Tesla Corporate Program and Interest-free Loan Restrictions

Author: Kwiksure Team create date

Created On: 2024-11-11 edit date

Edited On: 2024-12-06

Want to get your hands on Tesla models at a better price? In addition to the government offering a maximum of HK$172,500 in first-time registration tax relief for electric vehicles (EVs) under the “One-for-One Replacement” scheme, Tesla is also offering incentives under their Corporate Program that includes interest-free installment loans in addition to reduced vehicle prices. In this article, Kwiksure will provide you with an in-depth look at the details of Tesla's Corporate Program, the application process and things to pay special attention to.

Tesla Corporate Program | What Are the New Prices?

Tesla has been offering car purchase discounts under its “Corporate Program” specifically for select corporations and institutions in recent years, with different price deductions for different models. The discounts under the Corporate Program also change from time to time. The latest Corporate Program runs from now until 31 December 2024, and the discounts for every model under the Corporate Program are as follows (based on the “One-for-One” prices).

Tesla Model Y under Corporate Program \| Discounted Prices
Model	Rear-Wheel Drive	Long Range	Performance
Original Price (“One-for-One” Price)	HK$316,200	HK$402,900	HK$434,505
Discount	-HK$30,000	-HK$20,000	-HK$20,000
Prices under Corporate Program	HK$286,200	HK$382,900	HK$414,505

Tesla Model 3 under Corporate Program \| Discounted Prices
Model	Rear-Wheel Drive	Long Range	Performance
Original Price (“One-for-One” Price)	HK$254,200	HK$312,294	HK$396,880
Discount	-HK$10,000	-HK$10,000	-HK$10,000
Prices under Corporate Program	HK$244,200	HK$302,294	HK$386,880

Tesla Corporate Program | Purchase Steps

Select your favorite model and complete the vehicle ordering in a Tesla showroom
Submit a valid ID and make a down payment of HK$30,000 within 3 days from the date of ordering the vehicle
Complete vehicle delivery in Hong Kong within one month from the date of vehicle matching or on or before 31 December 2024 (whichever comes first)

Tesla Corporate Program | Interest-free Loans, Installments, and Down Payment

In addition to offering discounted car prices, the other biggest selling point of Tesla's Corporate Program is the interest-free installment loan program. However, note that with both the Model Y and Model 3, only the rear-wheel drive versions can enjoy interest-free installments. Some other models can access low-interest installments or may not have any installment loan program available.

In addition, the loan amount must reach 80% of the vehicle price and 20% of the vehicle price must be paid as a “down payment” (the minimum daily repayment is calculated for a 4-year loan term and assuming there are 30 days per month and is for reference only; the actual repayments shall be made monthly).

Tesla Corporate Program \| Model Y Installment Plan
Version	Rear-Wheel Drive	Long Range	Performance
Vehicle Price (One-for-One)	HK$286,200	HK$382,900	HK$414,505
Annual Flat Rate	0%	Installment loan not available	Installment loan not available
Minimum Daily Repayment	HK$159	——	——
Down Payment (Excluding License Fees, Insurance and Other Miscellaneous Expenses)	HK$57,240	——	——

Tesla Corporate Program \| Model 3 Installment Plan
Version	Rear-Wheel Drive	Long Range	Performance
Vehicle Price (One-for-One)	HK$244,200	HK$302,294	HK$386,880
Annual Flat Rate	0%	0.58%	0.88%
Minimum Daily Repayment	HK$136	HK$172	HK$222
Down Payment (Excluding License Fees, Insurance and Other Miscellaneous Expenses)	HK$48,840	HK$60,457	HK$77,376

Note: The above information is for reference only and Tesla’s announced terms shall prevail.

Frequently Asked Questions

How much are the price deductions under Tesla’s Corporate Program?

Under Tesla’s Corporate Program, the Tesla Model Y Rear-Wheel Drive version enjoys an additional HK$30,000 price discount, while the Long Range and Performance versions enjoy a HK$20,000 purchase discount. The Tesla Model 3 Rear-Wheel Drive, Long Range and Performance versions enjoy a HK$10,000 purchase discount.

How can I purchase a vehicle under the Tesla Corporate Program?

To enjoy the Tesla corporate offers, the purchaser must be a member of one of Tesla’s select corporations and organizations, and must also opt for the “InsureMyTesla” plan.

Contact Kwiksure to get motor insurance quotes

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The above information is for reference only. Kwiksure takes no responsibility for the accuracy and timeliness of the information. For the coverage, mode of compensation, benefit limit and premium levels of any specific insurance plan, please refer to the relevant policy terms.

Author Kwiksure Team

Kwiksure is a licensed motor insurance brokerage company with over 20 years of experience in insurance. The company strives to simplify insurance and select the best insurance plans for customers that fit their budget and coverage needs.

Kwiksure provides a range of insurance products, including car insurance, motorcycle insurance, cross-border insurance between Hong Kong and Mainland China, home insurance, travel insurance, domestic helper insurance, and voluntary medical insurance. The team has been named "Best Car Insurance Broker" and "Outstanding Leadership Award" by various media outlets over the years.

Author: Kwiksure Team

Created On: 2024-11-11