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Is that the only way to get the resale guarantee?
I have not used it, but my guess is that that is in fact the only way you can get the resale guarantee. I remember hearing Elon Musk talking about it at the end of some quarter results presentation. My recollection was that they (Tesla) needed to account for that in their Balance Sheet but that in actual fact, they are not getting many customers wanting to take advantage of the resale guarantee. He said it nevertheless depresses the financial results because ordinary accounting practices force them to show it as a liability. But he said, that to remove the guarantee, even if it wasn't popular, for no reason other than to bolster the financial results, would on the contrary show a very negative message to the public that Tesla no longer has faith in their cars. So he said it was better to keep the guarantee but to properly interpret the financial results accordingly...
I am using it for 2 reasons;
1. The only way to guarantee the buy-back at the 37th month, and
2. Their interest rate on the financed amount was 5%, which was quite competitive in my shopping for a better deal.
In my opinion the guarantee isn't required as a 3 year old Tesla will sell for more than the buy back. I priced up some finance options with a big bank and they were pretty competitive with the 5% but also more flexible with balloon at the end and length of loan option etc.
Tesla Finance is organised through Macquarie Bank so in my quick shopping around I couldn't find a reputable organisation with a cheaper percentage rate, but having the peace of mind is what did it for me.
I am using it for 2 reasons;
1. The only way to guarantee the buy-back at the 37th month, and
2. Their interest rate on the financed amount was 5%, which was quite competitive in my shopping for a better deal.
Jon from Macquarie emailed me today to let me know their rate has just dropped to 4.75%
Jon from Macquarie emailed me today to let me know their rate has just dropped to 4.75%
I am speaking to Macquarie Leasing at the moment, this is the business that is providing Tesla finance. The current interest rate is now 4.75% fixed for 5 years. I worked at Mac for 11 years and can say that the leasing guys offer a very competitive, very good service. That particular business has grown from nothing to huge in 5 years.
Very unlikely australia will have the model 3 in 2017.I'm looking at a novated lease (for the pretax dollar benefit) but can't decide between a three or five year lease term. I know I will want the smaller model car due in 2017, but life happens so maybe I want the longer lease, or maybe I should take the extra tax benefit by paying more now. What if I get a three year lease but have to wait three years six months before I get the car I want? Any thoughts?
The buyback option appears to be challenged by newer price structure- option changes in the new ''Package" sets for Model S Plus Exchange rate of course.
My Model S was delivered Jan 2015 done 22,000+Kms With an offered tradeover option to a 85D same setup as now with an estimated delivery date of 1st july 2016 Tesla Melbourne want $90k for the changeover.
Cant say I am unhappy in any way but $90k made me think our second Tesla may well be a traded in vehicle. That would please my wife while she waits for Model 3.:biggrin: