Tesla's 0% APR Offer Explained: Should You Lease or Finance? (November 2024)

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In this comprehensive video, I delve into Tesla's enticing 0% APR offer for the Tesla Model Y and Model 3, breaking down all the crucial details you need to know before making a financial commitment. First, I explain how the 0% APR financing works for each model—covering the 60-month financing period for the Model Y and the shorter 36-month financing period available for the Model 3. I also highlight the key requirement that both vehicles need a 20% down payment to qualify for the 0% APR offer and how the $7,500 EV tax credit plays a role in this equation. If you qualify for this tax credit, it can be applied toward your 20% down payment, potentially lowering your out-of-pocket costs. However, if you don’t qualify, you’ll need to cover the full 20% down payment yourself, which is an essential consideration for your budget.

In the second part of the video, I discuss the pros and cons of leasing versus financing these Tesla models with the 0% APR deal. This decision largely hinges on two critical factors: the length of time you plan to keep the car and whether or not you qualify for the $7,500 EV tax credit. Financing with 0% APR may be more appealing for long-term ownership, as it allows you to pay for the car over time without accruing interest. On the other hand, leasing may be a better fit for those who prefer flexibility or who anticipate driving newer models more frequently.

I break down how leasing and financing impact your overall costs, monthly payments, and financial flexibility, ensuring that you have all the information needed to make the best decision for your unique situation. By the end of this video, you’ll understand that choosing between leasing and financing isn’t a one-size-fits-all answer—it depends on your financial strategy, how you intend to use your Tesla, and what makes the most sense for your lifestyle and budget. Whether you're looking to minimize upfront costs, take advantage of the tax credit, or ensure the best long-term value, this video will guide you through the considerations to help you make an informed decision.

*This video is not financial advice, it is for educational and entertainment purposes only

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