Tesla has reduced lease prices for the Model 3, Model Y, and Cybertruck in the United States, lowering monthly payments by as much as 23%. The update, which appeared on Tesla’s website this week, also included a notice stating that “prices increase in November,” leading some customers to mistakenly believe the change applied to vehicle purchase prices rather than leases.
The clarification came after users noticed the new pricing details on Tesla’s Current Offers page, where the company specifies that the November adjustment refers exclusively to lease programs. Vehicle purchase prices in the U.S. remain unchanged for now.
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Under the new rates, the Model 3 can be leased from $329 per month, while the Model Y starts at $449 per month—pricing that brings both models closer to mainstream affordability and comparable with popular gasoline and electric competitors such as the Hyundai Ioniq 5 and Ford Mustang Mach-E. The Cybertruck lease begins at $699 per month with a $5,000 down payment, marking its lowest advertised rate to date.
While the lower rates improve Tesla’s leasing competitiveness in the U.S., the update does not extend to Canada, where leasing costs remain substantially higher.
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Current Canadian pricing starts at $999 per month for the Model Y and $1,329 per month for the Model 3, maintaining a significant gap compared with the U.S. market. The adjustments come as Tesla continues to balance affordability with demand amid shifting economic conditions and growing competition in the EV market.
