On April 3rd, Tesla announced its latest financial initiative: the "Zero-Interest Driveaway Tesla" limited-time financing policy. This marks the first instance of the company introducing a "zero-interest car purchase" plan.
Tesla offers two financing options depending on whether you participate in the official trade-in. The minimum down payment for both starts at 79,900 CNY.
If you opt for a brand-new car purchase, you can enjoy up to 36 interest-free installments. For the rear-wheel-drive version of Model 3, the monthly installment can go up to $4,611, while for the rear-wheel-drive version of Model Y, it can reach a maximum of $5,111 per month.
However, if you choose the official trade-in option, you can benefit from 60 interest-free installments. In this case, the monthly installment for the rear-wheel-drive Model 3 is capped at $2,767, and for the Model Y, it's at $3,067.
Presently, the price for the Tesla Model 3 rear-wheel-drive version stands at ¥245,900. For instance, with the trade-in purchase scheme, a down payment of ¥79,900 is required, equivalent to a loan of ¥166,000, with a five-year interest-free offer.
Based on equal principal and interest, and calculated at a 4.35% annual interest rate for auto loans, the estimated interest-free amount is expected to be around ¥20,000. Tesla's subsidy intensity is relatively high.
It can be anticipated that with Tesla's adjustment to its loan purchase subsidy policy, other car manufacturers may swiftly follow suit.
