You can lease just about any new car on the market, including a Tesla. This hasn’t always been the case, though. Tesla just introduced its new leasing program back in 2019. Before then, you could only purchase a car with cash and through financing options. But don’t get too excited; there are still some restrictions to their leasing program.

A traditional car lease is a temporary form of car ownership that allows you to own the car for an agreed-upon amount of time. After the lease expires, you can either return the car or buy it for the depreciated value. Leasing is basically a rent-to-buy experience. With the Tesla plan, you cannot purchase the Models 3 and Y after the lease is up. Tesla will “recycle” these cars for a future autonomous ride-hailing service.

Although it may seem like a bummer to have to give up your Tesla after a few years of ownership, it still provides you with the Tesla experience. Plus, leasing a car gives you a chance to own one without having to pay monthly car loan payments.

Tesla’s Leasing Program

Outside of not being able to purchase certain models after the lease is up, Tesla’s leasing program is nothing out of the ordinary. Its leasing period is between 2-4 years with 10,000, 12,000, or 15,000 miles/per year options for most models. You’ll have to put down the down payment and the first month’s payment upfront to physically get the car.

Getting Started

To lease a Tesla, select a model under your Tesla account and order it. In the application form, there will be four different payment methods:

  • Cash
  • Financing from Tesla Partners
  • Self-Arranged Financing
  • Self-Arranged Lease

Select the ‘Self Arranged lease’ option, which will lead you to a lease application form. Fill out the online form and expect a call from a Tesla financial agent.

Leasing Costs

Before you apply for a lease, you need to know approximately how much your preferred model will cost. Monthly payments will vary depending on the person’s preferences and finances. Your lease is also subject to delivery fees.

Model 3 Standard Range Plus Rear-Wheel Drive

  • Leasing Period: 36 months
  • Down Payment: $4,500
  • Monthly Payments: 10,000 miles per year: $371. 12,000 miles per year: $391. 15,000 miles per year: $411.

 Model 3 Long Range AWD

  • Leasing Period: 3 years
  • Down Payment: $4,500
  • Monthly Payments: 10,000 miles per year: $472. 12,000 miles per year: $497. 15,000 miles per year: $521.

Model 3 Long Range AWD Performance

  • Leasing Period: 36 months
  • Down Payment: $4,500
  • Monthly Payments: 10,000 miles per year: $620. 12,000 miles per year: $649. 15,000 miles per year: $678.

Model S Long Range Plus

  • Leasing Period: 24 or 36 months
  • Down Payment: $7,500
  • Monthly Payments 24 Months: 10,000 miles per year: $1,092. 12,000 miles per year: $1,120. 15,000 miles per year: $1,148.
  • Monthly Payments 36 Months: 10,000 miles per year: $899. 12,000 miles per year: $917. 15,000 miles per year: $935.

Model S Performance

  • Leasing Period: 2 or 3 years.
  • Down Payment: $7,500
  • Monthly Payments 2 Years: 10,000 miles per year: $1,467. 12,000 miles per year: $1,504. 15,000 miles per year: $1,541.
  • Monthly Payments 3 Years: 10,000 miles per year: $1,247. 12,000 miles per year: $1,223. 15,000 miles per year: $1,247.

Model S Plaid

  • Leasing Period: 2 or 3 years.
  • Down Payment: $7,500
  • Monthly Payments 2 Years: 10,000 miles per year: $2,504. 12,000 miles per year: $2,248. 15,000 miles per year: $2,504.
  • Monthly Payments 3 Years: 10,000 miles per year: $1,932. 12,000 miles per year: $1,969. 15,000 miles per year: $2,005.

Model Y Long Range AWD

  • Leasing Period: 36 months
  • Down Payment: $4,500
  • Monthly Payments: 10,000 miles per year: $449. 12,000 miles per year: $526. 15,000 miles per year: $552.

Model Y Long Range AWD Performance

  • Leasing Period: 3 years
  • Down Payment: $4,500
  • Monthly Payments: 10,000 miles per year: $697. 12,000 miles per year: $710. 15,000 miles per year: $742.

 Model X Long Range Plus

  • Leasing Period: 24 or 36 months
  • Down Payment: $7,500.
  • Monthly Payments 24 Months: 10,000 miles per year: $1,226. 12,000 miles per year: $1,258. 15,000 miles per year: $1,290.
  • Monthly Payments 24 Months: 10,000 miles per year: $1,019. 12,000 miles per year: $1,040. 15,000 miles per year: $1,061.

Drive Away Happy

Drive away with your Tesla today! With the above leasing options, Tesla is no longer a dream. You can commit to the brand without having to actually commit. And if you do want to keep your car, as long as it’s the Model S or X, you can buy it at the end of your lease.