I don't want a car payment. Thinking of leasing the model 3. Does Tesla allow you to pay your lease in full? I just don't want the payments....at all...
Why not just put all the cash in an account and set up automatic bill pay? That way, you don't have to even look at it for the next three years and you earn a tiny bit of interest on that cash. You might be able buy a free six pack or two at the end of those three years!
Why not buy the car outright?
If the OP has a business and used the car for it, the entirety of the one-time lease payment could be tax deductible in a single tax year. That would be a good way to offset on one-time increase in business income.
They may let you do it. You should be mindful of the potential huge financial hit. Currently, if you drive your leased Tesla off the lot and proceed to get in a crash on the way home, you're out the down payment ($6,540 for a base Model S). If you did the same thing after having paid the down payment and pre-paid EVERY lease payment for the next 3 years, you might be out the full $36,870 ($6,450 down payment + $845 * 36 months). I'd make sure the bank clarified what would happen with the pre-payments in the event of a total loss during the lease payment before agreeing to do that.
Automatic bill payment would be the way to avoid the hassle of the monthly payment and the potential (for me) a VERY PAINFUL financial loss.
What Tesla has ever depreciated only 10% in 3 years? I paid $64k for my model 3 2 years ago. Take off the tax credit effect and call it $57k. Current trade in value is $42k. That’s 26% in 2 years. And my 3 year old model X is at about 50% depreciation. As long as Tesla keeps improving their cars and lowering the prices (both which are great things that I applaud) depreciation is going to be substantial, as my older car will always be compared to today’s price and features.With the low depreciation that Tesla have, that would be the best thing to do. If just does not make sense to lease a car that only depreciate 10% in 3 years
10% in three years??? There have already been a number of 2020 M3s that have been offered for sale for more than 10% below original retail.With the low depreciation that Tesla have, that would be the best thing to do. If just does not make sense to lease a car that only depreciate 10% in 3 years while paying as if it was depreciating 40 or 50%, and then at the end not being able to even by the car.
10% in three years??? There have already been a number of 2020 M3s that have been offered for sale for more than 10% below original retail.
It's a flawed study, or at least very misleading. Even 2020 Tesla M3s are being routinely listed for sale for more than 10% below original retail.