Polestar 3 gets cheaper lease and 0% finance options

Leasing a Polestar 3 could be an attractive option since it’s not yet eligible for the $7,500 electric vehicle tax credit

After Polestar began production of the entry-level single-motor 3 at its plant in Charleston, South Carolina, the electric carmaker announced new financing and leasing deals for some of its higher-end models. While Polestar has been in some disarray, the Polestar 3 is a compelling choice for consumers in the premium electric SUV market.

U.S. customers eyeing the 2025 Polestar 3 Long Range Twin Motors with the Pilot standard package can now lease one for $599 per month for 36 months. However, that doesn’t include the hefty down payment of $5,599. Taking into account this upfront cost, the effective monthly payment rises to $755, with a mileage cap of 10,000 miles per year.

Read: Polestar says Biden’s Chinese tech ban will make it impossible to sell American-made models in the U.S.

Over the life of the lease, this equates to $27,163. Previously, this version of Polestar 3 was priced at $699 per month for 36 months.

Of course, these are advertised prices, so your mileage may vary depending on your bargaining skills, the dealer’s flexibility, your ability to negotiate a lower capital cost (the negotiated price of the car, including fees), and your Whether more favorable monetary factors (interest rates) can be obtained. As always, persistence and careful negotiation can have a significant impact on the final cost of a lease.

One key reason consumers might prefer leasing rather than buying a Polestar 3 outright is the $7,500 in lease cash currently available. That’s in contrast to the $7,500 federal electric vehicle tax credit that’s not eligible for outright purchases, even though the model is made in the U.S.

0% financing

Polestar is also launching new financing options for the electric SUV, which could be a better deal if you want to keep the car. A recent announcement sent to dealers shows that 0% financing for 60 months is available on all models except the new single-motor version. Cars Direct says the previous financing rate was 6.99 per cent, meaning buyers can now save $15,000. New lease and financing deals are available until January 2, 2025.

Specs and pricing

Pricing for the dual-motor Polestar 3 starts at $73,400 (not including destination). The model features a 111 kWh battery pack and two electric motors, producing a total of 489 horsepower and 620 pound-feet (840 Nm) of torque. This setup provides an EPA-estimated range of 315 miles (507 kilometers) on a full charge.

For those who want more luxury and performance, Polestar offers a long-range dual-motor model for $78,900, 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 range also includes the Long Range Dual Motor with Pilot and Performance Pack, and the Long Range Dual Motor with Pilot, Plus Pack and Performance Pack, priced at $79,400 and $84,900 respectively.