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- The electric vehicle tax credit expired this week as a result of Trump's One Big Beautiful Bill Act.
- Now, Tesla is increasing lease prices on US models.
- Tesla CEO Elon Musk had loudly opposed the spending bill as Republicans worked on it this summer.
If you're thinking of leasing a Tesla, you probably should've done it before Wednesday.
The electric vehicle company increased lease prices on its US vehicles following the expiration of electric vehicle tax credits on Tuesday, which came as a result of President Donald Trump's One Big Beautiful Bill Act. Tesla has yet to increase non-lease prices.
The monthly rate hikes for a 36-month lease for the Model Y and Model 3, for example, are now listed as:
- Model Y: now $529 to $599 per month, up from $399 to $449 in August.
- Model 3: now $429 to $759 per month, up from $329 to $699 in August.
Business Insider verified the lease hikes via archived versions of Tesla's website. The news was reported earlier by Reuters.
An archived version of the Model 3's page on Tesla's website, dated August 22, included the phrase: "Lease includes $7,500 incentive. Ends Sept 30."
Tesla did not immediately respond to a request for comment. The company had encouraged potential customers to take advantage of the tax credit in a video posted to X on Tuesday.
Under President Joe Biden's "Inflation Reduction Act," the US government offered a $7,500 tax credit for new electric vehicles and $4,000 for used electric vehicles. Trump's megabill made those credits expire after September 30.
The company's CEO, Elon Musk, had loudly opposed the passage of the bill as Republicans in Congress worked on it over the summer. It was a key reason for the former DOGE leader's feud with Trump.
After the bill passed Congress in July, Musk said he was forming a new third party called the "America Party," though he has said little about the project since.
