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In another effort to pull in new buyers, Tesla has just sent out a new offer. You can now buy a brand new Tesla Model 3 — with all of its recent upgrades — and pay $0 at delivery. (Of course, you still have to pay for the car eventually, but not having to put any money down can help out many buyers.)
Furthermore, if you take delivery by September 30, along with this $0 due on delivery, you can get financing for as low as 2.49% APR. (The federal interest rate is currently 5.50%, so that means Tesla is subsidizing the interest rate for you.) Note that these opportunities are available if you apply the federal tax credit for EVs at the point of sale.
There’s another option if you don’t mind putting some money down in order to get an even lower interest rate. If you put 20% down, you can get a 1.99% APR.
Both of these low-interest-rate offers are for loans up to 60 months in length.
Here’s a screenshot of the brief email Tesla just sent along:
You can also get $1,000 of using a Tesla owner’s referral code. If you’re in need of such a code, you’re free to use mine: https://ts.la/zachary63404
Just go ahead and start your order there, and on the second step you’ll see the various finance, lease, or cash purchase options.
Yes, I do recommend the white interior! Especially if you live in a hot climate. It’s the #1 recommendation I’d make above every other. Image courtesy of Tesla.
Stepping back and looking more broadly at the Tesla story, this new offer, including the September 30 deadline, imply to me that Tesla doesn’t naturally have enough consumer demand to move all of the vehicles it wants to move in the United States. It keeps coming up with new incentives, like this brand new $0 down one, in order stimulate more sales. If the company naturally had consumer demand for all the vehicles it can produce, we wouldn’t be seeing artificially low APR options, $0 down options, or even the revived referral bonuses.
That doesn’t mean Tesla is facing a consumer demand or sales crisis. Perhaps these mild incentives will result in Tesla selling all the vehicles it could produce in the 3rd quarter in the United States. Perhaps. We’ll see soon what Tesla is able to achieve this quarter.
One positive thing I’d note here is that Tesla didn’t resort to this new incentive until late in the quarter, just a couple of weeks before the quarter ends. That implies that it wasn’t facing a severe consumer demand challenge earlier in the quarter. Also, unless I’m mistaken, a $0 down option isn’t the most dramatic or challenging for the company. It may pull in many more buyers (maybe), but I don’t think it’ll cost Tesla much.
What are your thoughts on the new $0-down Tesla pitch? And will you or anyone you know now make the final decision to buy a Tesla thanks to this new offer?
Photo by Zach Shahan | CleanTechnica
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