Tesla Introduces 84-Month Auto Loans and State Subsidy Calculator

Tesla is now offering 84-month auto loans to consumers in the US, after CEO Elon Musk expressed concerns about rising interest rates. While longer loan terms can lower monthly payments, they also increase the risk of owing more than the vehicle is worth. The popularity of such loans has slowed this year, with only 34% of new vehicle loans in the first quarter being longer than six years. Tesla delivered a record number of vehicles in Q2 but has sold fewer cars than it has produced in the past five quarters.