Tesla has changed its policy to now not allow anyone to buy their car after their lease is over as used car prices are skyrocketing to new records. Back in 2019, Tesla announced that it wouldn’t let people who are leasing a Model 3 buy it from the company at the end of their lease, […]
And Tesla yet again, makes another decision that hurts potential customers. Just about every other car company on the planet allows you to buy a car you lease. Tesla prevented it on the Model 3 and Y years ago because they thought cars would be autonomous taxis by now. Another wishful thinking concept, just as all the people who paid $10,000 for FSD that never got delivered before their lease ended. Now they're extending it to all Tesla's.
Leases have always been attractive because it gives you options to turn the car in or buy it if you so choose. Now, it's noting more than renting the car for 3 years.
I know Tesla has more customers that they can handle right now, so they couldn't care less what the customers think. But, just 2 1/2 years ago, they were begging buyers to purchase their cars. Prices drastically reduced. Sales were minimal, especially on the Model S & X. Clearly, due to very unusual circumstances as a result of the pandemic, parts supply has become limited and manufacturers are struggling to deliver vehicles. That will change. At some point, this demand will balance out again and even turn the other way and the market for new cars will decline. Tesla chooses to go for short term gains rather than longevity. Screw you now, beg for forgiveness later.
Tesla was appealing at the start because they bucked the trend and stigma of the "slimy dealers". But honestly, Tesla has become more slimy with their various tactics over the past several years that dealers are starting to look like priests! I have all the respect in the world for Ford and GM. Both clearly could have jacked up pricing due to the current conditions, but adamantly refused to do so. The fact that you can still buy a Corvette for in the $60,000 range when they could easily get closer $90,000 or $100K for it. Look at the Cadillac Lyric, far more luxury than a Model Y. It wasn't designed to accelerate like a rocket, something that's not important to most buyers anyway, yet is superior to the Tesla in most other ways. They easily could have charged more for it, but haven't.
Tesla instead, takes every opportunity to astronomically jack up pricing for short term gains, feeling that's more important than long term customer respect and satisfaction.
I decided a year ago that my current Tesla would be my last. As much as I love the car, over the past 3+ years, I've lost respect for the company. It had already started three years ago when I struggled to commit to another new Tesla at the time.
While quality levels have improved, for a 10 year old company, they do still have far more quality control issues than they should. The fact that they've been suckering in buyers to pay massive prices up front for software that doesn't exist. They take cars on trade, then remove features that the prior owner paid for, only to add them back and charge the new buyer for the same feature the Monroney sticker said the car already had. Forcing $50,000 to $250,000 deposits for a roadster that was promised years ago. Taking 1,000,000 orders for the Cybertruck only to remove all pricing data so they can not honor the original pricing advertised when the deposits were made. Shutting down people's cars because they don't like something. Now, they effectively only rent you a vehicle for three years. Pay over half the cost to drive it for three years and have no option at the end to purchase the car. I could go on and on and on. Since making my decision due to the approach they went with making the refreshed Model S a glorified Model 3, so many Tesla actions since have convinced me that I'm ready to see if maybe the grass really is greener on the other side. Can always choose to come back. I fully expected in the year since I made my decision, something would change my mind and keep me with them for s tenth year and beyond. But, instead, they just solidified my reasoning.
They're building all these cars to be less user friendly based on the premise that drivers won't be needed. Remember, by now, Uber was supposed to be out of business due to robo Tesla Taxi's taking over. Yet, we're not even remotely close to that happening. We still have to DRIVE THESE CARS. I want a car that's driver friendly for at least as long as I still have to actually drive them. Tesla longer appreciates the customer and says "thanks for the three year lease, now buy another one or go away", you can't pay for the other half of this vehicle you leased because we're going to take the profit a SECOND time rather than let your loyalty to us result in you being able to gain anything from. In additional, they'll say "thanks for paying the additional $10,000 for FSD that we never delivered, now we're going to remove it and charge the new buyer for it again. We hope you enjoyed the dream of having a Full Self Driving car some day, because that's all you got, was the dream that it MIGHT do so. Likewise, they remove the "Ludicrous Option" and charge the next buyer $20,000 to add it to a used car purchase, despite that car having already had that feature.
Even with all that, there was still a small part of me that left the door open to possibly leasing one more vehicle to buy another 2-3 years for the several other EV's to make it to market as they're due to do in that time frame. With this change. There's now absolutely ZERO chance. Maybe if the new monthly "RENTAL" price is 40-50% lower than a typical monthly lease payment. Then it might make sense. But otherwise, assuming the lease prices will still be calculated the same as they are now. Likely higher due to interest rates rising.
Tesla has found every possible way to cut me off at the knees. Much of it is related to my own personal use needs. Started off as a nearly perfect vehicle for my use. Now, no chance I could live with the refreshed $110,000 Model S. That yoke, shifter controls, lack of blinker stalks, lack of a true horn button, etc, etc, are al items I just can't get on board with as long as these cars still REQUIRE DRIVERS.
Will be interesting to see where they are three years from now when all of this has flipped back around. Now they'll be stuck with a bunch of lease returns and nobody to sell them to. So sorry. Such endless potential. They still built the most incredible vehicles on the planet, great for their intent to be driverless cars, if they ever get there, but unfortunately, the company and the vehicle no longer satisfy my personal use needs from a vehicle. At this pace, within three years, they're likely to get surpassed by the major manufactures. Its been a fun ride, for the most part, but it's officially coming to an end here within the next two months.