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    Home » Tesla Model Y and Model 3 Top Luxury Vehicle Loan Inquiries, LendingTree Study Reveals

    Tesla Model Y and Model 3 Top Luxury Vehicle Loan Inquiries, LendingTree Study Reveals

    autoexpresscarBy autoexpresscarFebruary 25, 2025No Comments2 Mins Read
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    A new study from the online lending service marketplace LendingTree has revealed the strong appeal of Tesla vehicles among buyers seeking luxury cars. The research indicates that the Tesla Model Y and Model 3 received the most loan inquiries between January and November 2024 from individuals looking to finance a high-end vehicle.

    LendingTree Study Methodology

    To conduct the study, LendingTree analyzed over one million auto loan inquiries for passenger vehicles submitted between January 1 and November 30, 2024. The study leveraged Carfax’s “Complete Guide to Luxury Car Brands” to classify car brands as luxury, with Tesla included in the list.

    Tesla Model 3 and Model Y
    The Tesla Model 3 and Model Y models, as highlighted by LendingTree. (Source: Teslarati)

    Key Findings: Model Y and Model 3 Lead the Pack

    The LendingTree study found that Tesla’s Model Y and Model 3 attracted the most interest from car buyers in the luxury segment. The Model Y secured the top position, accounting for 6.8% of all luxury vehicle loan inquiries. The Model 3 followed closely, representing 5.6% of these inquiries, a notable achievement for a sedan.

    Overall, Tesla emerged as the second most popular luxury brand, behind BMW, although Tesla has a smaller vehicle lineup. BMW captured 16.6% of luxury brand queries in the study, while Tesla garnered 15.8%. This placed Tesla ahead of Mercedes-Benz and Lexus, which recorded 12.0% and 11.1% of luxury brand inquiries, respectively.

    Luxury Vehicle Searches
    The data showing the luxury vehicle searches by carmaker. (Source: Teslarati)

    Affordability Fuels Tesla’s Popularity

    According to LendingTree, the competitive pricing of the Tesla Model Y and Model 3 may be a key factor in their popularity among luxury car buyers. While Tesla is considered a luxury brand, the Model Y, with a starting price of $44,990, and the Model 3 represent attractive options in terms of value. The Model 3, in particular, is praised for its affordability within the electric sedan market, as noted by Kelley Blue Book.

    auto loans electric vehicles LendingTree luxury vehicles Model 3 Model Y Tesla
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