American electric automaker Tesla has just cut the lease prices of its popular offerings, the electric sedan Model 3 and electric crossover Model Y, with a 36-month term.
Through this program, interested buyers can finally acquire a Tesla for a lower cost than full payment.
Interestingly, the lease prices dropped by as much as $100 monthly on some variants.
Tesla Model 3 lease prices
Below are the current lease prices of the Tesla Model 3 variants:
| Tesla Model 3 | Lease Price | Changes |
| Model 3 Rear Wheel Drive | $329/month | down from $419 |
| Model 3 Long Range | $439/month | down from $509 |
| Model 3 Performance | $529/month | down from $609 |
Tesla Model Y lease prices
Tesla also reduced the lease prices for the world’s best-selling vehicle, Model Y. Refer to the table below:
| Tesla Model Y | Lease Price | Changes |
| Model Y Rear Wheel Drive | $399/month | down from $499 |
| Model Y Long Range | $469/month | down from $549 |
| Model Y Performance | $539/month | down from $629 |
As mentioned, these new lease prices for the Tesla Model 3 and Model Y variants are under a 36-month term with 10,000 miles every year. These updated prices also exclude potential gas and maintenance savings.
InsideEVs reported that Tesla also charges customers a $695 acquisition fee and a $395 disposition fee, which are included in the estimated lease price. Customers must also pay a down payment of $4,500.
Tesla Model 3 $7,500 tax credit may drop to $3,750
Tesla also updated the Model 3’s page, indicating that the electric sedan may no longer qualify for the full tax credit of up to $7,500.
It apparently anticipates the Model 3 to only gain access to $3,750 starting December 31, “pending federal guidance.”
This announcement may urge customers to purchase the Tesla EV before the year ends to benefit from the full tax credit.
See Also:
- Tesla launches Chinese-made Model Y in the South Korean market for about $45,000
- Tesla Model Y continues to lead the European auto market from Jan to Aug 2023
- Ford Mustang Mach-E’s US sales recover in August, trails behind Tesla Model Y
- EV dominates 60% share of the automotive market in Sweden in August, Tesla Model Y leads
- Tesla Model Y dominates the used EV market in the US, study reveals
Considering these significant lease price cuts, it would be unsurprising if Tesla would report record sales and deliveries in the fourth quarter. Tesla has also reduced the costs of the Tesla Model 3 and Y in early October. Notably, Tesla aims to sell 1.8 million EVs this year.
