Tesla Model Y Lease Option Debuts in the United States

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Tesla model y lease

Earlier today, Tesla quietly launched a new lease option for its Model Y compact SUV in the United States, as spotted by a user on Reddit.

If you go to the Model Y configurator on Tesla.com, if you click on ‘Estimate Payment’ along the bottom, a pop up now shows an option for ‘lease’.

You have the choice to enter in a downpayment amount, and default amounts are set at $4,500 down for 10,000 annual miles on a 36-month term, for a monthly payment of $499 US. If you follow these defaults, paying less than $500 US per month (before gas savings) for a new Model Y lease, may sound attractive to some, especially business owners able to write off miles.

Tesla offers annual miles options of 10,000, 12,000 and 15,000, over a 36-month term only. “You forgo the option to buy your car at the end of the lease and must return it to Tesla after the lease term,” explains Tesla.

As for where Tesla leasing is available for the Model Y? The company’s website notes only the following 40 states support leasing for the compact SUV: AL, AK, AR, AZ, CA, CO, CT, DC, FL, GA, HI, ID, IL, IN, KS, MA, MD, ME, MN, MO, MT, NC, ND, NJ, NM, NV, NY, OH, OR, PA, SC, SD, TN, TX, UT, VA, VT, WA, WV, and WY.

For Canadians, leasing only is available for Model S and Model X, for 24 and 36-month terms; leasing is not available for Model Y, which launched back in June in the country.

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