VinFast has officially delivered cars in the United States, albeit only 999 of them, and now it's time to find customers by offering good deals.

The company's first model in the US, the 2023 VinFast VF 8, now has a two-year lease special to attract first-time owners to the brand. VinFast has priced the base VF 8 City Edition Eco at $599 per month for 24 months.

This lease deal is based on a $55,500 MSRP with 10,000 miles per year, a $3,000 City Edition discount, and $5,774 due at signing. We figured the best way to measure whether this is a good deal would be to compare it with the most popular EV on sale today, the 2023 Tesla Model Y.

Tesla's website makes it extremely easy to match VinFast's lease terms to calculate an equivalent price. Calculating for the same lease price, annual mileage, and the downpayment (including Tesla's mandatory $1,200 delivery fee), a Model Y Long Range with no options would lease for $831 per month, $232 more (per month) than the VinFast. Over the course of the two-year lease, the Tesla would cost $5,568 more to own.

Keep in mind, though, the Model Y and VF 8 are not directly comparable. The VF 8 City Edition comes with an 82 kWh battery pack enabling only a 179-mile range. Dual electric motors produce 349 horsepower, suitable for a 6.5-second 0-62 mph time. The Model Y Long Range has a smaller 81 kWh pack that allows for a 330-mile driving range. It's also more potent with 425 hp and a 4.8-second 0-60 time.

The lease is also more expensive on the Tesla because it's a more expensive car. A base Model Y rings in at $65,990 compared to the VF 8's $55,500. The Tesla seems like it's worth the extra $232 per month.

The comparison could be better for VinFast when looking at the VF 8 City Edition Plus. This model bumps the output up to 402 hp and drops the 0-60 time to 5.3 seconds, meaning it's still down on the Tesla.

Based on a $62,500 MSRP, $6,789 down at signing, and with the time/mileage, the payment comes out to $699 per month. The more powerful VF 8 is only $3,490 less than the Model Y, and with the same amount down, the Tesla would only cost $87 more to lease at $786 per month. For the superior range and performance, the Tesla is a no-brainer.

We tried to look for a more favorable comparison like the Toyota bZ4X, which offers a 36-month lease for the XLE trim ($42,000 MSRP) with a $777 monthly payment assuming $3,427 down. A three-year lease may not be directly comparable (it also includes 12,000 miles per year), but the Toyota averages out to $10,500 per year (down payment included) compared to $10,075 for the VF 8 City Edition or $11,782 for the Plus.