Tesla Inc. has now made it possible for consumers in the US to lease its highly-anticipated Cybertruck, offering monthly payment options starting at $999. This move comes after Tesla worked through a significant portion of its Cybertruck order backlog, making the electric pickup more accessible to a wider range of customers.
The leasing option allows customers to choose from different configurations of the Cybertruck, with prices varying based on the leasing term and down payment amount. For instance, customers can opt for an all-wheel drive version of the Cybertruck and pay $999 per month with a $7,500 down payment for a three-year lease. On the other hand, those interested in the higher-end Cyberbeast iteration can lease the vehicle for two years at a monthly cost of up to $1,715 with zero down payment.
The Cybertruck, which initially had starting prices exceeding $100,000, is now more affordable with a base price of $39,900 as per Elon Musk's initial promises. Despite facing mixed reviews and skepticism due to its unconventional design, the Cybertruck has managed to capture consumer interest and establish itself as the third best-selling electric vehicle in the US last quarter, according to Tesla's reports to investors.
While the exact number of Cybertrucks being delivered on a quarterly basis remains undisclosed, Tesla has indicated that the pickup is gaining traction in the market, along with the popular Model Y SUV and Model 3 sedan. By introducing a leasing option with competitive monthly rates, Tesla aims to further boost the popularity and accessibility of the Cybertruck among prospective buyers.