This month, Tesla lowered the cost of 2023 Model 3 leases, which now start at $349 per month with $5,544 due at signing, plus taxes and government fees — or an effective average cost of $500 per month before tax.

It’s an improvement over prior Model 3 lease programs, and when combined with local and state incentives, can result in a very low cost of operation.

Here’s one data point that may be of interest to New Jersey residents: Leasehackr member @TommyBoy recently leased a 2023 Tesla Model 3 RWD for $356 per month with $1,600 total drive-off. This was made possible by a $4,000 point-of-sale New Jersey EV rebate, which when amortized over a 36-month lease term, results in savings of $125 per month. Additionally, EVs are exempt from sales tax in New Jersey.

Learn more about EV rebates and incentives on Leasehackr Forum.