 |
| The 2026 Tesla Model Y |
The final months of the year are always a sprint for automakers, but Tesla is in an all-out dash to salvage its fourth-quarter delivery numbers. Facing softer demand in key markets like China and Europe, and an unexpected hurdle in the US with the premature end of the federal EV tax credit in September, the electric vehicle giant is deploying every tool in its sales arsenal.
For weeks, the company has been pulling out all the stops. Buyers have been enticed with blockbuster offers, including zero percent APR financing on the popular Model Y and Model 3, deep discounts on inventory vehicles, and free upgrades on premium options. Recognizing that a significant portion of both individual and fleet customers choose to lease, Tesla also slashed its lease prices at the start of the quarter, making monthly payments more attractive than ever.
The Carrot, Then the Stick
After dangling the zero-interest carrot, Tesla is now wielding the stick of a looming deadline to create urgency. In a move that signals a sharp strategic pivot, the company has announced it will drastically increase lease payments on nearly its entire lineup—with some monthly costs soaring by as much as 67%.
This isn't a minor adjustment; it's a seismic shift in affordability for potential lessees. The message is clear: act before the New Year, or pay a steep premium.
Breaking Down the Coming Tesla Lease Price Shock
The new lease pricing, set to take effect for deliveries after December 31, 2024, reveals the staggering increases. Here’s the full breakdown of what’s coming:
- Model 3 RWD: Jumping to $499/month, a massive 67% increase.
- Model Y Long Range AWD: Rising to $649/month, a 35% increase.
- Model Y RWD: Increasing to $549/month, a 22% increase.
- Model 3 Long Range AWD: Up to $549/month, a 22% increase.
- Cybertruck AWD: Climbing to $849/month, a 16% increase.
- Model 3 Performance: Rising to $749/month, a 7% increase.
The sting is made even sharper by changes to the down payment structure. While most trims currently offer reduced payments with $0 down, the new terms will require a $3,000 down payment, significantly raising the initial cost to get into a leased vehicle.
A Strategic Reset for 2025
This aggressive push-and-pull strategy highlights the pressure Tesla faces to meet annual delivery goals and clear existing inventory. The sweetheart deals of Q4 2024 are explicitly designed to boost numbers before the books close.
For those considering a Tesla, the calculus has never been more time-sensitive. The window to lock in current lease rates or take advantage of 0% financing is slamming shut. The new prices become a reality for orders placed after December 26, marking a hard reset as Tesla enters 2025.
Interested in configuring your Model Y before the lease hike? You can explore all the options and designs directly on Tesla's official configurator.
The company will enter the new year with a dramatically different cost structure for its most popular vehicles, potentially adjusting its approach to incentives and profitability in the quarters to come. For now, the EV bargain of the year is on the table, but the clock is ticking down fast.
Disclosure: Some links in this article are affiliate links. We may earn a small commission if you make a purchase, at no additional cost to you.
Ready to charge your new Tesla? A reliable home charger is essential.
Find the Tesla Universal Wall Connector with a 24-foot cable on Amazon here.