this post was submitted on 07 May 2025
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Tesla is already offering low 1.99% financing on six-year loans for customers looking to buy the $48,990 long-range, all-wheel-drive Model Y, the series production version of the newer car that debuted in early April. Gone are the days when Tesla had to keep hiking prices to avoid being hopelessly swamped by demand. Now CEO Elon Musk has to fight for every new customer.

Just weeks after the launch of the Model Y refresh, a slightly newer version of the five-year-old crossover, Tesla informed buyers on Sunday they can already have the car at a discounted financing rate. Interested buyers can qualify for a six-year loan at 1.99% if they put down $3,999 for the purchase of a long-range all-wheel-drive version. By contrast, financing rates for some of Tesla’s upscale models top 6%.

Non-paywall link

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[–] JoMiran@lemmy.ml 11 points 1 week ago* (last edited 1 week ago) (1 children)

The Tesla brand is dead to me. In 2018 I wanted a Tesla EV but when in came time to buy a new car (2024), I got a BMW instead. In 2018 I wanted a Tesla Powerwall but I just bought a Jackery system instead. Between the two, that's well over $100k lost to Tesla from that purchase. Countless more given that I will never buy anything Tesla ever. I won't even ride an Uber/Lyft if the driver is on a Tesla.

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[–] kreskin@lemmy.world 11 points 1 week ago* (last edited 1 week ago) (1 children)

I'm constantly floored that institutional investors are keeping the TSLA stock price from cratering. They dont think of the pressures on the brand like we do. I think they are pricing in future patronage by trump.

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[–] TomMasz@lemmy.world 10 points 1 week ago (1 children)

He thought he could be Henry Ford, but Ford was a bit less overt in his Nazism. And, it should be remembered, Ford almost destroyed the company before being forced out by his own family. There are downsides to one man being the image the public has of a company.

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[–] Widdershins@lemmy.world 7 points 1 week ago

The only reason I'd be caught driving a tesla is if it had a completely true bumper sticker that said "I bought it after he blew his brains out."

[–] altphoto@lemmy.today 6 points 1 week ago

$3k, $5k, $20k. What's democracy mean to you?

I say let's make him the next Juliani.

[–] FreedomAdvocate@lemmy.net.au 5 points 1 week ago (1 children)

Offering low interest rate finance is not a “discount” lol

[–] pahlimur@lemmy.world 7 points 1 week ago (2 children)

Yes it is. Low interest rates are literally a discount on high interest. Lower interest reduces the overall cost of the loan by a shitload.

Interest is an increase in price*. Lower interest isn't a discount, it's a smaller increase. Calling it a discount is like punching you instead of stabbing you and calling it nonviolence.

*In exchange for better payment conditions, but that's not relevant to the point.

[–] FreedomAdvocate@lemmy.net.au 0 points 1 week ago* (last edited 1 week ago) (1 children)

I'm really not sure you understand how discounts work. Or interest rates.

Tesla's do not come with interest. Interest that you get by taking out a loan to purchase one is a price increase. You're paying more. A lower interest rate doesn't mean you're getting a discount, it just means that you're only paying a smaller amount increase. The car itself is still the same price it was before - what is changing is how much extra interest you're repaying on top of the cars price. The interest isn't on the car's price, it's on the amount of money you borrowed.

[–] spidermanchild@sh.itjust.works 3 points 1 week ago (1 children)

You're just playing semantics. Lots of customers finance cars. Before the "discount" they had to pay $X/month, now they pay $(X-discount)/month. They literally pay less each month because of the discounted, subsidized rates. It's a discount for folks that finance through Tesla. I'm not sure why you think you're the only person that understands the simple concept of interest here. You've just decided that the definition of discount only applies to MSRP arbitrarily. Is a point of sale tax credit not a discount either?

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[–] melsaskca@lemmy.ca 4 points 1 week ago

I put the reason for this in song..."Nazi, nazi, bo-botsy-ko-banna-fanna-fo-fawtsy-fe-fi-moe-motsy...nazi!".

[–] Geobloke@lemm.ee 4 points 1 week ago

Don't live in the US, but you'd probably have to pay me to be seen driving one of those. I can afford not to and dignity has a price

[–] ABetterTomorrow@lemm.ee 3 points 1 week ago
[–] Gammelfisch@lemmy.world 3 points 1 week ago

No thanks Leon Hitler, you can shove your vehicles where the sun does not shine. I will stick with my Leaf and it will not burn down my garage.

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