Home > Auto > Cars > Tesla Model Y SUV now up for grabs under lease scheme
Model Y from Tesla.
Model Y from Tesla.

Tesla Model Y SUV now up for grabs under lease scheme

  • Model Y has a range of 315 miles (506 kms) on a single charge and can seat seven adults with an optional third row. It locks horns against Ford Mustang Mach E.

There is not much new in the concept of leasing vehicles in current times but Tesla may have entered the game a tad late. Building on the thought process of 'Better Late Than Never', the EV giant has now launched its Model Y SUV under a lease scheme. The company had already started offering Model 3 on lease in August of 2019 - a year after the car was first launched, but it is the Model Y that is expected to benefit the most from leases.

While the Model 3 is Tesla's most affordable offering and has propeled the company to newer heights, Model Y has a more premium price tag. It recently received a price cut which saw the base price coming down to $49,990 from $52,990 but for those who may yet have concerns over dishing out this much money, the option of leasing could work out to be practical.

(Also read: How Geely's Polestar is trying to bring down Tesla's dominance in China)

Leasing Model Y is available in the US and starts at $499 per month. This involves a cash down amount of $4,500 and lease period is for three years and covers 10,000 miles (approximately 16,000 kilometres).

US media reports suggest that opening Model Y to lease is a way for Tesla to trigger demand. The Model Y is clearly a product of prime importance to the company that has raced towards becoming not just a market leader in EV space but one that has seen its stock prices go through the clouds. Critics have repeatedly claimed that the stock prices are over-inflated and that Tesla will have to manufacture and deliver a very high number of cars to justify the price tag. Thus far though, Tesla has managed to push forward in a steadfast manner and the Model Y - despite its more premium price tag vis-a-vis Model 3 - is the one car that the company has pinned a lot of hopes on.

Model Y has a range of 315 miles (506 kms) on a single charge and can seat seven adults with an optional third row. It locks horns against Ford Mustang Mach E.

Close