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Anyone trade in their Model 3 lease to another dealer? [not currently possible in US as of 10.28.2021]
- Thread starter idealdreams
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My situation is a bit different. I leased a M3P in Sept 2019 more or less 'blind.' Never even drove a Tesla. Now, I want to keep the car -- economics aren't an issue -- but how? Tesla has begun loosening up in some markets to allow Y & 3 owners to buy out their car at lease end. So, we'll have to see on that. However, I have a car dealer/friend who would be willing to do a sort of 'loop transaction' -- buying my car and reselling to me for the costs involved. Anyone see a landmine in this that I'm missing? Thanks
if you are in a 3 year lease, you should simply let it play out and engage your friend in the last month to see what their buyout price would be from tesla, and decide from there. For all we know, Tesla may relax those rules before your lease ends. There is no reason to do anything before the end.
My wifes car is a 2019 BMW X3, which we leased in January of 2019 (January 4th, 2019 actually). Right now, in April of 2021, it has 5100 miles on it. She normally drives about 5-6k a year, but.. last year neither she nor I did much driving. I normally put almost 20k miles a year on my vehicles driving to work and back, and last year I put like 6k on my model 3.
We’ve made our own mileage. Our Model X just hit 21k miles; it’s 10 months old.
Took two magnificent road trips - these cars just beg for them!
Just found this thread. As far as online buyers... I confirmed today that Carmax will buyout Tesla leases. Anyone know what others do or don't? Also, how can I find out their buyout/residual price. The tesla chat assistant wouldn't disclose that to me. I'm a little over a year into a 3 yr MY LR lease 2020, and upgrading to a new Y this december. Figured I could at least get my initial downpayment and a years worth of lease payments back (maybe net 10k?) I see carvana offering $58k for this model, I just don't know what the buyout is... $48k or less? What do you all think? Thanks
I'm about 13 months into my 3 yr lease on my 2020 MY LR. I take deliver of a new MY LR this december, (or so they say!). I know Carmax is one of the dealerships that can buy me out of my lease, I believe Carvana can't. Anyone know which of the online ones, or others, can or can't do this? My big question is, what is their buyout figure? The offers I'm getting if I owned the car are around $58k. I'd love to walk away with a 10K check, which gives me my downpayment and a years worth of payments back, but I don't know what margin's they have. The online tesla assistant would not "speculate" what that would be. Made no sense, obviously someone has to know before offering right? What is your experience with this?? Thanks!!!
Chris
Chris
Slumpey326
Member
I thought someone posted that Tesla stopped doing the lease buyout for model y and 3 to 3rd party dealerships starting this week. Or am I wrong?
This is brand new I am seeing on Tesla's website:
Eligibility
This is brand new I am seeing on Tesla's website:
Purchase Your Tesla
You may be eligible to purchase your leased Tesla. Review your lease agreement to see if you qualify.Eligibility
- Model 3 and Model Y are not eligible at this time.
- Third-party dealerships and third-party individuals are not eligible to purchase leased vehicles.
Given the current market, that’s become VERY common from many manufacturers. Resale is significantly higher than the residuals so they’re capturing that value for themselves.
Slumpey326
Member
(moderator note)
Locking this thread as there is an active discussion thread on this topic currently, which can be found here:
Has anyone sold their leases Model 3 to a dealer? [as of 10/28/21 not possible any longer]
Rental agencies have similar rules. You can't just rent a car "for the weekend" and then go off and sell it to a 3rd party dealer. It's not the same thing. The issue being discussed is that Tesla changed the terms (lease end options) after the lease was signed. Instead of a choice of turning...
teslamotorsclub.com
Its currently not possible per that thread as of October 28th.
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