- Tesla lowered the lease price of the most affordable Model Y version.
- As a result, the Model Y Long Range RWD costs the same to lease as the Model 3 Long Range RWD.
- When purchased with cash, the base Model Y is $2,500 more expensive than the Model 3.
Tesla seems to have an end-of-year boost, at least when it comes to the bestseller, the Model Y intersection.
After offering all kinds of offersincluding three months of free access to Superchargers and the so-called Full Self-Driving (Supervised) feature, the American AI and robotics company is making a more meaningful move where it matters most: customers’ wallets.
Last night, Tesla lowered the monthly lease price for the base Rear-Wheel Drive Crossover Model Y by $50, putting it on par with the Model 3 RWD sedan. That’s despite the fact that the entry-level Model Y is $2,500 more expensive to buy than the most affordable Model 3.
Without any incentives, the Tesla Model 3 Long Range Rear-Wheel Drive starts at $44,990, while the Model 3 Long Range Rear-Wheel Drive retails for $42,490 excluding destination.
The new lease is for a 36-month contract with a $2,999 down payment and 10,000 annual miles. It also means that Tesla is essentially subsidizing $1,800 for three years for people who want to buy a new Model Y instead of a Model 3 – $50 per month for 36 months.
Tesla Model Y lease prices on November 19, 2024.
It’s worth noting that Tesla doesn’t offer a buyout option at the end of their lease agreements, so it might make more sense to buy a Model Y for the same money instead of a Model 3. It’s slightly larger than its sedan counterpart and has a hatchback . At the same time, however, it is starting to take a bit of time, while the model was updated this year and has a fresher appearance. The Model Y’s 337-mile range is also lower than the Model 3’s 363 miles, and the crossover’s 0 to 60 mph time is 1.6 seconds behind the sedan.
Currently, there is only one version of the Model 3 that is more expensive to lease than its Model Y counterpart. The Model 3 Long Range All-Wheel Drive costs $349/month to lease, while the Model Y Long Range AWD costs $399/month. The Performance AWD versions of both models cost the same to lease: $599/month.