Tesla Has Dropped Leases on Model 3s, and Now They Are Cheaper Than a Toyota Camry at $350 and Then Spending Another $150 Monthly on Gas

Most car shoppers still assume a Tesla costs more than a Toyota. That assumption just collapsed. Tesla has cut its Model 3 lease to as low as $243 a month on select inventory units, and the standard advertised rate now sits at $299 per month. Meanwhile, a Toyota Camry runs you $350 or more per month to lease, and then the gas pump takes another $150 every single month. The math has shifted, and it has shifted fast. 

With 15 years covering the automotive industry, I can tell you this kind of pricing inflection point does not come around often. This is the moment many EV skeptics said would never arrive. It has arrived. And if you are still paying for a gas car, you need to read every word of this article.

This pricing story broke wide open on the TeslaInsider Facebook page. The account laid out the full picture in stark terms that are worth quoting directly here. 

TeslaInsider writes: 

"Tesla has dropped leases on inventory Rear-Wheel Drive Model 3s to as low as $243 a month before taxes, with the standard offer sitting at $299 for 36 months and $3,000 to $4,000 due at signing. The car starts at $36,990, delivers 321 miles of range and comes with full FSD capability included. Now compare that to leasing a Toyota Camry at $350 plus per month and then spending another $150 on gas every month. 

"The Model 3 costs less upfront and virtually nothing to fuel if you charge at home. With gas at $4.18 nationally and nearly $6 in California, the savings gap between electric and gas widens every time pump prices tick up. Tesla delivered 358,000 vehicles globally in Q1 2026 and the Model Y led California registrations despite boycott campaigns, proving that when the economics are this clear buyers follow the math not the headlines. Owners consistently report that the Model 3 beats its EPA range estimates in city driving where regenerative braking recovers energy at every stop, making the real-world efficiency even better than advertised."

And on top of this, as Diane Brookerd noticed (a member in the group), "Don't forget that EVs (not just Tesla) are virtually maintenance free. No oil changes, no belts to replace, no transmission issues, etc..."

The Real Monthly Cost of a Gas Car Nobody Talks About

Here is the problem most car shoppers never fully solve. When you budget for a car, you look at the monthly payment. You sign the lease, you drive away, and then the real costs start stacking up. Gas at $4.18 nationally adds $150 per month for an average driver. That number climbs past $200 per month in California. Oil changes, spark plugs, transmission service, coolant flushes, and exhaust repairs quietly pile on top of the lease payment. 

A $350 Camry lease becomes a $550 monthly commitment before you blink. The solution is to run the full number, not just the sticker payment. That is exactly why our coverage of what a Tesla actually costs after 32,000 miles of real ownership is one of the most important reads for anyone car shopping right now. One owner tracked every dollar and found the Tesla consistently undercut comparable gas cars over time. That story illustrates what the monthly payment alone never will.

What $299 Per Month Actually Buys You in 2026

The confirmed lease rate of $299 per month is not a stripped base car with nothing included. It is a 2026 Tesla Model 3 Rear-Wheel Drive with 321 miles of range and Full Self-Driving capability bundled in. FSD alone carries a retail value of thousands of dollars. You are getting a 321-mile range sedan, an advanced driver assistance system, over-the-air software updates, and access to Tesla's Supercharger network, all for less per month than a Camry. 

CarsDirect confirmed that every Tesla Model 3 variant received a $100 per month reduction in April 2026, making this a lineup-wide cut, not just a limited inventory special. That is a meaningful and documented reduction. The standard Model 3 effective monthly cost dropped from $513 to $410, representing a 20 percent cut. This is also confirmed by automotive commentator DennisCW on his YouTube channel, where he breaks down the new Tesla Model Y lease pricing in detail and validates what TeslaInsider reported.

Tesla vs. Toyota Camry, the Cost Battle That Is Already Decided

This comparison is not new. It has been building for years. At TorqueNews, we reported Tesla showroom data comparing cost per mile across the Model 3, Toyota Camry, and BMW 3 Series, and the Model 3 came out at $0.43 per mile over five years while the Camry checked in at $0.51 per mile. That was before this latest round of lease cuts. Now the monthly payment gap has widened further. 

One Tesla owner told Torque News that his Tesla electricity bill averages $40 per month, while his wife's Camry was costing three times that in fuel alone. That is a real number from a real owner, and it lines up directly with what TeslaInsider reported. If you have ever wondered whether Tesla ownership makes financial sense, this article documenting how one Tesla Model 3 literally paid for itself through gas savings alone will answer that question for you in plain numbers.

