Tesla has announced that its attractive 1.99% APR financing offer for the new Model Y will conclude on June 16, 2025, in the U.S., giving prospective electric vehicle (EV) buyers a narrow window to act. This promotion from Tesla has drawn significant attention from EV enthusiasts. For those considering a switch to electric, this deal could make the Model Y—a compact electric SUV known for its impressive range and performance—more accessible than ever.

Financing Details and Deadlines

The 1.99% APR rate applies to new Model Y purchases financed through Tesla in the U.S. According to the announcement, this promotional rate will end on June 16, 2025, after which standard financing rates are expected to apply. While exact terms may vary based on creditworthiness and loan duration, a 1.99% APR is notably lower than typical auto loan rates, which often hover around 4–6% for new vehicles in 2025. This offer could save buyers thousands of dollars in interest over the life of the loan, making it a compelling incentive for those eyeing the Model Y.

Tesla’s website also highlights the option for a 48-hour test drive, allowing potential buyers to experience the Model Y’s capabilities firsthand. This extended test drive can help drivers assess the vehicle’s handling, Autopilot features, and overall fit for their needs before committing.

Tesla Model Y 1.99% Apr Promotion Ends June 16: Last Chance For Ev Buyers

Model Y Features and Performance

The Tesla Model Y remains a standout in the EV market, blending practicality with cutting-edge technology. The Long Range All-Wheel Drive variant offers an EPA-estimated range of 330 miles on a single charge, making it suitable for both daily commutes and longer road trips. It accelerates from 0 to 60 mph in 4.8 seconds, powered by dual electric motors that deliver 384 horsepower. The vehicle also includes Tesla’s Autopilot system, with options to upgrade to Full Self-Driving (FSD) capability, which continues to evolve through over-the-air software updates.

Inside, the Model Y features a minimalist design with a 15-inch central touchscreen that controls nearly all functions, from navigation to climate settings. Its panoramic glass roof and spacious cargo area—up to 68 cubic feet with the rear seats folded—make it a versatile choice for families or outdoor enthusiasts. Charging is convenient, with access to Tesla’s Supercharger network, which can add up to 200 miles of range in just 15 minutes at a V3 Supercharger station.

Industry Trends and Buyer Implications

This financing promotion comes as Tesla ramps up efforts to maintain its dominance in the EV market amid growing competition from legacy automakers like Ford and General Motors, as well as newer players like Rivian. Low-rate financing can stimulate demand, especially as EV adoption continues to rise in the U.S., with sales projected to account for 10% of all new vehicle sales in 2025, up from 7.6% in 2023. For buyers, the 1.99% APR deal reduces the overall cost of ownership, complementing the Model Y’s already competitive pricing—starting at around $44,990 before incentives.

Operationally, the Model Y offers long-term savings through lower fuel and maintenance costs compared to gas-powered SUVs. Electricity costs for charging are typically 50–70% cheaper than gasoline for equivalent travel, and EVs have fewer moving parts, reducing the need for repairs like oil changes or transmission servicing. However, buyers should act quickly, as Sawyer Merritt noted in the X post: “Tesla’s 1.99% APR promotion for the new Model Y is ending on June 16th in the U.S.” With the deadline approaching, interested buyers can explore the offer and schedule a 48-hour test drive directly through Tesla’s website.

How to Take Advantage

To benefit from this offer, visit Tesla’s official Model Y page to order or view inventory. The 48-hour test drive option provides a risk-free way to evaluate the vehicle, ensuring it meets your expectations before finalizing the purchase. With the June 16 deadline looming, now is the time to secure this low-rate financing on one of the most popular EVs on the market.

Photos courtesy of Tesla / X