Polestar Offers $20,000 Lease Incentive for Tesla Owners | Carscoops

      The starting price for the Polestar 3 is $68,900 for the Long Range Single Motor variant, rising to $80,800 for the Dual Motor version with the Performance package.

      Polestar is presenting lease offers beginning at $599 for the Long Range Dual Motor model. Additionally, non-Tesla owners can benefit from a substantial $15,000 discount. To qualify, buyers must take delivery of the Polestar 3 by February 28.

      Polestar aims to attract customers from Tesla, the leading name in the EV market, by providing incentives of up to $20,000 for those willing to switch and lease the new Polestar 3 SUV. Although there are some requirements, the overall process is straightforward and significantly reduces the starting price of $68,900.

      In the U.S., current Tesla owners or leasers can qualify by presenting registration or insurance documents that show the VIN, name, address, and expiration date. This promotion is valid from February 21 to February 28. If buyers provide the required information, they can receive a $5,000 Polestar Conquest Bonus towards the lease of a new 2025 Polestar 3.

      Additional Savings for Greater Discounts

      Alongside this bonus, the manufacturer is also extending a $15,000 Polestar Clean Vehicle Noncash Incentive, allowing for cumulative savings of up to $20,000 on a lease. Even non-Tesla owners can access the $15,000 discount if they finalize a Polestar 3 lease by February 28.

      These offers apply to the entire Polestar 3 lineup, although the availability of different variants varies based on location in the U.S. It's crucial to note that Polestar requires vehicles to be delivered by the end of February 28 to qualify for both discounts.

      Examining the Polestar 3 Range

      The 2025 Polestar 3 series begins at $68,900 for the Long Range Single Motor model, which provides 350 miles (563 km) of range with an output of 299 hp and 361 lb-ft (489 Nm) of torque. This model is joined by the Long Range Dual Motor, which served as the entry-level option in 2024, starting at $74,800, while the Polestar 3 with the Performance package is priced from $80,800.

      Lease prices differ by model and incentives. With the $15,000 Polestar Clean Vehicle Noncash Incentive factored in, leasing a Long Range Dual Motor could have an adjusted capitalized cost of $55,795, resulting in a monthly payment of $599 for 27 months, with $5,599 due at signing. This translates to an effective monthly payment of $806, totaling $21,762 over the lease term, excluding the down payment. However, Polestar has not revealed the monthly payment for Tesla owners who can apply the additional $5,000 discount.

      But Is It Truly Worth It?

      From a financial standpoint, it's crucial to go beyond the enticing discounts and consider the effective monthly payment. While Polestar’s incentives are eye-catching, buyers should also take into account other financial aspects like the APR on leases and the residual values, as these could diminish the benefits of those discounts.

      For instance, the well-equipped Model Y Juniper Long Range AWD Launch Edition—with all options selected, including the $8,000 FSD (Supervised), 20-inch wheels, $2,000 Performance upgrade, and others—is currently offered at $796 per month on a 36-month lease with 10,000 miles per year and no down payment. This price is likely to decrease further with the upcoming release of standard versions of the refreshed Model Y.