This was posted 3 months ago, and might be an out-dated deal.

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2.99% p.a. Interest Rate (3.99% p.a. CR) on Tesla Model 3, Tesla Model Y RWD & Long Range AWD @ Tesla

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2.99% p.a. Interest Rate (3.99% p.a. CR) on Tesla Model 3, Tesla Model Y RWD & Long Range AWD @ Tesla
Go to Deal
Heybargain on 03/10/2024 - 11:46 tesla.com (6257 clicks)
Last edited 03/10/2024 - 15:45 by 1 other user

Similar to this previous deal however now applies to Model Y RWD & LR.

Tesla have on their website this morning offering 2.99% p.a. Interest Rate (3.99% p.a. Comparison Rate) on the Model 3 RWD & LR, Model Y RWD & LR for vehicles in inventory.

2.99% p.a. Interest Rate | 3.99% p.a. 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 Australian Financial Services Licence number 449176 and Australian Credit Licence number 449176. Both Plenti RE Limited and Plenti Finance Pty Ltd are members of the Australian Financial Complaints Authority (AFCA). View Plenti's Target Market Determination.

Model Y:

Comparison rate is based on a secured car loan of $30,000 repaid over 60 months. Rates shown are current as at 3 October 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.

Order and obtain finance approval for an eligible Tesla vehicle by 20 December 2024 and take delivery by 31 December 2024 to qualify. Valid only for eligible inventory purchases of new Model Y Rear-Wheel Drive and Model Y Long Range All-Wheel Drive with finance loan terms up to five years. Not eligible with balloon repayments. Credit subject to financier's approval. Terms, conditions, fees and charges apply. Interest rates are subject to change.

Model 3:

Comparison rate is based on a secured car loan of $30,000 repaid over 60 months. Rates shown are current as at 3 October 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.

Order and obtain finance approval for an eligible Tesla vehicle by 20 December 2024 and take delivery by 31 December 2024 to qualify. Valid only for eligible inventory purchases of new Model 3 Rear-Wheel Drive and Model 3 Long Range All-Wheel Drive with finance loan terms up to five years. Not eligible with balloon repayments. Credit subject to financier's approval. Terms, conditions, fees and charges apply. Interest rates are subject to change.

Referral Links

Referral: random (897)

Referee gets $1400 off Model Y & 3 purchase.

Referrer gets $700 credit toward Supercharging, software upgrades, merchandise, service payments or a new vehicle. Limit of 10 referral benefits per calendar year.

Automotive Car Car Loan Electric Vehicle Loan SUV Tesla Inc

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closed Comments

    • WhiteEvo6 on 03/10/2024 - 13:45
      +1

      Because not all countries get the same deals, are you negging every single deal on this site as we tend to pay more than many countries for most products 🤦‍♂️

    • jaygee on 03/10/2024 - 14:04

      Yes but how can she slap?

    • stevelo on 03/10/2024 - 23:49

      Because Tesla need to compete with all the China local EVs

    • MDSUXKS on 03/10/2024 - 12:11

      Also I hope using your car to storage electricity than use back to your house. Like whne we have the first smartphones and people said oh I like to have a radio a camera a phone a fax etc haha

    • smartazz104 on 03/10/2024 - 12:16
      +14

      Comedy.

    • Illyria on 03/10/2024 - 12:37
      +2

      LOL <insert carrot on stick and donkey.gif>

    • freefall101 on 03/10/2024 - 13:29
      +12

      There's a sucker born every minute.

      It has been 8 years since Tesla did a completely fake "demo" of full self driving and 9 years since they started charging people for autopilot/FSD. I look forward to people being able to sign up to the "beta" of robotaxi for the low cost of $5k a year and it'll totally make them money when it's actually released.

      • UnrealMacaw on 03/10/2024 - 13:39

        Wasn't bhunter101 being sarcastic?

