Tesla began offering lease options on used Model 3 and Model Y inventory in California and Texas, the first time leasing is available on pre-owned vehicles. Previously, used Teslas could only be purchased with cash or financed through Tesla or banks. The new lease deals can require $0 down and cost under $225 per month for some cars, and lessees may purchase the vehicle at lease end. The program helps move older inventory, some with older Hardware 3, and provides another route for consumers to get a Tesla before EV tax credits end on September 30.
Traditionally, Tesla has not allowed potential car buyers to lease its used inventory. The only two options were to buy with cash or finance it through Tesla or a bank. However, with the elimination of the $7,500 new and $4,000 used EV tax credits, Tesla is breaking its own rules and is now offering lease deals on its used vehicle inventory, but only in a couple of states, as of right now.
Tesla opened up lease deals on used Model 3 and Model Y inventory in California and Texas on Tuesday, marking the first time it has launched the option on pre-owned cars. The deals are tremendous and can cost as little as $0 down and under $225 per month for some vehicles. Tesla also allows customers to buy the vehicle at the end of their lease deal, which enables some really great ways to end up an owner of the car you plan to drive.
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