Tesla has kept its main Model Y lease deal at $449 per month with no down payment until December 31, 2025. The offer applies to the updated 2026 Model Y Premium Rear‑Wheel Drive. The move is part of a late push to lift fourth‑quarter sales after a slower year.
The lease runs for 36 months and is available to qualified customers in the U.S. It includes a yearly 10,000‑mile limit. The payment is $449 per month, and customers don’t need to use cash to lower the car’s price. But they still must pay the first month’s payment and an acquisition fee of about $695 at signing. There’s no added down payment.
Tesla had warned that lease rates would rise after December 26, but the new cutoff is December 31. Anyone who signs and takes delivery by year‑end can lock in this rate. After that, the price goes up.
Higher prices after December 31
Starting January 1, Tesla plans to increase the monthly payment for the same Model Y Premium RWD to $549 and add a $3,000 down payment. That change lifts the monthly bill by about 22%. When counting the upfront cash, the total cost for three years climbs by about 40%.
The Premium all‑wheel‑drive version will see an even larger jump. Its payment goes from $479 per month with $0 down to $649 per month with $3,000 at signing.
Extra offers that can combine
Some inventory Model Y vehicles come with more incentives that stay in place until the same deadline. Many in‑stock units qualify for one free upgrade option, such as a premium paint color, 20‑inch Induction wheels, or a white interior. The free option value often ranges between $1,000 and $2,500.
The Model Y Standard version for purchase offers 0% APR financing for up to 72 months. Higher trims have rates close to 2.99% APR for eligible buyers.
Other deals stack on top of these. Buyers using a referral link may get up to $1,000 off or a few months of Full Self‑Driving (Supervised) at no cost. Some trade‑ins qualify for about 2,000 free Supercharging miles. The full stack of incentives could total $8,500 to $10,500 depending on trim and location.
The $6,500 lease credit
The $449 payment includes a built‑in $6,500 lease credit. Tesla launched this on October 1, 2025, after the U.S. federal $7,500 EV tax credit expired at the end of September.
Some drivers use this deal with a “lease then buy” strategy. They sign the lease, request an early payoff quote from the lessor, and refinance through a bank or credit union. After adding fees and interest, many save about $5,000 to $6,000 compared with a direct purchase without the lease credit.
Tesla is leaning hard on Model Y deals as sales have softened in 2025. The company delivered 336,681 vehicles in the first quarter, 384,122 in the second, and 497,099 in the third. That puts the year slightly below 2024’s pace.
Tesla has lost ground in Europe and China to lower‑cost Chinese automakers and legacy brands offering new electric crossovers. However, the Model Y remains near the top of global EV sales charts.
The $449 lease, stacked offers, and internal credit help Tesla keep Model Y vehicles moving as it aims to meet year‑end delivery targets.
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