If you’re buying a new EV, then one of the challenges will be affordability. Electric Vehicles have famously had a higher upfront cost, but dramatically lower ongoing costs. Tesla are attempting to lower that barrier with new financing options for their Model 3 RWD and Model 3 AWD LR (sorry Model Y buyers).

For those looking to purchase a vehicle using finance, the interest rate has come way down at just 1.99% per year (3.57% comp rate). We’ll get to the terms and conditions in a second, but perhaps the most inviting option is that you can get into a Tesla for $0 down.

If you buy a base Model 3, white paint, black interior, then you’ll pay A$60,158 driveway (VIC). If you are in a position to buy outright, congratulations, however the majority purchase using some level of financing. Of course you could source your own vehicle loan from your bank of choice, but Tesla’s loan partner Plenti, is now offering $0 down payment and with a 60 month term (5 years), you’ll pay a loan payment of A$1,096 per month, or $252.92 per week.

That’s a pretty impressive price for a car that offers 513km (WLTP) range, a 0-100km/hr time of just 6.1 seconds, access to Tesla’s Supercharging network, Autopilot.

If you’ve got a little more to spend, there are options like paint choices of blue, grey, black or red, 19″ wheels (up from 18″), white interior (black standard), as well as software options including Enhanced Autopilot/FSD Capability and Premium connectivity.

If this is your first EV, keep in mind you’ll need to grab a charger from the Store (not included).

For more information, or take advantage of the opportunity, head to tesla.com/en_au/model3/

Terms and conditions

Order and apply for finance on an eligible Tesla vehicle by 31 August 2024 and take delivery by 30 September 2024 to qualify. Valid only for eligible purchases of new Tesla Model 3 Rear-Wheel Drive and Long Range (AWD) configurations for finance loan terms up to 5 years. Not eligible with balloon repayments. Credit subject to financier’s approval. Terms, conditions, fees and charges apply Interest rates are subject to change.

Comparison rate is based on a secured car loan of $30,000 repaid over 60 months. Rates shown are current as at 1 August 2024. Terms, conditions, and credit criteria apply. Fees and charges apply. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Credit provided by Plenti Finance Pty Limited ACN 636 759 861 (supported by its servicer, Plenti RE Limited ACN 166 646 635). Plenti RE Limited holds AFSL and ACL 449176.

This information does not constitute financial advice and you should consider whether it is appropriate to your circumstances before you act in reliance on it. For detailed advice and to discuss finance options tailored to your needs to determine the best finance option for your circumstances, we recommend speaking with a licensed independent financial advisor.