Tesla has rolled out some new lease options for their base Model 3 sedan. Their ad claims you can lease a Model 3 Standard Range Plus for $399/mo, which is true. Although you’ll need to come up with around $5,000 at signing and that’s on a 36mo term with just 10,000 miles per year.
Tesla Leasing terms include:
- Three year program with 10,000, 12,000 or 15,000 annual mileage options.
- Model S and Model X – $7,500 down payment, $695 acquisition fee and the first month’s lease payment is due when picking up your Tesla.
- Model 3 – $4,500 down payment, $695 acquisition fee and the first month’s lease payment is due when picking up your Tesla.
- No security deposit required.
If you’re like me and enjoy driving and do a bit of traveling, you’ll want to go for the 12 or 15 thousand mile package and that will increase the payment by about $50 per month. With nearly $7,000 due at signing and a hefty $425 mo lease payment makes you wonder why you don’t just finance the $40,000 car.