I don't think Tesla's for me.. :(

[travisrauh]

Looking for feedback..

I have a 2020 Model 3 LR AWD with FSD and Acceleration Boost in MA that I got in March. It's a really cool car (and will no doubt get cooler as they continue with updates), but I am increasingly feeling like it's really just not for me. I had come from a Genesis G90 and a Mercedes before that and miss the larger size and more luxurious interior.

I had decided to lease since that's just generally what works better for me, so I have like 33 months and ~41,500 miles of allowance remaining (15k/yr).

I know you cannot buy out leased Teslas since they want it back for their future robo-fleet, so simply selling it is out of the question, but does anyone know if they allow lease takeovers, or would you instead recommend subleasing (I really don't want to become a bank chasing someone down for monthly payments and needing to enforce a contract, but will if that's my only option). The monthly payment is $848.43.

How would you proceed in this situation? Thanks in advance!

 

[acarney]

Looking for feedback..

I have a 2020 Model 3 LR AWD with FSD and Acceleration Boost in MA that I got in March. It's a really cool car (and will no doubt get cooler as they continue with updates), but I am increasingly feeling like it's really just not for me. I had come from a Genesis G90 and a Mercedes before that and miss the larger size and more luxurious interior.

I had decided to lease since that's just generally what works better for me, so I have like 33 months and ~41,500 miles of allowance remaining (15k/yr).

I know you cannot buy out leased Teslas since they want it back for their future robo-fleet, so simply selling it is out of the question, but does anyone know if they allow lease takeovers, or would you instead recommend subleasing (I really don't want to become a bank chasing someone down for monthly payments and needing to enforce a contract, but will if that's my only option). The monthly payment is $848.43.

How would you proceed in this situation? Thanks in advance!

I’m not familiar with leasing since as soon as I heard no buyout option I stopped researching the lease options.

I will say though that before you write off Tesla, you might want to look at an S or X at some point down the road. Those are the more premium flagship vehicles. A Model S is only a few thousand more than the G90, so that might actually be more comparable. That Model 3 was probably $10k to $15k cheaper than the G90 and that was after almost $10k of upgrades spent on software (FSD and speed boost unlock.)

 

[mjw930]

I was told when I asked that they do allow 1 lease transfer but the new "owner" needs to apply and qualify. You can't use one of those lease broker companies.

 

[glide]

$848/month for a LR AWD is a tough sell.

 

[travisrauh]

$848/month for a LR AWD is a tough sell.

With FSD, Acceleration Boost, HomeLink at 15k miles/year for $0 down? I thought it seemed reasonable.

 

[glide]

With FSD, Acceleration Boost, HomeLink at 15k miles/year for $0 down? I thought it seemed reasonable.

Ahhhh didn’t see that you had FSD. Even still, the price of that software feature over the course of a lease is bonkers but some may want it.

 

[Pkmmte]

$848/month for a LR AWD is a tough sell.

I agree. I'm currently paying $500 /month for my maxed out 2019 P3D- I bought (barely) used. Even a new P3D+ would've cost me $800 /month. I can't see myself paying more than that for a non-performance.

 

[Ejl80]

I agree. I'm currently paying $500 /month for my maxed out 2019 P3D- I bought (barely) used. Even a new P3D+ would've cost me $800 /month. I can't see myself paying more than that for a non-performance.

That’s either a lot down or spread over a ridiculous number of years.

 

[Uncle Paul]

I have a feeling that when you realize what is entailed in getting out of your lease, you might just living with your Tesla till the lease runs out.

There are 3rd party swap a lease programs where someone will take over your lease, but if that does not work, you might be better off just keeping it.

Leases are cheap to get into...but expensive to get out of.

 

[travisrauh]

I should clarify the $848 is inclusive of MA tax.. I believe the base is more like $790/mo.

 

[Gasaraki]

Why didn't you get a Model S? You knew that the Model 3 is in the compact sedan class or you should have known.

