The 2024 Tesla Model 3 RWD is now cheaper to lease than the 2025 hybrid Toyota Camry – here’s how it breaks down.
In the market for a sedan? The folks at CarsDirect surfaced an interesting EV/hybrid sedan comparison. You can lease the 2024 Tesla Model 3 Standard Range Rear Wheel Drive for just $299 per month over 36 months with $3,993 due at signing. That makes the effective monthly cost $410, which is a pretty good deal when you consider that the Model 3’s MSRP is $40,380.
Meanwhile, the Toyota Camry (above), which now only comes as a hybrid with up to 51 MPG combined, didn’t get a price bump despite the redesign. However, Toyota is offering the LE model for $359 per month over 36 months with $2,999 due at signing. The Toyota Camry‘s MSRP is only $29,804, but the effective cost is $442 – that’s $32 more per month than the Tesla Model 3. Plus, you’re going to save even more in a Model 3 because you won’t have to buy gas.
If the 2024 Tesla Model 3 Long Range All Wheel Drive is catching your eye, it’s now more affordable because it’s become eligible for the full $7,500 tax credit. You can lease it for $395 per month over 36 months with $4,089 due at signing, making the effective monthly cost $509. The Long Range AWD has around 70 more miles of range.
If you buy rather than lease the Long Range model, it’s only around $1,000 more expensive than the Standard Range model, thanks to the federal tax credit. But heads up, which I flagged last week, that Tesla scrapped promotional financing on the Model 3 Long Range after it became eligible for the $7,500 federal tax credit. You can read more about that here.
Top comment by Justin
I disagree that the Model 3 is a midsize car. To me, its passenger space is closer to a compact like a Corolla than a midsize like a Camry which feels much larger inside. I can't fit behind myself in the Model 3. I can in the Camry.
Click here to find a local dealer that may have the Tesla Model 3 in stock.–affiliate link
Click here to find a local dealer that may have the Toyota Camry in stock.–affiliate link
To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –affiliate link*
FTC: We use income earning auto affiliate links. More.
Comments