Tesla has extended its 1.99% annual percentage rate (APR) financing offer for the new Model Y Long Range AWD in the United States until June 30, giving prospective buyers two additional weeks to take advantage of the deal.
The electric vehicle maker updated the terms on its website over the weekend, stating that the promotional rate applies to well-qualified buyers who take delivery of the vehicle by the end of June and place a minimum 15% down payment, plus taxes and fees. The update was first flagged by Tesla investor Sawyer Merritt on social media platform X.
NEWS: Tesla has extended the 1.99% APR promotion for the new Model Y AWD in the U.S. to June 30th (from June 16th).
"Promotional rates valid for well-qualified buyers with excellent credit who order a new Model Y LR AWD and take delivery by June 30, 2025, with a minimum down… pic.twitter.com/tkb0HcWpLk
— Sawyer Merritt (@SawyerMerritt) June 17, 2025
Tesla confirmed that buyers eligible for the $7,500 federal EV tax credit can apply that amount toward their required down payment. The extended financing offer can also be combined with the company’s Refer and Earn Program, but not with the $2,000 Model Y Loyalty Incentive, according to the revised terms.
The Model Y Long Range AWD, Tesla’s best-selling vehicle in the U.S., remains a central focus of the company’s strategy to boost mid-year deliveries as competition in the electric SUV segment intensifies.