Tesla has launched a new financing option for the Model 3 in the United States, offering 0.99% APR on loans up to 72 months. This deal applies to all configurations of the vehicle and replaces a previous 2.99% rate. The initiative seeks to enhance affordability for buyers of Tesla's second-most popular model.
Tesla announced the financing deal on February 15, 2026, as reported by journalist Sawyer Merritt. The offer covers the Model 3 Premium Rear-Wheel-Drive, Model 3 Premium All-Wheel-Drive, and Model 3 Performance variants. Customers can secure the low rate for terms extending up to 72 months, making monthly payments more accessible.
This move follows a similar promotion in China for the Model 3 and Model Y, which concluded on January 31, 2026. Tesla often employs such low-interest incentives to stimulate demand, particularly for its mass-market vehicles. The Model 3 ranked as the second-best-selling electric vehicle in the US for 2025, with 192,440 units sold, according to data from Cox Automotive. It trailed only the Model Y, which achieved 357,528 sales that year.
By reducing the financing rate from 2.99% to 0.99%, Tesla aims to attract more buyers amid competitive pressures in the electric vehicle market. The company highlights additional cost savings, such as lower maintenance and fuel expenses compared to traditional vehicles. This strategy underscores Tesla's efforts to maintain momentum for the Model 3, a key part of its lineup since its introduction.
