I built out a similar car to what I have right now (AWD, blue/white with 19” wheels with FSD) and the monthly payments including the $3k down were $900 per month. I get that I don’t “own” the vehicle but I don’t care about that. Really digging the pricing to get into leasing. Waiting for my father’s estate to come through before I absolutely decide. I'm certain this hobby with both continue and grow. An unofficial forum of owners and enthusiasts. I pay less than $90 per month more and I retain equity in my car. You can purchase your Model S or Model X at the end of the lease for its residual value, plus remaining amounts owed under the leases, taxes, official fees, etc. AP2.0 made AP1.0 cars obsolete. You can compare Model 3 leasing deals and then tailor the deal to suit you best, by altering the length of lease, the amount of initial payment and your annual mileage. Paint? Timing and lease deal specifics aren't yet known, but it could launch within the next few weeks. I leased once. A Tesla is a good car to own anyways since it gets better over time with OTA updates, which is not something you can say about most other cars. I think you are right the MSRP is pulled off of the purchase collum of the print out. Tesla Model 3 Lease Deals You Searched For. Press question mark to learn the rest of the keyboard shortcuts. And all our Model 3 lease cars come with free delivery. The same also applies to disposition (turn-in) fees -- those are just a tool to push you into leasing another vehicle from the same manufacturer (which is why they are always willing to waive the fee if you lease a new vehicle from them at the end of your term). My monthly payment is just shy of $1,000 so let’s call it $200 more per month than the lease on an SR+ with FSD. Can someone explain how this makes any sense? I was initially banking on leasing a Model 3 if the monthly payments were going to be competitive with what you can lease a BMW 3 Series of Audi A4 for. Then own it. The flip side here is that Tesla may be artificially deflating the residual value to increase the lease payments and, on top of that, they're not giving you the option to buy-out the lease at the artificially deflated residual value like a traditional lease would. This. Let’s assume Tesla can accomplish everything they’ve said in the autonomy day presentation and they do the whole robotaxi thing and cars can drive themselves for revenue like Uber/Lyft. I like having a new car, and having someone else “own” (see take responsibility for problems with) it. At least that's what they told me at the local show room. It’s an extra bad lease considering that Tesla gets the federal credit lol. There's no residual on Model Y leases you must return to them after the term. Also, there’s a big cost saving leasing vs. loan/purchasing. Watch later. I lease a Dodge Charger RT currently for $418/month. As it turns out, the Tesla Model 3 is able to retain its value over five times better than other EVs in the market. Available in three versions, including the Standard Plus with a range of 278 miles, the Long Range at 360 miles and the Performance Edition, which combines a 352 range with a 0-60mph time of 3.1 seconds, this pure electric plug-in car is unlike any other. Tesla (formerly Tesla Motors) is an energy + technology company based in Palo Alto, California. See r/TeslaLounge for laid back discussion, and more photos! Looks like you're using new Reddit on an old browser. Tesla had lowered its Model 3 lease price by over $2,000 over the 36 month lease with higher down payment but lower payments. Their mission is to accelerate the world's transition to sustainable energy. (I like to know exactly what I am paying every month when I shop for cars). It was a $39,500 MSRP car. Currently, there isn't any way to get this equipment outside of a totaled Tesla. Press J to jump to the feed. If you just love it as is and know you're going to give it up in 3 years for a newer model or even go with a totally different car then lease it. Yes but Musk said over the weekend that the cars will be appreciating assets. I'm usually a leaser too but this one gives you zero opportunity to squeeze any equity out near the end of the lease like a normal lease does - sometimes it's enough equity for another downpayment on a new lease. Starting around 2015, all Teslas are now better than when they were purchased. On July 1st, another $1875 of the FIT credit expired for Tesla. Thinking over anything - if it’s viable - I’m leaning toward buying. By Luke John Smith. Tesla Model 3 was #5 among the top ten personal lease inquiries in the UK In September. No. If the Model 3 depreciates fast enough (and a low residual suggests Tesla thinks this is likely) you could be negative equity for four years or more. If the Model 3 depreciates fast enough (and a low residual suggests Tesla thinks this is likely) you could be negative