Leasing the Polestar 3 could be an appealing option since it doesn’t qualify for the $7,500 EV tax credit yet
December 6, 2024 at 16:31
- With zero down, the LR Dual Motor’s effective lease payment is $599 per month.
- Polestar is also offering 0% financing on its SUVs until January 2, 2025.
- Prices for the twin-motor Polestar 3 start at $73,400 excluding delivery.
Hot on the heels of Polestar starting production of the entry-level, single-motor 3 in the US at its Charleston, South Carolina facility, the electric carmaker has announced new financing and lease deals for some of the higher-end models. While Polestar is in a little bit of turmoil, the 3 is a compelling option for those in the market for a high-end electric SUV.
American customers eyeing the 2025 Polestar 3 Long Range Dual Motor with the Pilot Standard Pack can now lease one for $599 per month over 36 months. However, this excludes a hefty $5,599 down payment. When factoring in this upfront cost, the effective monthly payment rises to $755, with mileage capped at 10,000 miles per year.
Read: Polestar Says Biden’s China Tech Ban Would Make It Impossible To Sell Even US-Built Models In America
Over the life of the lease, this works out to be $27,163. Previously, this version of the Polestar 3 had commanded $699 per month for 36 months.
Of course, these are the advertised rates, so your mileage may vary depending on your haggling skills, the dealership’s flexibility, your ability to negotiate a lower capitalized cost (negotiated price of the car, including fees), and whether you can secure a more favorable money factor (interest rate). As always, persistence and careful negotiation can make a significant difference in the final cost of a lease.
One key reason shoppers may lean toward leasing rather than outright purchasing the Polestar 3 is the $7,500 lease cash currently available. This contrasts with its ineligibility for the $7,500 federal EV tax credit when purchased outright, despite the fact that the model is manufactured in the U.S.
0% Financing
Polestar has also rolled out a new financing offer for the electric SUV, which might be a better deal if you want to keep the car. A bulletin recently sent to dealers reveals it’s eligible for 0% financing for 60 months for all variants, excluding the new single-motor version. Cars Direct says the financing rate had previously been sent at 6.99%, meaning buyers can now benefit from $15,000 in savings. Both the new lease and financing deals run until January 2, 2025.
Specs and Pricing
Pricing for the dual-motor Polestar 3 starts at $73,400 (excluding destination). This model pairs a 111 kWh battery pack with two electric motors, producing a combined 489 horsepower and 620 lb-ft (840 Nm) of torque. The setup delivers an EPA-estimated range of 315 miles (507 km) on a full charge.
For those wanting more luxury and performance, Polestar offers a $78,900 version of the Long Range Dual Motor model, which includes the Plus Pack. This adds premium features such as heated rear seats, a 25-speaker Bowers & Wilkins audio system, and 21-inch wheels.
The Polestar 3 family also includes the Long Range Dual Motor w/Pilot and Performance Pack, and the Long Range Dual Motor w/Pilot, Plus Pack, and Performance Pack, priced from $79,400 and $84,900, respectively.
