Tesla Model 3 Long Range costs $3,200 more to finance than last week

Tesla has updated the financing options for the Model 3 Long Range, making it $3,200 more expensive to finance than last week.

The Model 3 Long Range All-Wheel Drive is now eligible for the $7,500 federal tax credit, confirmed by Tesla and the IRS.

This makes the upfront purchase price $34,990, including estimated gas savings.

The Model 3 Long Range now has a 6.39% APR on loans up to 72 months.

In contrast, the Model 3 Rear-Wheel Drive offers a 1.99% APR for 36 months and 2.99% for 60 months.

Despite the $7,500 tax credit, the higher interest rate reduces potential savings.

CarsDirect estimates that on a five-year loan, the Model 3 Long Range has a $4,200 advantage instead of $7,500.

If you’re considering a Model 3 Long Range, compare your financing options carefully.

The higher interest rate may offset some of the tax credit benefits.

Always check for local dealers and consider alternative financing options to maximize your savings.