Tesla Lease Price Shock: Model 3 & Y Costs Spike at Quarter Start

Frunk Daily

— 2 min read
Tesla Lease Price Shock: Model 3 & Y Costs Spike at Quarter Start

Tesla Lease Price Shock: Model 3 & Y Costs Spike at Quarter Start

If you have been eyeing a Tesla lease recently, you might be in for a sticker shock. Just about a month ago, the leasing market for EVs was incredibly aggressive, with the Model 3 starting around $300 per month and the premium Model Y sitting at a very attractive $450 per month. However, as we enter a new quarter, those numbers have shifted significantly.

Introduction showing the Tesla Model 3 while discussing previous lease pricing.

The New Model 3 Lease Landscape

The entry point for the Model 3 has moved up considerably. Currently, the Model 3 Standard Rear-Wheel Drive is leasing for $449 per month with $3,000 down. This represents a stark contrast to the deals available just weeks ago.

Here is the full breakdown for the current Model 3 monthly lease tiers:

  • Standard: $449
  • Rear-Wheel Drive Premium: $499
  • All-Wheel Drive Premium: $599
  • Performance: $749
A detailed table displaying the new lease pricing tiers for the Tesla Model 3.

Model Y: Price Hikes and Hidden Value

The Model Y has also seen recent adjustments. Even within the last few days, the price has fluctuated. The Standard Model Y is now $479 per month (with $3,000 down), an increase from $449 just days prior.

Lease pricing breakdown for the Tesla Model Y, specifically focusing on the standard model.
Discussion regarding the recent price increase for the standard model lease compared to a few days prior.

The Smartest Upgrade?

Despite the general price hikes, YouTuber Ryan Shaw highlights a specific value proposition within the current Model Y pricing structure. The Premium Rear-Wheel Drive is priced at $549 per month.

"Premium Rear-Wheel Drive is $549 per month and that is only about a $70 difference from the Standard version to get a ton of upgrades there."

For only a $70 monthly difference over the Standard version ($479 vs $549), you unlock a significant package of upgrades. If you are committed to leasing a Model Y right now, the Premium RWD appears to offer the best bang for your buck.

Analysis of the Premium Rear-Wheel Drive pricing and the value of upgrades for the price difference.

Future Outlook: Should You Wait?

Why the sudden increase? It is currently the very beginning of the quarter, a time when incentives are typically rolled back.

The general consensus is that these prices are unlikely to stay this high. Tesla aims for their standard models to have "really great lease prices," and as Shaw notes, "this isn't that."

Key Takeaway: If you can afford to wait, it may be wise to hold off. Expectations are high that Tesla will lower these rates later in the quarter to make their lease offers competitive again.

Read more