In October 2025, Tesla has quietly updated its financing and lease offers in Canada, introducing lower rates and more affordable monthly payments for the popular Tesla Model Y. The change comes just days after similar lease price reductions across the United States — signaling Tesla’s push to boost EV sales as 2025 enters its final quarter.
This move benefits both new Tesla buyers and those considering a used Tesla, making electric vehicle ownership in Canada even more accessible.
Financing Now as Low as 2.99% APR
Canadian buyers financing a Tesla Model Y Long Range (made at Giga Berlin) can now enjoy a 2.99% annual percentage rate (APR) — down from the previous 4.69%.
According to Tesla Canada’s online configurator for Vancouver, B.C., a sample setup with a $5,000 down payment and 60-month term results in an estimated monthly payment of $1,125.
The new financing structure includes:
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2.99% APR for up to 60 months
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3.49% APR for 72- and 84-month terms
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3.99% APR for extended 96-month financing for qualified buyers
These updated rates make the Tesla Model Y one of the most competitive electric SUVs on the Canadian market — especially for drivers comparing used Teslas and new models.
Lease Payments Drop to $829 per Month
Tesla Canada has also lowered lease rates for the Model Y, now starting at $829 per month for a 48-month lease, with 16,000 kilometres per year, after a $5,000 down payment and $5,955 due at signing.
This marks a significant drop from the previous $999 monthly lease, saving customers over $8,000 across the full lease term.
These new Tesla lease deals are now live on the Tesla Canada website and apply to new and existing Model Y orders that have not yet been delivered.
Comparison: U.S. Rate Cuts Earlier This Week
The Canadian rate adjustments follow a similar price drop in the U.S., where Model Y lease payments fell by up to $100 per month.
What It Means for Tesla and Used Tesla Buyers
Whether you’re considering a brand-new Tesla Model Y or exploring used Tesla options such as a Model 3 or Model Y Long Range, these new rates make 2025 an ideal time to purchase or lease in Canada.
For Canadian EV shoppers, the reduced financing and lease offers highlight Tesla Canada’s continued commitment to making electric vehicle ownership more affordable, sustainable, and accessible nationwide.
How to Buy a Used Tesla
Looking to buy or sell a used Tesla in Canada? At Carnex, we provide transparent vehicle history reports, professional inspections, and competitive valuations to help you shop with confidence.
Are you considering a Tesla Model Y or model 3 for sale in Canada? If you enjoy our content and want to book a free test drive, please give us a call now! ☎️:647-812-1067
We have tons of Tesla inventory! Used Model 3, Model Y… Carnex is EV specialist whose location is in Mississauga, Ontario. We will provide low price and high quality if you choose to buy used Tesla from us. Feel Free to contact if you have any questions!
article source: drivetesla Canada
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