Tesla Extends 1.99% Financing on Model Y AWD: Don’t Miss Out on the Best Deal!
Hey everyone, DennisCW here! If you’ve been following my channel, you know we’ve been keeping a close eye on Tesla’s financing offers. And guess what? As we predicted, Tesla has quietly extended the 1.99% financing offer for the Model Y All-Wheel Drive (AWD), aligning it with the Rear-Wheel Drive (RWD) offer, both now set to expire on June 30th. I’ve got all the details you need to snag the best deal, plus some insider tips and market insights. Let’s dive in!
The Big News: 1.99% Financing Extension for Model Y AWD
Last night, Tesla updated their website to confirm the extension of the 1.99% financing offer for the Model Y AWD. Initially, you had to place your order and complete a credit application by yesterday to qualify. But now, Tesla has given buyers a bit more breathing room. Here are the key things you need to know:
- Delivery Deadline: You must take delivery by June 30th. If your estimated delivery date falls in July, Tesla likely won’t honor the 1.99% rate.
- Inventory Vehicles: To increase your chances of meeting the deadline, I recommend choosing an inventory vehicle rather than a custom order.
- Down Payment Requirement: You’ll need to put down 15% of the vehicle’s cost. For a Model Y priced between $45,000 and $50,000, that’s roughly $8,000 to $10,000.
- Federal Tax Credit: The good news? If you qualify for the $7,500 federal EV tax credit, you can use part of it to offset the down payment. I’ve seen breakdowns where buyers paid as little as $4,000 out of pocket after applying the credit.
However, there’s a catch: if you’ve received the $2,000 Model Y loyalty offer, you cannot stack it with the 1.99% financing. When you do the math, the interest savings from the 1.99% rate might come close to the $2,000 incentive, especially if you pay off the loan early. So, weigh your options carefully!
How to Lock in This Deal
If you’re ready to move forward, here’s what I suggest:
- Check Tesla’s Website: All terms and conditions for the financing offer are listed there.
- Pre-Qualify: Use the pre-qualification button for a soft credit inquiry to see if you’re eligible without impacting your score.
- Place a Deposit: For a more accurate approval, place the $250 non-refundable deposit and complete the full application.
- Use a Referral Code: Don’t forget to use a Tesla referral code (like the one in the description of my video) to get 3 months of Full Self-Driving for free and support the channel!
I’ve noticed a lot of people rushed to place orders yesterday to lock in the rate before the initial deadline. Looking at the inventory charts, the Model Y stock (the mustard yellow line) dropped noticeably. This could be due to last-minute orders or Tesla potentially pulling vehicles for repricing. Either way, act fast if you want to secure a vehicle by the end of the month!
What’s Happening with Model 3 Inventory?
While we’re on the topic of inventory, let’s talk about the Model 3. The pink line on the inventory chart shows a massive increase in available Model 3 units. Despite the current 0% financing offer on the Model 3, it seems like the incentive might not be moving units as effectively anymore. So, what’s next for Tesla? Here are a few possibilities I’m keeping an eye on:
- Additional incentives like free Supercharging.
- Bundling other perks to sweeten the deal.
- Or, could this spike in inventory hint at a new Model 3 variant—perhaps one with a front bumper camera? (It’s the only Tesla without one currently.) While I don’t think we’d see a major update without leaks, it’s still something to consider.
I’m curious to hear your thoughts! What do you think Tesla will do with the growing Model 3 inventory? Drop a comment below or on my YouTube video.
Pro Tip: Protect Your Credit Before Applying
Before you even think about applying for Tesla financing, there’s one crucial step you shouldn’t skip: protecting your credit. Recently, Bank of America had a data breach and didn’t notify customers for a full month. On average, companies take 277 days to report breaches—leaving your personal info like your Social Security number, phone number, and email exposed for nearly 9 months without your knowledge.
That’s why I use Aura, today’s sponsor, to keep my data safe. Aura constantly scans the dark web for any trace of my personal information and alerts me if something pops up. But that’s not all—it also helps reduce spam calls, removes my data from sketchy broker sites, and offers $5 million in identity theft insurance, all in one easy-to-use app. You can try Aura free for 14 days at aura.com/denniscw (link in the video description too). Don’t wait until it’s too late—protect your credit now, just like I do. It’s like turning on Sentry Mode before your car gets keyed!
Final Thoughts
Tesla’s extension of the 1.99% financing on the Model Y AWD is a fantastic opportunity, but the clock is ticking with the June 30th delivery deadline. Whether you’re eyeing a Model Y or curious about the growing Model 3 inventory, stay tuned to my channel. I’ve got more updates and insider tips coming tomorrow on how to get the absolute best deal on a Model Y with delivery by the end of the month.
What are your thoughts on this financing extension? Are you planning to finance a Tesla soon? Let me know in the comments, and don’t forget to check out the video for more details. If you found this post helpful, share it with someone who might be in the market for a Tesla. And as always, thanks for supporting the channel!
Until next time, this is DennisCW signing off. 🚗⚡
Disclaimer: Always read Tesla’s terms and conditions for financing offers. Eligibility for incentives and tax credits varies based on individual circumstances. This post is for informational purposes only and not financial advice.
