Tesla China introduces zero-interest financing over a period of five years for the purchase of the new Model Y
Tesla China Extends Financing Offer for Updated Model Y
Tesla China has announced an extended financing package for its updated Model Y, making it more affordable for customers. The offer, available until the end of June 2025, includes a five-year low-interest financing option specifically for the six-seat Model Y L variant.
The five-year low-interest financing comes with a down payment of approximately RMB 45,900 (around $6,400) and monthly payments spread over five years. There is also a three-year zero-interest financing plan with a minimum down payment of RMB 90,900 (around $12,700) and a 36-month monthly payment period available for this Model Y L variant.
However, the extended financing offer does not seem to apply explicitly to the Rear-Wheel Drive (RWD) Model Y variant. Currently, the RWD Model Y offers shorter-term lease options, with a 36-month lease at $399 per month with a $3,000 down payment, or $482 per month with no down payment, limited to an annual mileage of 10,000 miles.
Early buyers of the Model Y L in China will also benefit from a RMB 8,000 ($1,100) paint voucher and various charging package deals. Deliveries for the new Model Y L are expected to start around September 2025 in China.
Tesla's local sales in China increased by 18.8 percent in March 2023, with 48,189 Model Y's sold out of a total of 74,127 vehicles. Tesla continues to promote the Model Y in China, offering a five-year interest-free financing option, a deposit of RMB 79,900, and monthly payments of RMB 3,060.
It's important to note that other EV makers in China are introducing faster charging and longer driving ranges, as well as cheaper prices, which may impact Tesla's market position. The RWD Model Y starts at RMB 263,500, while the AWD version starts at RMB 313,500.
In conclusion, Tesla China's extended five-year financing offer with low interest currently applies to the six-seat Model Y L variant. The RWD Model Y retains shorter-term lease options but without mention of extended interest-free financing. The offer is available to customers who purchase the electric SUV before the end of June 2025.
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