Tesla Lease vs. Finance: Best Choice for Model 3 & Y with 0.99% APR?

Tesla Lease vs. Finance: Best Choice for Model 3 & Y with 0.99% APR?

Hey everyone, DennisCW here! I recently spotted a Reddit post that sparked a ton of debate: with Tesla's killer 0.99% APR financing, should you lease or finance your new EV? It's a great question, especially now with lease deals popping up. Let's break it down based on real numbers for the Model 3 and Model Y.

The Reddit Dilemma

A first-time Reddit poster was eyeing an EV but got tripped up by the 9.99% APR confusion (spoiler: Tesla's actual financing is 0.99% right now). Comments flooded in—some saying skip financing altogether due to depreciation, others debating lease vs. buy. I've crunched the numbers, and here's the straight talk.

Model 3: Leasing Looks Like a Steal

Right now, Tesla leases for the Model 3 are super attractive:

• Rear-Wheel Drive (RWD): As low as $399/month
• Premium RWD (newly dropped): $449/month

These beat financing payments hands-down for most folks. Why? Leasing locks in lower monthly costs, perfect if you're upgrading every 3 years.

Model Y: Financing Wins (For Now)

Flip to the Model Y, and it's a different story:

• Premium RWD: $569/month to lease

These payments are higher, often requiring a bigger down payment for approval. At 0.99% APR, financing makes more sense here—especially if you plan to keep it 5-10 years.

| Model | Lease (RWD) | Financing Perk | |-------|-------------|----------------| | Model 3 | $399-$449/mo | Higher payments | | Model Y | $569/mo | 0.99% APR shines |

Leasing vs. Financing: Key Pros & Cons

Leasing Pros:

• Lower monthly payments (Model 3 especially)
• Depreciation protection: Return it after 3 years—no resale hassle
• Buyout option: e.g., Model 3 for ~$30K. If it's worth more, profit! If less, Tesla eats the loss

Leasing Cons:

• Higher interest rates (4-7% typically)
• Fees: Acquisition fee upfront, $350 disposition fee at end (waived if leasing another Tesla?)

Financing Pros:

• Ultra-low 0.99% APR
• Own it outright after payments—no fees
• Ideal for long-term owners

Financing Cons:

• Higher monthly payments
• You bear full depreciation risk

Quick Tip: Drop a non-refundable $250 deposit on Tesla's site, then tweak lease/finance in the app for real personalized numbers. Pro move: Use my Tesla referral code for up to $1,000 off!

My Advice (Not Financial Advice 😉)

• Model 3 buyer? Lease it. Payments are unbeatable.
• Model Y fan? Finance. 0.99% crushes the lease math.
• Short-term driver (3 years)? Lease.
• Long-haul keeper (5+ years)? Finance.

TL;DR: Lease Model 3, finance Model Y.

What do you think? Drop your thoughts in the comments—lease or finance?

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Drive safe, and I'll catch you in the next one! 🚀

DennisCW