So I've got my 2021 MY lease coming up in June. I decided I'm going to buy a new MY or maybe MX. That's when the craziness started.
With 4 payments left of about $2.5K on the existing lease I decided to get a quote to turn my lease in early and start the order on my new car.
Hitch #1: Unless you pay the $250 to order a new vehicle (non-refundable) they will not give you a quote as to what incentives they will offer if I go for a new Tesla. I'm not even sure it is legal to require me to pay $250 just to get a quote (New York laws). But since I'm unwilling to do that I talked to multiple people, including managers, and they all said that they might be able to get the $250 refunded if I didn't like the quote, but they couldn't guarantee that.
So then I decided I would just get a quote for terminating the lease early in my App. Said I wasn't going to buy a new Tesla and moved through the process. Answered all the questions and expected a quote around $3K- figured there would be an early term fee and the remaining payments. Nope.
Hitch #2: The quote was for $11K+ totally based on the residual value of the car (which they won't let me buy anyway because they want to keep it for auto taxis in the future). That's > 4X the price of the remaining payments. What idiot would accept that quote?
So I've talked on the phone to finance, in person at Tesla service centers, and everyone agrees this is insane. One manager even suggested that I tweet at EM because a tweet back from him would fix it in like 5 minutes.
Interesting part about hitch #2 is that the quote didn't change after I'd made my January lease payment. So they literally care nothing about what I've paid, or am paying, it's all actuarial so they can take a loss at the end of the lease (I'm gathering) and get a tax deduction, which is more valuable than me paying the rest of the payments.
So I guess I'm stuck and can't order my new car until the estimated delivery dates align to when my lease is up.
With 4 payments left of about $2.5K on the existing lease I decided to get a quote to turn my lease in early and start the order on my new car.
Hitch #1: Unless you pay the $250 to order a new vehicle (non-refundable) they will not give you a quote as to what incentives they will offer if I go for a new Tesla. I'm not even sure it is legal to require me to pay $250 just to get a quote (New York laws). But since I'm unwilling to do that I talked to multiple people, including managers, and they all said that they might be able to get the $250 refunded if I didn't like the quote, but they couldn't guarantee that.
So then I decided I would just get a quote for terminating the lease early in my App. Said I wasn't going to buy a new Tesla and moved through the process. Answered all the questions and expected a quote around $3K- figured there would be an early term fee and the remaining payments. Nope.
Hitch #2: The quote was for $11K+ totally based on the residual value of the car (which they won't let me buy anyway because they want to keep it for auto taxis in the future). That's > 4X the price of the remaining payments. What idiot would accept that quote?
So I've talked on the phone to finance, in person at Tesla service centers, and everyone agrees this is insane. One manager even suggested that I tweet at EM because a tweet back from him would fix it in like 5 minutes.
Interesting part about hitch #2 is that the quote didn't change after I'd made my January lease payment. So they literally care nothing about what I've paid, or am paying, it's all actuarial so they can take a loss at the end of the lease (I'm gathering) and get a tax deduction, which is more valuable than me paying the rest of the payments.
So I guess I'm stuck and can't order my new car until the estimated delivery dates align to when my lease is up.
