Tesla Slashes Leasing Prices on Model 3 and Model Y, Could Lose Full $7,500 EV Tax Credit

Credit: Tesla/X

Tesla has slashed the lease prices for the Model 3 and Model Y in the United States, making them more affordable than ever. Monthly payments now start at $329 for a Model 3 Rear Wheel Drive (RWD).

The new lease prices are as follows:

• Model 3 RWD: $329/month (previously $419)
• Model 3 Long Range: $439/month (previously $509)
• Model 3 Performance: $529/month, (previously $609)
• Model Y RWD: $399/month, (previously $499)
• Model Y Long Range: $469/month, (previously $549)
• Model Y Performance: $539/month, (previously $629)

The prices above do not include Tesla's computations for potential gas and maintenance savings. They are also for a 36-month lease term with 10,000 miles per year.

Tesla announced that it is expecting to lose the full $7,500 federal tax credit on the Model 3 at the end of the year. The credit is expected to be reduced to $3,750 on December 31 "pending federal guidance." 

Tesla Model 3 is now CHEAPER than a Toyota Prius.

Tesla has just lowered lease pricing for their Tesla Model 3 and Y models in the US.

The Tesla Model 3 is now $329 per month with $4,500 down, 36-month term, and 10,000 miles per year.

The Tesla Model Y is now $399 per month… pic.twitter.com/FkEUMU6xbz

— Farzad Mesbahi (@farzyness) October 12, 2023

Why it matters: Tesla's move to make leasing more affordable is likely to appeal to consumers who are looking for a way to drive an electric vehicle without having to pay the full purchase price. The company's decision to alert customers of the upcoming change to the tax credit is also likely to be seen as a positive move, as it gives them time to make a decision about whether to buy or lease a Model 3 before the credit is reduced.

What's next: Tesla is still expecting to deliver 1.8 million cars this year, as it reassured investors of this after the Q3 production and delivery figures were announced earlier this month. The company is also facing increasing competition from other automakers that are entering the electric vehicle market. However, Tesla remains the market leader in electric vehicles, and its strong brand recognition is likely to give it an advantage over its competitors.

What we have: Check out some of these new arrivals from our shop!

Hansshow Tesla Model 3/Y F68 CarPlay Dashboard Touch Screen 6.86" Display: Do you miss having an instrument cluster for your Model 3 or Model Y? Don't worry, we got you covered. Our Hansshow Tesla Model 3/Y F68 CarPlay Dashboard Touch Screen 6.86" Display supports CarPlay and boasts 5G connectivity. It also displays information like your car's turn signals, safety belt status, battery usage, speed, gear position, external temperature, and distance between other vehicles, among others. 

Hansshow Tesla Model 3/Y Front Fog Light LED Sequential Turn Signal: Add a touch of style and safety to your Tesla Model 3/Y our easy-to-install LED sequential turn signals. They're easy to install and they provide cool sequential turn signal animation. But more importantly, they also increase your car's visibility and safety on the road.

Hansshow Tesla Model 3/Y H7 Plus Rear Touch Screen CarPlay Auto Display Android 13 System: Specifically designed for the Model 3 and Model Y, this rear touch screen gives your vehicle a Model S/Model X or Model 3 Highland-esque feel. It's a pretty capable touchscreen unit too, with features such as rear seat air conditioning control, music playback, and rear heat seating, among others. 

Hansshow Tesla Model 3/Y Alcantara Black Yoke Steering Wheel Design Inspired by Model X/S Yoke Steering: This innovative steering wheel features a yoke design inspired by the Tesla Model X and Model S, giving your Model 3/Y a more modern and futuristic look. The Hansshow Yoke Steering Wheel is also made of high-quality Alcantara, which provides a soft and luxurious grip feel. And with its easy-to-install design, you can upgrade your steering wheel in minutes.

A final word: Don't forget to place the code "HMORTON" upon checkout. This should give you 20% off your entire order from our online store. Do take note that this code applies to orders that are worth $80 and up. 

Check out some fresh items from our Tesla shop here.  

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