Tesla Owners: Want To Move On? Get $20,000 Off Of A Polestar 3 Lease

EV maker Polestar evidently wants to scoop up buyers who are over Tesla.

Polestar 3 First Drive: Jackson, Wyoming

Photo by: InsideEVs

Tim Levin

By: Tim Levin

Feb 24, 2025 at 4:53pm ET

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Polestar is offering Tesla owners up to $20,000 off of a Polestar 3 lease.
The carmaker is already offering $15,000 of incentives to lessees, so Tesla owners get $5,000 extra.
The deal comes as many Tesla owners are looking to sell their cars as a result of Elon Musk.

Some Tesla owners are more fed up with Elon Musk than ever and looking to dump the brand. Rival EV maker Polestar is wasting no time trying to scoop them up.

Polestar says customers who can prove their household currently owns or leases a Tesla can get up to $20,000 off of a leased Polestar 3 SUV. I'll repeat: $20,000 off.

Now, that number requires a little extra context. Polestar is already offering a $15,000 incentive for prospective Polestar 3 lessees (in part, that's likely thanks to the addition of the federal EV leasing credit). So the "Conquest Bonus" that Tesla owners get is a $5,000 sweetener.

Still, not too shabby. The deal started on Feb. 21 and runs through Feb. 28. (Update: Polestar is now running the deal through March 31, per its website.)

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Taken together, that should drastically drop the monthly cost of a Polestar 3 lease, which starts at $599 including the $15,000 cash on the hood. Tesla owners should be able to pay even less, provided they opt for the base, single-motor model. There's also a dual-motor, all-wheel-drive version that costs more.

Ever since Musk, Tesla's CEO, ramped up his political activity—and, more recently, became a full-blown government employee tasked with ruthlessly cutting spending—a movement to boycott the company has been gaining steam. Protestors have demonstrated outside of Tesla showrooms across the country, and people like Sheryl Crow have sold their Teslas.

Polestar 3 Performance (2024) im Test

The Polestar 3 Performance.

Photo by: Polestar

Polestar, a Chinese brand that spun out of Volvo and is part of the Geely Group, is capitalizing on this moment to earn some new customers. Polestar CEO Michael Lohscheller even told Bloomberg recently that he sees discontent with Musk's political stances as a sales opportunity. The young EV brand could use the help; it's hit a wall and saw a sales drop last year.

What do you think?

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New models like the Polestar 3 and Polestar 4 could give the brand the kick in the pants it needs—plus a whole lot of EV buyers looking for a Musk-free alternative couldn't hurt either.

Got a tip about the EV world? Selling your Tesla? Contact the author: Tim.Levin@InsideEVs.com

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