2024-12-01 00:44:36 -0800

Tesla Introduces End-of-Lease Buyouts for Model 3, Model Y, and More in the US

By:
David Odejide

Tesla has made an important change to its car leasing business as it now offers an option many customers have been calling for. The automaker announced that its leased vehicles can now be bought at the end of the contract. Previously, Tesla planned to incorporate its leased vehicles into its Robotaxi service.

With the announcement shared on X (formerly Twitter) by Tesla North America’s account, Model 3, Model Y, Model S, Model X, and Cybertruck owners can now kick-start the end-of-lease purchase process right from their app, starting November 27. Upon confirmation of the application to buy, Tesla will generate a purchase packet for the driver to complete and sign. The vehicle will be inspected, and the buyer will pay the estimated amount.

Customers will get the ownership transfer document by mail.

According to Tesla’s announcement, the Model 3 and Model Y start at $299 per month, while the Model X, Model S, and Cybertruck start at a steeper $999 per month. A separate purchase fee of up to $350 is charged in addition to local taxes and fees.

Does this new development have anything to do with the Robotaxi service that CEO Elon Musk has been promoting? It might seem that Tesla is rethinking the driverless taxi product by getting rid of its leased vehicles, which could imply that the EV maker is not ready to launch the service anytime soon. In fact, Tesla itself confirmed that its cars equipped with Hardware 3, which includes most of the Model 3s and Model Ys on the road today, might not meet the safety requirements for unsupervised FSD.

However, it is possible that Tesla has realized its Robotaxi is best served by the Cybercab, which was designed from the ground up for autonomous taxi business. The Cybercab is way easier to charge as it does not require cables or human intervention.

However, what is clear is that many Tesla drivers want to accessorize their vehicles to enhance their ownership experience. One of the best-selling Tesla Model 3 accessories is the carbon fiber performance spoiler offered by Fusion Motorsports. This accessory is available in glossy and matte options. Thanks to the dead-simple installation process, it can also work as a Model Y accessory. You also enjoy a lifetime warranty while improving your car’s aerodynamics. Hurry now to outfit your Model 3 or Model Y while Fusion Motorsports offers a special discount.

Header image courtesy of Tesla

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