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Tesla launches new financing plan in China, halving minimum down payments

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Tesla launches new financing plan in China, halving minimum down payments

Tesla (NASDAQ: TSLA) has launched a new round of purchase incentives in China, lowering the minimum down payment for 5-year zero-interest financing on select Model 3 and Model Y variants to 39,900 yuan ($5,940) as it seeks orders amid pressure on local sales.

Tesla announced on Friday that the new financing plan applies to eligible customers who place orders from October 30 through November 30.

The plan combines a down payment, monthly installments and a final balloon payment. It offers 5 years of zero-interest financing while deferring part of the repayment until the end of the loan term to reduce monthly payments.

Eligible variants include the Rear-Wheel Drive, Long Range Rear-Wheel Drive and Long Range All-Wheel Drive versions of both the Model 3 and Model Y, with down payments starting at 39,900 yuan.

The 6-seat Model Y L is also eligible, with a minimum down payment of 59,900 yuan. These vehicles carry a final balloon payment of 39,900 yuan under the plan.

According to official promotional posters, the Model 3 Rear-Wheel Drive, priced at 235,500 yuan, is offered with a 39,900 yuan down payment and monthly payments of up to about 2,429 yuan over 5 years, after a limited-time purchase discount of 10,000 yuan.

The Model Y Rear-Wheel Drive, priced at 263,500 yuan, requires a down payment of 39,900 yuan and monthly payments of up to about 2,995 yuan over 5 years, after a limited-time purchase discount of 4,000 yuan.

The Model Y L, priced at 339,000 yuan, also qualifies for a 4,000 yuan limited-time purchase discount, with a down payment of 59,900 yuan and monthly payments of up to about 3,920 yuan over 5 years.


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