Tesla launches lease option for Model Y in US, still no sign of option coming to Canada

Update: Tesla has now launched lease options in Canada for both the Model Y and the Model 3. You can read more here.

It appears Tesla has learnt many things from the introduction and production ramp of its best selling Model 3.

When the Model 3 was first released in the US in 2018, it took two years before the automaker offered a lease option for the popular electric vehicle (EV).

It also took Tesla just one quarter with Model Y production underway to exceed the total production of the Model 3 during its first two quarters of production.

Now less than 6 months after the first Model Y delivery in the US, Tesla now offers a new lease option for the electric SUV.

Tesla Model Y lease details

Starting at less than $500 per month for the base Long Range (LR) Dual Motor AWD Model Y, leasing will be a popular option among those buyers who like to upgrade their vehicles often and don’t want to have to worry about resale value (even though Tesla’s maintain value better than almost any other car).

If you want a fully loaded Performance Model Y with all the fixings, that bumps the lease price up to $806/month.

Tesla Performance Model Y lease details

The new lease option so far is only available in the US, with no signs of it coming to Canada. The only lease options from Tesla in Canada are the premium Model S and Model X vehicles, with prices above $1,500 per month.


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