Tesla offers new Model Y financing deal with zero down payment ahead of the Juniper facelift release

Tesla has launched a new Model 3 and Model Y financing offer, with $0 due at signing. That is in addition to the active 1.99% Model Y APR rate financing deal introduced earlier, which, however, demands a down payment.

If a Model Y buyer now chooses to get the electric SUV with zero due at signing, Tesla will slightly raise the APR rate to 2.49% for all but the 84-month financing period. With $0 down and a 72-month financing, this would bring the monthly payment for a Model Y to $580 if one doesn't count Tesla's "gas savings" calculations, but qualifies for the federal tax credit.

In certain states like Colorado with its $5,350 EV incentive, the Model Y monthly payment may be reduced to a realistic $500, and even less if a buyer qualifies for all the available state and federal credits there.

Tesla usually introduces these Model 3 and Model Y deals towards the end of a quarter in order to pad its sales numbers for Wall Street, but they often spill into the next quarters as well. The $0 down payment and the 1.99% financing schemes differ quite a bit, too, so they are likely to co-exist for a while.

Indeed, Tesla isn't timing the new offer and just says "$0 due at signing," both for the Model Y and the Model 3, indicating that the two deals are probably going to continue into the holiday quarter as well.

Given that the Model Y Juniper facelift is right around the Q4 corner, Tesla may also be trying to move Model Y inventory by any means available before the Juniper refresh is released.

This is how Tesla rolls to spur sales now, as it is no longer embarking on Model 3 and Model Y price-cutting sprees like last year. It may also be waiting on the Federal Reserve's interest rates cut to gauge how to make its vehicle financing more enticing, so it might not be done with the Model Y deals.

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