Go for Orix financing (at 1.49% no need to pay several installments upfront) if you want to take the resale value guarantee. Even if you buy the car on a loan (HP or leasing), you can still deduct interest as expense and depreciate the car over several years. That is, you can still get deduction but over several years, not 1 year.
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Go for Orix financing (at 1.49% no need to pay several installments upfront) if you want to take the resale value guarantee. Even if you buy the car on a loan (HP or leasing), you can still deduct interest as expense and depreciate the car over several years. That is, you can still get deduction but over several years, not 1 year.
Is it comprehensive or just 3rd party? If comprehensive, is $10K for the value of a brand new car? For $700K+ without NCD, $10K is not much although the excess of $8K is kind of steep (maybe it is because you don't have NCD). For your reference, I recently got a comprehensive insurance for my 3-year old BMW 528i valued at $350K, with 60% NCD and discount for renewal, I paid about $3.5K. The excess is $4K. You may want to negotiate for a lower excess in exchange for a slightly higher premium. Good luck!
There is no good or bad level of excess. Of course, being an insured, the lower the better. I used to own a MB and had HSBC as insurer, the excess for replacing the windscreen was only HK$1. I recalled that I changed 2 windscreens in 2 years for only $2. If you don't intend to get reimbursed from insurance companies, the amount of excess should not be an issue.
Interest rate for a 6 years loan is very different from 3-5 years. That was why I choose 5 instead of 6 years.
For insurance, I highly recommend Cindy from Prudential ([email protected]). I got quotations from Liberty, DirectAsia.com, AXA, and Prudential (Cindy) and Cindy's quote was the cheapest and had better comprehensive coverage. Cindy is part of the "Tesla community" and is super responsive and helpful. I also ended up getting $10M public liability insurance for the charger at my private car park stall - again, she was the cheapest, had the coverage I needed and was super responsive and helpful. She has helped many other Telsa owners get the best deal on insurance. I have no relation with Cindy apart from being a happy customer.
In order to take advantage of the Tesla Resale Value Guarantee, I am doing a Hire Purchase from ORIX. I'm financing 60% which is the minimum for 3 years. That should minimize interest costs.
In order to take advantage of the Tesla Resale Value Guarantee, I am doing a Hire Purchase from ORIX. I'm financing 60% which is the minimum for 3 years. That should minimize interest costs.
Totally agree!! I recommend Cindy from Prudential too. She is very responsive and helpful.
Hi I just put deposit for a Tesla S in Hong Kong. I am confused about the Guarantee Buyback program. Some friends say that Tesla only provides a credit to buy the next Tesla after 3 years. The sales say that the Guarantee Buyback program pays CASH and there is no obligation to buy a Tesla with it. The small print T&C does not mention anything on cash buyback. Can any owners or lawyers shed light ?
thanks
TC
thanks
TC
My understanding is that Tesla will buy back the car without any need for purchasing a new car.
Make sure you finance at least 60% of the value of the car via ORIX and sell the car during the 37th month of the finance contract. Excess charge for each kilometer is $3.
both a doctor and lawyer friend says its not cash. Tesla sales says its cash but i prefer it in writing. The T&C here does not specifically mention cash. http://www.teslamotors.com/sites/default/files/pdfs/tesla-resale-value-guarantee-hong-kong.pdf
Do you guys have problem with liberty? I will have to recommend against them going forward. It's been almost two months since I took delivery and I still don't have my hard copy insurance. Starting to afraid if I have insurance or not. Their orig employee quit after telling me they got all docs from tesla and will mail me the policy. Then two weeks later, their email seemingly stopped to work but it still goes thru. The new lady said they are still missing registration which then i email them. She said she would mail the policy. Now a week later, still nothing.... Imagine if I had to go through their claims department... I took delivery sept 27th.
