Leasing a Tesla allows you to drive models by paying monthly over a lease contract, instead of purchasing outright. Leased Teslas have mileage limits and you need to return at lease-end, but leasing opens Tesla ownership.
Note: Leasing not available in all states. Estimated lease payments not guaranteed. Use app to review delivery.
Tesla leasing available in: AK, AL, AZ, CA, CO, CT, DC, FL, GA, HI, IA, ID, IL, IN, KS, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NJ, NM, NV, NY, OH, OR, PA, RI, SD, TN, TX, UT, VA, VT, WA, WV, WY.
Leasing lets you upgrade to enjoy the latest features. Tesla provides lease specials monthly. Lease is economical. 25% choose to lease for features like hands-free driving.
Available Models and Financial Considerations
- Models for lease: Model 3, Model X.
- Evaluate buy versus lease.
Leasing advantages:
- Lower upfront cost than buying.
- Tax incentives mean more savings.
- Questions to consider when leasing.
Lease bank: US Bank.
Cheapest model is Model 3 starting at $334 per month. Most expensive is Model X Plaid at over $1,556 per month. Always consider the down payment when leasing.
Unfortunately, you won’t be able to purchase your Tesla at the end of the lease. If you drive more than 10,000 miles annually, you may want to consider buying instead.
Tesla Leasing vs Buying
For Tesla enthusiasts, buying the car may be the ultimate goal, but leasing offers a more affordable alternative. Here are factors to consider:
- Annual mileage
- Maintenance (Teslas don’t require gasoline or oil changes)
- Overall cost comparison over the lease term
This article reviews the Tesla leasing program and compares it to purchasing the vehicle, whether through financing or outright.
You will need a credit score of 720+ to lease the Model S, which offers the best mileage and acceleration of 0-60 mph in 3.1 seconds. Qualifying for Tesla financing may be possible with a lower score, but conditions may not be as favorable.
Tesla Financing Overview
Though there is no stated minimum credit score to apply for a Tesla auto loan, those with scores in the good to excellent categories (720+) typically qualify for lower-APR financing.
Improving Your Credit Score
If you’re considering Tesla financing, steps to improve your score include:
- Reviewing and disputing any errors in your credit report
- Reducing debt-to-income ratio
- Paying off outstanding debts
- Opening a secured credit card
- Taking out a personal loan to help boost your credit score