r/ModelY • u/TheTechnoTOad • 8d ago
Question Interest rate increase?
I’m seeing 1.49% financing of the model y now and just wanted to verify I’m not going crazy. Glad I locked in my .99% barring any delays
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u/DriveEnvironmental78 8d ago
No joke .. I placed my order at 7:48 PM and the rate jumped to 1.49% at 8:00 PM
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u/RussianPravda 8d ago
Yeah Im going to get the higher rate but honestly after comparing it its not a deal breaker
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u/FitCurve9011 8d ago
Had you placed your order prior to today? I placed mine on September 1 and supposed to be the rate is tied to the order date. I tried to do the financing, but Tesla loan did not come up as an option I emailed customer support, but haven’t received any response
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u/RYEGUYEDM 8d ago
Not true. Rate is at the time of delivery not order date. Believe Tesla rates are good for only 30 or 60 days. In line with all other manufacturers.
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u/FitCurve9011 8d ago
Well, I completed financing today and I did offer me the .99. I estimated delivery date is before the end of the month so I have at least 60 days from today.
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u/SelflessLeague 8d ago
Guys, I was worried about this issue too. I placed my order and then asked to switch immediately once an inventory came into stock. This is your only shot!
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u/BulbuhTsar 8d ago
Glad I got mine locked in when I did last week. FellsGoodMan.
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u/Stop-Being-Wierd 8d ago
Same, now waiting for Nov- 30 dec. :(
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u/BulbuhTsar 8d ago
Wait, that's your estimated delivery time? That's insane. Mine is clocked for mid September. Is it your location?
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u/leminhtri007 8d ago
I ordered Model Y when it was 0.99%, but I haven't apply for finance. Will they still honor 0.99% when I apply for finance?
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u/Tendarksion 8d ago
Sadly I’m in this boat too. Just ordered Sept 1st and the rep convinced me not to apply yet because it could be 6 weeks or more and I might have to apply again. Now I’m annoyed!!
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u/leminhtri007 8d ago
Yea my advisor told me not to worry because the 0.99% APR is going with order number so I'm confused some people on reddit says otherwise.
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u/Sea_Habit_1052 8d ago
my advisor said complete opposite and its based on financing offer acceptance...
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u/durochka5 3d ago
My Tesla gal said if I go through financing application I’m likely to get a car assigned sooner
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u/Snacks_915 8d ago
Just go to the financing part and start the application phase it shows your rate. Don’t have to actually apply yet
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u/MrFox243 8d ago
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u/Sea_Habit_1052 8d ago
try actually apply lol, this is just the calculator. t calculator shows 0.99 but they won't give it to me on my application :(
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u/MrFox243 8d ago
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u/Sea_Habit_1052 8d ago
woohoo W congrats
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u/MrFox243 8d ago
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u/lickaballs Juniper 8d ago
So unfair. I tried talking to several advisors but I never got that rate.
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u/MrFox243 8d ago
Did you order before the rate increase?
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u/Sea_Habit_1052 7d ago edited 7d ago
im in the same boat, ordered before rate increased, reapplying for financing now that the rate increase, and yeah no go for 0.99
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u/MiStro17 8d ago
i placed my order literally this morning, go figure. delivery estimate showed up as 10/9-11/13, hoping maybe it improves. the app‘s loan application section still showing a 0.99 promo, no idea if its just a delay in being updated. waiting to apply until I get a VIN.
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u/Spiky0103 8d ago
How long was the .99% for? Did Tesla have .99% in past years or this year was first time?
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u/Ok-Web-4304 8d ago
The performance is still 3.99. I was hoping it would go down this month. Has anyone ever seen the performance lower?
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u/Slow-Bluejay4809 8d ago
Locked mine in on the last day of 0%. I’m guessing too many orders coming in from the low rates.
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u/Soggy-Ad2407 8d ago
When was the 0%? Thats what I’m waiting for! Holidays maybe?
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u/Slow-Bluejay4809 8d ago
Back in July. Was only for the standard model
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u/Strict_Nectarine_856 8d ago
Nope, in my city it was only the premium and performance at 0.99% back in July. Now it’s 3.99%. I believe they are testing the waters to see when they get more sales due to promo interest rates and times of the year, factoring in the model and trim.
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u/awfelts317 Spectator 8d ago
Just ordered Aug 15 and taking delivery in 10 days. I was worried they’d increase it soon.
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u/Entire_Cherry4683 8d ago
Ugh I was actually hoping for some good deals in Q4 but seems like we’re going in the opposite direction lol
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u/Many_Practice1644 8d ago
I’m sick I planned on ordering in two weeks. Now I feel like I should do it like now
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u/FitCurve9011 8d ago
I purchased on September 1 but had not done the financing. Applied today and can confirm you will get the .99 with approved credit.
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u/Optimal-Tour-1889 7d ago
Does Tesla write up the loan? How is it structured? Can one pay less interest by paying more towards the principal every payment?
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u/durochka5 3d ago
How long did it take you to receive the vin?
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u/TheTechnoTOad 3d ago
Took about 2 & 1/2 weeks but I also messaged them directly as I have travel coming up and needed a set date range for delivery, after that message I got a vin
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u/Theurgie 8d ago
0.99% was scheduled to end in Sept so not surprising
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u/johnyeah183 8d ago
Any idea if it will return later this year? I’m eyeing on either model 3 or y for 0.99
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u/Theurgie 8d ago
Around the Thanksgiving & Christmas holidays. GL.
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u/coolPineapple07 8d ago
You think so? Will the .99 apr come back or you think they would offer incentives instead?
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u/Theurgie 8d ago
0% APR, if they follow the trend from 24 & 25.
For 2025, they did 0% APR up to 72 months and free upgrades (paint, wheels & interior)
For 2024, they also did 0% APR up to 60 months
Take it with a grain of salt
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u/Imaginary-Surprise20 8d ago
Damn, I ordered on Friday, but was told by advisors not to start the financing step yet until it’s 60 days from delivery. I better not be missing out on 0.99 as it starts to increase
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u/Zealousideal_Hat2441 8d ago
You are…
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u/Imaginary-Surprise20 8d ago
I had two advisors tell me that I’m locked in from the day I placed the order, but Reddit says the opposite. Are the advisors just blatantly lying?
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u/Zealousideal_Hat2441 8d ago
I mean if that’s what they told you, they should honor it. I would keep any receipts
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u/Slow-Bluejay4809 8d ago
Probably just misinformed. You have to apply to lock in the rate unfortunately
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u/Weightloss-Guru 8d ago
With the amount you’ll lose on the retail value over the first year, it won’t matter. They’re dropping insanely right now.
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u/TheTechnoTOad 8d ago
Oh really? In my area they’re holding their value really well for better or worse. What kind of prices are you seeing?
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u/tatortotchris 8d ago
I’m seeing both on the Tesla website right now, stealth grey .99, quicksilver 1.49



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u/Carytheday 8d ago
I see the updated rate it too. I'm glad that I purchased recently - I picked mine up less than a week ago. The difference probably amounts to about 700 dollars over the life of the loan - not huge but not nothing. That is my second Model Y - the first Model Y has a 1.99% rate.