Tesla Introduces 84-Month Financing to Ease the Impact of Rising Interest Rates

Tesla is offering an 84-month financing term to attract more customers, with APRs around 6.39%. While this may lower monthly payments, the long-term loan could result in a total cost of over $63,000 for a Model Y, highlighting the downsides of high-interest, long-term loans. Tesla has been offering discounts and incentives on various models, including up to $7,500 off MSRP for Model S and X vehicles, as well as reduced prices for Model 3s.