Tesla has halved the minimum down payment on its five-year interest-free car loans in China. Under a financing plan launched on 30 October 2026, which Tesla calls Te Congrong (roughly "unhurried"), a Model 3 or Model Y can be bought with ¥39,900 down, about €5,380 at the European Central Bank's 29 October rate. When Tesla offered five years at 0% in September, the minimum was ¥79,900, CnEVPost reports.
The plan covers orders placed from 30 October to 30 November. It applies to the Rear-Wheel Drive, Long Range Rear-Wheel Drive and Long Range All-Wheel Drive versions of both cars, and to the six-seat Model Y L, which needs ¥59,900 down.
Two ways to pay
Both loans run for 60 months at 0%. The first keeps the monthly payment low by leaving a fixed final payment of ¥39,900 due at the end of the term. The second has no final payment and higher instalments. On top of the financing, the Model 3 carries a limited-time discount of ¥10,000 and the Model Y one of ¥4,000, according to Mydrivers.
| Version | List price | Discount | Down payment | Monthly, with final payment | Monthly, no final payment |
|---|---|---|---|---|---|
| Model 3 Rear-Wheel Drive | ¥235,500 | ¥10,000 | ¥39,900 | about ¥2,429 | about ¥3,094 |
| Model Y Rear-Wheel Drive | ¥263,500 | ¥4,000 | ¥39,900 | about ¥2,995 | about ¥3,660 |
| Model Y L | ¥339,000 | ¥4,000 | ¥59,900 | about ¥3,920 | about ¥4,585 |
The examples are Tesla's own, as reported by CnEVPost; financing is subject to lender approval. The figures add up exactly at zero interest. The lower down payment is not a price cut, though: in the first version, the cash Tesla no longer asks for at the start falls due after five years.
A car for the price of a computer
Tesla's promotional material, as quoted by the Chinese outlet ifeng Tech, cites Elon Musk's view that rising memory-chip prices have pushed some high-performance computers close to the price of a Tesla. On that logic, it says, buying a Tesla amounts to "buying an in-car computer and getting the car free". It sets a top-specification Mac Studio, at ¥229,000 in China, against the Model 3 at ¥225,500 after its discount. Tesla values the whole package at more than ¥62,000, counting the interest saved, a paint-option allowance of ¥8,000, a discounted home-charging package and 5,000 km of free Supercharging.
Why now
Tesla's sales in China have fallen year on year for four months running. September's 64,837 domestic sales were the best month of the year and still 9.35% below September 2025, and the first nine months were down 11.93% at 381,088, as TeslAnt reported from the CPCA figures. The new plan follows the quarter-end cash offers on inventory cars that Tesla ran in September.
Rivals are cutting too. Li Auto relaunched its i6, a five-seat electric SUV in the Model Y's class, on 28 October at an unchanged ¥249,800, with ¥10,000 off for buyers who order by 30 November, CnEVPost reports. That is the same deadline as Tesla's plan.
What it means in Europe
The offer applies only in mainland China. Shanghai also builds the Model 3s sold in Europe, and over the first nine months its exports rose 108% to 361,972 while its Chinese sales fell. The CPCA's November figures, due in early December, will show whether a smaller down payment brings Chinese buyers back.