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The Tesla Model 3 is Now Cheaper to Lease Than a Toyota Camry
Comparing Leasing Options: Tesla Model 3 vs. Toyota Camry

In an exciting twist for those in the market for a new sedan, the 2024 Tesla Model 3 Standard Range Rear Wheel Drive (RWD) has emerged as a more affordable leasing option compared to the 2025 hybrid Toyota Camry. Here's a detailed cost comparison breakdown between these two popular models.

Leasing the Tesla Model 3
The 2024 Tesla Model 3 Standard Range RWD can be leased for just $299 per month over a 36-month period, with $3,993 due at signing. This results in an effective monthly cost of $410. Considering the Model 3's Manufacturer's Suggested Retail Price (MSRP) of $40,380, this is a compelling deal for an electric vehicle (EV) that offers modern technology and zero-emission driving.

Leasing the Toyota Camry
On the other hand, the 2025 Toyota Camry, which now comes exclusively as a hybrid model offering up to 51 MPG combined, has a lease offer of $359 per month over the same 36-month period, with $2,999 due at signing. This brings the effective monthly cost to $442. While the Camry's MSRP is lower at $29,804, the effective monthly cost is $32 higher than that of the Tesla Model 3.

Fuel Savings with the Tesla Model 3
One of the key advantages of leasing the Tesla Model 3 is the significant savings on fuel. Since the Model 3 is fully electric, drivers can avoid the costs associated with gasoline, which can add up over time. This makes the Tesla Model 3 not only cheaper to lease but also potentially less expensive to operate in the long run.

Long Range Model Considerations
For those interested in the 2024 Tesla Model 3 Long Range All Wheel Drive (AWD), it has become even more appealing due to its eligibility for the full $7,500 federal tax credit. This model can be leased for $395 per month over 36 months, with $4,089 due at signing, resulting in an effective monthly cost of $509. The Long Range AWD model offers approximately 70 more miles of range compared to the Standard Range model.

If you prefer to buy rather than lease the Long Range model, the federal tax credit makes it only about $1,000 more expensive than the Standard Range model. However, it's important to note that Tesla has discontinued promotional financing on the Model 3 Long Range following its eligibility for the federal tax credit.

The 2024 Tesla Model 3 Standard Range RWD presents an attractive leasing option that is not only cheaper than the 2025 hybrid Toyota Camry but also offers additional savings through its electric powertrain. With the added benefit of the federal tax credit for the Long Range model, Tesla continues to position itself as a competitive and cost-effective choice in the sedan market. For those prioritizing both savings and sustainable driving, the Tesla Model 3 is a compelling option worth considering.