By B. O’Hare
Tesla is launching leases for their in-demand Model Y crossover, starting at $499 a month. Leasing is a popular choice, particularly with more premium cars that tend to depreciate rapidly. This move will no doubt make the Model Y even more desirable for many consumers.
As said above, the cheapest lease deal you can get is $499 a month for a base-spec Long Range Y, which has a $49,990 MSRP. That deal requires $4,500 down, is 36 months long and has a maximum annual driving allowance of 10,000 miles.
Unfortunately it’s unlikely you’ll be able to get a cheaper deal than that – with Tesla recently cutting the Model Y’s price by $3k they’re unlikely to do so again anytime soon. Also, a few weeks back the firm announced the $39k Standard Range Model Y will not be going ahead as CEO Elon Musk felt its range wouldn’t be competitive enough.
Would you consider leasing a Model Y? Do you lease your own cars in general? Let us know your thoughts in the replies section below!