 

[Hblick48]

I've had Mercedes, BMW, Cadillacs in the past. I test drove the Model 3 and felt its level of luxury did not compare to the others. Then I drove a model S. Aside from a few irritations (no grab handle, door pocket storage), it met my expectations.

Ended up buying a 2016 Model S 75 from Tesla. Same price as a base Model 3, much more car.

Very Happy!

 

[travisrauh]

I didn’t get the S because it’s interior felt just as basic as the 3’s and isn’t it due for a redesign soon? I’m also not interested in replacing it with an S or X because the sales process is awful. They are the most incompetent group of people I’ve ever dealt with.

 

[SlimJim]

$0 down is good for you. But not for the person taking over.

 

[MXLRplus]

I didn’t get the S because it’s interior felt just as basic as the 3’s and isn’t it due for a redesign soon? I’m also not interested in replacing it with an S or X because the sales process is awful. They are the most incompetent group of people I’ve ever dealt with.

I often hear people describe Tesla's as luxury cars. It makes me wonder if all they had driven was a 2009 Prius?

Today's luxury cars are very nice. I see the Tesla as a utilitarian interior when compared to all 2020 cars. It's not a popular opinion but it's true. A/C-Heated massage seats are the current craze.

One thing that is interesting to see is the 2009 Tesla Model S prototype that is in Petersen's Museum in Los Angeles. It had a 2009 luxury interior. That interior did not make it into production. In fact, the interior materials have been getting downgraded as time goes on.

 

[travisrauh]

$0 down is good for you. But not for the person taking over.

Care to explain? They’d also have $0 down if it’s just a simple lease transfer. Sales taxes and fees were already paid.

 

[SlimJim]

Care to explain? They’d also have $0 down if it’s just a simple lease transfer. Sales taxes and fees were already paid.

If they take over my lease with zero down their monthly payment is $577. No fds but the difference over 30 months will be over $8000.

if you had put down $5000, the new person would be making a lot less per month.

 

[texas_star_TM3]

Looking for feedback..

I have a 2020 Model 3 LR AWD - I had come from a Genesis G90 and a Mercedes before that and miss the larger size and more luxurious interior.!

so you are comparing a $70-$80k Genesis G90 to a $50k Model 3 AWD ?

Looks like a $80k Model S would have been the better choice

 

[one2many]

OK, its late here. I really just do not get it.
I have never bought a car I did not like. Is it missing a bobble head,
tuck and roll, dice, seats … it is a car. Or is it like a hack saw.
It the issue the boat does not fit in the trunk. It is a very different
car than what's being sold in the ICE world, but that is clear in the first
hour drive.

 

[arghx7]

You don't just get out of a lease because the car "is not for me" without paying a huge penalty. You need to learn to live with the car, or take a big hit. Go read your lease agreement.

On my recently ended lease, a 2017 Dodge Challenger, if you turn in the car early, you owed all the back lease payments plus an adjustment for the depreciation of the car vs some arbitrary calculated reference value. There is wiggle room in the lease agreement if you work with a dealer to get out of it. For example, with 9 months left on a 3 year 36k mile lease, I talked to a dealer and they said I'd roll over $2k in negative equity, which is tolerable. I didn't pull the trigger on another car and decided to just pay it off as I didn't want to re up on more payments (it was a 3rd car).

I had a Mustang lease before that. It was the 2.3 turbo and I was thinking of upgrading to the V8. They wanted over $5k in penalties that would be rolled into the new car. I think I had a little over a year left on a 36k mile lease at the time.

I doubt a Mercedes dealership is going to be able to cut a deal with Tesla. You're most likely on the hook for a lot of money. It may not be the balance of the whole lease amount, but it will be many thousands of dollars.

This is not a good economic time to be taking huge financial hits like that unless you are very very sure your financial future will be stable. Do you have a large emergency fund? If you have kids, do you have their education planned out? Are you saving for retirement?