Tesla's January 2024 Lease Updates: Higher Payments, But Financing Still Wins
Happy New Year, Tesla fans! It's January 1st, and Tesla has hit the reset button on their incentives after a blockbuster December. If you missed out on that sweet $449/month Model Y deal, you're in for a reality check—the payments have jumped significantly. But don't worry; I've got the full breakdown, including some silver linings and why financing might still be your best bet.
Lease Deals: Not as Sweet as Before
Tesla's new lease options aren't lighting the world on fire, especially with a hefty $3,000 down payment across the board. Here's the rundown:
- Model Y Standard (cheapest Y): $479/month
- Model 3 Standard (cheapest 3): $449/month
- Model Y Performance (newly available for lease!): $799/month
- Model 3 Performance: $749/month
The $6,500 lease incentive? Gone. These deals aren't terrible if you're committed to leasing (e.g., for tax or business reasons), but they're far from compelling.
Pro Tip: Between the Model Y Performance ($799) and Model 3 Performance ($749), I'd pick the Y 9/10 times. Sure, the Model 3 might edge it out in handling and steering, but the Y's SUV utility, higher ride height, and comfort make it the winner for everyday life.
Financing and Inventory: Where the Real Deals Are
Leasing feels overpriced right now—over 36 months, you'll pay a premium. Instead, finance these rides:
| Model | Rate |
|---|---|
| Model Y Standard | 0% |
| Model 3/Y Premium | 2.99% |
| Model Y Performance | 5.29% |
| Model 3 | 2.99% |
Inventory discounts are popping up too! We're seeing up to $3,000 off on Model 3 and Y Standards. Check Tesla's site for free upgrades on inventory Model 3/Y and the $500 America's Heroes discount.
If you're buying, don't lease unless you must. Grab an inventory discount and finance at these rates.
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What Do You Think?
Leasing, financing, or holding out? Drop your thoughts in the comments. More Tesla updates coming—subscribe and stay tuned!
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