Tesla Model 3 is now available for lease at just $399 per month. Though there are many other cars available for less than $399 per month, the cost of Tesla leasing is decreasing. Also, the other vehicles have lesser rangers, and other features as well.
According to InsideEVs, the leases aren’t as appealing as they once were. Financing rates are high and cares are just more expensive than ever. Tesla recently lowered prices across its whole lineup, so we were excited to learn whether lease prices would come down. Now, you can lease the base Model 3 starting at $399 per month. The deal applies to the single-motor Model 3 RWD that starts at $43,990, excluding any incentives or tax credits. The full lease as specified on Tesla’s official website is $399 per month for 36 months with $4,500 due at signing. It includes the $1,390 destination fee, but not taxes and other fees. The lease is good for 10,000 miles per year and only valid in 42 US states. For comparison, the same lease could be had for $499 per month for 36 months with $4,500 due at signing prior to the recent discount.
All in, including the $4,500 down payment, $399 first month’s payment, $695 acquisition fee, and 35 consecutive monthly payments of $399, you’re looking at an effective monthly payment of $543. Keep in mind, this deal only covers a Model 3 with white paint, 18-inch Aero wheels, and a black synthetic leather interior. The Model 3 RWD offers 272 miles of EPA-estimated range and scoots from zero to 60 mph in 5.8 seconds. Tesla says you can take delivery soon.
The other vehicles include BMW i4 lease for $719 per month for 36 months with $5,269 due at signing. Then there is the 2022 Chevrolet Bolt EV lease for $269 per month for 36 months with $6,459 due at signing. 2023 Hyundai Kona Electric lease for $279 per month for 36 months with $3,999 due at signing. Also, the 2023 Kia Niro EV lease is for $499 per month for 36 months with $3,999 due at signing. For a $419 per month lease, the 2023 Nissan Leaf is available for 36 months with $5,000 due at signing. Polestar 2 is available for lease for $529 per month for 36 months with $5,000 due at signing.
Here the only non-luxury Bolt EV and Kona Electric have lower monthly payments than the Model 3, though the Chevy has a high down payment. The luxury i4 and Polestar 2 will cost more than the Model 3, as will the Niro EV. While the Leaf has a lower effective monthly payment, it’s not much lower than the Model 3’s, and people will get so much more choosing the Tesla over the Nissan.