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2015 P85DI Lease Takeover - $770 payment

Discussion in 'Tesla for Sale' started by Mike K, Jul 25, 2017.

  1. Mike K

    Mike K Member

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    Just kind of weighing my options here. I got this car when Tesla was dumping all their service loaners at the end of Q3 2016. It's a fully loaded Pearl white P85D/ Insane with all options but air suspension and rear facing seats. Sitting on the 19" wheels which were my preference over the troublesome 21's.

    This is my third S and it was sort of a crime of opportunity as I could never justify purchasing one of these cars for $100,000+. So my plan was always to enjoy the lease and then move into a lower spec'd S like an 90D at the end of the lease term. Now that the 75Ds have more range than the P85D, faster acceleration than they used to and a slew of new standard features that used to be optional, I find myself wondering if I should transfer my lease and move into my forever S now.

    That said, the lease payment is $770 a month all in with taxes. The lease expires September of 2018 but word on the street is that Tesla is extending leases for 6 months. I would be looking for a cash payment of $5000 up front and you would cover whatever fees Tesla charges for the lease transfer. I believe it's a few hundred dollars. The car has 18,500 miles on it of 26,050 total miles able to be driven. So you're left with 539 miles a month that can be driven. Tesla will charge you .25 per mile if you go over. It was always my intent (and still is) to go over because paying for the excess miles after the lease expired was cheaper than paying for them in advance for whatever strange reason.

    So basically the deal is $5000 down, 539 miles a month you can drive without incurring extra fees, and a $770/ month payment with tax included. If this sounds enticing to you, let me know.

    I'm not looking for offers and I'm not looking for a discussion on my asking price. Seriously. If you think the offer is absurd I'm not forcing you to take it. This is merely the price at which it makes sense for me to exit the vehicle now versus hanging on to it until the end of the lease. Looking at other lease takeovers that are available, the total out of pocket cost (even if you're driving extra miles) appears to be well below other cars but I understand some people won't be able to get by the mileage limitations or the money down. And I understand that so please don't offer up a dissertation on pricing.
     
  2. tskguy

    tskguy Member

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    Do you know what the residual will be at the end of the lease??
     
  3. hmmm

    hmmm Member

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    FYI, link to lease extension option:

    Lease-End Options

    I am debating doing the same thing you're doing, ie trade down to a 75 or ride my P90DL lease until the very end by adding 6 months. Extending my lease is way too tempting though so I think i'll just wait and see what becomes available 18 months for now. If you end up transferring your lease, someone is going to get a nice deal.

    @tskguy: In general and w/o knowing the specifics of OP's lease, these cars (ie end of Q3 '16 fire sale) have (very) high residuals, ie you could find a better and cheaper car easily. YMMV.
     
  4. tskguy

    tskguy Member

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    That what I kind of figured... Thanks for the information.
     
  5. Mike K

    Mike K Member

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    That's kind of where I'm at right now too. The only thing the S is currently lacking is a decent interior so I've gone back and forth about holding on to it versus just hanging tight and seeing what Volvo's interior guy does to the S. I can't think of anything else I really want the car to have other than an interior more in line with Audi and Mercedes.

    Yeah the residuals on these cars suck. I think most of the P85DL's on the market are cheaper now than my residual will be in 13 months.

    For those that sent me PM's I will get back to you. I'm in the office right now but I'll shoot out responses tonight.
     
  6. ACA Man

    ACA Man Member

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    Can one buy it outright?
     
  7. Sig72

    Sig72 Member

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    Can you send me the exact configuration/spec sheet on this vehicle? Also, if one were to extend, do you know what the per month mileage allowances are then?
     
  8. Mike K

    Mike K Member

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    You could but residuals on it are higher than the market value of a P85D. It's not worth buying out these lease special cars.

    From what I understand it just pushes your terms forward another 6 months. So your payment continues as well as your mileage allotment per year divided by 2.

    That said, I decided to keep the car. I ran the numbers and it just doesn't make sense to sell it and buy a new one right now, especially since the new ones will likely be $15,000 - $20,000 cheaper used a year from now than they are now. So I'm gaining $5000 now but would be paying more for a brand new car when I generally don't buy brand new cars because of depreciation.

    Sorry to tease everyone with this.
     

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