Model S M.D.
Ludicrous Radiologist
Ditto here, Aaron was very helpful when I was considering an inventory P90DL. The most responsive and helpful OA I've worked with.
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Snagged a P90D Inventory car for $700/mnth on the new 24 month lease
- Thread starter SoCal Jimmy
- Start date
No worries. I wasn't complaining and it's not those that used Aaron either.
On a side note, there's been a couple cars this week, so while it's far and in between, you still have a chance to grab something.
Zaphod
Galaxy President (former)
Your situation has nothing to do with Tesla and how they have the lease structured, it is your state's taxes on a lease that makes it not tolerable. Other manufacturers get around it through "credits" or some other way. TX taxes are the same way and there are a few handful of others as well.
BUT I got a zero down Lexus lease in GA. So tesla could configure certain states different to help.
hmmm
Member
Zaphod
Galaxy President (former)
As I said, other manufacturers get around certain states taxes on leases with "credits" or some other hand-waving hocus-pocus "tricks" but remember Tesla is still a fairly niche manufacturer and either can't or won't be able to do similar things. At least not anytime soon.
Believe me, I feel your pain, TX is the same way. I would have been all over the 2 year leases until the Model 3 comes out, but having to pay about $5k in taxes for that 2 years of use is not a wise financial move.
Well I put in a deposit on one that your OA found for me so if it goes through expect another referral credit!
n2mb_racing
Active Member
Is the total cost over 24 months similar? Should be within about $100 or so...
I went with the absolute minimum downpayment. I think I can get better investment returns and have less money at risk on the lease.
n2mb_racing
Active Member
Speaking of which, what is everyone doing for gap coverage? State farm told me I have to get it from Tesla, not them.
All leases in the state of California have GAP included. Not sure for other states
Mine was similar at $700 a month with 8k-ish down and opted for the $5k down and took the higher payment. I prefer the cash in my pocket in case you total the car
n2mb_racing
Active Member
n2mb_racing
Active Member
Got this for GAP coverage:
"The lease does not include GAP insurance, but it does have GAP protection included. If the vehicle is totaled, and we receive an insurance settlement under your policy that complies with the insurance coverage required with the lease, you will not owe an early end liability. If the settlement is less than the adjusted lease balance, you will owe the difference (GAP) up to the amount of your insurance deductible plus any other amounts that have not been paid at the time of the settlement (monthly payments already due, any fees and taxes at lease end). We will credit you for any excess of the insurance settlement over the adjusted lease balance."
I'm not sure if that makes me comfortable enough.... Thoughts?
"The lease does not include GAP insurance, but it does have GAP protection included. If the vehicle is totaled, and we receive an insurance settlement under your policy that complies with the insurance coverage required with the lease, you will not owe an early end liability. If the settlement is less than the adjusted lease balance, you will owe the difference (GAP) up to the amount of your insurance deductible plus any other amounts that have not been paid at the time of the settlement (monthly payments already due, any fees and taxes at lease end). We will credit you for any excess of the insurance settlement over the adjusted lease balance."
I'm not sure if that makes me comfortable enough.... Thoughts?
n2mb_racing
Active Member
Yup, only difference is the interest. I'd go with the lower amount. Less at risk if there is a total loss and you get to invest the money elsewhere.
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