Any experience with third party for leasing?

[xsi123]

Tesla sales rep recommended Xcelerate. Anyone here has done any work with them? I cannot find any info / reviews.

If yes, how was the experience?

 

[jvmoore1]

were you able to find any info out about the company? i am curious about them as well

 

[xsi123]

were you able to find any info out about the company? i am curious about them as well

Yes. Their model is a bit weird. They set a residual value in order to calculate the payments but at the end of the lease they sell the car and depending on how much they sell it for, you either pay more, if they sell it low, or you get money back if they sell it high. For this reason they don't care about how many miles you drive.

Basically, zero risk for them while you are a bit on the dark without knowing what is going to happen at the end of the lease.

I would say, you are better off buying the car and sell it whenever you want (instead of leasing with them).

I would be interested to hear from someone who did business with them. Maybe there are benefits that I don't see.

 

[patrick40363]

That is an open end lease. Stay away.

 

[Whistle2Whine]

They actually DO do closed-end leases as well. There were the people I was going with, and had already gotten approved for, when I got wind of the 3rd quarter specials. So I went with Tesla Leasing instead. But I'd give them a whirl, especially if you're looking for more flexibility and/or are self-employed

 

[jvmoore1]

yeah i saw on their site they do closed-end leases on used cars. that is what peaked my interest.