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UK Tesla finance changes imminent?

PrGrPa

Member
Aug 12, 2017
326
163
Manchester
Got a neat email from Tesla today saying

"Tesla’s limited time 1.5% rate on Model S and Model X vehicles is available through to the 30th September."

Darn. Hope the rate isn't going up much as I was looking at getting a model S in February.
 

boaterva

Supporting Member
Supporting Member
Apr 2, 2016
7,575
3,815
Northern Virginia, USA
Interesting that your 'great low rate' is 1.5% while ours seems to be 0.99%. Is that always the case that the UK special low rates are in that range? (To add another comment, 'normal' car dealers can and do often offer 0.00% financing when trying to move cars at end of the model years here...)
 

PrGrPa

Member
Aug 12, 2017
326
163
Manchester
Interesting that your 'great low rate' is 1.5% while ours seems to be 0.99%. Is that always the case that the UK special low rates are in that range? (To add another comment, 'normal' car dealers can and do often offer 0.00% financing when trying to move cars at end of the model years here...)

That is interesting. For perspective, the Bank of England base rate is 0.25%. And typical savings rates are <2.5%. 1.5% looks pretty good. In these conditions. Though not as good as 0.99%.

I’ve seen few 0% deals on premium cars in the UK. BMW and MB quote typical finance rates of 4%-5% with real rates ranging up to 9%.
 

boaterva

Supporting Member
Supporting Member
Apr 2, 2016
7,575
3,815
Northern Virginia, USA
That is interesting. For perspective, the Bank of England base rate is 0.25%. And typical savings rates are <2.5%. 1.5% looks pretty good. In these conditions. Though not as good as 0.99%.

I’ve seen few 0% deals on premium cars in the UK. BMW and MB quote typical finance rates of 4%-5% with real rates ranging up to 9%.
Maybe they aren't as eager to dump their EOY cars as our ICE dealers are. :D. I mean, I'd rather have a Bimmer or a Benz, if I had to have an ICE.... but I'm no expert on sales cycles for cars in the UK.

I have seen 0.0% for Lexus and the like, which is what some people call premium.... But back when I purchased my current BMW in 2009, the rates were around 4%.
 
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