Tesla is making its futuristic Cybertruck even more accessible by offering a leasing option. Starting at just $999 per month, drivers can now get behind the wheel of this unique electric pickup truck. The company has officially announced the leasing program for the Cybertruck, targeting customers who might not be ready for a full purchase commitment.
For the base All-Wheel Drive variant, which starts at $79,900, Tesla is offering a three-year lease with a $7,500 down payment, the first month’s payment of $999, and an acquisition fee of $695. That’s a significantly lower monthly cost than the upfront price. The higher-end Cyberbeast variant, priced at $99,990, has a slightly higher lease price of $1,204 per month for a three-year term.
This leasing strategy from Tesla is a smart move, considering the Cybertruck’s high price tag. It positions the vehicle as a more affordable option within the growing EV truck market, especially against its competitors like the Ford F-150 Lightning and the Rivian R1T. Tesla’s decision comes at a time when Cybertruck production is ramping up, with the company reporting positive gross margins from the vehicle for the first time in Q3 2023.
The Cybertruck was launched in late 2023 in the U.S. and later expanded to Mexico and Canada this year. Its unique design and performance have attracted considerable attention, and the company has seen strong sales figures. The Cybertruck’s popularity is evident in its ranking as the third best-selling EV in the U.S. behind Tesla’s own Model Y and Model 3.
With this new leasing program, Tesla is looking to attract even more buyers and expand the reach of its Cybertruck. This strategy could lead to even higher sales numbers, cementing the Cybertruck’s position as a force to be reckoned with in the EV truck market.
