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FYI: 2 nicely discounted inv. MX listed

SimplyFoolish

Member
Feb 9, 2016
19
4
Everett, WA
Their estimator won't calculate "adjusted" priced vehicles correctly.

I don't understand, you go to the lease page, type the amount, get a result. You know something I don't - is the residual value raised for these?

For instance, when I go to Tesla Leasing and type in the amount for that car, and give an LA zip code, it comes out to actually around 1800 with CA sales tax. The leasing calculator should be able to correctly do the residual value.

If there is a better formula, I would love to have it?
 

hmmm

Member
May 12, 2015
884
593
Driver Seat
Ya I am confused on that as well. All these great lease deals but when you actually plug in numbers on leasing page it's significantly higher.

I learned this from @SoCal Jimmy last year when I pulled the trigger on my car, last year....the public calculators just do straight math and use the MSRP. With a discounted véhicule however, the residual is based off of the MSRP but the non-residual part is based on the final, discounted price. In essence, the residual is "higher than it should be", thus decreasing the lease payments. Fun fact: the first version of my lease paperwork (straight from tesla finance...) had ignored that difference and I had to walk them through it.

@SoCal Jimmy it was just a guess (whishful thinking I guess..) what MF etc did you use?
 

SimplyFoolish

Member
Feb 9, 2016
19
4
Everett, WA
I went to the Tesla Finance page and did a view source. How they do their calcs are there.

Unless anyone can present evidence that they use a different money factor, or residual, everything is being calculated pretty correctly..

Here's their math, for the technically minded (used by the Tesla Lease Calculator)

var constants = {
'money_factor': 0.0021,
'interest_rate': 5.04,
'federal_incentive': 7500,
'acquisition_fee': 695,
'deposit': 2500,
'min_down': 0,
'min_due': 2500,
'max_price': 100000
};

Now, you will get an error if you put a value in that's less than the 'base value' but just change it from the P to the non P. I thought this might affect the residuals, but it doesnt.

'X100D': {
'base': 96000,
'alg_residual': 0.50,
'deposit': 2500,
'downPayment': 5000,
'term24': true
},
'XP100D': {
'base': 140000,
'alg_residual': 0.50,
'deposit': 2500,
'downPayment': 5000,
'term24': true
}


For the non technical, what this means is that for purposes of lease calculation, the P100D and the 100D are treated the same, the 'base' is different and that only affects the error message displayed.

So you can use the Tesla Lease calculator for a more realistic view of your payment, just step down a model if your value would be less than the 'base' (This applies only for the P100D and 100D. It may apply to others but I haven't checked.)
 
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SoCal Jimmy

Active Member
Apr 24, 2016
1,353
528
Inland Empire
Ya I am confused on that as well. All these great lease deals but when you actually plug in numbers on leasing page it's significantly higher.
I don't understand, you go to the lease page, type the amount, get a result. You know something I don't - is the residual value raised for these?

For instance, when I go to Tesla Leasing and type in the amount for that car, and give an LA zip code, it comes out to actually around 1800 with CA sales tax. The leasing calculator should be able to correctly do the residual value.

If there is a better formula, I would love to have it?

Using the numbers that are current for Q3 in my homemade calculator, I come up with the numbers I provided. My calculator is typically +/- $25 a month as I don't know how to calculate the DMV fee for California correctly nor spent enough time to figure it out.

Here is a screenshot of the online calculator showing a similar payment as I get.
 

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SoCal Jimmy

Active Member
Apr 24, 2016
1,353
528
Inland Empire
You need to put the "adjustment" as part of the down payment. That's what I've been telling people this entire Q3. These price adjusted vehicles are great for leasing as the "adjustment" reflects as a down payment on a lease, eseentially lowering your monthly payment by $30-50 per $1k off(depends if your doing 24 or 36 month).

Don't use the sale price after adjustment in the calculator. You must use $154,000 as the starting price, since that's what the residual is based off of. Then add $34k as a down payment plus the $5k normal down, which gets me to the $39k In my screenshot.
 
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SimplyFoolish

Member
Feb 9, 2016
19
4
Everett, WA
Ah. I see what you mean. Well I have no evidence for that but experience wins. :)

I'm not sure why they would calculate the residual in the manner you suggest but if that's what they're doing...
 

hmmm

Member
May 12, 2015
884
593
Driver Seat
You need to put the "adjustment" as part of the down payment. That's what I've been telling people this entire Q3. These price adjusted vehicles are great for leasing as the "adjustment" reflects as a down payment on a lease, eseentially lowering your monthly payment by $30-50 per $1k off(depends if your doing 24 or 36 month).

Don't use the sale price after adjustment in the calculator. You must use $154,000 as the starting price, since that's what the residual is based off of. Then add $34k as a down payment plus the $5k normal down, which gets me to the $39k In my screenshot.

FYI, I just realized I mixed up 2 cars re. prices and discounts in my initial post.

The one I linked is $121k sale price, $32k off when you include the ref discount which is about $1,250 before tax. Too bad I don't "need" an X...
 

hmmm

Member
May 12, 2015
884
593
Driver Seat
Another awesome deal just showed up, in Florida
90D
$21,950 off
$93,550
EAP, fully loaded, 5 seats
Black on black

I did not do the math, but that should be a sub $900/mo lease pretax

Gentlemen/Ladies, start your engine...

Inventory | Tesla
 
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