99% APR until the end of May. This move by Tesla could potentially change the way people buy cars, as the company is offering financing directly rather than through a traditional bank.

The reduced interest rates mean that monthly payments for the Model Y will be significantly lower for the month of May in the U.S. For example, the monthly payment for a Model Y Long Range RWD could drop from $706 to $600, while the Model Y Performance could see a decrease from $815 to $693.

In addition to the 0.99% APR offer, Tesla is also providing a 7-year loan option at 2.99% APR, which is still a great deal for customers. With the $7,500 EV tax credit, the Model Y becomes an even more attractive option for buyers.

It is unclear if Tesla is handling the financing directly, but if they are, it could be a strategic move to secure monthly payments and interest for their vehicles. This special promotion may not last long, so now is the time for those in the market for a Model Y to take advantage of this offer.

Overall, Tesla’s financing offer on the Model Y is a game-changer in the automotive industry and could pave the way for more innovative financing options in the future.