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Tesla China has extended its five-year zero-interest financing program for select Model 3 and Model Y variants, offering potential buyers a final chance to benefit from the incentive through November 30. This extension applies to Rear Wheel Drive and Long Range Dual Motor trims, excluding the Performance model.
Zero-Interest Loan Program Extended by Tesla China
Per Teslarati, the zero-interest loan scheme offered by Tesla China has been extended for an additional five years. Both the rear-wheel drive (RWD) and all-wheel drive (AWD) versions of the Model 3 sedan and the Model Y crossover are eligible for the incentive.
According to the electric car manufacturer, there is a special five-year financing program available to Chinese consumers who want to buy certain Model 3 or Model Y variations before November 30, 2024. The program is limited in time and there is no interest.
Prominent Display on Tesla China’s Order Pages
The Model 3 and Model Y order pages on Tesla China's website prominently display the incentive.
Gigafactory Shanghai is where Tesla China manufactures the Model 3 and Model Y. Two levels of trim are available for each vehicle: the entry-level RWD, the mid-range AWD, and the premium Performance.
Only RWD and AWD Models Eligible for Loan Program
The Model 3 and Model Y Performance versions are not eligible for the five-year, zero-interest financing offer. This is in addition to the fact that the offer is only valid for RWD and AWD trims.
Both the Model 3 and the Model Y remain Tesla's premium offerings in the Chinese market. Prices for the Model 3 start at RMB 231,900 ($32,550) for the standard RWD variation, RMB 271,900 ($38,160) for the Long Range AWD version, and RMB 335,900 ($47,150) for the Model 3 Performance, all before extras.
Model Y Price and Delivery Estimates
The Model Y's order website lists the following prices before options: RMB 249,900 ($35,000) for the standard RWD version, RMB 290,900 ($40,830) for the Long Range AWD, and RMB 354,900 ($49,800) for the Performance trim, CnEVPost reports.
The order page for the Model 3 sedan in China now lists an estimated delivery date of 4-6 weeks for all models. In contrast, a delivery estimate of one to three weeks is provided for all Model Y versions.
Monthly Extensions Since Initial Launch
The initial launch of Tesla China’s five-year, interest-free loan offer was in April. Tesla did mention that the program's availability would be temporary at the time.
But ever since then, the manufacturer of electric vehicles has begun implementing monthly extensions. If Tesla China decides to keep the program going till the end of the year, it wouldn't be shocking.
