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

612
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 (2377 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.

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Comments

            • 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
            +2

            @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

                @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

    • 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

        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

          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?

    • ozbargainer88 on 03/10/2024 - 12:23
      +21

      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
      -1

      Neckbeards 🤝 saying cooker

    • Farticus on 03/10/2024 - 13:30
      -1

      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
    -2

    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?

    • Herbse on 03/10/2024 - 13:06
      +12

      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.

    • WhiteEvo6 on 03/10/2024 - 13:51
      +3

      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
        +2

        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

      Saw this article specifically about that:

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

  • 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.

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

          your repayments are pretax however?

        • 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.

        • 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.

  • Bid Sniper on 03/10/2024 - 13:08

    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.

    • coffeeinmyveins on 03/10/2024 - 13:15
      +4

      and the property market may crash tomorrow and everyone will be homeless

      • AnotherRedLight on 03/10/2024 - 13:26
        -4

        Yes sure, a relatively stable long term market over 30 years & with current surge of demand, Something everyone NEEDS (a roof over their head).

        Great comparison to an declining brand, 2024 current sales well down on 2023.

        Tesla valued at 780 billion and sold 1.8million cars last year.

        Toyota valued at 258 billion and sold 1.8million cars in a month and a half.

        As i said, huge financial risk - but you are more than free to make your own choice.

    • dealsucker on 03/10/2024 - 13:20

      You cant be serious and if you are, this daft. Are you telling us that whether someone is convicted or not in US depends on who is in power?

      • AnotherRedLight on 03/10/2024 - 13:27
        -7

        Absolutely. D.Trump will squash all Musk lawsuits.

      • ilovefullprice on 03/10/2024 - 16:29

        It’s absolutely is bro. One recent example is Diddy and those on Diddy’s list are now in hot water, when it’s commonly known Diddy parties have been happening for a long time now. In comparison, nothing is being talked about Epstein‘s list, which very likely contain large number of politicians.

    • pharcyde on 03/10/2024 - 13:25

      No, this is ridiculous.

    • hothed on 03/10/2024 - 13:26
      +2

      1 person does not make a company.

      • AnotherRedLight on 03/10/2024 - 13:30
        -1

        You dont think 1 man, the CEO can bring down a company?

        I have some shares in Enron to sell you.

        • LeonC on 03/10/2024 - 14:57
          +1

          Name the one person at Enron that caused Enron to collapse. Enron is a text book example of an extreme lack of governance from many parties both within and outside the organisaton.

          • RubenM on 03/10/2024 - 16:27
            -1

            @LeonC: Twitter is being collapsed slowly and their CEO has something in common with the Tesla CEO.

    • jaygee on 03/10/2024 - 14:05
      +3

      I'm no Musk supporter, but Tesla is bigger than him.

    • R4 on 03/10/2024 - 14:16
      +1

      What's the 'numerous crimes' that Elon Musk has committed?

      • AnotherRedLight on 03/10/2024 - 15:02
        +1

        An obvious red herring question. But here goes.

        Securities and wire fraud concerning Full self driving.

        Undisclosed (Russian) investments in Twitter.

        Numerous wrongful dismissal & unpaid entitlements for sacked twitter staff.

        Violations against the FAA and EPA with starlink.

        Oh and just a teeny tiny one where he broke the Logan act.

    • redfox1200 on 03/10/2024 - 14:43
      +1

      i didn't know diddy was going for president!

  • monty168 on 03/10/2024 - 13:25

    Thanks OP! Good time to buy an EV

    • Miowmeow on 03/10/2024 - 14:23

      No. Hold off for another 6 months. Ul probably get the rates down to 0.99%

  • CharlieAus on 03/10/2024 - 13:25
    +1

    "Order and obtain finance approval for an eligible Tesla vehicle by 20 December 2024 and take delivery by 31 December 2024 to qualify"

    So if they fail to get it to you by Dec 31 do they jack the rate up?

  • Cluster on 03/10/2024 - 13:36
    +8

    It's bizarre how every post about EVs becomes a political slanging match over China and US elections.

    If you don't like these cars, don't buy them. No one is forcing you to. Simple.

    • NoBargainNoLife on 03/10/2024 - 13:48
      +5

      Problem is those wanders don’t have a place to shit other than here.

  • Illyria on 03/10/2024 - 13:39
    -6

    Tesla will start throwing in free MAGA caps to sweeten the deal and compensate for the increasing cringe associated with the brand LOL

    • Fredfloresjr on 03/10/2024 - 13:43
      +2

      Hahaahahahaha yuck for choosing Harris

    • musai on 03/10/2024 - 14:01
      +6

      better than diaper no?

    • zacsg1 on 03/10/2024 - 14:12
      -1

      Would make the deal ever better!

    • R4 on 03/10/2024 - 14:18
      +1

      If I can get a free MAGA cap then I'm buying a Tesla.

      Sign me up.

  • pakikanga on 03/10/2024 - 13:40
    -4

    Before you buy a Tesla, I recommend you look at how much it costs to insure.
    https://i.imgur.com/FT79584.png

    • mboy on 03/10/2024 - 13:51
      +9

      Your screenshot's misleading, because that's just one insurer, and it looks like Budget Direct, who for some reason have a high risk profile for EVs, despite usually being one of the cheaper car insurers.

