Which finance method actually makes sense for the Model 3? Here's an honest comparison so you don't end up paying more than you need to.
| PCP | Personal Lease | Cash | |
|---|---|---|---|
| Monthly cost | Medium | Lowest | £0 (paid up-front) |
| Deposit | 10–20% | 1–9 months | 100% |
| You own it? | Optional (balloon payment) | No | Yes |
| Mileage limits | Yes | Yes | No |
| Best for | Want option to buy | Lowest monthly + flexibility | High mileage / long-term keep |
You pay a deposit, then monthly payments for 2–4 years. At the end you can: (1) hand the car back, (2) pay a balloon payment to keep it, or (3) trade it in. Best if you might want to keep the car but want flexibility.
You pay an initial rental (deposit) plus fixed monthly payments. At the end, you simply hand the car back — no balloon, no buy-out. Best if you want the lowest monthly cost and never plan to own. This is what the current 24-month / 1-month-deposit offer uses.
You pay the full price up-front. No interest, no contract, no mileage limits — but you take 100% of the depreciation hit. EV depreciation is currently steeper than ICE cars, which makes cash purchase the riskiest option for a Model 3 right now.
For most people in 2026, a short personal lease is the best Model 3 deal: low entry cost, no depreciation risk, and you can upgrade to newer battery / charging tech in 24 months. The current referral-linked offer (24 months, 1-month deposit, 10,000 miles/year, plus 650 free Supercharging miles) is one of the strongest examples of this.
24-month term. 1-month deposit. 10,000 miles a year. Use the official referral link below.
Open the Tesla referral link →https://tesla.com/referral/sam236550