.99% APR Financing Promotion (May 10 - May 31 2024)

[mreynolds767]

I think big discounts or rate incentives on the Model 3 would be a bad omen… theoretically that car should still be “new” enough to not need them. If demand is flagging already, that’s a bad sign.

I think a huge screw up by Tesla that the Model 3 RWD and LR do not qualify for the Federal Tax incentive.
If purchasing one and you meet the qualifications you would be crazy not to wait (or lease or buy a P model) ; as that will be corrected at some point in the future I believe.

Personally I see dealer lots with good inventory of the new 3's - with black interior and non-performance but not seeing any on my daily commute. Have seen more Cybertrucks on the road than new 3's

If Telsa has advanced knowledge of the problem being resolved in the future months with a production floor change a promotion to rid themselves of that excess inventory that does not qualify makes sense.

 

[mreynolds767]

So I’m curious. Did the .99% stick for those who orders and only put the 250 down? I see the new rate at 6.3%

Terms were very clear that the promotional rate was for orders placed by X date not delivery taken by X date.

Assuming you went through some of the pre-delivery steps like registration, financing application and terms acceptance you should be locked in.
Once the 30 day / 60 day windows pass and delivery has not happened yet (no fault of buyer) we will have more questions (have to reply for credit, etc...) but just because the calendar flipped to June means nothing if you ordered in May

 

[mreynolds767]

Lol! Is Tesla that predictable now?

One would logically assume Telsa would not be BUT fact is they have done the exact same thing since early 2019 ; so over a 5 year history of this.
End of quarter sales push (to make deliveries in that same quarter) are now just a fact of life.

The only unpredictability is what exact incentives will be offered and which models will they apply to.
Not all buyers are OK going with something new that is in inventory (have to have some flexibility on colors and options to make it work best for you financially)

I will say during periods of non-promotion is the absolute best time to schedule a demo drive or visit a sales center with questions.

 

[ucmndd]

I think a huge screw up by Tesla that the Model 3 RWD and LR do not qualify for the Federal Tax incentive.

They only have so many cells/packs that qualify, which they’re clearly prioritizing for the more profitable Model Y. Not sure there’s much they can do about that in the short term…

 

[mreynolds767]

They only have so many cells/packs that qualify, which they’re clearly prioritizing for the more profitable Model Y. Not sure there’s much they can do about that in the short term…

I know the reason ; I just think it has caused a huge sales disincentive that has to show up in the numbers.
$7500 is not a trivial amount ; especially now that is it applied at point of purchase as a down payment basically.

Of course not all buyers qualify but a good percentage of potential buyers do.

 

[Honda Convert]

I know the reason ; I just think it has caused a huge sales disincentive that has to show up in the numbers.
$7500 is not a trivial amount ; especially now that is it applied at point of purchase as a down payment basically.

Of course not all buyers qualify but a good percentage of potential buyers do.

As you and UCMNDD, all true! Which I never realized how biased the media is against Tesla, yet it is the most American manufactured car being produced. For decades the narrative with ice vehicles was that the US could not compete with foreign made cars as they were not nearly advanced. Now the US has a company which is leading the advancement of electric vehicles yet do not seem to get the credit deserved. Has Elon turned people off this much, is it a political agenda with the left pro ev and the right against, disregarding credit or discredit based on party affiliation? Recently I've noticed many comparisons of the Model Y vs Ford's Mach E stating both are quite similar. These articles never mention one vehicle is eligible for a $7,500 discount and the other does not, and one of the companies have been developing the technology for over a decade while another has recently entered the market. Also, what's up with all the recall bashing? Why make a big deal of a "recall" for a font size being corrected while you sleep with no inconvenience to the owner? Guess we could go on and on...

 

[mreynolds767]

Definitely true HondaConvert but don't think it has to do with Musk and his polarizing views BUT 100% has to do with huge money spent by the big automakers and the lobbyists they employ.

They hate that Telsa sells direct instead of through the long established dealer model which is why they will be more kind to brands like Ford.
The dealers like those that sell Ford cars hate selling EV's because they can cannot make the same amount of money from the service of these vehicles.

EVs scare many as to what effect it will have on road taxes currently collected at the gas pump ; plus how many businesses from gas station owners and mechanics will be affected.

 

[Honda Convert]

mreynolds767, along with that so many states are now speaking out of both sides of their mouth, along the east coast anyway. Offering no sales tax along with other incentives only to pull them back, or create a different tax on ev owners which offsets or diminishes the original benefit.

 

[mreynolds767]

Yeah from a state's prospective it is quite complicated and I can see both sides. The concerns on funding roads and jobs/business affected when EV's take over are real.

