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Zenger
Zenger
Shanthi Rexaline

Tesla Extends Loan Duration Amid Rising Interest Rates

Interest Rates Elon Musk US Federal Reserve Christian Marquardt Nasdaq Tesla Inc.
Tesla CEO Elon Musk attends the official opening of the new Tesla electric car manufacturing plant on March 22, 2022 near Gruenheide, Germany. The new plant, officially called the Gigafactory Berlin-Brandenburg, is producing the Model Y as well as electric car batteries. PHOTO BY CHRISTIAN MARQUARDT/GETTY IMAGES 

Tesla. Inc. (NASDAQ:TSLA) CEO Elon Musk previously expressed concerns about the impact of rising interest rates on car purchases and floated the prospect of cutting vehicle prices even further.

What Happened: The company’s website shows that the duration of a loan extended by a Tesla financier or third-party lender will now be 36 to 84 months. The cap was previously at 72 months.

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