Tesla's New Leasing Program Offers Model Y for $499 per Month

by Stef Z on July 20, 2020

If you’ve always wanted a Tesla electric vehicle, but you could never afford one, wait until you see the splendid news that Elon Musk has prepared for all Model Y fans.

Tesla’s most affordable crossover vehicle, yet still too pricey for most customers, is Model Y, at $49,990 cash.

On a standard 72 month loan, Model Y is only $699 a month. However, Tesla is always working for the benefit of its customers, and recently they’ve announced a new leasing program that can make you a Model Y owner for $499 per month.

Getting a Model Y Dual Motor AWD at this price is quite tempting, and the company is expecting to make a bestseller of this model.

Model Y is a large car with 68 cu ft cargo space, 316 EPA miles per charge, and a motor with 0-60 mph time at 4.8 seconds.

The crossover nature of Model Y is the best bet of the company to conquer the market of similar EVs. Many people are comparing Model Y to the BMW X3, but after this incredible leasing program, Tesla is most likely going to take over the EV crossover market.

By leaving the competition behind, Tesla is making this vehicle a perfect choice for families, yet still boasting a max speed of 135 mph.

So far, the only Dual Motor AWD vehicle by Tesla is the Model Y. Nevertheless, Mr. Musk is planning on releasing the all-electric crossover RWD Unit with over 300 miles of range. When this happens, the RWD Model Y will be even more affordable than the Dual Motor AWD version.

However, every good news comes with a little spoiler. It seems that similar to Model 3, Tesla won’t allow customers to purchase Model Y after the 36-month lease. The inconvenience here is only affecting the customers, while Tesla is retaining their used car value.

In this case, the company won’t let the second-hand car market benefit from their vehicles, but use the cars as part of their Robotaxi fleet.

The idea of re-purposing the leased cars to the upcoming Robotaxi project is very productive and will benefit the company even more than selling the vehicles.

Also, Tesla would need a high number of vehicles if they plan to compete with taxi services like Uber and Lyft. Knowing how the electric carmaker works so far, there is no doubt that Elon Musk will succeed in the Robotaxi project, just like he did with everything else so far.

The key focus at the moment is at mastering the Full Self Driving suite of Tesla vehicles, which is probably going to happen sooner than we think.

Tesla Autopilot is already more advanced than any other self-driving car on the market, but before launching a ride service, this feature needs to present a flawless performance.

Mr. Musk is very optimistic about upgrading the Autopilot, so we can only expect the best from the newest Tesla technology.

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