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2015 MS70 $838/mo

Discussion in 'Tesla for Sale' started by techdoc, Jan 28, 2017.

  1. techdoc

    techdoc Member

    Joined:
    Aug 18, 2015
    Messages:
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    Location:
    Southern California
    I'm looking to transfer my Model S70 lease. The car is currently in the Atlanta area. There are 19 months remaining so it would be a good way to improve your spot in line if you have a M3 reservation and the timing should be just about right. It's a 2015 with the following options. It's only $838 a month due to the fact that I paid down the cap fairly considerably (made sense at the time).

    MS70
    Obsidian black
    Grey leather (not next gen seats)
    Auto pilot
    Hi-Fi sound
    Pano Roof
    T-Sportline wheels
    3M Crystalline tint (medium, 4 side windows)
    3M Color stable tint (dark, back window - used due to known issue with purple color using Crystalline on the rear window)

    I'd like to get a reasonably small amount of money out of it given it has $8000 in cap paid down, plus about $2,000 in wheels and tint. The wheels can be sold upon lease return. Here is the posting with pictures.

    2015 Tesla Model S 70D lease $838.00 - Marietta, Georgia 30068
     
  2. Kcharwood

    Kcharwood Member

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    Location:
    Austin, TX
    I might be interested here. How much cap do you want to recover? What's the reason for getting out of the lease?
     
  3. Buddyroe

    Buddyroe Member

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    Does the $838 include tax? Is this one of the 70s that can be upgraded to a 75?
     
  4. activejustin

    activejustin Member

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    Great options list and wheels. Do you have any interior photos?
     
  5. activejustin

    activejustin Member

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    #5 activejustin, Jan 29, 2017
    Last edited: Jan 29, 2017
    Ok I am out, just remembered the slimy auto tax situation here in Georgia is. Similar to America before the revolution. Kind of sad to be required to pay a 7% tax on the higher of the full retail used value of a car or the purchase price when you are just leasing for 19 months.

    I would be paying around $239 a month additional in tax, so this would not work for me.

    I have paid 17% tax on my current vehicle so far when I bought out the lease. When you include the initial tax and the tax at the full retail value, not the purchase price, when I bought out the leased vehicle. Double taxation is never a good thing.

    The tax is based on the higher of the sale price or the blue book price, which on the cars I am looking at usually many thousands of dollars higher than the actual sales price.
     
  6. techdoc

    techdoc Member

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    I'm somewhat flexible on the money I get back. Depending on where you are and the costs associated with you taking on the car, Is want to find a reasonable number that is a good deal for you but which perhaps gets me something toward a short term solution while I wait for my Model 3.

    I'm looking to transfer the lease due to the exact issue the poster below writes about. I moved to Georgia from California and Georgia requires a one time 7% tax to register a new car or a car brought in from out of state. In my case, with a late fee that I would now owe as well, I'm looking at around $6,000 for a lease that I only have 19 months left on. The numbers don't make sense in my case and I also commute so much less now than in California, I really just need a decent stop gap until my M3 reservation comes up.
     
  7. techdoc

    techdoc Member

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    I'll upload a few to lease trader tomorrow. Very clean, no issues. Grey on black.
     

    Attached Files:

  8. Kcharwood

    Kcharwood Member

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    Hmmm never considered the tax impact. Does the original lease have California taxes rolled into it? Not sure what the impact would be here in Texas.
     
  9. techdoc

    techdoc Member

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    $838 is the total monthly payment. It was purchased before the 75 came out - September 2015. I don't know if it can be upgraded but it gets 213 miles to a 90% charge which is much more than I have ever needed. I drove it from Los Angeles to Portland through Superchargers and it was no sweat.
     
  10. techdoc

    techdoc Member

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    Yep!! Most states aren't like this, so I assume whoever takes it over will be from another state. The registration in California would have been around $500-600.


     
  11. techdoc

    techdoc Member

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    Yes, there are sales tax on that number. $62 a month of the payment is tax. When I moved to Georgia that didn't go away so I assume it's baked in. It's a line item in my lease document.
     
  12. Buddyroe

    Buddyroe Member

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    So I assume the car is now registered in Georgia? That is big for me since I am in Georgia also. I would think the tax portion of the payment would remain the same. I wonder how easy it is to find that out beforehand because I would hate to take over the lease and find out tax portion was another $50 or $100 a month.
     
  13. dobie

    dobie New Member

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    I live in Atlanta and am interested in your car. We have a vacation home in Florida, so I might be able to just insure and register it there to get around this tax issue. What is the residual on the lease (how much would the buyout be at the end of the lease)?
     
  14. activejustin

    activejustin Member

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    What techdoc has confirmed is that you would pay $6000 in tax divided by 19 months or $315 a month in tax if you transferred the lease here in Georgia. Not too many people I know would be willing to make 40% of their car payment in tax if they kept it in Georgia. His car was literally exactly what I was looking for, but I cannot afford $315 a month in tax in addition to the lease payments quoted above.

    BTW if you ended up buying the car at the end of the lease in 19 months, they would make you pay the same 7% of the book value in tax again... Like I said brutal auto tax regime in Georgia. Mainly setup to benefit the auto dealership model.

    So he either has to find someone willing to buyout at the residual or more likely transfer the lease to someone outside of Georgia to most other states where they have normal sales tax laws.
     
  15. Buddyroe

    Buddyroe Member

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    Just my dang luck!
     
  16. techdoc

    techdoc Member

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    It is not registered in Georgia. Even if it were, that would not help you. Per the new(ish) law, every time the title changes the car's value is assessed and the new title holder pays 7% of that value. If I registered it today, paid, and transferred it to you tomorrow, GA would get 14% of the value of the car. Even more insane, if I register it today, then decide to buy it at the end of the lease, I'll pay another 7% 19 months from now. Bottom line, don't assume a lease in GA. Even a new lease is a fairly bad idea because you pay the full 7% of the new car value and only have it 36 months. At the 80K sticker on this car, that amounts to $5,600 spread over 36 mos. which increases your monthly cost by about $156 a month.
     
  17. techdoc

    techdoc Member

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    The residual is 49,334. If you're interested, email me at [email protected].
     
  18. wanaxnow

    wanaxnow Member

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    Is this still available?
     
  19. AtlantaRED

    AtlantaRED New Member

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    Great info guys. I am in GA as well and wish I had an address in any other state without such ridiculous tax laws. But out of curiosity, how does this law benefit the dealership more? Are they able to provide a lower tax rate? Thanks.
     

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