Here’s How Far Tesla Cybertruck Lease Prices Have Fallen

• Tesla lowers monthly lease prices for its Cybertruck again, now leasing at $749 a month for 36 months after a $7,500 down payment.

• The AWD versions of the trucks have received quite a few incentives over the past few weeks, including free charging and Full Self-Driving (Supervised) subscriptions.

• The EV maker is seen as being close to maxing out incentives for current versions of the truck, which has been on sale for just over a year, but the more affordable single-motor variants have yet to enter production.

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We are still far from seeing the least expensive version of the Cybertruck arrive on sale, but the latest indications are that most of the demand for pricier variants has been fulfilled some time ago.

Now, the EV maker has slashed lease prices for the Cybertruck to help move remaining inventory, lowering the monthly lease price from $899 a month to $749 a month. The lease does still require a hefty $7,500 down payment, before various other fees due at signing.

That is a steep cut for sure, but what could be even more whiplash-inducing is the fact that at the start of November Cybertruck leases began at $1,068 a month.

That was the payment for the AWD version of the truck at the time, while the tri-motor Cyberbeast demanded to be fed at least $1,284 a month, with more generous mileage options stretching up to $1,338 a month for 15,000 miles a year, in place of the standard 10,000 miles.

In other words, we haven’t seen the bottom of this lease pricing well, and waiting a few more months could yield even greater savings for prospective Cybertruck lessees. (In fact, just waiting in general could result in greater deals down the line, including purchase prices).

To purchase one outright, buyers will still need at least $81,985 for an AWD version, so there is plenty of room for more drops down the line.

But that’s not all. Tesla is also throwing in free wraps for Foundation Series Cybertruck buyers—a $6,000 value—to keep the trucks moving. The offer for the free XPEL-installed wraps ends March 31, and the voucher for the free installation must be redeemed by June 30 of this year.

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In effect, Tesla is pressing quite a few, if not all, of the demand-generation buttons it has in front of it.

Just weeks ago Tesla sweetened the deal for Cybertruck buyers even more, throwing in free charging and Full Self-Driving (Supervised).

But one button it hasn’t pressed so far is the one that will produce single-motor Cybertrucks—at one point they were promised to start at $39,900.

We aren’t holding our breath to ever see them actually sell for that price, as that promise was made well before the arrival of our current inflationary dystopia, but it is worth noting that the least expensive Cybertrucks are still sitting at about double that price. So there is still plenty of room for prices, and equipment levels, to drop.

In the auto industry it is very common to see a rush of buyers for the first year of a given model, especially a unique one, with an automaker then facing the task of converting entirely new buyers to a particular model.

But the variety of incentives and price drops applied to the Cybertruck in recent months to keep sales moving appears extraordinary, unfolding over a period of weeks.

However, the more inventory-moving step of the past few days could be the simultaneous drops in monthly lease prices for two Model 3 variants.

The RWD Long Range version of the Model 3 has dropped to $249 a month, while the AWD Long Range version has also dropped by $50, sliding from $399 to $349 a month.

As these are still Tesla’s bread and butter—and have recently received a refresh—this drop in lease pricing could be far more consequential in the short term.

Would a starting price of $39,900 for a single-motor Cybertruck motivate more buyers to pick one up, or are issues other than price playing a heavier role? Please comment below.