Tesla has announced it will raise lease rates in the United States later this month, giving prospective buyers a limited window to lock in current terms. Starting September 21, monthly lease costs will increase by US$50 for the Model 3 and US$80 for the Model Y, marking the first price adjustment for these programs in months.
Customers must order and apply for leasing before the deadline to secure the lower payments. Here are the current lease costs for Model 3 and Model Y.
Model 3
•Long Range Rear-Wheel Drive – US$299/month
•Long Range All-Wheel Drive – US$499/month
•Performance All-Wheel Drive – US$699/month
Model Y
•Long Range Rear-Wheel Drive – US$399/month
•Long Range All-Wheel Drive – US$449/month
Deadline Driven by EV Tax Credit Expiration
The move comes just days before the expiration of the $7,500 federal electric vehicle (EV) tax credit on September 30. The incentive, originally introduced under the Biden administration to run through 2032, is being phased out under President Trump’s “One Big Beautiful Bill Act.”
Tesla has stressed that customers not only need to place an order, but also take delivery before the end of the month to qualify. Both cash purchases, financed sales, and leases for the Model 3 and Model Y remain eligible if delivered on time.
Leasing, Incentives, and Promotions
Leasing has become an increasingly popular option for U.S. consumers to take advantage of the full $7,500 credit, as it is applied at the point of sale to reduce monthly payments. Tesla’s leasing program is viewed as a competitive entry point for drivers who may be hesitant about purchasing outright in a shifting incentive environment.
To further boost demand before the cutoff, Tesla has introduced temporary perks such as:
- $1,000 discounts for military members, first responders, teachers, and students.
- A one-month trial of its Full Self-Driving (Supervised) software.
- The option to transfer FSD from an existing vehicle.
These incentives, combined with the looming tax credit deadline, are expected to create a surge of end-of-quarter deliveries.
It Is Not Just Tesla
While Tesla prepares for the impact of the subsidy phase-out, rival automakers are adopting their own strategies. Lucid, for example, is offering a $7,500 lease credit on its upcoming Gravity SUV, highlighting a broader industry shift toward lease-based incentives.
Related Stories:
• Tesla May Hike Model Y Prices in the U.S. as Tax Credit Deadline Drives Surge in Demand
• Tesla Model Y Inventory in the U.S. Shrinks as Tax Credit Nears Expiration
• Tesla Cybertruck now eligible for $7,500 tax credit in the U.S.
