If you’re financing a Model Y through Tesla right now, don’t budget around 0% APR. That promotion ended earlier this year, and the current offer has its own expiration date.
What the rate actually is right now
As of September 10, 2026, Tesla is advertising 0.99% APR for 72 months on the 2026 Model Y Premium All-Wheel Drive, according to CarsDirect’s tracked Tesla deals page, which lists the offer expiring September 30, 2026, and requires 10% down with financing through Tesla Auto Financing. That’s a change from earlier in 2026: the base Model Y Rear-Wheel Drive carried 0% APR financing dating back to December 2025, and CarsDirect reported on August 6, 2026 that the 0% offer had ended, with the base trim’s rate rising to match the Premium trim’s 0.99%.
Why the number you see might not match your order
Tesla’s advertised APR varies by trim, region, and credit tier, and it moves through the month as the company adjusts demand. Rates on Model Y Performance and Model 3 trims have run higher than the Rear-Wheel Drive and Premium Model Y numbers in past months. Treat any rate you read online, including the one in this article, as a starting point rather than a locked-in offer — confirm the actual APR, term, and down payment requirement in your own Tesla order flow before you sign, since it can differ by the time you’re ready to buy.
What to compare it against
A sub-1% Tesla rate is hard for an outside lender to beat, but it’s still worth a five-minute check with your bank or credit union. Some offer promotional EV loan rates, and a pre-approval gives you a real number to compare Tesla’s offer against instead of taking the advertised rate on faith. Also confirm whether the low rate requires financing the full price with no manufacturer discount applied — automakers, including Tesla, sometimes structure their lowest advertised rate and their biggest price cut as mutually exclusive options, so read the fine print on your specific offer before you decide which one saves you more.
Photo by Vitaly Gariev.