- Polestar is offering leases from $599 for the Long Range Dual Motor.
- Non-Tesla owners are also eligible for a healthy $15,000 discount.
- Buyers must take delivery of the Polestar 3 by February 28 to qualify.
Polestar is keen to lure customers away from EV market leader Tesla and is offering incentives worth as much as $20,000 to buyers willing to jump ship and lease the new Polestar 3 SUV. While there are a few hoops that shoppers will need to jump through, the process should be relatively simple and cuts a significant chunk off the Polestar 3’s $68,900 starting price.
Read: Kia Tries To Woo Tesla Owners With Discounts
Anyone in the US who currently owns or leases a Tesla can qualify by providing Polestar with registration or insurance documents showing the VIN, name, address, and expiration date. This offer is only available from February 21 to February 28, but if buyers can provide the necessary details, they’ll receive a $5,000 Polestar Conquest Bonus toward the lease of a new 2025 Polestar 3.
Stackable Savings for Bigger Discounts
In addition to this bonus, the carmaker continues to offer its $15,000 Polestar Clean Vehicle Noncash Incentive, bringing total savings up to $20,000 off a lease. Even if you don’t own a Tesla, you’ll still be eligible for this $15,000 discount if you sign a Polestar 3 lease by February 28.
The deals appear to be offered for the entire range of the Polestar 3, but the availability of different variants differs depending on where you live in the US. That’s important as Polestar insists vehicles must be delivered by the end of February 28 to be eligible for the two discounts.
A Closer Look at the Polestar 3 Lineup
The 2025 Polestar 3 range kicks off from $68,900 for the Long Range Single Motor model, offering 350 miles (563 km) of range alongside 299 hp and 361 lb-ft (489 Nm) of torque. It joins the Long Range Dual Motor that had served as the entry-level version in 2024, starting at $74,800, while the Polestar 3 with the Performance package starts at $80,800.
Lease prices vary depending on the model and incentives. Factoring in the $15,000 Polestar Clean Vehicle Noncash Incentive, you could lease a Long Range Dual Motor with an adjusted capitalized cost of $55,795, paying $599 per month for 27 months, with $5,599 due at signing. That”s an effective monthly payment of $806, and over the lease term, buyers would pay $21,762 excluding the downpayment. However, Polestar has not disclosed the monthly payment for Tesla owners who can stack the additional $5,000 discount.
But Is It Really Worth It?
From a financial perspective, it’s essential to look beyond the flashy discounts and focus on the effective monthly payment. Polestar’s incentives are attention-grabbing, but buyers should be cautious about other financial details like the APR on leases or the residual values, as these could easily offset the discounts.
More: Tesla Rolls Out Regular 2026 Model Y In Europe, Cuts Prices By Up To $2,100
For example, the well-equipped Model Y Juniper Long Range AWD Launch Edition—with every option ticked on, including the $8,000 FSD (Supervised), 20-inch wheels, $2,000 Performance upgrade and more—is currently available for $796 per month on a 36-month lease with 10,000 miles per year and no downpayment. This price will certainly drop further once Tesla releases the standard versions of the refreshed Model Y.
