Tesla has sparked excitement among Canadian car buyers with a limited-time 0.99% APR financing offer on the Model 3, announced on February 6, 2025. This deal comes shortly after price hikes across Tesla’s lineup, making it a strategic move to keep the Model 3 accessible. With a deadline of March 7, 2025, for orders and March 31, 2025, for delivery, this promotion is a golden opportunity for EV enthusiasts. Let’s break down the details, including how much interest you’ll pay under this offer.
Key Points
- Tesla offers 0.99% APR financing for new Model 3 purchases in Canada, valid for orders by March 7, 2025, with delivery by March 31, 2025.
- Financing rates vary by term: 0.99% for 48 months, up to 4.99% for 96 months.
- Current Model 3 prices range from C$59,990 for RWD to C$79,990 for Performance, following recent price increases.
- Buyers can save significant interest compared to typical 5% APR loans.
The Financing Offer
Tesla’s new financing deal provides ultra-low rates for new Model 3 purchases:
- 0.99% APR for 36 months
- 0.99% APR for 48 months
- 1.99% APR for 60 months
- 1.99% APR for 72 months
- 2.99% APR for 84 months
- 3.49% APR for 96 months
This is a steep discount from typical Canadian auto loan rates, which often sit around 5% or higher. The offer applies to all Model 3 variants, but you’ll need to act fast to secure it.
Current Model 3 Prices
After a price increase on February 1, 2025, the Model 3 lineup in Canada now starts at:
- Rear-Wheel Drive (RWD): C$59,990
- Long Range All-Wheel Drive (AWD): C$68,990
- Performance: C$79,990
These hikes, ranging from C$5,000 to C$9,000, make the low financing rate even more valuable for offsetting the higher upfront cost.
How Much Interest Will You Pay?
The amount of interest you’ll pay depends on the loan term and Model 3 variant you choose. Below is a table showing the total interest paid for each variant at 0.99% APR over 48 months, compared to a standard 5% APR, assuming no down payment. Calculations use the standard loan formula: Monthly Payment = [P × r × (1 + r)^n] / [(1 + r)^n – 1], where P is the principal, r is the monthly rate (APR/12), and n is the number of months.
| Model 3 Variant | Price (C$) | 0.99% APR Interest (48 mo) | 5% APR Interest (48 mo) | Savings |
|---|---|---|---|---|
| RWD | 59,990 | 1,089 | 6,020 | 4,931 |
| Long Range AWD | 68,990 | 1,252 | 6,918 | 5,666 |
| Performance | 79,990 | 1,453 | 8,027 | 6,574 |
Notes:
- At 0.99% APR, monthly payments are approximately C$1,273 (RWD), C$1,463 (LR AWD), and C$1,697 (Performance).
- At 5% APR, monthly payments rise to C$1,375 (RWD), C$1,581 (LR AWD), and C$1,834 (Performance).
- Savings are the difference in total interest paid over 48 months.
- https://www.tesla.com/en_ca/model3/
For longer terms (e.g., 96 months at 4.99%), interest increases significantly but remains competitive. For example, a C$59,990 RWD Model 3 at 4.99% APR over 96 months incurs about C$14,960 in interest—still less than the C$15,795 at 5% APR over the same term due to the slightly lower rate.
Why This Matters
This financing deal can save buyers thousands compared to standard rates. For instance, on the base RWD model, you’d save over C$4,900 in interest over 48 months at 0.99% versus 5%. That’s money back in your pocket—or toward a Supercharging membership or Full Self-Driving upgrade. Plus, with gas prices fluctuating and EV incentives in play (like Canada’s iZEV rebate of up to C$5,000), the Model 3 becomes an even smarter investment.
Tesla’s Strategy
Tesla’s timing is deliberate. After raising prices, this low-rate offer keeps monthly payments affordable, likely aiming to clear inventory and boost Q1 2025 sales. It’s a tactic Tesla has used before—last year’s 0% APR deal (tied to FSD) drove a 6% delivery increase in Q3 2024. With no FSD requirement this time, the offer is more flexible and appealing to a wider audience.
How to Get It
Here’s what you need to do:
- Visit Tesla Canada and configure your Model 3.
- Select financing and choose your term (48 months for 0.99% APR).
- Use my referral code for extra perks: https://geni.us/tesla_referral.
- Submit your order by March 7, 2025.
- Take delivery by March 31, 2025.
- Ensure excellent credit for the best rates—check Tesla’s configurator for final terms.
Another OTA recall
The mainstream media once again is over-blowing an issue with 2023 Tesla Model 3/Y that has already been resolved.
The Tesla Referral Program
Want to maximize your Model 3 purchase? Tesla’s Referral Program adds extra value for both buyers and referrers. By using a referral link—like mine: https://geni.us/tesla_referral—you can unlock exclusive perks. As of early 2025, Tesla’s referral benefits in Canada typically include credits toward Supercharging, merchandise, or even a discount on your purchase (exact rewards vary and are updated periodically on Tesla’s site).
Final Thoughts
Tesla’s 0.99% Model 3 financing offer is a game-changer for Canadian buyers, softening the sting of recent price hikes with serious interest savings. Whether you’re drawn to the RWD’s affordability, the Long Range’s 568 km range, or the Performance’s thrilling acceleration, this deal makes ownership more attainable. If you’re ready to order, use my referral link https://geni.us/tesla_referral to unlock additional benefits—it’s a small way to support this content while scoring a bonus. But with the clock ticking, hesitation isn’t an option. Will this spark a Model 3 buying spree? Given Tesla’s track record, it just might.
