Tesla Raises Lease Costs of Model Y Long Range in United States
Tesla Announces Changes to Model Y Lease Prices and Delivery Estimates
In a recent development, Tesla has increased the starting lease price for the Model Y Long Range Rear-Wheel Drive from $349 to $399 per month. This change applies only to the Model Y Long Range Rear-Wheel Drive for now, according to Raj Jegannathan, AI and IT Infrastructure Engineer at Tesla.
In addition to the lease price adjustment, Tesla has extended delivery estimates for custom orders in many locations. These extended estimates now range from one to two weeks longer. The company's online configurator will be updated to reflect these changes.
Prospective buyers may want to order sooner rather than later to take delivery before the end of Q3, given the extended delivery timelines. It's important to note that there won't be any additional end-of-quarter discounts beyond what is already being offered in the U.S. This marks a departure from Tesla's traditional practice of using end-of-quarter discounts to encourage last-minute orders.
For those considering a Tesla lease, the current lease price for the Model Y Long Range All-Wheel Drive (AWD) in the U.S. is $449 per month for a 36-month lease, following a recent increase from $399 per month. The lease typically requires a down payment, often $3,000, and includes a 10,000-mile annual limit.
Compared to other lease options for the Model Y AWD, which may not require a down payment but can raise the monthly cost to about $582, the current lease price offers a more affordable option. Tesla also offers various incentives, including a $7,500 tax credit for eligible customers, and specific discounts for military personnel, first responders, teachers, or students.
Lastly, it's worth mentioning that Tesla began allowing customers to buy out any lease, including for the Cybertruck, at the end of their term last year. With the federal EV tax credit for Tesla vehicles expiring on September 30, 2025, locking in a Tesla order now may be the safest bet to avoid the Q3 delivery crunch and take advantage of the current incentives.
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