What Does It Cost To Lease a Tesla Monthly Compared To a Toyota Camry?

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Are you looking for a budget-friendly electric or hybrid sedan? If you are, then you might be considering leasing either a Tesla or a Toyota Camry. Both are strong brands, known for producing quality, reliable, high-performance cars. Whichever brand or particular car you prefer, you’ve always got to consider the cost and that includes:

• How much do I have to pay upfront?
• How much is it per month?
• Are there any other costs to consider, like buying gas (if you’re looking at a hybrid)?

GOBankingRates looked into Tesla and Toyota Camry monthly lease costs to see which would be best and more affordable right now. 

Tesla Lease Costs 

As you may already be aware if you’re interested in electric vehicles (EVs) and hybrids, Tesla’s brand has taken a beating recently. Between the CEO Elon Musk’s antics, tougher competition and slowing demand, Tesla saw a 1% drop in sales from 2023 to 2024, according to CNN. Sales for Tesla continue to slide worldwide. Cox Automotive data also showed that used Tesla listings jumped by 33% since the start of 2025. 

Earlier in the year, Tesla suddenly cut prices, according to Forbes. However, that was short-lived, with prices returning to previous levels; although with no need to put money down when signing a lease. Here are the leasing costs according to Tesla:

• Model 3 Long Range Rear-Wheel Drive (RWD): From $349 per month 
• Model 3 Long Range All-Wheel Drive (AWD): From $549 per month
• Model 3 Performance: From $849 per month
• AWD Cybertruck: From $899 per month

Unless there is a deal on (like now, at the time of writing), all of the Model 3’s require a $2,999 down payment, are on 36 months and 10,000 miles per year leases. The AWD Cybertruck requires a $7,500 down payment and is also on a 36 months and 10,000 miles per year lease. 

With all of them and any EV, you get the benefit of the $7,500 federal EV credit, according to the U.S. Department of Energy. Leases don’t have the same stringent credit terms compared to purchasing a car on credit, so it’s easier to secure a lease and the federal credit. You can spread the $7,500 federal EV credit over the term of the lease or have this applied when tax season comes around. 

Now, let’s see how these lease costs for Tesla compare with the Toyota Camry. 

Toyota Camry Lease Costs 

The Toyota Camry is a comparable car in every way to Tesla’s Model 3 (RWD, AWD and Performance), except for the Camry range all being hybrid’s, which means you’ll also have gas costs to consider. 

Based on the most up-to-date pricing direct from Toyota, here are the monthly lease costs and terms for the Camry range:

• Toyota 2025 Camry SE (Sport Edition; 2WD 4Dr. Sedan SE Hybrid CVT Model 2561): $349 per month 
• Toyota 2025 Camry XLE (Executive Luxury Edition; 4WD 4Dr. Sedan XLE Hybrid CVT Model 2555): $489 per month 
• Toyota 2025 Camry XSE (Extreme Sport Edition; 4WD 4Dr. Sedan XSE Hybrid CVT Model 2556): $509 per month 

All of the Toyota 2025 Camry’s require a $2,999 down payment, are on 36 months and 12,000 miles per year leases. You get the benefit of an additional 2,000 miles per year. Toyota notes that the lease cost excludes tax, title, license, registration fees and dealer options and charges. Unfortunately, none of the Toyota Camry cars qualify for the Clean Vehicle Tax Credit of $7,500, based on the most recent information from the IRS. So that also makes Tesla more affordable because if you are eligible then so are any of the Tesla Model 3’s. 

So, Which Is More Affordable?

When Tesla was offering Model 3 leases at $299 per month with $1,000 down, they had a way better value than the Toyota Camry range (XLE, SE and XSE). 

However, now that those deals have gone away, the only price parity is the Toyota 2025 Camry SE and Tesla Model 3 RWD, both of which are currently leasing for $349 per month. All of the other Tesla models are more expensive than the Toyota Camry. 

Here’s how they stack up:

• Toyota 2025 Camry range (XLE, SE and XSE): 
  • Between $349 and $509 per month
  • $2,999 Down Payment 
  • 36 months
  • 12,000 miles per year
  • No Clean Vehicle Tax Credit of $7,500
  • Additional gas costs 
  • All lease cost excludes tax, title, license, registration fees and dealer options and charges

•  Tesla Model 3 range (RWD, AWD, Performance):
  • Between $349 and $899 per month 
  • Currently zero; usually a $2,999 Down Payment 
  • 36 months
  • 10,000 miles per year.
  • Yes: Clean Vehicle Tax Credit of $7,500 (if eligible)
  • All lease cost excludes tax, title, license, registration fees and dealer options and charges

If you factor in the Clean Vehicle Tax Credit of $7,500 it does make Tesla’s Model 3’s more affordable, but overall, still not with enough of a price advantage. Although with the cost savings from the zero downpayment and the fact that electricity is cheaper then gasoline in every state (as reported by Forbes), you’ll save money on fuel.

This means that overall, the most affordable Tesla option is cheaper than the most affordable Toyota Camry available.

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