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In the automotive industry, this does not usually come until hard and fast resale numbers have been established in order to base residual values.
I wouldn't expect to see 3rd party leasing until after TESLA offers a traditional lease.
My .02
I wouldn't expect to see 3rd party leasing until after TESLA offers a traditional lease.
My .02
I did a traditional lease with a 3rd party bank (Mechanic's Bank in NorCal). For me it works best to lease my business car. The problem is that they placed the residual value very low making the payments pretty high. This wasn't a problem for me as I almost always buy my business cars after lease and it washes out. Finding a lease with traditional residual values (eg ~50% at 36 mos) didn't seem to exist. IIRC my RV was about 18% at 4 yrs.
Ven Rala
Member
It was difficult finding a 3rd party lease. I did get a couple of offers, but they could not give me he $7500 federal tax credit. They claimed they could not guarantee they themselves would get it from the Feds, I highly doubt this, by this was the issue with every lease agency I contacted. So without the federal tax credit it was actually more tax efficient to just finance it.
Thanks for the inputs. I am surprised that there aren't more options. The residual value should be close to or a bit lower than what Tesla themselves are guaranteeing. tax credits are sometimes passed on to lessees in the form of a cap cost reduction. that's why the leases for cheaper EVs are so attractive.
Unless the leasing company claims the credit and passes it along to you, I don't think you can claim it yourself on a lease.
How did you find a 3rd party lease company? Any suggestions would help. Thanks!
Unless the leasing company claims the credit and passes it along to you, I don't think you can claim it yourself on a lease.
How did you find a 3rd party lease company? Any suggestions would help. Thanks!
I was on ClubLexus and found this interesting post:
Club Lexus Forums - View Single Post - Tesla may be understating performance of 60-kWh Model S
It would be great if Tesla started their own financial services and offered a true lease. Someday, I hope.
Club Lexus Forums - View Single Post - Tesla may be understating performance of 60-kWh Model S
It would be great if Tesla started their own financial services and offered a true lease. Someday, I hope.
I calculated out a hypothetical lease for a Model S using the guaranteed buyback criteria as a residual value indicator. the result was that the payments weren't significantly less.
The main reason I was thinking of looking for a lease was to secure an alternative guaranteed buyback beyond the restricted options Tesla is currently offering.
If Tesla started its financing arm, it would probably hurt their financials since they would be responsible for so much used inventory.
The main reason I was thinking of looking for a lease was to secure an alternative guaranteed buyback beyond the restricted options Tesla is currently offering.
If Tesla started its financing arm, it would probably hurt their financials since they would be responsible for so much used inventory.
Pretty sure one can only claim the credit as a purchaser of the vehicle so a lease would not qualify. I think that's why Elon set it up this way rather than a traditional lease. Is there a CPA who can verify if this is correct?
Tedkidd
Member
Leverage of that credit up front, and shifting depreciation risk are two very attractive benefits of leasing. Seems neither work to lessee advantage here.
Tedkidd
Member
Actually the biggest benefit I see is being able to pretty much write of all the depreciation of the car when you file your taxes as the lease payment can be deducted by the same percentage that you use the car for business. This is a huge benefit for someone who owns their business as it reduces your lease payment essentially by your tax rate %.
I never lease cars but with my business I see the benefit in doing this so I too am curious about third party leasing options for a Model S. I'd actually love for the residual to be crazy low as that will allow me to claim all that depreciation and then buy the car after the lease at a great price...
