Tesla Just Made Model Y Leases Worse: Payments Up $20 Across the Board – Here's Why
Tesla has taken a step in the wrong direction for potential Model Y lessees. Monthly lease payments have increased by $20 on key trims, making it a tougher pill to swallow if you're eyeing this popular EV. Let's break down the changes, speculate on the reasons, and discuss what this means for buyers.
The Payment Hikes: By the Numbers
- Premium Rear-Wheel Drive (RWD): Jumped from $549/month to $569/month.
- Premium All-Wheel Drive (AWD): Rose from $649/month to $669/month.
Good news? The Performance trim and base Model Y remain unchanged at around $459/month and $499/month (depending on config). But rewind just a few months, and premium trims were as low as $450/month with zero down. Not the best time to lease – payments are trending upward.
Why Is Tesla Doing This?
A few theories:
- Clearing Room for Incentives: Tesla might reintroduce perks like free supercharging. To fund that, they could be tweaking lease structures without hiking MSRP.
- Interest Rates and Residuals: No Fed rate cuts mean higher financing costs. Banks' residual values or lease math might force these adjustments.
- Shifting Focus: With 0% APR on base Model Y and 2.99% on others, but option credits gone, they're prioritizing purchases over leases.
Whatever the reason, it's heading in the wrong direction for affordability.
Other Notable Changes
- Full Self-Driving (FSD): Purchase outright is disappearing for used Teslas from Tesla – subscription only now.
- Limited-Time Deal: Grab FSD for $8,000 with less than 10 days left on new purchases.
- Used EV Market: Prices are rising! If selling your Tesla, check out Plug (link in bio) – they're offering $3-5K more than competitors.
Advice for Tesla Shoppers
- Lease? Wait it out. Payments aren't enticing.
- Buy? Use my Tesla referral code (below) for up to $1,000 off your order.
- Financing Perks: 0% on base Model Y, 2.99% elsewhere – but no free options anymore.
What do you think? Are you pulling the trigger on a Model Y, or holding off? Drop your thoughts in the comments!
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