The Definitive Guide to Leasing a Tesla Model Y
An interactive tool to demystify lease payments, uncover total costs, and find the best deal for you based on the latest 2025 data.
Interactive Lease Payment Calculator
Use our tool to instantly estimate your monthly payment. Adjust the trim, down payment, term, and mileage to see how each factor impacts your cost. All calculations automatically include the $7,500 Federal EV Credit pass-through.
Estimated Monthly Payment:
$399
(Excludes local taxes and registration fees)
Unpacking the Total Cost
Your monthly payment is only part of the story. Even with a $0 down payment, there are mandatory upfront fees. This section breaks down all the costs you'll encounter from signing to lease-end.
Order Fee
$250
A non-refundable fee paid when you place your vehicle order.
Due at Signing
$2,085
Destination Fee ($1,390) + Acquisition Fee ($695). Required on every lease.
Lease-End Fee
$395
A disposition fee when returning the vehicle. Often waived if you lease or buy another Tesla.
Key Takeaway: The "Zero Down" Myth
Even if you choose a "$0 down" option, you must still pay the Order Fee ($250) and Due at Signing fees ($2,085) upfront. Your total minimum cash outlay to start a lease is **$2,335** plus your first month's payment.
The Incentive Engine: Maximizing Your Savings
Leasing a Model Y unlocks significant savings that aren't available to all buyers. This section explains the powerful federal credit and how stacking state-level incentives can dramatically reduce your overall cost.
The $7,500 Federal Credit "Leasing Loophole"
When you lease, Tesla (the owner) claims a $7,500 commercial EV tax credit. They then pass this entire amount to you as a capitalized cost reduction. This is not a rebate; it's automatically baked into every lease payment, lowering it for everyone, regardless of your personal income or the vehicle's MSRP. This is the single biggest "deal" in leasing a Tesla.
Total Savings Example (New Jersey)
Federal Credit Pass-Through: $7,500
NJ "Charge Up" Rebate: $1,500
NJ Sales Tax Exemption (est.): $3,100
Total Effective Subsidy: $12,100
The Fine Print, Simplified
Understanding your obligations is key to avoiding unexpected fees. Explore the official guidelines for wear and tear, mileage penalties, and insurance requirements.
Excess Wear & Tear Guidelines
Tesla has specific, measurable standards for what is considered acceptable wear. Use this interactive guide to understand what to look out for to avoid charges at lease-end.
Mileage & Buyout
$0.25 / mile
This is the penalty for each mile driven over your lease allowance.
Lease-End Buyout Option
You can now purchase your Model Y at the end of the lease for the residual value stated in your contract. This provides flexibility to keep the car if you love it.
Mandatory Insurance
Leasing requires higher insurance coverage than state minimums to protect the asset. You must carry:
- Bodily Injury: $100k / $300k
- Property Damage: $50k
- Max Deductible: $2,500
What's the Best Deal for YOU?
The "best deal" isn't one-size-fits-all. It's a strategy tailored to your priorities. Find your profile below for a final recommendation.
The Cost-Conscious Commuter
Lease the base LR RWD for 36 months at 10k miles/year with minimum down payment. This maximizes state rebates and yields the lowest monthly cash outlay.
The Tech-Focused Adopter
Choose a 24-month lease. The higher payment is a trade-off for the fastest path to upgrading to the latest Tesla tech, minimizing obsolescence risk.
The High-Income Professional
Leasing is a clear winner. It's the only way to get the $7,500 incentive if your income is above the purchase credit caps. The new buyout option adds a path to ownership.
The Potential Future Owner
A 36-month lease is your perfect extended test drive. Enjoy lower payments while you decide. At lease-end, you can simply walk away or buy the car you already know.