Finally ordered my MS

[miggz410]

Been a long time lurker in here and waiting for M3 with reservation... A week ago finally ordered my MS60, today I got confirmed and received my vin #. Delivery expected late July - early August.

Model S 60
Solid White Paint
All Glass Panoramic Roof
19" Silver Slipstream Wheels
Multi-Pattern Black Seats
Dark Ash Wood Décor
Integrated Center Console
Black Alcantara Headliner
Supercharger Enabled
Autopilot Convenience Features
Premium Upgrades Package
Smart Air Suspension

I currently have a Lexus GS350, and leasing a 2013 Chevy Volt. My lease for the Volt will be up in mid July. 36mos with 15k miles per year.. Volt currently have 41k miles, and way under my lease miles term. I was planning to buyout the Volt and keep until the M3. But I just couldn't wait any longer, specially with Tesla dropping the 60 again at $66k.

Now I'm torn and debating with myself between leasing and financing... I've been reading for the past week on pros and cons of leasing and financing. Reading a lot of stuff about how Tesla technology is always improving, and how AP will be much better next year. Also heard once the M3 comes out, we should see some significant changes on the MS.

Not sure which will be a smarter route for me... Lease the car with cheaper out of pocket, and monthly payment. Then just give it back, and decide between getting a newer MS with improved tech or M3. Or just finance the car, and hoping the car is still worth more than RV, and sell it to use that extra cash to put a new MS or M3... I know with a lease I can just walk away at the end of the lease. But financing have more of a risk to it, cause we don't know how much MS will depreciate once new tech, batteries, and M3 comes out.

Anyone else was or in the same situation as I am?

 

[Xenius]

I ended up ordering a few days ago. I always like to own my cars. I'm going to out between 15 and 30k down depending on sale of my current ride. The rest I will finance over 72 months at 1.49% with Alliant.

I'm currently saving 1100/mo the towards the Tesla fund. Whatever the difference between that and my payment is will go I to savings for when the wife decides she wants the Model 3 we have reserved.

 

[Cstreet]

I'm leasing my S60. The tech is changing so fast I want to easily swap in three years time to the latest Tesla. There also will be a lot of other longer range EVs in three years.

 

[Gentilly7]

Funny, you have the exact same S configuration I am debating and I am also currently driving a Volt. I own my Volt and leasing a Model S is not an option for me because I drive 20k miles a year. Like others have said the technology is rapidly evolving at this time. Within 3 years we will see the Model 3 launch and go from long build times to build times as low as 4-6 weeks. With a $35k model 3 the S will definitely go through a lot of changes to remain competitive. As long as the lease is cheaper, I would say go for it.

 

[Mickie]

Keep in mind, Tesla is the exception when it comes to updating and modernization via over-the-air updates. Your expressed concern over AP is a non-issue as improvements to it will be in the form of pushed updates, along with many other aspects of the car itself.

Also, the $7,500 tax credit may very well expire in 3 years time, but that can go either way in your situation, being with a lease, you realize the full $7,500 taken off the top of the price (good deal if turning the car in after 36 months, bad if you opt to keep), whereas you may or may not be able to take full advantage of the credit in an ownership scenario since it depends on your end-of-year tax liabilities, as people who have many write-offs or simply don't pay much federal tax tend to get screwed out of some, or all, of the credit.

Best of luck with your decision and congrats on the future ride!

 

[tagpats]

@miggz410
I had had the same lease vs. buy considerations. I was all set to buy until a couple of weeks from my delivery and decided to lease. The technology improvements coupled with the unknowns of the M3 left me feeling like I would want the flexibility to make a change in 3 years. By then new autopilot hardware will be in place With a evamped MS interior with improved battery pack options at a minimum. If I bought, I would feel compelled to keep the car to validate that decision or sell it then and risk lower than current resale values. If you're sure you'll hang on to the car, don't lease. Otherwise, you may pay a premium to lease, but that comes with great benefits.

@Gentilly7
If you get the 15,000 mile lease option you pay $1,250 for every 5,000 miles you go over. Not a huge penalty all things considered if you think you will go over. Your trade in suffers with lots of miles too, so probably close to a wash.

 

[Mickie]

I feel it's a repeating cycle any way you look at it. 3 years from now, when your lease is up and you're ready to buy or finance to own, you'll be throwing yourself in the same conundrum of "what ifs" and "might bes" of what may come the NEXT 3 years down the road. Just how it goes with cars. I was reading about you being able to receive certain hardware updates included with those extended warranty plans or paying outright for them, but I believe they nixed the wording on that. Some hardware things may still be addable to a MS down the line, anyway. Again, it's Tesla, really the only automobile manufacturer where your car, figuratively speaking, grows with the company, opposed to any other car, where the model you buy is basically what you're "stuck" with until you buy new again.

IMO, the Model S was just recently refreshed and given some new toys. More than enough reason for someone to pull the trigger now.

 

[tagpats]

I definitely get that take and that is what had me leaning buy from the start. Then the 100 battery pack, autopilot 2.0 HUD chatter became louder. Tesla made my 70 obsolete before I have it, brought back the 60, etc, which in my mind complicates resale down the road. I do agree that there will never be a perfect time to buy, but with the M3 coming next year, a lot more will be happening in the next year than the previous several and the 3 changes the whole EV landscape. Not to mention the other longer range competitors that are on Tesla's heels. Never leased before and don't expect to again, but if the pace does not slow, I'll at least consider leasing as an option until I feel content with an ownership decision.

