Just a few months after bringing the Model Y to Europe, Tesla is now offering leasing options for the electric SUV.
Leasing is a very popular option in Europe, so it should help raise demand for the Model Y even higher than it already is.
According to the Design Studio in Germany, the default lease terms on a Model Y Long Range (LR) over 48 months with €6,500 deposit and an annual limit of 10,000km equate to a monthly rate is €555 ($797 CAD/$635 USD).
Configurable options include 36 or 48 month terms, and annual allowances of 15,000km, 20,000km, and 25,000km. Opting for the more generous 25,000km per year increases the payment to €612 per month ($879CAD/$700 USD). (h/t: @tesla_adri)
As with leases in North America, there is no buyout option and the car must be returned to Tesla at the end of the term.
We have so far seen reports of Model Y leasing available in Germany and Switzerland.
There is also a requirement for lessees to take out full comprehensive insurance.
The launch of Model Y leasing in Europe is similar to what took place in North America. The first U.S. deliveries began in March 2020, and Tesla first offered leasing options four months later in July.
Leasing for the Model Y in Canada didn’t arrive until August 2020.