        • freefall101 on 03/10/2024 - 13:55
          +3

          Probably. It sounded all too like the actual Tesla fanboys out there so the sarcasm went over my head.

    • ozbking on 03/10/2024 - 13:56

      Except that their "Tesla Vision" is severe hamstrung by the lack of LiDAR, and now the lack of radar and ultrasonic sensors…

  • tommynolips on 03/10/2024 - 12:08

    Wasn't this 1.99% a month or 2 ago?

    • Fredfloresjr on 03/10/2024 - 12:14
      +7

      I didn't negged you, but can you direct me to a better rate?

      • krisspy on 03/10/2024 - 12:25
        +2

        A novated lease if your eligible

        • motlking on 03/10/2024 - 12:43
          +3

          Novated lease but pay 2-4 times the interest rate depending on what your novated lease you have access to. Not sure if it still works out better.

          • patchyz on 03/10/2024 - 12:51
            +3

            @motlking: I got a Tesla at the 2% a few years ago and novated leases are available to me. I did the math and got a quote, it did not work out even close to better. Because you're not buying any fuel, not servicing etc there is very minimal the novated lease can claim on.

            • mrcosmo on 03/10/2024 - 13:01
              +7

              @patchyz: Things have changed a lot now. The payments come out pre tax with an EV so can save a lot on tax depending on your circumstances. Also can claim electricity.

              • musai on 03/10/2024 - 13:06
                +2

                @mrcosmo: but they charge you 12% interest

                • buthidae on 03/10/2024 - 14:16

                  @musai: I didn’t get a Tesla but Commbank did my EV NL finance at ~8%

                • basketcase86 on 03/10/2024 - 20:29
                  +2

                  @musai: Novated lease if you are in 47% bracket is a no brainer. The car will cost 2-3k less than teslas price. Plus all electricity rego and insurance paid for. It’s rediculously good. That’s objective fact due to 100% pre tax. If you have a bad job security or heavily in debt… that’s about the only downside. My M3P 2024 will cost 83k post tax dollars after 5 years of rego insurance etc… it’s a great way to go.

              • MDSUXKS on 03/10/2024 - 19:36

                @mrcosmo: Ah can you claim electricity? How that works? Thx in advance

                • mrcosmo on 03/10/2024 - 19:43
                  +1

                  @MDSUXKS: You can either claim 4.2 cents per km or provide receipts if you mostly use public chargers. Your novated lease provider will then give you a refund at the end of the FBT year.

                  • MDSUXKS on 03/10/2024 - 20:06

                    @mrcosmo: Thx mate I actually opened that reddit trend that explains all. Mate that is insane

            • mousie on 03/10/2024 - 13:03

              @patchyz: Insurance?

            • Fredfloresjr on 03/10/2024 - 13:08

              @patchyz: I am claiming my charging expenses without a miss. I find the value on my NL as I am paying 50k tax per year. Really worth it on my end.

            • Agileduck on 03/10/2024 - 13:18

              @patchyz: Thank you for the info. Can you clarify, it wasn’t worth buying outright at the 2.99%? Vs the 2% novated rate I mean.

          • mboy on 03/10/2024 - 13:08
            +3

            @motlking: Whether it works out better for you depends on several factors. For me, the savings from having payments taken out of pre-tax salary (along with the fringe benefits tax exemption on EVs) far outweighed the higher interest rate I got on the novated lease financing (which I was also able to negotiate down to about 8.4%). Over a two-year term, I'll save around $10k on a $62k EV with the novated lease compared to financing at a 2.99% rate, with all other running costs being equal and owning the car outright at the end.

            There's some good info in this Ozb comment if you want to understand who saves the most on an NL:
            https://www.ozbargain.com.au/comment/15711897/redir

            • based on 03/10/2024 - 16:31

              @mboy:

              with all other running costs being equal

              But they're not are they? Don't you get to charge, insure etc out of pre tax income with the NL, making it even more attractive?

          • krisspy on 03/10/2024 - 15:51

            @motlking: It's fbt free. I leased an atto 3 when it was retailing for $48k, my loan repayments alone for the life of the lease is just $300 more than the drive away of the car. The lease company is taking a massive chunk (about 11-12% comparative rate) but it was still the cheapest loan I could get.

            All running expenses are discounted by my personal rate (saving about $1.5k a year compared to paying it post tax). I've got solar so I make money on that when I claim electricity lol (~$800 per 20000km)

            • greennick on 03/10/2024 - 17:03

              @krisspy: you can claim electricity at the full rate of what you pay from the grid (regardless of if it is solar or from the grid)? interesting.

              • krisspy on 03/10/2024 - 18:49
                +1

                @greennick: Alot of lease companies didn't accept claims for electricity unless you had a separate meter for your home charger that you can send them usage, ATO recently released guidelines saying you can claim 4.2cents per km. Most lease companies only need odo logs to claim this granted you're not double dipping with receipts from public chargers

        • DingoBlue on 03/10/2024 - 13:06
          +1

          Has anyone had success finding a novated lease provider that will allow [whoever is financing this] to be the financier?

          • beltdrive on 03/10/2024 - 15:06

            @DingoBlue: I don't know if you'd be able to

            The best way to get a cheaper novated lease is to pit the companies against each other, if your employer lets you chose a leasing company. there's also broker services like Auto Expert who can get a good deal for you, with a commission

          • LeoSpaceman on 03/10/2024 - 21:34
            +1

            @DingoBlue: @DingoBlue - I think this would be the silver bullet. I understand that some NL providers allow for self-organised financing. So getting Tesla’s financing could be the best of both worlds: novated lease FBT benefits PLUS the low interest rate.

            I’ve heard interest rates from novated lease providers can get pretty bad. I also agree with the commenter below re pitting the companies against each other given how easily I’ve had car dealers match loans. The challenge is I don’t think many employers are set up with more than one NL provider…

    • sam60110 on 03/10/2024 - 12:30

      Didn't know cars were supposed to go up in price or value.
      You're better off buying S&P500

    • get-innocuous on 03/10/2024 - 12:39

      You could park your money in your offset saving 6.5% p.a. interest making this about a 3% arbitrage if you were buying a Tesla anyway.

      But a better deal is a used Mazda 3 for like ten grand.

      • MrMoo on 03/10/2024 - 13:08
        +1

        Yer but then how low can you go? If you work nearby a better deal would be buying a bike than the Mazda.

        • killingtime on 03/10/2024 - 17:14
          +1

          Why not just walk, no need for shoes even.

      • U30004 on 03/10/2024 - 13:36
        +5

        Wheer you gettin used mazda 3 for 10k?

      • ChickenAdobo on 04/10/2024 - 00:26

        Would not drive a POS Mazda 3 . No carplay and no adaptive cruise controls.

      • 811b11e8 on 04/10/2024 - 05:43
        +1

        Yeah and my partner and baby would probably be dead along with a few others.

        The Tesla driving aids saved her from a couple of serious crashes when she was sleep deprived new mum.

    • ozbargainer88 on 03/10/2024 - 12:23
      +24

      Cookers are driving yank tanks, not EVs…

    • mboy on 03/10/2024 - 12:26
      +2

      Yes of course, because cookers are known to fully embrace new technology trends.

      A computer on wheels, which is “always online” and features an interior cabin camera; “the ultimate cooker mobile”, but maybe not when they move to 5G SIM cards.

      • Lichen6420 on 03/10/2024 - 12:31

        Jokes on you… all Tesla's have a SIM card that comes supplied with the car, they have a permanent link to the mothership. And it's not accessible and you can't disable it.

        • mboy on 03/10/2024 - 12:36
          +3

          “Jokes on me” because you pointed out something that I already acknowledged in my comment? What do you think “always online” means?