 

[Chopr147]

Same position here but I decided to finance the loan. A 36 month lease all together will cost over $30,000 and then give the car back and get what? Do it all over again? Not at that rate. Having said that, I lease a new Lexus every 3 years for my wife and give 20K with nothing to show for it but renting another car for 3 years. So to each his own. Personally I keep cars for a long time but do worry full autonomous
will require new hardware, so updates will not get me that. See, I go back and forth in my head Ordered 6/24th and super-excited! Good luck on whichever way you decide. As far as resale: There will always be a market for it. Many cannot afford a new Tesla and will be looking for the CPO option

 

[TJ&TheBeast]

Congrats! The MS 60 is a steal but if in the cards, you should get the 60D. There is no way Tesla keeps this option available after the M3 is released. Like others on this forum, I'm keeping my Model 3 reservation after deciding the wait was too long and ordered the MS 70D post-refreshed. I only held out for 2 months and wished I held out a few weeks more to get the 60D...

 

[benemac]

Congratulations to you. We're thinking about upgrading (or downgrading) from an 85 to 75D. We really want to have the experience of AP. They keep changing things on the ordering page. Now a 75 can be ordered separately. Four battery options are now on the main page. When we do order, we think we'll finance with Tesla. Low interest and we can hopefully make more on stocks going forward with the money we don't give to Tesla right away.

 

[Electric700]

Nice, Miggz410! Also welcome to the forum!

 

[virtualsmack]

I decided to finance the loan for th ff reasons (order confirms tomorrow, s60):

1) I drive 18k miles a year. w the penalty (.25/mile I think) and deposit ($6.5k or $4k if CA rebate gets funded again) the monthly lease payment would be more than the loan, esp w rates being so low.

2) the federal tax credit... I figured this was a 1-time opportunity to have it subsidized.

3) in 3 years, I hope we will have more options but everything I've seen, outside of the 3, is scary (ugly or expensive). with a lot of manufacturers saying they are launching in 2018+, I guessed we would have real options in at least 4+ years (as in, at least 2 options that I'm really struggling with picking) and in my price range.

4) finally, autopilot. I'm counting on it being outdated next year. it's inevitable. but the current system works well enough for me. unless it is rendered useless, I didn't want to try to make a decision based on projecting future tech.

now my hope is that I keep this car for a while. I'm not sure how long someone needs to keep the car for before it pays out, but I'm ready to not want anything else for at least 6-8 years. based on what everyone says, def a realistic possibility.

if anyone sees flaws in my use of credit or math, pls let me know!

 

[Mickie]

Admittedly, I've done next to nil research on the M3, so am curious how a car that'll be at or less than half the price of a MS across the board will drastically change the MS landscape.

Also, aren't we roughly a decade out from fully autonomous? I did a quick search of some articles, the latter a Forbes

 

[Mickie]

NewAdmittedly, I've done next to nil research on the M3, so am curious how a car that'll be at or less than half the price of a MS across the board will drastically change the MS landscape.

Also, aren't we roughly a decade out from fully autonomous? I did a quick search of some articles, where Musk states this.

Pardon the double post. On my cell and accidentally posted the first and won't let me edit or remove.

 

[miggz410]

Sorry for the late replay... Had a busy weekend.

I just want to thank everyone's input to my situation... After going back and forth with my over the weekend. We are leaning more towards leasing. I guess we just want to keep our options open in 3 years. Also we don't have an issue staying in with the 36mos 15k miles term. The lower out of pocket, and monthly payments also helps a lot. I also found out that we might be able to write off a certain amount of our monthly due to my wife having her own business. I need to do more research on that to see if she qualifies.

If we do decide to finance, we we're approved for the Alliant Financing at 1.74% for 78mos... I heard Alliant doesn't come with RVG, and will have to finance with Tesla, which is currently at 2.75%.

Is the $7500 tax credit when finance a one time use only? Can it be claimed every year you own the car?

 

[MSullivan]

Looks like Elon's plan to clear up some of the M3 waiting list worked.
Congrats! I think you made a wise decision.
Downside is each 60 sold is one less $7500 credit available to a M3 reservation holder.

 

[Mickie]

Sorry for the late replay... Had a busy weekend.

I just want to thank everyone's input to my situation... After going back and forth with my over the weekend. We are leaning more towards leasing. I guess we just want to keep our options open in 3 years. Also we don't have an issue staying in with the 36mos 15k miles term. The lower out of pocket, and monthly payments also helps a lot. I also found out that we might be able to write off a certain amount of our monthly due to my wife having her own business. I need to do more research on that to see if she qualifies.

If we do decide to finance, we we're approved for the Alliant Financing at 1.74% for 78mos... I heard Alliant doesn't come with RVG, and will have to finance with Tesla, which is currently at 2.75%.

Is the $7500 tax credit when finance a one time use only? Can it be claimed every year you own the car?

How I wish this was true. Even the most devout gas chugging ICE apologist would own an EV if so. Unfortunately, it's a one-time credit with squirly rules issued to buyers of new (never titled) EVs. I've been told once Tesla hits 200k North American sales, the credit expires. My recently produced VIN shows them closing in on the 150k mark.

 

[miggz410]

Where do you go check and find these numbers at?

 

[Mickie]

Where do you go check and find these numbers at?

Regarding their current production number? Without doing research, I'm not sure beyond asking new buyers on the forum what the last 6 numbers of their VINS are.