Tesla Offers Cybertruck Leases Starting at $999/Month

Key Highlights:

• Tesla has started offering leases for its Cybertruck, with prices beginning at $999 per month.
• Consumers can lease the all-wheel-drive Cybertruck for three years with a $7,500 down payment.
• The high-end "Cyberbeast" version costs up to $1,715 per month for a two-year lease with zero down.
• Tesla introduced leasing after addressing most of its existing Cybertruck order backlog.
• Despite high costs, the Cybertruck was Tesla's third-best-selling EV in the U.S. last quarter.

Tesla Inc. has introduced a leasing option for its much-awaited Cybertruck, with monthly payments starting at $999. This leasing plan offers U.S. consumers a way to drive the futuristic electric pickup truck by paying a lower upfront cost and spreading payments over a fixed period.

Leasing Details for Cybertruck

The leasing plan requires a $7,500 down payment for a standard all-wheel-drive Cybertruck lease with a three-year commitment. Customers opting for a more advanced version, dubbed the "Cyberbeast," can lease it for two years with no down payment, but the monthly charge will be upto $1,715. This new leasing structure provides consumers with flexibility in terms of pricing and commitment period.

Tesla’s website lists various leasing options, which appeal to different budgets and interests. With these choices, Tesla aims to make its Cybertruck accessible to a broader audience, especially as the market for electric vehicles continues to grow.

High Cost of Initial Cybertruck Models

When Tesla’s CEO, Elon Musk, first unveiled the Cybertruck prototype in 2019, he promised a starting price of $39,900.However, early versions of the truck that are currently available cost more than $100,000, significantly more than Musk's original estimate.

This increase may reflect changes made to the model or market changes that have impacted production costs. While the price is higher than initially anticipated, the unique design and cutting-edge features have maintained consumer interest.

Cybertruck’s Place in Tesla's Product Lineup

The Cybertruck may not yet match the popularity of Tesla's top-sellers, the Model Y SUV and the Model 3 sedan, but it is already making its mark. In the last quarter, Tesla reported to investors that the Cybertruck ranked as the third best-selling electric vehicle (EV) in the U.S., following only the Model Y and Model 3. Despite the truck's relatively recent entry into the market, it’s gaining ground among EV enthusiasts and Tesla fans.

Tesla does not yet provide separate delivery statistics for the Cybertruck, instead grouping it with its older models, the Model S sedan and the Model X SUV. Still, its rapid rise in popularity suggests that it has significant potential to impact the EV truck market. This could set a trend for other automakers interested in developing electric trucks that combine functionality with advanced technology.

Also Read: Truck Rental Rates Drop After Festive Rush, Vehicle Sales See Big Boost

CMV360 Says

Tesla’s Cybertruck leasing plan marks an interesting shift in its approach, potentially attracting customers who prefer flexibility and reduced upfront costs. New lease options may attract consumers who are curious about a vehicle but hesitant to make a large initial investment. 

Although the high cost remains a hurdle for some, the option to lease could help Tesla reach more drivers and strengthen its presence in the competitive electric truck segment. As demand for EVs grows, Tesla's decision to make leasing an option shows adaptability and customer focus.