On October 24 2025, Tesla Canada has quietly launched new, lower financing and lease rates for the popular Model Y, just days after introducing similar price cuts across the United States.
The updated rates — now visible on Tesla’s official Canadian website — bring more affordable monthly payments and reduced interest rates, aiming to boost sales as we head into the final quarter of 2025.
Financing Now as Low as 2.99% APR
Buyers looking to finance a Tesla Model Y Long Range, built at Giga Berlin, can now take advantage of a 2.99% annual percentage rate (APR) — down from the previous 4.69%.
According to Tesla’s online configurator for Vancouver, B.C., a typical financing scenario shows:
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$1,125 CAD/month payment,
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$5,000 down payment,
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60-month term.
The 2.99% APR applies for up to 60 months, while 72- and 84-month terms are available at 3.49%, and 96-month financing comes in at 3.99% for qualified buyers.
This marks one of the lowest Tesla financing rates in Canada in recent years, making it easier for Canadians to own an affordable Tesla without compromising range or performance. If you buy used Tesla, you can save more, shop our inventory now>>
Lease Payments Drop to $829 per Month
In addition to financing, Tesla Canada has also reduced Model Y lease payments. Customers can now lease the electric SUV for just:
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$829 per month,
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Over 48 months,
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With 16,000 km per year,
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Following a $5,000 down payment and $5,955 due at signing.
This represents a major reduction from the previous $999/month lease, translating to over $8,000 CAD in savings over the full 4-year term.
The new rates apply to new and existing Model Y orders that have not yet been delivered, and are already live on Tesla’s Canadian website.
U.S. Rate Cuts Came First
The Canadian rate update follows similar Tesla lease reductions in the United States, where monthly payments dropped by up to $100 USD earlier this week.
However, U.S. lease prices remain lower overall — with Model Y lease offers starting at just $449/month.
Tesla has stated that these U.S. promotional rates are time-limited and will increase in November, while no expiry date has been announced for Canada.
Why This Matters for Tesla and Used Tesla Buyers
This move is more than just a pricing tweak — it’s part of Tesla’s aggressive Q4 2025 sales strategy in North America.
Lower financing and lease rates make it easier for new buyers to enter the Tesla ecosystem, and also strengthen the resale value of used Teslas such as the Model 3 and Model Y.
For buyers exploring the used Tesla Canada market, these changes mean:
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Stronger demand for used EVs,
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Better financing confidence,
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And more attractive upgrade options for current Tesla owners.
At Carnex, we’ve seen steady growth in interest for used Tesla Model Y and used Tesla Model 3 units, especially among customers looking for EV affordability and long-term value.
Final Thoughts
Tesla’s decision to lower rates across Canada reaffirms the company’s focus on making EV ownership more accessible.
Whether you’re considering a new Model Y or exploring a used Tesla in Canada, these new financing and lease offers make 2025 one of the best times to go electric.
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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