In an effort to stay competitive, Tesla has introduced two cheaper Model Y trims in recent months. The base RWD model came last year (previously called the Model Y Standard, but now known simply as the Model Y Rear-Wheel Drive), and the new Model Y All-Wheel Drive was announced this week. They may be far off the once-promised $25,000 Tesla, but these trims still represent strong value. There are now five Model Y trims, so here’s a look at how much they’ll cost to lease this February.
This Month’s Tesla Model Y Lease Deals
Tesla
Tesla
Tesla
Tesla’s renaming of the Model Y trims has caused some confusion, so before we jump into the numbers, here’s a look at all the models you can buy:
- Rear-Wheel Drive
- All-Wheel Drive
- Premium Rear-Wheel Drive
- Premium All-Wheel Drive
- Performance All-Wheel Drive
The Tesla Model Y lease price this month starts at $459/month for the RWD, with $4,155 due at delivery. The initial payment includes $3,000 down, the first month’s payment, and an acquisition fee. Overall, it’s cheaper to lease a Tesla Model Y now than it was last month. Do bear in mind that Tesla prices are subject to change at any time.
Tesla
The lease includes 10,000 miles annually, but excludes taxes and fees. If you exceed the annual mileage limit, you’ll be liable for a fee of $0.25 for every additional mile. Leasing a Model Y is currently possible in the following states: AL, AK, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NH, NJ, NM, NV, NY, OH, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WV, WY.
Here’s an overview of all five Tesla Model Y lease offers running at the moment:
| Trim | Monthly Payment | Lease Term | Due at delivery | Annual mileage |
| RWD | $459 | 36 months | $4,155 | 10,000 miles |
| AWD | $499 | 36 months | $4,194 | 10,000 miles |
| Premium RWD | $549 | 36 months | $4,245 | 10,000 miles |
| Premium AWD | $649 | 36 months | $4,345 | 10,000 miles |
| Performance | $799 | 36 months | $4,495 | 10,000 miles |
The new AWD trim makes it a lot more affordable to get a Model Y with all-wheel grip, and its performance boost over the base RWD model might just make it the pick of the bunch. To check all Tesla Model Y leasing offers, you can view the EV’s online configurator.
If you want to buy a new Model Y, the prices are as follows:
- RWD: $39,990
- AWD: $41,990
- Premium RWD: $44,990
- Premium AWD: $48,990
- Performance: $57,490
The Model Y Performance is the priciest by far, but it’ll also sprint to 60 mph in a ridiculous 3.3 seconds.
Lease Costs Vs. Ford Mustang Mach-E
One of the Tesla Model Y’s key rivals is the Ford Mustang Mach-E. Currently, the 2026 Mach-E Select can be leased for $448/month over 36 months, with a down payment of $4,054. Its total costs come to $20,182, whereas the Model Y’s total lease costs are $20,679, so there’s very little in it over three years.
Ford’s lease deal is based on covering 10,500 miles annually, 500 more than the Model Y’s deal, so it’s better value overall. That said, the Model Y RWD can go 321 miles on a full charge, a lot further than the base Mach-E’s 260 miles. For this reason alone, we consider the Tesla a better overall deal.
If, however, you have a hunger for performance, consider the Mach-E GT over the Model Y Performance. Over 36 months, the GT’s lease costs are $29,554, whereas the Model Y Performance will cost you $33,259. The Tesla is ultimately quicker, but both EVs are a thrill with their extreme acceleration.
Final Thoughts
The Tesla Model Y is still the most popular EV in the country, and it’s not hard to see why. Every version is quick, practical, and has a solid range. The new AWD variant plugs the one obvious gap in the lineup, too.
But rivals keep getting better and eating into Tesla’s market share. Without a brand-new EV at some point, one wonders how long the Model Y still has at the top of the sales charts.
Tesla
Disclaimer: This article is provided for informational purposes only. The information presented herein is based on manufacturer-provided lease offer information, which is subject to frequent change and may vary based on location, creditworthiness, and other factors. We are not a party to any lease agreements and assume no liability for the terms, conditions, availability, or accuracy of any lease offers mentioned. All terms, including but not limited to pricing, mileage allowances, and residual values, require direct verification with an authorized local OEM dealership. This article does not constitute financial advice or an endorsement of any particular lease or vehicle.
About the author
Karl Furlong
Senior Editor, Autoblog