Tesla has updated its lease policy, now allowing lease buyouts for all models in the U.S., including the Model S, Model 3, Model X, Model Y, and the newly released Cybertruck.
The announcement, made on November 27, marks a shift from Tesla’s previous restrictions, which excluded Model 3 and Model Y leases from buyout eligibility.
This change applies to new leases across Tesla’s lineup and retroactively includes vehicles delivered on or after April 15, 2022. Customers now have the option to purchase their leased vehicle at the end of the lease term, instead of being required to return it or upgrade to a new Tesla.
Lease buyout now available for new S3XY + @cybertruck leases in the US
Model 3/Y starting at $299/month
Model S/X and Cybertruck starting at $999/month https://t.co/CHyRnEmBSi
— Tesla North America (@tesla_na) November 28, 2024
To begin the process, eligible customers can request an estimate through the Tesla app, available now with the latest version.
A $350 US purchase fee applies to vehicles delivered after April 13, 2019, along with local taxes and fees. Customers must sign a purchase agreement, schedule any necessary inspections, and submit payment by the specified deadline to complete the ownership transfer.
This update provides greater flexibility for Tesla lessees, particularly for those who prefer to keep their vehicles long-term. Currently, this option is available only in the U.S. and not in Canada.
