Is Leasing A Tesla Model Y Or Model 3 A Bad Idea?

Name: Is Leasing A Tesla Model Y Or Model 3 A Bad Idea?
Uploaded: 2020-07-22T14:46:46Z
Description: Car leasing vs. buying is worth a debate. The best choice is subjective. We see the Tesla Model Y $499 lease as a good deal, but perhaps it's not.

It's typically more financially sound to buy rather than lease a car, though each person's situation is unique.

leasing tesla model y bad deal

Steven Loveday

By: Steven Loveday

Jul 22, 2020 at 10:46am ET

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YouTuber Cleanerwatt says the new Tesla Model Y lease deal is a bad idea. This is interesting to us, since we think it's a pretty solid option for some people. Financing a Model Y through Tesla will cost you an extra $200 per month (about $699) over leasing, which is a payment some people just can't afford.

We will never tell anyone whether they should choose to buy or lease a new car. That's entirely up to you. Your choice depends on many factors, and those factors are different for each individual. We will, however, provide you with current lease and financing deals, comparisons of pricing, and other tools so that you know what's available and understand the details.

More Tesla Lease Deal News:

Tesla Will Lease You A Model Y For $499 Per Month

Polestar 2 Lease And Financing Deals Compared To Tesla Model 3

Tesla just started offering a Model Y lease for $499 per month. It's a 36-month lease that requires $4,500 down and allows for 10,000 miles per year. As far as lease deals are concerned, for a $50,000 premium crossover, this can be seen as a pretty competitive deal.

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For comparison, the Lexus RX Hybrid is leasing for almost exactly the same amount per month and due at signing. The Acura MDX Hybrid has a $419 monthly payment and a $3,500 due at signing. You can lease a BMW X4 for $549 per month with $4,000 down and a Porsche Macan will set you back $699 per month with $6,000 down. All of these are ~$50,000 SUVs.

So, why is leasing a Model Y (or even the Model 3 at $371 per month) a bad idea according to Cleanerwatt? Check out the video to learn about his analysis. Then, tell us if you think it's a bad idea to lease a Tesla. Are these leasing figures reasonable?

Source: Cleanerwatt (YouTube)

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