Tesla Model Y Rear Wheel Drive Now at 1.99% Financing: Best Deal Yet?
Hey everyone, DennisCW here! I'm thrilled to share some exciting news for all Tesla enthusiasts and potential buyers out there. Tesla has just dropped an incredible offer: 1.99% financing on the most affordable Tesla Model Y, the Rear Wheel Drive (RWD) variant. This is arguably the best value Tesla on the market right now, and with this financing deal, it’s even more enticing. Let’s dive into the details, what you need to know, and why this might be the perfect time to get into a Tesla Model Y RWD.
The Offer: 1.99% Financing on Tesla Model Y RWD
Tesla recently extended their ultra-low 1.99% financing rate to the cheapest and most affordable Model Y variant—the Rear Wheel Drive model. If I were to buy a Tesla again, I’d seriously consider the RWD Model Y, especially with Full Self-Driving (FSD) added on. Why? It offers the highest range among the base models, and for those of us in places like California, all-wheel drive isn’t a necessity. You’re not sacrificing features compared to the AWD version, but you’re saving a significant amount.
This financing deal is a game-changer, and here’s the kicker: the expiration date for the RWD offer extends all the way to June 30th, 2025, giving you plenty of time to act (though you’ll need to take delivery by then). Compare that to the AWD Model Y financing offer, which expires much sooner on June 16th of this year. So, if you’re eyeing the RWD, you’ve got a longer window to make your move.
Key Details You Need to Know
Before you rush to place your order, there are a few important things to keep in mind:
- Order and Credit Application Deadlines: For the RWD Model Y, you must place your order with the $250 deposit by the deadline and complete your credit application (including the hard inquiry for financing). For the AWD, the order deadline is June 16th, but for the RWD, you have until June 30th to order—and you must take delivery by June 30th, 2025.
- Eligibility and Credit Requirements: This promotional rate is for well-qualified buyers. That means you’ll need good credit and a solid auto loan history. If you’ve never financed a vehicle before, be prepared to put down a larger down payment.
- Down Payment and Tax Credit: A minimum down payment of 15% (plus applicable taxes and fees) is required. However, if you qualify for the $7,500 federal tax credit, you can use it as part of your down payment, which is a nice bonus.
- Financing Terms: The 1.99% rate applies for up to 72 months, which keeps monthly payments low. For example, with a $4,000 down payment on the RWD Model Y, you’re looking at around $500 per month. If you opt for zero down, the rate bumps to 2.99% for 72 months—still a great deal. However, longer terms like 84 months jump to a much higher rate of 6.7%.
- Stackable Offers: This financing deal stacks with programs like the military discount and the Full Self-Driving transfer program, making it even more attractive.
- Exclusions: Unfortunately, this offer cannot be combined with the $2,000 Model Y loyalty incentive. You’ll need to do the math to see which deal works best for you, but the 1.99% financing often comes out ahead.
Why This Deal is a Big Deal
I didn’t expect Tesla to roll out such an aggressive offer this early in the year, especially at the end of Q2. It’s a clear signal that Tesla is pushing hard to boost demand for the Model Y, especially with inventory levels spiking recently (check out the inventory chart I shared in the video—Model Y stock is on the rise!). When inventory goes up, we often see better discounts and incentives, so this could be just the beginning. Could rates drop even lower in Q3 or Q4? Possibly, but 1.99% is the best we’ve seen so far for the Model Y, and if you need a car now, this is tough to beat.
Bonus Perks and Tips
- Use a Referral Code: Don’t forget to use a Tesla referral code (like the one in the description of my video) when placing your order. It’ll get you 3 months of free Full Self-Driving, which is a fantastic perk.
- Full Self-Driving Discount: If you’re interested in adding FSD to your purchase, I’ve got a way to help you get it for half off on new car deliveries. Just DM me on Instagram or shoot me an email, and I’ll point you in the right direction.
- Protect Your Investment: Once you pick up your shiny new Model Y, make sure to protect it. My friends at Tesbros have an awesome DIY Paint Protection Film (PPF) kit with four different packages—Essentials, Partial, Front, and Full Coverage. Use the promo code in my video description to snag a discount and support the channel!
Protect Your Credit Before Financing
If you’re planning to finance your Tesla, there’s one critical step you need to take before applying: protect your credit. Recently, Bank of America had a data breach and didn’t notify customers for a month. Breaches like this can expose your personal info—Social Security number, phone number, email—and it often takes companies an average of 277 days (9 months!) to report them. That’s why I use Aura, today’s sponsor.
Aura constantly scans the dark web for any of my personal information and alerts me if anything tied to me shows up. Beyond breaches, Aura offers tools to reduce spam calls, remove your data from sketchy broker sites, and even includes up to $5 million in identity theft insurance—all in one easy-to-use app. You can try it free for 14 days at aura.com/denniscw (link in the video description). Don’t wait until it’s too late—protect your credit before you apply for financing. I’m doing it, and you should too.
What Do You Think?
So, is 1.99% financing enough to get you into a Tesla Model Y Rear Wheel Drive, or are you holding out for something better like 0% financing or deeper inventory discounts? Let me know your thoughts in the comments! Are you planning to order soon, or is this the deal you’ve been waiting for? I’m curious to hear what you think about Tesla’s aggressive push at the end of Q2.
If you’re as excited as I am about Tesla news and deals, don’t forget to join my free email newsletter for the latest updates. You can sign up via the link in the video description or in the live chat if you’re watching the stream. And a big thanks to everyone who’s been tuning in—shoutout to U-Haul, Blueberry, JJ, and Michael for joining the conversation!
Thanks for reading, and I’ll catch you in the next post or video. Let’s keep the Tesla hype going!
- DennisCW
