Tesla Cybertruck Lease Prices Drop Amid Looming Demand Issues

It’s still not cheap, but at least it’s moving in the right direction.

Tesla Cybertrucks Parked

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Iulian Dnistran

By: Iulian Dnistran

Dec 4, 2024 at 3:47am ET

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Tesla has lowered the leasing price for both Cybertruck versions.
Even with the price reduction, it still costs over $1,000 per month to get a Cybertruck.

The Tesla Cybertruck is now cheaper to lease. That said, it’s still not exactly what I’d call “cheap.”

Arguably the most controversial vehicle on sale today in the United States, the Cybertruck is listed on the automaker's website with a starting lease price of $899 per month for the entry-level All-Wheel Drive version, while the tri-motor Cyberbeast is $100 more.

That’s a $100 decrease compared to the initial pricing, but don’t let the numbers fool you because the story is a little more complicated. First, the new prices are valid with a $7,500 down payment, a 30,000-mile limit and a 36-month term.

Tesla's updated Cybertruck webpage shows lease prices starting at $899 per month, but there's more to the story.

Second, several taxes need to be paid in order to get the EV into your hands, including a $695 acquisition fee. Then, there’s a $395 disposition fee when returning the vehicle. So, let’s do some simple math. With $7,500 down, a 36-month agreement and a 10,000-mile annual limit, we get an effective monthly payment of $1,137. If you want to buy the truck at the end of the lease agreement, there's an additional fee of up to $350.

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Want to drive 15,000 miles per year? Sure, you can do that, but it will cost you $1,175 per month. There’s also a 24-month lease option which comes down to $1,347 per month. Cheap, it is not, but neither is the Rivian R1T, which costs $1,061 per month for 36 months and 30,000 miles if you go for the dual-motor version with the Large battery pack.

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In the case of the Cybetruck, it looks like Tesla is doing everything it can to boost sales. The angular pickup had a great sales start this year, becoming the best-selling pickup in the United States along the way, but that might not hold for long. This week, assembly workers at the Austin factory where the Cybertruck is made have been told to stay home until Friday. Previously, the reservation backlog seemed to have been exhausted after less than a year, despite Tesla CEO Elon Musk claiming the Cybertruck amassed “millions” of reservations.

According to data from Cox Automotive, roughly fewer than 30,000 Cybertruck were sold and registered in the United States in the first nine months. That’s a solid performance from a newcomer and one that beat both the Ford F-150 Lightning and Rivian R1T. That said, we’ll see what will happen during the fourth quarter.

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