Tesla offers 84-month loans to its customers as interest rates rise

Making it affordable: People walking past a Tesla showroom. While 84-month auto loans have been gaining in popularity, the trend slowed early this year. — AFP

SAN FRANCISCO: Tesla Inc has started offering consumers 84-month auto loans after Elon Musk said the carmaker would “have to do something” about rising interest rates.

The company now includes seven-year loans as an option on its US order pages, after previously offering loans as long as 72 months.