In low-dimensional materials, charge-density-waves (CDWs) emerge from the subtle interplay between electronic and lattice degrees of freedom (DoFs), often coexisting with or competing with other collective and topological phases. Thus, understanding the coupling between electronic instabilities and lattice dynamics remains essential for uncovering CDW formation mechanisms beyond the simple Peierls paradigm, particularly in materials harboring multiple CDWs. NbTe4, a quasi-one-dimensional transition-metal telluride with multiple reported incommensurate CDW ordering having linear Nb-d and Te-p bands across the Fermi level, provides an ideal platform to investigate the roles of the Fermi surface, electron–phonon coupling, and lattice dynamics. Using electronic structure, electron-phonon coupling (EPC), and momentum-resolved Lindhard susceptibility χ0(q) calculations, we find that the real and imaginary parts of χ0(q), i.e., Re{χ0(q)} and Im{χ0(q)}, possess a quasi-one-dimensional ridgelike feature with weak divergences at three CDW wave vectors (qCDW) that indicate the possibility of Fermi surface nesting and electronic instability. The phonon simulations further show that all three qCDW harbor lattice instabilities. However, a detailed examination of phonons and EPC simulations shows that weak divergences at all qCDW in χ0(q) are insufficient to lead to CDW instability by themselves; instead, they suggest a cooperative interplay between wavevector-dependent EPC and nesting to drive the CDW. These findings highlight the complex interplay between electronic and lattice DoFs in driving multiple CDWs in low-dimensional tellurides.