Tesla Cuts Model Y Lease To $299 Per Month: Electrifying Deals For The Holidays

Tesla has dramatically reduced the lease price of its Model Y Long Range RWD electric vehicle (EV), bringing the monthly payment down to $299 – matching the lease cost of the smaller Model 3 despite a $2,500 higher purchase price.

The new lease terms include a $2,999 down payment over 36 months with a 10,000-mile annual limit, resulting in an effective monthly cost of $410 – down from $461 previously. The Long Range AWD and Performance variants maintain their starting lease prices at $399 and $599 per month, respectively.

The lease reduction is just one piece of Tesla’s comprehensive end-of-year sales strategy. The automaker needs to deliver more than 515,000 vehicles this quarter – around 30,000 more than its previous record set in Q4 2023 – to achieve its annual growth target.

To boost demand, Tesla has introduced a range of enticing incentives for potential buyers. These include zero-percent financing, making it more affordable for customers to purchase their vehicles without incurring interest on their loans.

Tesla is also offering three months of free Supercharging, providing buyers with complimentary access to its extensive charging network—a major draw for those seeking cost-effective electric vehicle ownership. Additionally, complimentary trials of the Full Self-Driving (FSD) feature allow new customers to experience Tesla’s cutting-edge autonomous technology firsthand.

For existing Tesla owners, the company has rolled out FSD transfer options, enabling them to carry over their advanced driving package to a new Tesla purchase. This move incentivizes loyal customers to upgrade to newer models.

Moreover, Tesla is providing significant inventory discounts, reducing the cost of vehicles already in stock. In European markets, the company has sweetened the deal further with steep price cuts and free Supercharging benefits, making its EVs even more attractive to a broader audience.

Notably, Tesla maintains its policy of not allowing buyouts at the end of Model Y and Model 3 leases, a strategy linked to the company’s future robotaxi network plans.

The timing of these incentives, coming less than two weeks before Black Friday, positions the Model Y as an increasingly attractive option in both the electric vehicle market and the broader SUV segment. Industry analysts suggest the Model Y now ranks among the best EVs to lease, with the potential for additional year-end incentives still to come.

Read More: Tesla’s Big Year-End Push: Three Months Of Free Supercharging And FSD Subscription

Tesla’s aggressive pricing, compelling incentives, and strategic timing aim to solidify the Model Y’s position in the EV market while meeting ambitious Q4 delivery targets. With the holiday season approaching, Tesla’s next moves could further shake up the competition and reinforce its dominance in the EV sector.

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