How much is it to lease a Tesla?
Curious about driving a Tesla but unsure about the costs of leasing one?
The Tesla Model Y, a cutting-edge electric SUV, tantalizes potential drivers with its luxurious features and environmentally friendly design.
Let’s delve into the details of leasing a Tesla to discover if it’s the right fit for you.
how much is it to lease a tesla
The cost of leasing a Tesla varies depending on the model chosen.
The base model Tesla can be leased for $379 per month with a $3,500 down payment and an estimated APR of 6.49% for 72 months.
The Long Range model costs $430 per month, while the Performance model costs $510 per month.
It’s important to consider these pricing details when deciding to lease a Tesla.
Key Points:
- Cost of leasing a Tesla varies based on the model chosen
- Base model Tesla lease: $379/month, $3,500 down payment, 6.49% APR for 72 months
- Long Range model lease: $430/month
- Performance model lease: $510/month
- Pricing details are crucial in decision-making for Tesla lease
- Total cost of lease depends on model chosen, down payment, and APR
Check this out:
💡 Did You Know?
1. The first Tesla Model S ever produced was actually given to Tesla CEO Elon Musk for free as he played a key role in the development of the car.
2. The monthly leasing cost for a Tesla can vary greatly depending on the model, but on average, it can range from $500 to $1,500 per month.
3. One unique feature of leasing a Tesla is that it includes free Supercharger access, allowing drivers to charge their car at Tesla’s Supercharger stations without incurring extra costs.
4. The resale value of leased Teslas tends to be higher than other luxury vehicles, making them a popular choice for those looking to lease a high-end electric car.
5. Tesla offers a “Lease-End” vehicle inspection service where their team comes to inspect the car at the end of the lease to determine if there are any excessive wear-and-tear charges.
Tesla Lease Pricing
- When considering leasing a Tesla, it’s important to understand the pricing structure.
- The base model Tesla can be leased for $379 per month with a $3,500 down payment and an estimated APR of 6.49% for 72 months.
- The Long Range model costs $430 per month, while the Performance model is $510 per month.
- These prices offer a range of options for potential lessees to choose from, depending on their budget and desired features.
Model Options And Costs
- Tesla offers a range of models to choose from, each with its own unique features and costs.
- The Model Y, introduced in 2020, stands out as Tesla’s newest addition, boasting the best range of any electric SUV after the Model X.
- With seating for five and an optional third row for two additional seats, the Model Y provides versatility for families and individuals alike.
- All Model Y trims come with all-wheel drive and a 75-kWh battery pack, ensuring a powerful and efficient driving experience.
Model Y Features
- *The Model Y stands out for its impressive range, seating options, and advanced features catering to modern drivers.
- *With advanced autopilot capabilities and a sleek, futuristic design, the Model Y seamlessly combines style and functionality.
- *Featuring a spacious interior, large touchscreen display, and cutting-edge technology, the Model Y is a top choice for those seeking a Tesla that excels in both performance and luxury.
Lease Application Process
To lease a Tesla, applicants can start the process by submitting an application through the Tesla website or in person at a Tesla showroom. The application will be reviewed by Tesla’s financing team, allowing for resubmission if additional information is required. Upon approval, the financing offer can be accepted via the Tesla Account portal. A Tesla Advisor will then contact the applicant to coordinate the delivery of the vehicle.
- Submit lease application through Tesla website or showroom
- Review and resubmission option available
- Accept financing offer via Tesla Account portal
- Coordinate vehicle delivery with Tesla Advisor.
Application Review And Resubmission
During the application review process, Tesla’s financing team evaluates credit history, income, and other financial considerations to determine eligibility for leasing a Tesla. Should any information be missing or require clarification, applicants can resubmit documentation or provide additional details for their application.
- The financing team assesses factors such as credit history and income
- Applicants can resubmit documentation or provide additional details if needed
Financing Offer Acceptance
- Upon approval of the lease application, applicants can accept the financing offer through their Tesla Account.
- This step finalizes the leasing agreement and sets in motion the process of securing the chosen Tesla model for delivery.
- The financing terms, including monthly payments, down payment, and lease duration, will be clearly outlined in the offer for the lessee’s review and acceptance.
Delivery Arrangements
Once the financing offer is accepted, a Tesla Advisor will be in touch with the applicant to coordinate the delivery of the leased Tesla. This includes:
- Scheduling a convenient time for the lessee to receive the vehicle
- Ensuring that all necessary paperwork and documentation are in order for a smooth and hassle-free handover process
- Addressing any questions or concerns the lessee may have regarding the delivery arrangements
The Tesla Advisor will ensure a seamless transition for the lessee into their new Tesla.
Denial And Next Steps
In the event that a lease application is denied, the applicant will be promptly contacted by Tesla within one business day to discuss the reasons for denial and explore potential next steps. This feedback allows applicants to understand the decision-making process and potentially make improvements for future leasing attempts. Tesla’s commitment to transparent communication ensures that all applicants receive the necessary information and support, whether their application is approved or denied.
Summary:
- Denied lease applications prompt contact within one business day.
- Feedback provided for understanding and improvement.
- Transparent communication from Tesla for all applicants.
FAQ
How much does it really cost to lease a Tesla?
Leasing a Tesla Model 3 in 2024 can vary in cost, with prices starting at $329 per month with a $4,500 down payment. However, the actual amount you will pay depends on factors such as the trim level and mileage of the vehicle. Opting for the base trim level Model 3 is likely the most affordable choice for those seeking lower lease payments in 2024.
Does the $7500 tax credit work on a lease Tesla?
Yes, the $7500 tax credit can be applied to leased Tesla vehicles. This credit is available for most pure-electric and plug-in hybrid vehicles, including those that are leased, as leased vehicles are considered commercially owned vehicles. Therefore, individuals leasing a Tesla can take advantage of this tax credit, making it a more appealing option for those looking to reduce the overall cost of leasing an electric vehicle.
By utilizing the tax credit on a leased Tesla, individuals can benefit from significant cost savings over the lease period. This can make leasing a Tesla an even more attractive option, particularly for those who may not have the means to purchase an electric vehicle outright. Additionally, the availability of the tax credit on leased Teslas helps to incentivize more consumers to opt for electric vehicles, promoting sustainability and reducing emissions in the transportation sector.
What credit score is needed to lease a Tesla?
To lease a Tesla, potential lessees must meet the requirements set by Tesla for a loan approval. While Tesla does not specify a minimum credit score needed to apply for an auto loan, individuals with higher credit scores, typically 720 or above, are more likely to secure competitive financing terms. This means that having a solid credit score significantly increases the chances of being approved for a Tesla lease with favorable APR rates.
Can I negotiate Tesla lease?
Yes, negotiating a lease deal for a new Tesla is definitely possible with a bit of effort. Take the initiative to reach out to the leasing department of various local dealerships through calls, texts, or emails to discuss pricing for the specific Tesla model you have in mind. Inquire about details such as the initial payment, any available incentives or specials, and even potential finance deals that may be on offer. Through this proactive approach, you may find opportunities to tailor a lease agreement that suits your preferences and budget while driving off in the Tesla of your dreams.
