Tesla introduced on late Thursday a 0% interest rate for new Cybertruck orders in the United States as it aims to boost second quarter demand.
The new incentive applies only if customers purchase the Full Self-Driving (FSD) option with the vehicle.
The company’s supervised FSD system is available in the United Statesas a $99 monthly subscription or a single-payment purchase of $8,000, allowing its customers to drive “hands-off, eyes on” the road.
The announcement was made on X. “Fine, you got me. 0% APR if you pay for my brain too,” Tesla Cybertruck official account posted.
Customers must take delivery of the vehicle by June 30 and the rate applies to 60 month loan terms only.
According to Tesla‘s website, if a customer purchases the Cybertruck through a financing loan, a 5.54% interest rate applies.
The entry-level trim is currently priced from $69,990 in the market, excluding the $7,500 EV tax break. With the FSD included, the base price goes up to $77,990.
After a down payment of $4,999, the Cybertruck Long Range purchased with FSD now costs about $1,250 per month for a 60 month period.
The same trim without the FSD is estimated to cost about $1,284 per month for the same period.
The announcement comes just a few weeks after Tesla expanded its trade-in program for the Cybertruck.
This means that Cybertruck owners can now trade the vehicle for a new (or used) Tesla. Previously, owners weren’t allowed to resell the vehicle for a year.
According to Business Insider, recent trade-in estimates on the Tesla app revealed that the Cybertruck quickly depreciated by over 30%. Deliveries of the model started in November 2023.
Automotive News reported late last month that Tesla has been storing hundreds of unsold Cybertrucks in the parking lot of a local shopping center in Detroit. According to Vice, the inventory stock could be worth up to $1 billion.
According to Tesla-Info, the company has over 3,500 Cybertrucks currently in inventory — worth over $250 million.
Business Insider had also reported in April that Tesla reduced Cybertruck production and trimmed its teams by more than half — reallocating the staff to Model Y production lines.
Data from Motor Intelligence revealed that Tesla sold 46,150 vehicles in the United States last month, a decline of 10.6% from the same period a year ago, despite a slight increase of about 275 units from April.
Late last month, Tesla U.S. extended its test drive offer to 48 hours for both existing owners and potential customers, reaching record numbers of test drive sign-ups.
The brand started offering discounts on the demo fleet of its new Model Y, which includes vehicles that have been used for test drives and showroom displays. Discounts go up to $1,200.
For clients purchasing the new Model Y Long Range All Wheel-Drive, there’s a 1.99% interest rate available until June 16. The entry-level trim is priced from $44,990, excluding the $7,500 tax break.
China Incentives
Sales in China dropped 15.0% year over year, with data from the China Passenger Car Association (CPCA) disclosing that the brand sold 61,662 vehicles in May.
Tesla China started offering free Full Self-Driving (FSD) and Enhanced Autopilot transfers for customers purchasing a new Model 3, Model Y, Model S and Model X.
Customers must take delivery of the new vehicle by June 30 to be eligible for the ‘Intelligent Assisted Driving Free Transfer Program.’ Tesla Australia followed the move.
Earlier this week, the company also launched a referral reward program, in which Tesla drivers can receive 800 points for each successful vehicle delivery resulting from their referral, up to a maximum of 10 referrals.
The 8,000 points will convert into a paint customization credit, which can be combined with 5 years of 0% interest rate loan and an 8,000 yuan ($1,100) insurance subsidy.
Tesla’s shares closed 14.3% down at $284.70 on Thursday, after Elon Musk and Donald Trump attacked each other over the President’s “big, beautiful bill” that aims to slash EV tax breaks.