          I was clearly highlighting how absurd it is to call a Tesla “the ultimate cooker mobile,” since it’s not the kind of car a cooker would go for, given their paranoid, conspiracy-nut mindset. Sounds like the sarcasm was lost on you.

          • Lichen6420 on 03/10/2024 - 14:31
            +1

            @mboy: Absolutely was missed on me…. Whoosh

            It seems we agree after all

        • ozbking on 03/10/2024 - 14:02

          That's right, and hence why Tesla's are the worse cars to use for criminal activities. The metadata from the sim is so easily traceable, you are effectively allowing law enforcement to track where you are.

    • pharcyde on 03/10/2024 - 13:24

      Neckbeards 🤝 saying cooker

    • Farticus on 03/10/2024 - 13:30

      Better to be a cooker than be cooked.

  • punkel on 03/10/2024 - 12:27

    They’re listening

  • vorsprung on 03/10/2024 - 12:40
    +3

    🍿

  • pharkurnell on 03/10/2024 - 12:47
    -3

    HODL at the rate of price drops they'll be giving em away to homeless to live in…

  • Dirkmirk on 03/10/2024 - 12:58

    Is this worth the $25,000 premium on the cheap MG EV?

    • Windows98 on 03/10/2024 - 13:06
      +14

      If you're into more tech, better driving assists, better connectivity with your phone and ota control, and use the in car entertainment to it's full potential then yes this is a better car

      If you're not fussed about tech things, won't be using your phone app to control car features, don't like adas and auto cruise control, and just want a car that takes you from A to B that is decent and looks and feels like all the other cars you've had over the years with buttons and stalks that are familiar. The MG is a steal.

    • lookslikescreech on 03/10/2024 - 13:10
      +3

      Charger availablity and reliability might be an issue. I don't own an ev yet, but I am a lurker and Tesla chargers seem to be the most reliable. Granted there may not be many where you live so they may not be a factor
      Edit to say a lurker of forums and ev discussions, not at chargers. I'm not watching you charge your car hahahaha. Proof reading is important.

      • Dandaman21 on 03/10/2024 - 16:50

        If you don't own an EV, without being a dick you're not really qualified to talk about charger availability. I do own an EV, it's not a Tesla, and I can assure you there's no availability issues that any Tesla driver wouldn't also face.

        • 811b11e8 on 04/10/2024 - 05:52
          +1

          I own a Tesla and recently had my home charger unavailable.

          I tried both local engie and Chargefox chargers it’s an absolute cluster compared to Tesla. In a couple of weeks I had multiple chargers not working I had to sign up to 3 different apps. I had to install plug share to find if a charger still worked. Some chargers where also much slower then advertised.

          In the end I gave up with other chargers and just drive 30 mins away to Tesla charger to save the frustration.

          Having home charging is a necessity, on long trips plenty of chargers on tourist routes but locally was nightmare.

          Also want to not my mate/neughbor got a byd and won’t take it away on a weekend again after they got stranded with a public charger not working. Had to have it towed to another charger. Not takes his old Subaru ICE for weekends away. This is a guy that is super organised too he just didn’t plan for broken chargers.

          • Dandaman21 on 04/10/2024 - 16:52
            +1

            @811b11e8: I've used Evie, Chargefox and Elu chargers from Tweed to Bundaberg, only once have I had an issue which was at Northlakes Ikea and apparently that's a known dud due to lack of reception, would have been fine if I had an RFID card. But, like your mate with his BYD, I also have access to a whole bunch of tesla chargers too (if I feel like being overcharged), which despite your optimism I can assure you, are also susceptible to breakdowns and failures.
            Though anyone who stops using their car because of one broken charger probably isn't someone I'd be holding up as an example.

    • WhiteEvo6 on 03/10/2024 - 13:51
      +4

      I think it depends on your own situation financially. For me Yes. I tested and researched both and I’m glad I went with the Tesla. Charging network and software is excellent. Just got home from a Melbourne to Port Pirie SA trip, 1860km round trip and it was a great experience.

