Tesla just bumped the Model Y APR to 1.99% across the board, ending the previous 0.99% and 1.49% offers.
What Changed
The standard Model Y moved from 1.49% to 1.99%. The Performance version sits at 3.99% and the Long Range at 5.59%. That is still far better than most bank loans right now.
Why the tesla financing rate increase Feels Acceptable
Inventory discounts and referral credits are offsetting the higher rate for many buyers. The model y apr increase also lines up with broader market rates, so Tesla is not alone here.
Impact on tesla model y long range financing
Buyers eyeing the Long Range version still face 5.59%. That gap makes the standard range or inventory deals more attractive for anyone using financing.
What This Means for Owners
If you are already locked in at the old rate, nothing changes. New buyers should compare the new 1.99% against local credit union offers and factor in any remaining inventory discounts.
Looking Ahead to tesla model y deals 2026
Rates could move again before year-end. Locking in current terms now may still beat waiting if the trend continues upward.
Check the full breakdown in my latest video here: https://youtube.com/watch?v=_gEYS26lvUU
For a deeper look at whether the new rate is worth it, read this post. I also explain the full timeline of the tesla financing rate increase here.
Tesla referral — 3 months free FSD + low APR financing
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