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Deciding to lease

TM3PTN

Member
Sep 8, 2019
203
95
Bolton
Hi guys,

I have tried to read my way through the M3 Leasing thread but with 35+ pages and lots of different conversations it was difficult to keep track of what I was looking for so I thought i'd post something more succinct here - hope you don't mind :)

After the disappointment of the price increase I got an e-mail from Octopus EV who have managed to secure a freeze for a short period of time, so they can offer lease deals at the pre-increase prices. This got me thinking...

The deal I am looking at is for 4-years (10,000 miles/year) on a MSM M3P with a deposit of £3,426 - £571/month.

A couple of questions for those that have gone through Octopus EV (or generally through lease really):

  1. Does this sound like a good deal? I need a second opinion from you experts who have been really helpful on here!
  2. I can't seem to find the excess mileage charges - does anybody know what these would be?
  3. Usually lease companies require you to get the car serviced etc. at a manufacturer approved dealership - with Teslas not really needing any servicing where do we stand with this?
  4. When does the deposit need to be paid? I think read in another forum that Octopus don't usually ask for it until 7-days prior to delivery - is that right? If so then that would be useful.
  5. How do we ensure the referral 1,000 miles can be applied to our Tesla account? Do we need to give the lease company the details at the point of singing the docs? I know a few people have said it is only worth around £60 but if its a free £60 of fuel for a bit of extra tinkering then it's worth it :D
Thanks in advance for the assistance :)
 

davidmc

Active Member
May 20, 2019
1,543
1,642
Leicester
Well done for reading 35 pages in one thread, especially when loads changed through the stages of spec, decrease in costs colour changes lol !

Octopus EV is who I am with and have been great but be prepared for minimum communication, nothing bad but you do feel left out!

1. Not sure on that deal, seems good. I'm 25k a year for a SR and pay just a little under that £537. Milage kills the monthlies

2.not sure what it is now. Started at 4p/m for the first 10k then 6p but I have heard it's now 9p? Not to sure

3. You have to do what Tesla advise in the manual... which I need to read :/

4. I paid once I signed the contract, some paid just before. If you speak to them they are very helpful and you can agree a payment time/date for the deposit.

5.give OEv the referral straight away to use. If they don't Tesla don't add it on. Or you pay the deposit with the referral link and then hand over your account details to OEv. This way you know you have the referral miles. But you will need the extra 2k first! Tesla will give it back but takes 15days after pickup. You can try my referral out if you need a tester ;p apparently my free 1000 miles are slightly faster than others!
 

TM3PTN

Member
Sep 8, 2019
203
95
Bolton
Thanks David - yeah it was a slog over a couple of days! Lol.

Hmm I need to have a chat with them today about upping the mileage allowance to see if they can do anything. 10k sometimes just isn’t enough! Lol.

The maintenance thing is what worries me slightly in that Tesla do say the cars are effectively maint-free but if the manual says it needs an annual service which will cost close to £1k then we are obliged to do it :( if I had the car outright it’s unlikely I would get it serviced that often like I would an ICE. I’ll ask the question to the chaps at OEV.

I may take you up on the referral test ;) but I’ve had a few people ask to use theirs so I’ve made a list and will ask a family member to randomly pick - the fairest way I can think of :)

thanks for the advice!
 
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WannabeOwner

Well-Known Member
Nov 2, 2015
5,758
2,896
Suffolk, UK
I know a few people have said it is only worth around £60 but if its a free £60 of fuel for a bit of extra tinkering then it's worth it

I'm not knocking it, free is free :), but if you would otherwise charge at home on a decent Off Peak rate it is £20 quid only ... if you are on a trip and would use a Supercharger anyway then, as you said, its about £60

apparently my free 1000 miles are slightly faster than others!

Ah, but the catch with that would be that you don't get the full 1,000 miles :p

Actually I have no idea how Tesla offer "1,000 free miles" when, presumably, they actually give free kWh, and probably the same for all cars regardless of actual average wh/mile ...

if the manual says it needs an annual service which will cost close to £1k then we are obliged to do it

The manual did used to say that, Tesla revised it (some time in the last year). There are some things you need to do, but it is (now) far from onerous / expensive. This is also good news for extended warranty which, at the time, I didn't take because service-interval made it very expensive (I do 30,000+ miles a year and service less than once a year, that wouldn't have been valid under previous requirements)
 
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TM3PTN

Member
Sep 8, 2019
203
95
Bolton
I'm not knocking it, free is free :), but if you would otherwise charge at home on a decent Off Peak rate it is £20 quid only ... if you are on a trip and would use a Supercharger anyway then, as you said, its about £60



Ah, but the catch with that would be that you don't get the full 1,000 miles :p

Actually I have no idea how Tesla offer "1,000 free miles" when, presumably, they actually give free kWh, and probably the same for all cars regardless of actual average wh/mile ...



The manual did used to say that, Tesla revised it (some time in the last year). There are some things you need to do, but it is (now) far from onerous / expensive. This is also good news for extended warranty which, at the time, I didn't take because service-interval made it very expensive (I do 30,000+ miles a year and service less than once a year, that wouldn't have been valid under previous requirements)
Thanks for the advice :) what do you think it would cost for the things mentioned in the manual? I’m sure the guys at OEV will be able to advise here (a rough idea is all I need).

re. Superchargers - I would most certainly use those ‘miles’ over the next few months. The car itself (self-driving, etc.), plus the miles would give me reason to head out and see more of the country! Not done a good road trip in a while :)
 

WannabeOwner

Well-Known Member
Nov 2, 2015
5,758
2,896
Suffolk, UK
what do you think it would cost for the things mentioned in the manual?

Sorry, I don't have a handle on that at all. I'll have a look for the thread when it first came up, when Tesla changed from "big service at regular mileage interval" to "We are so busy we can't actually book any cars in for service anyway" :)

The original service was regarded as an expensive inspection ... but, in that regard, it may well have given Tesla the data / confidence to decide that regular service wasn't needed. For the sceptical! it came at the time that other EVs like iPace arrived with service included in the price, or a "no/low service" requirement ...

Not done a good road trip in a while

One of the #1 tips on here (there are loads!) is that you will do more miles, and way more enjoyable miles, in EV than you ever did in ICE

Enjoy! :)
 

zayn

Member
Jun 3, 2019
415
121
London
should have mentioned I referred myself to OctopusEV who passed on to Tesla. I got 2000 miles in my loot box which I have already started to use :)
 

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