Tesla has introduced its most aggressive lease deal yet for the Model Y in the United States, eliminating the down payment requirement and adding a free upgrade. This promotion allows customers to start at $479 per month with no upfront cost. The move comes amid efforts to attract buyers following the end of the federal EV tax credit.
Tesla rolled out a new lease promotion for the Model Y on November 15, 2025, described as its most aggressive yet in the US market. Initially reported by industry analyst Sawyer Merritt on X, the deal eliminates the previous $3,000 down payment, effectively lowering the overall lease cost by $3,000 while keeping monthly payments at $479.
Customers can now order eligible Model Y variants with $0 down, a change that community members say reduces the full lease cost by several thousand dollars. Although pricing was more favorable when the $7,500 federal tax credit applied, this zero-down option lowers the entry barrier into Tesla ownership significantly.
In addition to the down payment waiver, every new lease includes one free premium upgrade. Options include premium paint colors such as Pearl White Multi-Coat, Deep Blue Metallic, Diamond Black, Quicksilver, or Ultra Red; 20″ Helix 2.0 Wheels; a White Interior; or a Tow Hitch.
The promotion applies to the Model Y Premium Rear-Wheel Drive and Model Y Premium All-Wheel Drive models. It does not extend to the Model Y Standard or Model Y Performance variants as of the announcement.
Merritt highlighted the deal's appeal: "Tesla has just effectively lowered U.S. Model Y lease prices by $3,000 by eliminating the down payment. The starting monthly price stays the same at $479/mo, but now you can get that with $0 down (vs $3k before). Plus, every new lease includes one free upgrade — your choice of an interior or exterior option."
This initiative reflects Tesla's strategy to boost accessibility in a competitive EV landscape, particularly after the tax credit's phase-out.