Main reason I decided to purchase a Y this year instead of waiting till next year which was my original plan is I am not sure the Federal and State current incentives will be there if I wait. The .99% financing is just what made me pull the trigger when I did, my mind was made up due to the incentives.

 

[Stach]

Once the 30 day / 60 day windows pass and delivery has not happened yet (no fault of buyer) we will have more questions (have to reply for credit, etc...) but just because the calendar flipped to June means nothing if you ordered in May

What is the 30 day / 60 day window for he special financing rate? That make me nervous as I'm selling the car that this new MY is replacing this coming Saturday and I definitely would not be selling it, if I didn't get the special financing rate.

 

[mreynolds767]

What is the 30 day / 60 day window for he special financing rate? That make me nervous as I'm selling the car that this new MY is replacing this coming Saturday and I definitely would not be selling it, if I didn't get the special financing rate.

My understanding is the financing offer was valid for 60 days starting when confirmed in the app.

After 60 days I heard from others that they honor the same rate but you would have to reapply for credit again
Since that has not come and gone yet for anyone ; I would not consider that a certainty and will personally be worried if delivery is not taken by mid-July when that 60 days runs out.

I think 30 days is nothing other than applying to trade-in's but would feel more comfortable if finalizing within a 30 day window for the financing as well.
With a trade in the official Tesla offer (one through the app with pictures submitted not the pre-offer based solely on VIN) so only valid for 30 days so would need to resubmit for that and likely get a different $#

 

[Royal27]

Would you have access to this report again? It would be interesting to see what the final #'s were thru the end of May.

Here you go!

You can pull up daily on tesla-info.com. And slice and dice as you wish.

 

[Honda Convert]

Here you go!

You can pull up daily on tesla-info.com. And slice and dice as you wish.

Thanks, pretty neat tool allowing you to drill down by model, price, and availability by state.

 

[Royal27]

Really is.

Let's see if my logic was right, but the drop we have seen is part of the reason I went ahead and ordered as opposed to holding out until quarter end (and I wasn't going to wait past Q end regardless).

 

[Honda Convert]

Has anyone else noticed the Model Y RWD which had an MSRP of $42,990 and a range of 260 has been removed from sale on the Tesla website. I know this has been common practice for this particular configuration.

 

[MoneyTrees]

Hello all, I’m new here. I ordered a MY on 5/29 to take advantage of the .99% financing with an est delivery in June. My question is do I get to keep the .99% rate if I select an inventory model for earlier pickup?

 

[mreynolds767]

Hello all, I’m new here. I ordered a MY on 5/29 to take advantage of the .99% financing with an est delivery in June. My question is do I get to keep the .99% rate if I select an inventory model for earlier pickup?

I believe if you do it yourself through the app ; on your order screen showing the new car.
You should see an i: Earlier Pickup Available

If you do it that way my understanding is the .99% will stick with your purchase.

If you do it any other way via the app or website it will not.
Alternatively if you know a specific VIN you could ask a sales advisor to transfer it over to your purchase but need to make certain the .99 rate retains. It should as long as you get a competent advisor.

 

[MoneyTrees]

I believe if you do it yourself through the app ; on your order screen showing the new car.
You should see an i: Earlier Pickup Available

If you do it that way my understanding is the .99% will stick with your purchase.

If you do it any other way via the app or website it will not.
Alternatively if you know a specific VIN you could ask a sales advisor to transfer it over to your purchase but need to make certain the .99 rate retains. It should as long as you get a competent advisor.

Thanks! but it didn't seem to work. Once I select the new model, it shows me finance options again, and its showing me a 6.39% APR.

For some reason I also cannot message a tesla advisor in-app. It shows messages in the inbox, but I can only read them, there is no "Reply" or "Send message" option.

Tried calling, but was put in hold music purgatory. I guess I'll just have to wait for my actual delivery date

 

[Royal27]

Thanks! but it didn't seem to work. Once I select the new model, it shows me finance options again, and its showing me a 6.39% APR.

For some reason I also cannot message a tesla advisor in-app. It shows messages in the inbox, but I can only read them, there is no "Reply" or "Send message" option.

Tried calling, but was put in hold music purgatory. I guess I'll just have to wait for my actual delivery date

Is there a Tesla store near by you can walk into? Sucks that in this day and age of comes to that, but it is one way to get help... I had to that to get a timely answer on a change to my order.

 

[Royal27]

And to stop people like me who are trying to thread the needle between the promotions to hopefully take advantage of whatever promo is best.

The wife's car is set for delivery on Saturday morning at 1030. So expect the awesome EOQ promo to be announced at noon.