      Here's a breakdown of Comprehensive car insurance quotes I got on 20th August, for a MY24 Tesla Model 3 RWD (cheapest to most expensive annual premium):

      • Insurer / Annual Premium / Excess
      • Allianz / $1991 / $1100
      • RACV / $2008 / $1000
      • AAMI / $2055 / $1325
      • Zurich / $2446 / $1200
      • Youii / $3323 / $1150
      • Budget Direct / $4617 / $1000

      This was pretty surprising to me, because with my old 2007 euro car (which had a market value of about $10k), Budget Direct was by far the cheapest at around $720 (annual premium), with AAMI and Youi close behind. Allianz, on the other hand, was usually much more expensive, around $1800.

      • Lichen6420 on 03/10/2024 - 14:39
        +1

        Mine is $1,090/pa with $1,600 excess via Comminsure who resell on behalf of Hollard.

        38yo male. 36yo female with 1 at fault claim 2.5years ago.

      • cerealsmok3r on 03/10/2024 - 14:43

        damn thats so cheap. mine was 2.7k for the tesla and that was the cheapest i could find. the rest were around the 4k mark

    • ozbking on 03/10/2024 - 14:08
      +1

      That's a wildly higher quote than I've ever seen for a Tesla. Have you had a few claims recently? Or are you quite young?

      I just put in RACV quote, 30 year old with the RWD 2024 Tesla Model 3, living in Melbourne.

      $1904.94/Yearly

    • Legend279 on 03/10/2024 - 14:13

      Model Y have an issue with repairs to the corner of the cars. They are unable to repair if there is some damage to the corner panels and the insurance ends up writing off the car and hence the higher premiums.

    • Iwantthebestprice on 03/10/2024 - 14:28
      +1

      Wow, are you 18 and live in Alice Springs and had 5 previous claims against you?

      My last quote for a model Y LR via novated lease was $1900 per year.

    • Jamiea on 03/10/2024 - 15:09
      +1

      Cost me $1200 with NRMA

    • Fredfloresjr on 03/10/2024 - 13:43
      +10

      No one cares about your preference. No need to Neg Karteej. Yeah bro, all cars are flying by the time your MG catches up.

      • karteej on 03/10/2024 - 14:04
        -4

        No one cares for your preference either, but you are free to express your thoughts. MG is doing everything right, Tesla has become the new Apple - minor incremental improvements - while you can buy last year’s model at heavily discounted prices.

        • glenr on 03/10/2024 - 14:36
          +1

          This deal is for the newly refreshed Model 3 though… "Available for existing inventory of new Model 3 Rear-Wheel Drive and Long Range All-Wheel Drive configurations".

          Respectfully, your comparison, at least in this case, doesn't stack up.

    • glenr on 03/10/2024 - 13:57
      +3

      Not neg worthy.

    • ozbking on 03/10/2024 - 14:09

      Why do you prefer BYD / MG?

    • choofa on 03/10/2024 - 15:04
      +1

      I'd definitely consider the MG4 first
      But owning both BYD and Tesla I'd choose Tesla again definitely. BYD is good car but Tesla is just better, more responsive, feels tighter, autopilot is amazing, and the experience is significantly better overall.
      Plus BYD have a horrible customer service model here and they have been awful to deal with and have increased maintenance costs already.

  • tempting on 03/10/2024 - 13:51
    +1

    Probably need to highlight it is only available on existing inventory.. but perhaps there are a surplus of these on our shores now..

  • SirLaughsAlot on 03/10/2024 - 13:58
    +2

    Tesla maybe trying to move Old Tech, as newer Players have hit the streets. (Xpeng G6), and coming soon BYD Sealion 7,
    I test drove Tesla, and loved it. Waiting to test drive Xpeng G6.

    • UFO on 03/10/2024 - 14:51

      I think there's some truth to what you're saying here.

      EV sales have been a little softer overall this year, and I really think that has something to do with the fact there are so many new makes and models coming out next year. 25 is going to be huge for available EV's in Australia. Anyone seriously looking at their options for a new car right now (EV or not), would be holding off as its so close towards the end of the year.

      A really good interest rate (cheaper than home loans) may sway some of those buyers to pick up some of the excess stock Tesla has this year.

      I would expect that there will be even more deals as the clock to 2024 winds down and Tesla really start to get motivated to sell the backlog.
      Then as you get into 2025 and some of these newer models and makes come out, they'll discount the 24 stock even further.

      In a nutshell I reckon if you're serious in looking to buy an EV right, hold off just a few more months if you can.

    • glenr on 03/10/2024 - 14:55

      This deal is for the newly refreshed Model 3 though… "Available for existing inventory of new Model 3 Rear-Wheel Drive and Long Range All-Wheel Drive configurations".

  • cerealsmok3r on 03/10/2024 - 14:39
    +1

    does this apply to used / secondhand models??

  • ilovefullprice on 03/10/2024 - 14:58

    Why did the interest rate increased by 1% compared to the previous deal, when:

    • there’s a surplus of cars Tesla couldn’t sell.
    • the interest rate dropped in the US.
    • the interest rate remained the same in OZ.
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