Tesla has lowered lease prices for the Model 3, Model Y, and Cybertruck in the United States, cutting monthly payments by as much as 23%. However, the update has created some confusion among shoppers after the company added a message to its website warning that prices will go up in November — without clearly specifying that it refers to lease prices rather than vehicle purchase prices.
Here is a breakdown of new lease pricing in the U.S.
New U.S. Lease Pricing
| Model | New Monthly Payment | Previous | Change |
|---|---|---|---|
| Model 3 | $329/month | $429/month | ↓ 23% |
| Model Y | $449/month | $529/month | ↓ 15% |
| Cybertruck | $699/month | $749/month | ↓ 7% |
The lower lease rates appeared on Tesla’s website on Monday evening, along with an ambiguous notice about “prices increase in November,” as seen in the featured image above. Since Tesla has used similar phrasing in the past when announcing price increases and decreases, many (including ourselves), initially interpreted the message as a warning of higher vehicle prices next month.
However, the reductions apply only to leasing programs, and vehicle purchase prices will remain unchanged in U.S. come next month.
On Tesla’s Current Offers page the messaging is a little clearer, where it states clearly that lease pricing will increase in November.
While these are not the lowest lease payments we have seen in the U.S, the new offers bring Tesla’s vehicles closer to the mainstream market in terms of affordability. A Model 3 lease starting at $329 per month makes it competitive with many gasoline sedans, while the Model Y at $449 per month aligns with the cost of leasing popular crossovers like the Hyundai Ioniq 5 or Ford Mustang Mach-E. The Cybertruck, now available to lease from $699 per month with a $5,000 down payment, is also seeing its lowest advertised rate to date.
Unfortunately, none of these changes apply to Canada, where lease pricing is still very expensive, starting at $999 per month for the Model Y, and even higher for the Model 3 at $1,329 per month.
