Tesla drops Model Y lease payment before a price hike in November

Tesla has dropped the Model Y lease price by 15% and the Model 3 monthly lease payment by 23% to effectively lower the acquisition price of the vehicles in an end-of-month sales push before the introduction of their cheapest Standard trims.

The Model Y lease now starts from $449/month, down from $529, while the Model 3 lease gets a $100 price cut and now starts from just $329. Considering that most Tesla owners in the US lease their cars, the new monthly payment deal seems designed to address an eventual drop in demand that may have followed the federal tax credit expiration at the beginning of the month.

The Cybertruck lease payments have also been affected but with a more modest 7% drop, from $749 to $699 a month. Tesla warns that the Model 3 and Model Y lease prices will rise on November 1, though it doesn't specify if they will go back up to their previous levels, or it intends to introduce a further increase.

It recently announced cheaper Model Y Standard and Model 3 Standard trims that are devoid of more than 20 options or design features that their more expensive Premium siblings have. The cheapest Model Y Standard trim, however, is only scheduled for a November delivery, which might explain why is Tesla starting a lease deal on the higher trims until the end of October.

When the cheapest Standard version deliveries start, fans will have an option to get a sub-$40,000 Model Y whose lease price will likely match the discounted payments that Tesla is offering now for the Premium models, and their leases will go back up where they were.

These are the prices with the $6,500 lease discount that Tesla designed to match the federal subsidy after it expired, too. The Model Y payments now start from $449/month for a 3-year lease with $3,000 down for 10,000 miles covered per year, and already include the aforementioned Tesla lease credit. 

There are fees for early lease contract termination, for mileage overages, and for excessive wear or late payments, too. Still, leasing a Model 3 from just $329 a month until October 31 is a good deal, no matter how one slices it.

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