equity for four years or more. I paid $66k for my AWD fully loaded and put basically nothing down at 1.99%. Never again unless I had a business. This is a loaded question that will get you answers from 2 types of drivers. Sometimes shareholder. The lease/buy game comes down how much you value your own effort in buying selling and the company's ability to accurately peg the residual value of the car. You paid less than if you had bought it and sold it.There are three factors that may potentially make the lease/buy equation for a Tesla different than other cars. I guess if you don't drive much and are happy to always have a car payment for the rest of your life and want to replace vehicles frequently, it's a thing? You can't accept anyone's opinion unless their financial situation is exactly like yours - and since it's called "personal" financing, that's exactly what it is. This also helps keep the customer underwater so that they have a more difficult time getting out of their lease without BMW offering to pull them ahead to their next BMW. According to Leasing.com, personal car leasing in general and electrified car leasing, in particular, is becoming a new trend. Most people can get a nice $40k car for $500 a month zero down. Use the Tesla loan calculator to estimate monthly payments based on down payment, vehicle model, mileage and lending terms. NEW reports have revealed some interesting statistics about the residual value of the new Tesla Model 3 in comparison to its rivals. Tesla Model 3 New Search Save this search ... 2020 Tesla Model 3 Style: Performance Location: San Francisco,CA Exterior Color: Blue Interior Color: White Miles per month: 1043. Without a financing partner, Tesla has to float the residual value of the car themselves (the $13,000 difference between AP and lease value + $10,000 in profit). I can kind of understand leasing with autopilot, but I'd never lease with Full Self Driving. These prices don't show the value. Just FYI residuals from BMW and Mercedes are what’s considered as subsidized by the automaker, meaning they are inflated to bring down the lease payments. Model 3 will not be available for purchase at the end of the lease. 5. I want to get away from “big car”, crazy gas prices, and into tech. The lease/buy game comes down how much you value your own effort in buying selling and the company's ability to accurately peg the residual value of the car. I dunno. Leasing might not be "worth" it to someone who would rather own the car long term, but not "worth" it to someone who loves always driving the latest model (every single hardware/design/styling and software update) every 3 years, always being under warranty, and simply can AFFORD to just keep switching cars every few years. I test drove a Model 3 a few days ago. If you have the means to do the loan payments, do that. You’re almost certainly better off just buying the car and selling it in two or three years. It really depends what YOU want out of a car. Tesla (formerly Tesla Motors) is an energy + technology company based in Palo Alto, California. BMW and Mercedes are known for subsidizing their leases as a tactic to increase sales. As they're not being sold, they see some of the best (if not the best) resale values. Residual: Do you have any other options? The minimum amount due at signing is $5149.57, which includes my negative equity on the trade-in, and works out to $879.15/mo for 36mo/12k mile lease... so I'll save about $10/mo compared to what I pay now on my financed Model 3. The EV marketplace has come a long way in the last 6 years. Tesla increased the guaranteed residual value of its electric Model S sedan to 50 percent after its lease-to-own period of three years. Tesla is aggressive in introducing new hardware technology. Tap to unmute. Is it worth it? If this continues, it will greatly increase the value of 10/15 year old Teslas, which will in turn increase the value of all used Teslas. OTA updates allow Teslas to improve over time. Press question mark to learn the rest of the keyboard shortcuts. Read more here.) They produce electric vehicles (with a heavy focus on autonomy), batteries, and energy/solar products for the grid. At least I'll have some equity in the car after I pay it off. How have you found the 3? Comparatively, the Model 3, their less expensive, entry-level model, requires a $4,500 down payment. SR w/Autopilot: https://imgur.com/kCqEiHa, down 2500(online order fee) + 2618 = 5118, SR+ w/Autopilot: https://imgur.com/aCquwSn, down 2500(online order fee) + 2656 = 5156, SR+ w/Autopilot & FSD: https://imgur.com/n3DndeN, down 2500(online order fee) + 2782 = 5282. If it turns out additional cameras or other hardware that cannot be retrofitted are required for a killer feature like level 4 autonomy, it will greatly decrease the demand and value of current Teslas, even if you have FSD. All other things being equal, we