Tesla has raised the annual percentage rate (APR) for its Model Y and Model 3 vehicles, ending the zero interest financing deal that had been available for the Model Y. The change affects buyers looking to finance their vehicles, making the purchase more expensive. The Model Y, which was previously available with 0% interest financing, is no longer offered under that program. Additionally, the APR for the more expensive Model 3 versions has also increased.
The decision comes as part of broader adjustments to Tesla’s financing options. The company has reportedly modified its financial terms in response to market conditions and regulatory changes. Buyers who had planned to take advantage of the zero interest deal for the Model Y may now face higher monthly payments. The Model 3, which was also previously available with 0% financing, now carries a higher APR, impacting its affordability for some customers.
The change affects both new and existing buyers. Those who had already signed up for the zero interest financing may be eligible for a refund or adjustment, depending on Tesla’s policy. The updated APRs are expected to take effect soon, with details to be announced by the company. (notebookcheck.net)
