Tesla Enhances Electric Vehicle Accessibility: $0 Down Payment and 1.99% Interest for Australian Model 3 Customers

Quick Overview

• New financing options available for the Tesla Model 3 in Australia.
• $0 down payment and a 1.99% interest rate (3.57% comparison rate).
• Applicable to Model 3 RWD and AWD LR variants only.
• Monthly payments begin at A$1,096 for a standard Model 3.
• Financing facilitated by Plenti Finance Pty Limited.
• Terms and conditions apply, valid until 31 August 2024.

Tesla’s Updated Financing Options

Tesla is making headlines in the Australian electric vehicle sector by rolling out new financing options that simplify the purchase of a Tesla Model 3. The offer includes a $0 down payment combined with a very appealing 1.99% interest rate (3.57% comparison rate) for Model 3 RWD and AWD LR versions. Though this proposal doesn’t extend to Model Y buyers, it provides a strong incentive for prospective Model 3 purchasers to act promptly.

Pricing and Financing Information

The entry-level Model 3, which comes in white with a black interior, has a driveway price of A$60,158 in Victoria (VIC). For those not wishing to make a full payment upfront, Tesla’s financing partner, Plenti, provides a monthly payment plan. With a term of 60 months, buyers would be looking at payments of A$1,096 monthly or roughly A$252.92 weekly. This offers a financially feasible route for individuals aiming to transition to electric vehicles without overspending.

Model 3 Specifications and Options

The Tesla Model 3 boasts impressive features, including a 513km range (WLTP) and the ability to accelerate from 0-100km/hr in just 6.1 seconds. Buyers will also benefit from access to Tesla’s vast Supercharging infrastructure and the Autopilot function. Additional upgrades are available for those willing to invest more, such as an array of paint colors, larger 19-inch wheels, and interior enhancements. Software options include Enhanced Autopilot, Full Self-Driving Capability, and Premium connectivity.

For First-Time Electric Vehicle Owners

If you’re new to electric vehicles, note that you’ll have to purchase a charger separately from Tesla’s shop. While this adds a small extra cost, it’s essential for the everyday use of your new EV.

Conditions and Requirements

To be eligible for this financing offer, you must place an order and apply for financing on a qualifying Tesla Model 3 by 31 August 2024, with delivery by 30 September 2024. This offer is exclusively for new Tesla Model 3 Rear-Wheel Drive and Long Range (AWD) variants, with financing terms of up to 5 years. Balloon payments are not part of this offer. Credit approval is at the discretion of Plenti Finance Pty Limited, which also determines the associated terms, conditions, fees, and charges. Interest rates may vary.

The comparison rate is based on a secured vehicle loan of $30,000 repaid over a 60-month term. Alternate loan amounts, fees, or terms may lead to a different comparison rate. This content does not assure financial advice. Potential buyers should engage a certified independent financial advisor to identify the most suitable financing options for their needs.

Final Thoughts

Tesla’s latest financing choices enhance the accessibility of the Model 3 for Australian consumers. With a $0 down requirement and a competitive 1.99% interest rate, owning a Tesla has become more attainable for many. This promotion runs until August 2024 and pertains to specific Model 3 configurations. Despite additional terms and conditions, this initiative highlights Tesla’s dedication to rendering electric vehicles more affordable and reachable.

Q: What is the interest rate available for Tesla’s new financing option?

A: The interest rate stands at 1.99% per annum with a comparison rate of 3.57%.

Q: Which Tesla models are eligible for this financing offer?

A: This offer is valid for the Tesla Model 3 Rear-Wheel Drive and Long Range (AWD) models.

Q: What is the expected monthly payment for a standard Model 3 under this arrangement?

A: Monthly payments for a base Model 3 are approximately A$1,096.

Q: When does the window close to benefit from this financing deal?

A: You need to order and apply for financing by 31 August 2024, with delivery completed by 30 September 2024.

Q: Is the Model Y part of this financing proposal?

A: No, the financing offer does not cover the Model Y; it is exclusively for the Model 3.

Q: Who supplies the financing for this arrangement?

A: Financing is provided by Plenti Finance Pty Limited.

Q: Are there extra costs for individuals purchasing their first EV?

A: Yes, first-time electric vehicle buyers must acquire a charger separately from Tesla’s store.

Q: What if the interest rates fluctuate?

A: Interest rates are subject to fluctuations, with the final rate being set during credit approval.