Tesla announces Model 3 and Model Y lease price increase by up to $100/month

Tesla will be increasing the Model 3 and Model Y lease payments starting November 4, just as it cautioned before.

It seems that the temporary monthly payment relief has been scheduled to boost sales after the federal tax credit expiration went into force, with the last deliveries been drawn out until mid-October.

Thus, leases on the Model Y Premium RWD will start from $529/month on November 4, instead of the current $449 payment. The Model 3 price increase is even more drastic, going up by $100 a month, from $329 to $429 for a 3-year lease with $3,000 down payment.

The difference between leasing a Model Y or a Model 3 will then become only a Benjamin, and Tesla fans will have to make some tough choices which one to get.

Thankfully, Tesla is keeping the $6,500 lease credit that got introduced right after the federal one expired, but the rise in monthly lease payments seems designed to compensate for the losses from the own credit program somewhat.

Tesla's financials for this past quarter weren't a rosy picture, despite the record number of vehicles moved. The revenue boost that Tesla got from the rush to beat the federal $7,500 tax credit expiration deadline was offset by rising expenditures, and Tesla will now try to preserve whatever margin it can in a fourth quarter that may be marked by a drastic sales slump.

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