Tesla's Model Y Performance is a great deal at $57,500, but it comes with a downside | Carscoops

      The fastest Model Y reaches 60 mph in 3.3 seconds, but leasing a Tesla SUV has just become pricier.

      Tesla's Model Y Performance is now available on the configurator, with a price tag of $57,490.

      This all-wheel drive model boasts a range of 308 miles and a top speed of 155 mph.

      The company has also raised leasing costs following the government's removal of EV tax credits.

      Tesla's refresh of the Model Y SUV hasn't been sufficient to stop declining sales, but starting this week, there's a new incentive to visit the automaker’s showrooms. The high-end Model Y Performance is officially for sale in the US, and at just $57,490, it appears to be an excellent value for what it offers.

      If leasing the flagship Model Y Performance is more your style, Tesla's current terms start with a $4,300 down payment and a monthly fee of $635 for 36 months, along with a 10,000-mile annual limit. A shorter 24-month lease increases the monthly payment to $745. However, the down payment is adjustable and can be as low as $1,427, depending on how you set up the deal.

      For that price, you receive a bi-motor, all-wheel drive, five-passenger SUV that can accelerate from zero to 60 mph (97 km/h) in just 3.3 seconds, reach a maximum speed of 155 mph (250 km/h), and offer a 308-mile (496 km) range. In comparison, the next model down, the $48,990 Long Range All-Wheel Drive, achieves 0 to 60 mph in 4.6 seconds, has a top speed of 125 mph (201 km/h), and a range of 327 miles (526 km).

      If the heightened performance and features such as body-hugging front sport seats and improved suspension with adaptive damping do not interest you, it may be wiser to save the $8,500 difference and stick with the Long Range AWD model instead.

      Options? What Options

      Tesla provides few options for the Performance model, allowing buyers to choose from six colors at no extra cost and only the standard 21-inch Arachnid 2.0 wheels. The only major additional option is the much-touted Full Self-Driving package for $8,000, though buyers can also add items like a roof rack and an air mattress to increase their total cost.

      We were already aware of some technical specifications regarding the Performance, as well as its cost in Europe, but US pricing remained unknown until now. At $57,490, the Performance significantly undercuts Hyundai’s Ioniq 5N, priced at $66,200, but not Ford’s Mustang Mach-E GT trim. The latter starts at $54,495 but is half a second slower to 60 mph and has a lesser range of 280 miles. In contrast, while the 5N matches the Y's speed, it has a disappointing range of only 221 miles (356 km).

      While some states, like Colorado, provide EV incentives that can reduce the Performance's cost, the federal EV tax credit program ended in September after being eliminated by President Trump. This means there is no longer a chance for a significant $7,500 discount, and leasing a Tesla has consequently become more expensive.

      Lease Prices Increase

      Although Tesla has not adjusted the MSRPs of its other vehicles, it did increase leasing costs after the tax credit was no longer available, according to Reuters. Lease prices for the Model Y RWD and AWD have risen from a range of $479-$529 to $529-$599 per month. Meanwhile, Model 3 lease prices, including the Performance variant, have increased from a range of $349 to $699 to $429 to $759 monthly.