Why Skip the $200 Used Tesla Lease Trap and Lease a New Model 3 Instead
You might have seen those eye-catching ads for used Tesla leases at just $200 a month. It sounds like a steal, right? Think again. Those deals are a thing of the past, and right now, they're not as good as they seem. In fact, stacking up the numbers, it's often smarter to lease a brand-new Model 3 for mid-$200s to $300 a month.
I saw a great post from DJ breaking this down, and it reminded me of last year's crazy low lease deals on used Teslas—some as low as the low $200s. But today? The cheapest used lease I could find is $305/month for a 2021 Model 3, and that's with $2,000 down. Ouch.
Used Tesla Leases: The Pros (and Big Cons)
Sure, there are some upsides to used leases:
- Shorter terms: You could opt for 1-2 years instead of longer commitments (though the minimum now seems to be 2 years).
But let's be real—the cons outweigh them:
- Higher down payment and monthly costs creeping up.
- Older tech: Hardware 3 (HW3) vs. the latest Hardware 4 (HW4) in new models.
- Warranty worries: Less coverage, potential maintenance headaches.
- Financing pitfalls: If you finance a used one, interest rates can be sky-high.
Why a New Model 3 Lease Wins Every Time
New leases start at $260-$350/month (with around $3,000 down for the best rates). Here's why it's worth it:
- Latest technology: HW4, plus Full Self-Driving (FSD) for just $100/month subscription.
- Full warranty: Bumper-to-bumper up to 50,000 miles—perfect for 2-3 year leases with 15,000 miles/year.
- Peace of mind: Take it straight to Tesla for fixes, no questions asked.
Yes, insurance might be a tad higher, and there are more upfront fees. But the value? Unbeatable.
| Feature | Used Lease (e.g., 2021 Model 3) | New Model 3 Lease |
|---|---|---|
| Monthly Payment | $305+ ($2K down) | $260-$350 ($3K down) |
| Lease Term | 2 years min | 2-3 years |
| Tech | HW3 | HW4 + FSD option |
| Warranty | Limited | Full 50K miles |
| Overall Value | Meh | 🔥 Winner |
Pro Tip: Use a Referral Code
Placing your order? Don't forget a Tesla referral code like the one in the description below. Score 3 months of free FSD or killer low rates like 0.99%! Link here.
Upgrading and selling your current Tesla? Check out Plug—they offer the highest payouts we've seen (up to $6K more than others), nationwide buying, offers in 15 minutes, and close in 2 days. Link here.
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Bottom line: Skip the used lease hype. Go new for the tech, warranty, and real savings long-term. What do you think—leasing new or buying used? Drop a comment below!
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