What Charging at Home Actually Costs Per Month

The word "virtually nothing to fuel if you charge at home" is not marketing language. It is math. The national average electricity cost is about $0.12 to $0.16 per kilowatt-hour. The Model 3 uses roughly 25 kWh per 100 miles. 

If you drive the national average of about 1,200 miles per month, your home charging cost runs between $36 and $48 per month. Compare that to $150 in gasoline. The monthly savings on fuel alone are $100 or more. Over a 36-month lease, that is $3,600 to $5,400 in fuel savings. Our piece on how much your Tesla electric bill actually goes up per month walks through real owner numbers across multiple states and makes this easy to calculate for your own situation. Charging a Tesla at home is closer to a utility bill line item than a fuel budget.

FSD Included: What That Actually Means for the Lease

Tesla including Full Self-Driving in the lease is a deliberate strategic move. For a lessee who wants to experience advanced driver assistance technology without committing to ownership, this is a compelling window. The software improves through updates over the course of the 36-month lease. You drive a car that gets better while you own it. No gas car on the market does that. Several Toyota Camry lessees on Facebook groups have noted that after adding navigation, safety packages, and feature bundles, their Camry monthly payment climbs well above $400. 

The Model 3 at $299, with FSD included, reframes the entire value calculation. Our earlier piece about one person who was offered a $309 per month Tesla Model 3 lease after a test drive shows exactly how real these numbers are for actual buyers sitting across from Tesla today.

The Gas Price Factor Nobody Can Ignore

Gas at $4.18 nationally is not a spike. It is the new floor. California has already crossed $6 per gallon. The households feeling this most are the ones locked into a gas car lease with 24 or 36 months still remaining. There is no exit. They signed the lease, they pay the gas, and every price increase at the pump hits their budget with no recourse. The Model 3 lessee has a fixed electricity rate at home. Rising gas prices simply do not touch them. This is the structural financial advantage that the TeslaInsider post correctly identifies. Our breakdown comparing Tesla ownership costs to Toyota directly over eight years found that fuel costs alone represent an $11,000 difference over the ownership period at average driving distances and gas prices. At today's pump prices, that gap is wider.

One Honest Caution Before You Sign

Good journalism means giving you the full picture, not just the headline. The $299 per month figure does not include taxes, and the $3,000 to $4,000 due at signing represents real upfront money. Insurance on a leased Tesla can run $150 to $250 per month depending on your location and driving record. 

If you have never charged an EV at home, you may need a Level 2 charger installed, which can cost $500 to $1,500 depending on your home setup. These are real costs and you deserve to know them. Some drivers who switched without preparing for the EV lifestyle found the transition difficult. One buyer who traded a Toyota Camry for a Tesla Model 3 without researching how charging works regretted the decision immediately. The car was fine. The preparation was not. Do your research, calculate your true monthly cost including insurance and charging setup, and then run the comparison honestly.

The Moral of This Story

Here is the lesson I want to leave you with, and it applies beyond car shopping. The most expensive mistake most people make is paying for something familiar when something better and cheaper is available, simply because they never stopped to run the numbers. The gas car lease felt safe. It felt normal. It felt like the thing everyone around you was doing. 

But normal is not always the same as smart. The driver who spends $500 per month on a Camry lease plus gas and ignores a $299 Tesla lease is not making a careful choice. They are making a comfortable one. Do the math. Make the decision with open eyes. Your wallet, and your family's budget, deserve that honesty from you.

Tesla's Q1 2026 delivery number of 358,000 vehicles and the Model Y's continued dominance in California registrations prove that buyers who actually sit down with the numbers are choosing electric. The economics are not coming. They are here.

Have you leased or considered leasing a Tesla recently, and how did the total monthly cost compare to your previous gas car payment once you factored in fuel? And if you are currently leasing a Toyota Camry or similar gas vehicle, what would it take for the numbers to convince you to make the switch? Share your experience in the comments below.

About The Author

Armen Hareyan is the founder and Editor-in-Chief of Torque News and an automotive journalist with over 15 years of experience writing car reviews and industry news. Now based in the Charlotte region (Indian Land, SC, he founded Torque News in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News on X, Linkedin, Facebook, and Youtube. Armen holds three Masters Degrees, including an MBA, and has become one of the known voices in the industry, specializing in the landscape of electric vehicles and real-world stories of actual car owners. Armen focuses on providing readers with transparent, data-backed analysis bridging the gap of complex engineering and car buyer practicality. Armen frequently participates in automotive events throughout the United States, national and local car reveals and personally test-drives new vehicles every week. Armen has also been published as an automotive expert in publications like the Transit Tomorrow, discussing how will autonomous vehicles reshape the supply chain, and emerging technologies in vehicle maintenance.