Tesla cars are solid options in the EV world. They boast a small carbon footprint, incorporate advanced technology, deliver impressive performance, and are status symbols. However, you might not want or afford to spend a huge amount to buy a car. If you still want one, leasing could be a good alternative. So, how much to lease a Tesla? Let’s find it out.
Factors Affecting Lease Pricing
When it comes to leasing a car there are a few factors which can drastically affect the price that you will pay to lease it. The most obvious factor is the make and model of the vehicle as well as the specification of the car. However, the duration of the lease can affect the total overall cost that you will pay as well as the cost of the monthly repayments. Furthermore, the amount of mileage that you expect to do can also affect the cost of leasing a Tesla and it’s important to choose a mileage allowance which is suitable for you.
How Much Is It to Lease Each Model of Tesla Today?
Leasing a Tesla can be an affordable affair, depending on the model you want to drive. Tesla Model 3 Rear-Wheel Drive is the cheapest option, with a monthly payment as low as $334 per month. Model X Plaid is the most expensive Tesla model you can lease today. Leasing it can set you back at least $1,556 per month. Regardless of the Tesla model you want to lease, you must consider the down payment. Amounts go from $5,529 to $9,751 and are payable upfront.
|Tesla Model||Monthly Payment||Due at Signing|
|Model 3 RWD||$334||$5,529|
|Model 3 Long Range AWD||$540||$5,735|
|Model 3 Performance AWD||$629||$5,824|
|Model Y Long Range AWD||$610||$5,805|
|Model Y Performance AWD||$690||$5,885|
|Model S AWD||$1,207||$9,402|
|Model S Plaid||$1,507||$9,702|
|Model X AWD||$1,357||$9,552|
|Model X Plaid||$1,556||$9,751|
Tesla Model 3 Lease Cost
Of all the Tesla models that you can buy today, Tesla Model 3 is the most affordable to buy or lease. Below are some crucial differences between the various Model 3 types.
If you are budget-conscious, you want to go with the Model 3 Rear-Wheel Drive, which costs $334 per month for the factory version. Leasing directly from Tesla gives you the opportunity to customize the car, including paint color and interior. Fully customized, the price goes up to $559 per month, exclusive of taxes and other fees, on a 36-month leasing contract. The good news is that Model 3 qualifies for a tax credit that can go up to $7,500.
Long Range All-Wheel Drive
If you don’t want to spend a lot but would like something more than the basic version of Model 3, consider the Long Range AWD. A monthly lease costs $540. Tesla doesn’t allow car customization for this model if leasing it. However, you’ll still have to pay a down payment and delivery fees for a total of $5,735 due at signing.
The down payment and the monthly rate are substantial if you opt for a shorter term. A 24-month lease – instead of 36 months – brings the down payment to $5,752 and the monthly rate to $557.
Performance All-Wheel Drive
One of the most expensive types of Model 3, the Performance AWD has a monthly rate of $629 and a down payment of $5,824. These prices refer to a 36-month lease of the factory version of the car. You can order a custom one. Fully customized, the monthly rate of this model goes up to $906. However, the downpayment remains $4,500 and includes a $1,390 destination fee.
Tesla Model Y Lease Cost
Larger and longer than the Model 3, Tesla Model Y is a worthy upgrade. Price differences are minimal compared to Model 3, but you’ll get more in terms of design and technology.
Long Range All-Wheel Drive
The cheapest version of Model Y is the Long Range AWD. Without customizations, its monthly lease cost is $610 per month on a 36-month term. A shorter term of 24 months comes with a slightly increased rate, which goes up to $365 per month.
The SUV, fully customized, costs $968 per month. The main difference between Long Range and the basic version is the addition of a third row of seats, making the car perfect for seven people.
Performance All-Wheel Drive
Model Y Performance brings improvements to the Long Range model. So, leasing or buying it isn’t cheap. However, the difference is minimal. The factory version of Model Y Performance costs $690 per month. A down payment at signing, which includes the various fees, sets you back $5,885.
Customized version are typically expensive. With red paintwork (the most expensive variant) and all add-ons, the cost goes up to $975 per month. While a $285 difference could make or break the deal, the difference is really negligible compared to the fully customized Model Y Long Range AWD.
Tesla Model S Lease Cost
Model S marks the transition between Tesla’s compact and high-performance electric vehicles. This change is easily visible in the EV’s cost. A basic Model S costs about twice as much as a Model 3. Leasing is even more expensive, with the cheapest Model S costing $1,207 per month.
The most inexpensive Tesla Model S is the All-Wheel Drive. Leasing on a 36-month term costs $1,206 per month, with $9,402 due at signing. Committing to a shorter contract adds $270 to the monthly payment and about the same amount to the down payment.
If you wish to design your model, you can expect to pay up to $1,619 per month on a 36-month term. While more expensive than the factory version, the full-optional allows you to change the driving wheel to a steering controller and enhance the car’s appeal with a cream and walnut interior and ultra-red paintwork.
From a visual standpoint, a few differences exist between Model S AWD and Model S Plaid. Yet, the Plaid brings a true performance improvement with impressive top speeds (up to 200mph) and stunning acceleration capabilities (zero to 60mph in 1.99 seconds). It is quite obvious you’ll have to pay for all these features.
If you don’t care much about customization, leasing the factory version of Model S Plaid will cost you $1,507 per month and $9,702 in down payment. However, if you want all the bells and whistles, the price can go up to $1,915 per month. That’s a huge difference compared to the standard variant, but you’ll get to drive your dream Tesla for at least 36 months.
Tesla Model X Lease Cost
The electric midsize SUV Model X is one of Tesla’s most expensive cars and the most expensive that you can lease from Tesla. It is only available in selected states, but you might be able to lease it, regardless of your location, from local dealers.
Tesla Model X AWD is the cheapest version of the SUV. Leasing costs start at $1,357, with a down payment of $9,552. As with the other models, these prices apply to a 36-month term and for the standard version of the car. A Model X AWD customized to your liking, including seven seats, autopilot, and a wall connector, will cost you $1,839 per month. Prices go up for shorter, 24-month contracts.
Currently, Tesla Model X Plaid is the most expensive Tesla car to lease. This enhanced SUV features faster acceleration and three high-performance motors. Leasing the standard version for 36 months costs $1,556 per month, roughly $200 more than the AWD. Considering both SUVs have similar top speeds, the price difference could be a deciding factor for many.
If you don’t really care about the price tag but want a Model X Plaid fully customized, the monthly payment can go as high as $1,992 per month. The down payment for the Plaid version starts at $9,751 and varies based on the term length and customizations.
How Much to Lease a Tesla: Key Takeaways
So, how much to lease a Tesla? Leasing a Tesla can be an affordable affair if you don’t mind settling for a compact SUV or sedan. The Model 3 Rear-Wheel Drive is the cheapest, with monthly payments as low as $334 per month. A shorter contract drives the price up, but this vehicle is still more affordable than Model X.
Model X sits at the opposite end and is the most expensive Tesla to lease or purchase. Things will likely change in the near future when the 2023 Tesla Roadster, the Cybertruck, and the Semi come out. Meanwhile, you can have your pick from the brand’s selection of crossovers and sedans.
The image featured at the top of this post is ©BoJack/Shutterstock.com.