Dreaming of driving a Tesla Cybertruck without committing to a full purchase? You're in luck. The electric vehicle maker just rolled out lease options for the Cybertruck in the United States.
The official Cybertruck account on X, formerly known as Twitter, made the announcement on Nov. 8.
"You can now lease a Cybertruck. Starts at $999/mo (36 mo, $7500 down)," the post read.
Buyers can acquire the vehicle through financing, a full cash payment, or a lease.
This affordability strategy could broaden access to the Cybertruck and bring more environmentally friendly electric vehicles to driveways. It's especially good news for those looking for an all-electric pickup truck option.
Leases start at $999 per month for a 36-month term with a $7,500 down payment, while a 24-month lease option is priced at $1,199 per month for the same initial payment. For customers seeking flexibility, Tesla also offers leases with zero down payment, though these carry higher monthly costs, ranging from $1,249 to $1,568, depending on the model and lease length.
Getting the best rate means putting down $7,500, but thanks to the "leasing loophole," you can still receive up to $7,500 in federal tax credits when leasing a Tesla Cybertruck, even though it doesn't qualify for the credit under the Inflation Reduction Act for direct purchases.
"And it's WAYYYY cheaper to LEASE an EV than a gas car," Sheel Mohnot (@pitdesi) said on X.
The Cybertruck is available for lease in both AWD and the performance-focused Cyberbeast models. Mileage allotments range from 10,000 to 15,000 miles annually, providing options for both casual and frequent drivers.
🗣️ If you were going to purchase an EV which of these factors would be most important to you?
🔘 Good driving range 🔋
🔘 Affordable sticker price 💰
🔘 High-tech safety features 😌
🔘 Cheap maintenance costs 🛠️
🗳️ Click your choice to see results and speak your mind
The leasing program aligns with Tesla's strategy to expand EV adoption by lowering the barriers to entry for customers who may not want to commit to a full purchase.
Tesla has a history of creating developments that aim to enhance EV adoption. The company has invested $76 million into wireless charging technology — an innovation that could be transformative for drivers, including those with limited mobility. Tesla has also worked to create consistent upgrades across models, such as increasing EV mileage performance.
On average, gas-powered passenger vehicles generate over 10,000 pounds of carbon pollution each year, according to the Environmental Protection Agency. By making the switch to an electric vehicle, consumers can cut down on that heat-trapping air pollution, all while saving money on gas and maintenance.
For those interested in learning more about transitioning to an EV, check out TCD's guide.
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