Any good 3rd party leasing options for model 3?

[coolmanfever]

Hello All,

I just placed a reservation for the model 3 SR+ and paid the deposit. According to the sale rep, Tesla only sell or finance model 3 directly to customer. Tesla does not do direct leasing.

I have enough cash to buy model 3 directly so I do not need to finance the car. However, I am a business owner and can write off monthly cost of leasing. I would like to consider the option of leasing instead of paying car up front if financially makes more sense.

Is there any good 3rd party leasing options for model 3? or is it just better to buy the car with cash since 3rd party leasing company would charge extra fee? I am based in Toronto.

Thank you.

 

[Jgdixon]

Check with Halton Auto Lease in Burlington. I have leased numerous Teslas from them. Ask for John Howard. Tell them you were referred by John Dixon.
When you get the car consider joining ontario.teslaownersclub.ca

 

[Casmium]

As a business in Canada you car write off up to 55,000 of an electric car in the first year so that pretty much covers the entire Sr+. Just look up the business incentives for electric cars.

Zero-emission vehicles - Transport Canada

 

[Biscuitman]

As a business in Canada you car write off up to 55,000 of an electric car in the first year so that pretty much covers the entire Sr+. Just look up the business incentives for electric cars.

Zero-emission vehicles - Transport Canada

Great piece of information Casmium.
I am so glad I voted Liberal!

 

[Nepassnakes]

As a business in Canada you car write off up to 55,000 of an electric car in the first year so that pretty much covers the entire Sr+. Just look up the business incentives for electric cars.

Zero-emission vehicles - Transport Canada

Wow I didn’t even know this, this is amazing!!

What implications would this have with the federal and provincial incentives?

 

[Casmium]

The main implications will be that tesla can sell a lot of cybertrucks to businesses and better start rolling out a cybervan soon after that

 

[coolmanfever]

awsome. I gotta talk to my accountant about the 100 tax write off.

 

[Alex_San]

Vehicles in respect of which an incentive is paid under the new federal Incentive for Zero-Emission Vehicles Program will be ineligible for the 100-per-cent write-off.

So does this mean that if you get the $5000 incentive for SR+ you can't write it off?

 

[Biscuitman]

Vehicles in respect of which an incentive is paid under the new federal Incentive for Zero-Emission Vehicles Program will be ineligible for the 100-per-cent write-off.

So does this mean that if you get the $5000 incentive for SR+ you can't write it off?

Better speak to your tax preparer, this is new territory for everyone . I got nothing in the way of incentives , so am looking for 100% right off on my LR M3

 

[Alex_San]

Just got off the phone with CRA, this didn't get Royal assent yet...

EDIT

They called me back, they were wrong, it actually did get Royal assent, all is good!

 

[Ocelot]

Reading the tax write off, it does not explicitly say “new vehicle” but I presume as it’s an incentive to switch to electric it needs to be new?

 

[Biscuitman]

Reading the tax write off, it does not explicitly say “new vehicle” but I presume as it’s an incentive to switch to electric it needs to be new?

I think so, and purchased after May 2019.