      • Arsenal on 03/10/2024 - 14:34
        +3

        Yup, have done multiple long trips in our Standard Range, including Sydney Hobart return a couple of months ago, and it is fantastic.

    • chuq on 03/10/2024 - 14:26
      +1

      Saw this article specifically about that:

      https://thedriven.io/2024/10/02/i-strayed-from-the-tesla-cul…

    • basketcase86 on 03/10/2024 - 21:15

      They aren’t even in the same race. Tesla kills them especially in the tech. Source: driven both.

    • wfdTamar on 04/10/2024 - 07:26

      I've test driven the MG4 (XPower & 77), Tesla Y (RWD) and Polestar 2 recently. The MG is fine and good value for the money, but I didn't like how dark it is inside. The ergonomics weren't quite right for me (but only minor). The Polestar and Tesla were much nicer (and quieter). I could possibly go for a new Tesla except the Juniper refresh is imminent (anything from a few months to a few years!) and that'll kill the value of the current model. I like that there's a big range of accessories for Tesla. I don't like that they seem to be a target for anti EV yobs (but they do have Sentry mode to possibly catch them).

      The MG will only get software updates at servicing, so you could wait 2 years. They're also really slow to fix issues. That rules it out for me. I want over the air (OTA) updates so they get installed when released. That's one big advantage to Tesla and Polestar. Polestar also does CarPlay & Android Auto. Tesla are so arrogant that they don't allow it, but there are third party screens that will do it.

      The MG is $2700 to service over the 10 year warranty (XPower may be more - not sure).

      Polestar 2 has free servicing for 5 years (not sure what it costs after that). 5/8 year warranty.

      Tesla has very minimal servicing (and you could DIY it), but also a low warranty. I think 4 years/80,000 km on the car. Longer on the battery.

      What I really want is a Tesla 3 with a hatch.

  • Doofie69er on 03/10/2024 - 13:08

    Hmm how does this compare to a Novated Lease at this interest rate? I am thinking the out of pocket costs are coming in very similiar over the loan period.

    • ZIngerBurgR on 03/10/2024 - 13:27

      NL effective interest rate is roughly:

      Interest rate - income tax rate.

      So, usually it's a negative %.

      So in this case a 1.99% interest rate loan would be more expensive.

      I'm on a NL for around 9% rate. Tax rate 37%. The maths works out.

      • Doofie69er on 03/10/2024 - 13:33
        +1

        thanks

        I got a NL quote for fortnightly 385.96 x 26 x 5 yr = $50,174 + 15,205 residual = $65,379

        vs. Tesla finance $15,205 down + $818 P/M x 60 month = $64,285

        which makes Tesla cheaper…

        I can't work out if I am mathing wrong

        • Tazzaaa on 03/10/2024 - 13:37

          Wouldn’t the novated lease include, rego, insurance, tyre replacements and potentially charging, while the Tesla would just be for the car ?

          • Doofie69er on 03/10/2024 - 13:37
            +1

            @Tazzaaa: ah yes you are correct. Maybe that's the only difference.

        • Jacobbby on 03/10/2024 - 13:40
          +1

          That NL quote is insanely cheaper than what I've been offerred for a RWD MY
          What company is that through out of interest? I'm getting around the $550 a fortnight mark

          • Doofie69er on 03/10/2024 - 13:55
            +1

            @Jacobbby: I had Oly and Novated Lease Australia competiting against each other and was to sign a new company up with a few employees jumping on board.

          • Doofie69er on 03/10/2024 - 19:28

            @Jacobbby: Im in 37.5 % tax bracket that might be the difference?

          • basketcase86 on 03/10/2024 - 21:16

            @Jacobbby: Depends on your income.

        • May4th on 03/10/2024 - 14:55

          your repayments are pretax however?

