With a large inventory of unsold Model Y stock, Tesla is still applying the full $7,500 tax rebate to leases on top of already steep discounts.
The Tesla Model Y was not just one of the best-selling cars of 2023, it was the best-selling car of 2023. The Model Y made its way into 1.23 million homes over the course of the year, eclipsing even Toyota’s chart-topping duo, the Corolla and Rav4. Following the nameplate’s amazing performance, you might think that Q1 2024 would be more of the same. Instead, Tesla deliveries were down for the first time since Q2 2020 and Tesla was left with a record number of unsold units.
Once you factor in all upfront costs, many of these deals have effective monthly payments of $400 or more. Still, do not forget to take into account any state EV incentives that you qualify for. The $5,000 Colorado state incentive for instance would bring the effective monthly cost back down to earth again. As of writing, there are still many Model Y RWD units available at $2,000 to $4,000 off and a significant number of Model Y Performance inventory at nearly $6,000 off MSRP.
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