would expect the monthly lease cost for the Model 3 … Wheels? An unofficial forum of owners and enthusiasts. Hobbyists are putting Tesla drivetrains into classic cars. Info. 1.) To me a car is an appliance. Kelley Blue Book is currently tracking the Model 3 to retain 70% of its value over the first three years of ownership, and 50% over five years. Most likely going to make a decision this week. I’ve leased for some time. It's not entirely clear what Tesla's ultimate end-game is with these leasing options other than they obviously do not intend to offer a competitive lease product on the Model 3. Leasing is for someone who likes to have a car 2-3 years. I will edit this when I get home. Buy one. You lease for three years, and you have to turn the vehicle over to Tesla at the end. I hate having to consider maintaining and fixing the car. I still don't understand why people lease. If you leased a Model 3 from Tesla between April 11, 2019 and May 2, 2019, these were the terms: 1. If I’m going to go tech, and stay cutting edge it makes sense to replace the vehicle and very few years. But everything points to Tesla not being able to get a financing partner, especially not after destroying the residual value of used cars by slashing prices on 2/28. Leasing my current car. Here's how the math pans out: Coming to the end of my Chevy Cruze lease in the not too distant future. What’s your payment difference lease vs buy? Madness! Tesla's lease is money down the drain with no options to purchase or buy out the lease. ;), New comments cannot be posted and votes cannot be cast, More posts from the teslamotors community. I used to like leases because of the new tech and redesign, but with automatic updates it’s not such a big deal anymore as long as you take care of the car. Model 3 Lease Comparision. You're entirely correct. Is it just me or does that sound like a terrible deal? I plan to get the Tesla Model 3 when it becomes available in 2017 which will cost about the same as the original LEAF. Thoughts? EDIT: Taking out residual calculation because I am not doing it right, added actual printouts (which has the residual in it). Put $0 down and $0 first month's payment (literally paid nothing to drive off the lot with the car). The Model 3 may be Tesla’s most affordable vehicle, but it is also one of the most futuristic, forward-thinking EVs on the market. Do you like personalizing it with your own modifications? Just do what makes you happy and go with what you can afford. Honest question, why are you looking to lease as opposed to purchasing? Interest 6.5% | Money Factor 0.002708 | 10k mi/yr. PUBLISHED: 11:10, Wed, Aug 23, 2017 BTW adding autopilot to SR is $3000 so total $38000. No matter what you decide, it's a personal decision. It would make more sense to take a loan out and own the car at the end of it all and then just send it out and do the robotaxi thing while you lease out Tesla’s new thing. Why leasing a Tesla Model 3 could be a $200,000 mistake. Tesla Model 3 owners love driving their cars! Heading off to test drive the model 3 tomorrow (I test drove the S years ago).I’m really considering a model 3 lease. Leases hurt Tesla's cashflow in the short term. See r/TeslaLounge for laid back discussion, and more photos! I can think of three reasons off the top of my head: (1) you want a new car every few years; (2) it is going to be used predominantly for business so you get the write off; or (3) you need the lower monthly payment and don't care about "paying off" a car. For $88,490, the 670-horsepower Long Range model travels 360 miles on a full charge. I'm just going to go the loan route on a 4 or 5 year loan now for the Model 3. Added images, have a look and let me know how the number check out. The lease will have more value at three years for the guy who wants to trade for a different car, he won't have to buy his way out of a loan. Stormtrooper Model 3. Lease: ($808 x 36 months) + 6503 due at signing = $35,591 Loan: ($969 x 36 months) + 5000 down = $39,884 Definitely much closer in price than I thought... still slightly cheaper. The original and largest Tesla community on Reddit! Sheet1 Monthly Lease Calculation Capitalized Cost,38990,38990 Downpayment,3500,0 Residual (58% + 1875 federal incentive),24489.2,24489.2 Number of Months,36,36 Interest Rate,4.25,4.25 Money … Tesla could reassure its stakeholders it is a good long-term asset by spiking its lease numbers in the near-term. The current residual value for a 36-month, 10,000 mile-per-year lease on Model S through Tesla Financial Services (US Bank) is 60%. If the quoted residual value on the lease is higher than the actual value of the car after the lease is up, you win. (The residual value is one of the variables that determines the cost of a lease; a higher residual value results in a lower depreciation expense and therefore lower payments. Why leasing a Tesla Model 3 could be a $200,000 mistake - YouTube. Lease customers can enjoy a range of 360 miles between charges while the Model 3 - which sits besides the Model S and the Model X in the Tesla line-up - also has zero Co2 emissions, which means those looking for a company car will pay just 1% Benefit in Kind tax for the year 2021/22. The 3 is awesome. Only if you want a new car every 3 years. I much prefer that a lease is essentially someone else’s problem - it’s on the dealer to take care of the vehicle. Copy link. Shopping. 1. Although it offers a version of the Model 3 for under $40,000, Tesla is regarded as a luxury brand. Share. Totaled Teslas are worth $15k+ as long as the battery and motor are functional. If the quoted residual value on the lease is higher than the actual value of the car after the lease is up, you win. Model S Model 3 It was a good deal back in 2016 when I got it because I was just out of college, had no student loan debt, and was more than happy with the payment amount and no upfront cost. The lease will have more value at three years for the guy who wants to trade for a different car, he won't have to buy his way out of a loan. I’ve owned “beaters” before and I hate wondering about the car. Personal. Like any breathing, red-blooded male I’d like to get into a Tesla. 2.) carwow helps you find the best Tesla Model 3 lease deals from from approved suppliers. So the actual down payment counting that credit is actually sky high. This seems to have an affect of inflating used car values. People who lease vs. people who own. If you look at the order page and click lease, then details you'll see this in the last paragraph: You forgo the option to buy your car at the end of the lease and must return it to Tesla after the lease term. The Model S and Model X, their two more expensive models available for lease, require a $7,500 down payment, as well as a $695 acquisition fee, and the first month lease payment. New comments cannot be posted and votes cannot be cast, More posts from the teslamotors community. These are all due when picking up your new Tesla. Of course, I need an appliance that suits my needs and my pocket. At these prices, it just makes no financial sense to lease. But you may be correct about it not making that much of a difference. It is a terrible deal...6.5% interest and a crap residual. They produce electric vehicles (with a heavy focus on autonomy), batteries, and energy/solar products for the grid. Of course! We use cookies on our websites for a number of purposes, including analytics and performance, functionality and advertising. Those “all in” numbers seem crazy to me. You're literally throwing $23,000+ away for something you don't own at the end. You're assuming that "retain equity" is a positive value. I went to a local (90503 CA) dealership today to get these numbers, everything here INCLUDES tax and fees. There’s no way the Model S is cost effective for me - the model 3, however seems to be. The prices should be cheaper. Their mission is to accelerate the world's transition to sustainable energy. 3.) Data from Tesla (leasing calculator) shows that you can lease Model S75D with an annual mileage cap of 10,000 by paying $946 every month for three … Tesla offers the 2021 Model X in two versions, both using front and rear motors for all-wheel drive. In addition, the carmaker’s Model Y leasing terms make the brand considerably more accessible. The original and largest Tesla community on Reddit! Tesla’s own residual rates (the amount the vehicle is worth at the end of the lease) for a 36-month lease term are 54% for … Tesla is working on a leasing program for its Model 3 electric sedan. Kelley Blue Book projects a resale value of 69.3% at 36 months and 48.7% at 60 months for Model 3. Do you have a sentimental attachment to ownership of a vehicle? associated with the purchase. See all Tesla lease deals. Review full terms in your lease agreement. Is the price on the site really what you pay? The Model 3 will provide the ability for coast to coast travel, not just regional travel and will come with a whole host of advanced features. Who knows when you might get to use it, and at the end you can't buy-out the lease. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. Maybe the high monthly lease rate is to reduce the number of people who lease compare to buy. Shouldn't the residual be at least 100%? This is further compounded in states where the leasing consumer is required to pay tax on the full MSRP of the car (which would typically provide an off-set in the event you exercise your option to buy the vehicle at the end of the lease which, as we all know, is not an option on these new leases). I understand for "business" use, but for personal use I don't see the appeal unless it's a ridiculous promotional rate. I’m in the same predicament.
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