          • Doofie69er on 03/10/2024 - 19:28

            @May4th: The numbers above are post tax. Pretax fair bit higher. So just comparing out of pocket costs

        • LuckyDealer on 03/10/2024 - 15:13

          Do you have any thoughts on buying on ABN vs NL?
          My wife has ABN and I have NL option available….haven't done the full math but here are my thoughts:

          NL quote for fortnightly 385.96 x 26 x 5 yr = $50,174 + 15,205 residual = $65,379 + ongoing running cost pre-tax.
          vs Tesla finance $15,205 down + $818 P/M x 60 month = $64,285 fully pre-tax on ABN = that becomes much more cheaper.

          I think I am missing something very big here. Can someone please shed some light? I will also talk to my accountant before making a decision.

          • Boodek on 04/10/2024 - 09:35
            +1

            @LuckyDealer: If you are a private company it seems you are better off taking out a business loan - all repayments and associated costs (tyres etc) tax-deductible and GST on the purchase (most of it anyway) refunded.

        • Wildesy on 03/10/2024 - 15:16

          You’re comparing pre-tax payments to post tax payments. It’s income dependent, but NL is extremely favourable when looking at EVs. Do a bit of searching of AusFinance and these forums, there’s a guy (changyyangy or something) that’s done all the hard work for you to allow you to properly compare.

        • ZIngerBurgR on 03/10/2024 - 20:10

          Nah your lease provider is just taking the piss. Can you shop around for providers or financiers?

          PS My Atto 3 (which cost $51K to buy with cash in 2022) will only cost me $45K all things considered.

  • Bid Sniper on 03/10/2024 - 13:08
    -1

    Prices will keep dropping sharply.

    There isnt tariffs here against Chinese EVs, competition has overtaken, brand has become toxic, all resulting in sales decline for Tesla.

    • Fredfloresjr on 03/10/2024 - 13:33
      +4

      Who overtook? And why toxic? Because of the paint? Where tf you get your info about the decline in sales? Clean your sniper scope.

      https://www.nytimes.com/2024/10/02/business/tesla-electric-v…

      • WhiteEvo6 on 03/10/2024 - 14:03
        +4

        Don’t confuse the haters with facts 🤣🤣

        • Lichen6420 on 03/10/2024 - 14:36
          +7

          I own a Tesla and I do really like the car. But I hate that it’s associated with Elon Musk.. the guy is such an ass.

          • cerealsmok3r on 03/10/2024 - 14:42
            +1

            @Lichen6420: agreed. he really needs to step down or something

          • bluey47 on 03/10/2024 - 16:46
            +2

            @Lichen6420: I love my Tesla, best thing I have owned and still improving. Instead of hating that he is an ass and associated with Tesla I embrace it. I think Elon being an ass is the key ingredient to how good the car is and how often his endeavours succeed.

          • SerialExperience on 04/10/2024 - 08:14

            @Lichen6420: This might shock you but most CEOs are assholes. Some are just more public than others.

      • ilovefullprice on 03/10/2024 - 16:13
        +1

        Tesla’s share price also sanked overnight, a good unbiased indicator.

        Anyone reading the NYT would know that this is not an unbiased paper. The paper has a tendency to protect left wing interests and not have more of a balanced view.

        • 811b11e8 on 04/10/2024 - 05:58

          Watching shares overnight is just stupid.

          Shares are an investment you make for years or decades.

          Numerous studies have showed dead people’s portfolios outperform on average simply because they don’t look at shares nightly lol.

          • ilovefullprice on 04/10/2024 - 09:06

            @811b11e8: The difference with this sank was Tesla released their quarterly delivery report overnight, and the market reacted negatively to it.

            Sure it may rise up the next few days or the future but that’s not the point. The point was the market reacted negatively to this overnight news.

            Also talking about long term investment views like this is not considering going concern risks. Due to various reasons related to Elon, people in the U.S. are now looking at other EV brands like Rivian. Iykyk.

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