Tesla started a lease deal for the Model Y and Model 3 in November 2025. Now, new customers can get either car with no down payment. You only pay the $695 acquisition fee and your first monthly payment before you drive out.
The standard lease runs for 36 months. Each year, you can drive 10,000 miles. For the Model 3, the typical monthly payment is about $329 if you put money down. For the Model Y, the usual rate is around $399 with a down payment. Because there’s no upfront payment now, monthly costs move up a bit. For instance, the Model Y Premium Rear-Wheel Drive can run from $449 to $529 per month, depending on where you live and which trim you pick.
Comparison shopping matters. The lease on a Model Y is now about the same as on a Model 3, even though the crossover’s sticker price is higher. Some months, the Model Y is even a few dollars cheaper to lease than similar hybrids from big brands, even when those cars cost less if you buy them outright. People shopping for an SUV or family car may find the Model Y a strong option.
Free upgrade for lease customers
Tesla’s offer isn’t just about lower upfront costs. There’s a free upgrade included with every new lease. Lease a Model 3 or Model Y, and you pick one feature for free. Popular upgrade choices are premium paint, 20-inch wheels, white interior, or a tow hitch. Normally, these add-ons cost extra, but they’re included in this deal. The upgrade is only for leases, not purchases.
Tesla has given these upgrades on some previous special offers, but not with a zero down lease at the same time. Right now, if you lease, you get both, no down payment and one free option. You can pick your upgrade when you place your order.
The lease offer is only for customers who get approved for financing. You need decent credit for approval. Tesla hasn’t said exactly how high your score should be, but most car leases need fair to good credit. The deal is available at select U.S. retail locations. Tesla hasn’t shared a list of these stores or said how long the deal will last.
Why Tesla brought the promotion now
This promotion began near the start of November. It comes right after a change in federal tax credits for electric vehicles in the United States. Until the fall, buyers could get up to $7,500 back in federal tax credits on new Tesla vehicles. When this credit changed or expired, Tesla decided to put more focus on leasing. Offering both $0 down and a free upgrade makes the offer stand out.
Tesla has dropped monthly payments for both models lower than before. At some stores, lease rates went down by $50 per month compared to October. Some buyers saw their effective costs fall after factoring in updated interest rates and savings from the deal.
Extra incentives and options
Tesla sometimes runs more temporary promotions. At some times this year, buyers and lessees could get free supercharging for up to a year, especially before September 30. Some deals also offered discounts on Full Self-Driving for those who paid cash. Right now, those extras are mainly for buyers who pay all cash or finance directly, but lease customers still get the free upgrade.
Tesla’s pricing keeps changing as other automakers roll out cheaper electric cars. Compared to popular hybrids and lower-priced SUVs, the Model Y’s lease deal stands out for lower monthly payments against some competitors.
The Tesla lease offer is for a limited time only so if you want to lease a Model Y or Model 3 with no money down and get one free upgrade, start by looking on Tesla’s main site. You can see current pricing, upgrade options, and check which locations are running the deal. Then, fill out the application and see if you qualify.
Details at http://tesla.com/current-offers.
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