Tesla cuts Cybertruck lease prices amid looming demand issues

• Tesla has reduced the leasing price for both Cybertruck versions.
• Even with the price cut, purchasing a Cybertruck still costs over $1,000 per month.

The Tesla Cybertruck is now cheaper to lease. However, it’s still not exactly what I would call “cheap”.

The Cybertruck is arguably the most controversial vehicle for sale in the United States today. It’s listed on the automaker’s website with an initial lease price of $899 per month for the entry-level all-wheel-drive version, while the three-motor Cyberbeast costs $100 more.

That’s a $100 reduction from the original price, but don’t let the numbers fool you because the story is a little more complicated. First, the new pricing comes with a $7,500 down payment, a 30,000-mile limit, and a 36-month lease.

Tesla’s updated Cybertruck website shows lease prices starting at $899 per month, but there’s more to it than that.

Second, several taxes must be paid to get the EV into your hands, including a $695 acquisition fee. A disposal fee of $395 will then apply when the vehicle is returned. So let’s do some simple calculations. With a $7,500 down payment, a 36-month contract and an annual limit of 10,000 miles, we get an effective monthly payment of $1,137. If you wish to purchase the truck at the end of the lease, there will be an additional fee of up to $350.

Do you want to drive 15,000 miles per year? Of course you can do that, but it will cost you $1,175 per month. There’s also a 24-month leasing option that costs just $1,347 per month. It’s not cheap, but neither is the Rivian R1T, which costs $1,061 per month for 36 months and 30,000 miles if you opt for the dual-motor version with the large battery.

In the case of the Cybertruck, it looks like Tesla is doing everything it can to boost sales. The boxy pickup got off to a great start in sales this year, becoming the best-selling pickup in the United States, but that may not last long. This week, assembly workers at the Austin factory that makes the Cybertruck were ordered to stay home until Friday. Previously, the reservation backlog appeared to be exhausted after less than a year, although Tesla CEO Elon Musk claimed the Cybertruck had amassed “millions” of reservations.

According to Cox Automotive, around 30,000 Cybertrucks were sold and registered in the US in the first nine months. That’s a solid performance from a newcomer, besting both the Ford F-150 Lightning and the Rivian R1T. However, we will see what will happen in the fourth quarter.