Tesla just raised the Model Y monthly payments, pushing the rear-wheel-drive version from $459 to $499 and the all-wheel-drive from $499 to $549. That $50 jump on the AWD model alone adds roughly $1,800 over a typical lease term.
The changes follow a similar Model 3 adjustment and come as Tesla inventory sold out California after the state incentive cleared remaining stock. With fewer cars sitting on lots, Tesla is tightening incentives and lifting rates instead.
Why payments keep climbing
Financing rates have already moved from 0% to 0.99%. Combined with the new lease figures, buyers now face higher Tesla Model Y financing rates and Model Y monthly payments up across the board. The premium rear-wheel-drive version sits at $599, widening the gap to the base models and steering more customers toward higher trims.
What this means for buyers
Anyone shopping right now will feel the Model Y lease payment increase immediately. Those who locked in earlier deals saved thousands compared with today’s numbers. If you still want to order, using a referral protects you from future hikes by adding three months of free Full Self-Driving.
Check current inventory by switching to “all deliverable” in the configurator—some cars may require a short drive but can still carry modest discounts before they disappear.
Looking ahead
September is the final month of the quarter, so further softening of deals feels likely. Waiting until December could bring better terms once production ramps again, but anyone needing a vehicle sooner should move quickly.
For the latest on how these changes compare with the Model 3 side of the lineup, see the related breakdown here.
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