So about 3 weeks ago, my Porsche Macan S got t-boned and totalled - I had promised myself that it was the last ICE I was going to buy, and had planned to drive it a few more years before jumping on tot the EV bandwagon but best laid laid plans of mice and men and all that ...
So was looking at the CPO (used) market, had my eyes on a 2016 Model X, 90D, has all the features I wanted (6 seats, Air suspension, premium, subzero etc - the P, and red calipres are just a bonus) for a cool ~ $82K (initial sale price was 133K)
My plan had been to put down what i was getting for the Macan (about 40K) and just pay off the car in 60 months, at around ~$750/month
In fact, have even put money down on the car etc
But today I was messing around with the Tesla website, and spec'd out a 100D the way I would like one and it came to 113K
And looking at the lease, if I put down 10K, I end up with a lease payment of ~1.5K/month
So at the end of the 3 years , I would have put 69K into the car with no equity.
With the CPO, I have put down 67K over the same time period, I still owe about 14K but even if the car is only worth 30K (36% current value) at end of the 3 years and I decide to sell, I still come out ahead ie with equity to put in a new car
Heck, I can make a similar argument for buying new
Am I missing something but aside from being able to write off a lease as a business expense (which I can't), a lease almost makes no sense
I await your greater wisdoms
So was looking at the CPO (used) market, had my eyes on a 2016 Model X, 90D, has all the features I wanted (6 seats, Air suspension, premium, subzero etc - the P, and red calipres are just a bonus) for a cool ~ $82K (initial sale price was 133K)
My plan had been to put down what i was getting for the Macan (about 40K) and just pay off the car in 60 months, at around ~$750/month
In fact, have even put money down on the car etc
But today I was messing around with the Tesla website, and spec'd out a 100D the way I would like one and it came to 113K
And looking at the lease, if I put down 10K, I end up with a lease payment of ~1.5K/month
So at the end of the 3 years , I would have put 69K into the car with no equity.
With the CPO, I have put down 67K over the same time period, I still owe about 14K but even if the car is only worth 30K (36% current value) at end of the 3 years and I decide to sell, I still come out ahead ie with equity to put in a new car
Heck, I can make a similar argument for buying new
Am I missing something but aside from being able to write off a lease as a business expense (which I can't), a lease almost makes no sense
I await your greater wisdoms
