A Post-Holiday Reality Check
After navigating a difficult year that included setbacks such as the end of key federal EV tax incentives, Tesla is preparing to introduce significant lease price increases across parts of its lineup following Christmas Day. According to CarsDirect, the changes will apply to the 2026 model-year Model 3, Model Y, and Cybertruck, with the Model 3 seeing the largest increase at 67%.
That means the Model 3 Premium trim will soon be offered at $499 per month with a $3,000 down payment, a significant jump from the current $299 monthly rate with $1,500 down. The report also estimates that the vehicle’s effective cost—which factors in additional expenses beyond the base monthly payment—will climb sharply from $368 to $616.
A Closer Look at the Deal
The mid-range Model 3 Premium trim is currently available in both rear-wheel-drive (RWD) and all-wheel-drive (AWD) configurations. However, the increase appears to apply to the RWD version, as its existing lease offer aligns with the $299 deal cited in the report.
Compared to the entry-level Model 3 Standard, the Premium package adds range, with the RWD version rated at an EPA-estimated 363 miles. The AWD version is rated at 335 miles. However, it doesn’t match the outright performance of the range-topping Performance trim, as the Premium RWD completes the zero-to-60 mph sprint in a more modest 4.9 seconds (vs 2.9 seconds in the Model 3 Performance).
The Model 3's crossover counterpart, the Model Y, is also slated for a sizable lease adjustment. The Premium RWD version will reportedly see its lease price rise by 39%, increasing from $449 with $0 down to $549 per month with a $3,000 down payment. Its effective cost is expected to climb from $481 to $667.
While the Model Y shares many mechanical components with the Model 3 Premium, its larger footprint and added weight result in a slightly lower EPA-estimated range of 357 miles. Acceleration is also slower, with a zero-to-60 mph time of 5.4 seconds.
Even Tesla’s Toughest Gets Pricier
Rounding out the list is the Cybertruck, Tesla’s all-electric pickup aimed at buyers seeking utility and zero emissions in one package. The report states that the base trim’s 36-month lease with $5,000 down will rise from $729 to $849 per month, representing a 14% increase. This variant features an all-wheel-drive setup, allowing for a zero-to-60 mph time of 4.1 seconds, along with an EPA-estimated driving range of 325 miles.
The new lease pricing will take effect on December 26. Shoppers looking to take advantage of the current lease deals must submit a buyer’s credit application by that date, with vehicle delivery required by December 31 to qualify.
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