Tesla has started offering leases of certified pre-owned cars, which is relatively rare in the industry, with $0 down as it desperately tries to move vehicles before the end of the quarter.
With the federal tax credit for electric vehicles set to expire at the end of the quarter, automakers in the US are all trying to optimize EV sales, as demand is being pulled forward.
This also applies to used EVs, as the $4,000 federal incentive for used electric vehicles will also expire on September 30th.
Now, leasing used vehicles is much less common than leasing new cars, but some automakers, or mainly dealers, do offer it.
Tesla is getting into this business for the first time.
In California and Texas, Tesla is now offering leases on certified pre-owned (aka used) Model 3 and Model Y vehicles.
These are reasonably priced and can be as low as $215 per month with $0 down for a 24-month lease and 10,000 miles per year.
Tesla also offers a 12-month lease and up to 15,000 miles annually. While there’s no down payment needed, there’s an “Acquisition Fee” of $695.
That, and the first month, is all you need to get in a used Tesla for the next year or two.
This is undoubtedly the cheapest way to get into a Tesla vehicle right now.
Tesla is trying to sell as many vehicles as possible in the US this quarter, as demand for EVs has been pulled forward due to the end of the tax credit. This is expected to result in a record quarter in the US, but it also going to create a few difficult ones in the future.
With demand being pulled forward and future buyers feeling like they missed out on EV discounts, the US EV market is expected to experience a significant slowdown over the next 12 to 18 months.
Tesla sales are down about 13% globally so far this year. While this quarter is expected to be better, many analysts still anticipate Tesla’s year-over-year performance to be down.
This year alone, Tesla added more than 50,000 electric vehicles to its inventory.
Used cars have also been piling up.
Tesla owners rushed to sell their vehicles as Tesla’s brand perception dived following its CEO’s involvement in politics.
We previously reported that the average used Tesla sale price has recently dipped below the overall average used car sale price in the US.
FTC: We use income earning auto affiliate links. More.
