ICE lease has 4 months left. Buy Y now or wait?

[SeaNile]

Trying to justify buying a Y now and not in March when my ICE lease is up. Work pays for my lease via an allowance of $650/mo and also fuel but I'm going to be 6k miles over (about $1300) and will be right at the point where it might need new brakes and new tires. Sitting at 47,500 miles, have till March 1 and about $660/mo on a 45k mile lease.

I could pay the 4 remaining months now and the $600 over mileage fee and be done with the ICE and buy a Y. Work pays $950 a month for an EV via their allowance. Probably be about $3200 to walk away from the ICE lease if I did this today. If I wait till March it'll be $1300 in overage and also the risk of new tires and brakes.

Trying my best to justify getting a MYP before March.

Thoughts?

 

[jjrandorin]

Thoughts?

Mine is going to sound harsh, and I will state up front its not ment to be. With that out of the way, my thought is, anyone who by their own admission is doing well enough for themselves to not qualify for the tax credit, already has the ability to make this decision and internet chatter shouldnt matter in it.

Again, its not ment to be harsh, just a statement that you already know what you want to do, or what you think you should do (whatever that is) so a bunch of random strangers opinion on it for someone that is in the financial position you self described in another thread doesnt really matter.

 

[SeaNile]

Mine is going to sound harsh, and I will state up front its not ment to be. With that out of the way, my thought is, anyone who by their own admission is doing well enough for themselves to not qualify for the tax credit, already has the ability to make this decision and internet chatter shouldnt matter in it.

Again, its not ment to be harsh, just a statement that you already know what you want to do, or what you think you should do (whatever that is) so a bunch of random strangers opinion on it for someone that is in the financial position you self described in another thread doesnt really matter.

I know. But just hanging out on a Friday night and figured I'd throw the idea out there.

 

[Dantley]

I would buy the MYP now and avoid the additional miles overage, maintenance (brakes and tires at a minimum) and fuel costs. The biggest benefit is that you're in an MYP sooner rather than later.

 

[Red Ryder 3]

Won't the M3P price be higher in 3-4 months?

 

[father_of_6]

This is your second post about getting a Y in lieu of your current ICE lease. It's clear you're itching to pull the trigger and want some internet strangers to tell you it's a good idea. As @jjrandorin pointed out, you can afford this.

So, here it goes - DO IT!!!

Seriously, no regerts. Just get the car already. But I really do think you should test drive a Model 3 first, it's the most fun on 4 wheels you can buy.

 

[SeaNile]

This is your second post about getting a Y in lieu of your current ICE lease. It's clear you're itching to pull the trigger and want some internet strangers to tell you it's a good idea. As @jjrandorin pointed out, you can afford this.

So, here it goes - DO IT!!!

Seriously, no regerts. Just get the car already. But I really do think you should test drive a Model 3 first, it's the most fun on 4 wheels you can buy.

No go on the model 3. Need the cargo area for work stuff. SUV type is required.

 

[father_of_6]

The 3 has a lot of room in the trunk, with the under-trunk and all. I'm a Model 3 salesman, not a Y salesman... so I only get commission on the 3. Maybe your wife would want a 3 and you can take her Y?

Anyway, I wish I could be an all-EV household. We need a large passenger van.

Kick that lease to the curb!!

 

[jjrandorin]

I know. But just hanging out on a Friday night and figured I'd throw the idea out there.

Fair enough, lol.

Based on what you described, I would either get the model Y now, or wait until late november / early december to see if Tesla tries to do something to spur demand again for the end of the year.

Since it sounds to me like you have already partially mentally "moved into" a new model Y, I would probably do it now, vs waiting, since the difference financially probably doesnt make a whole lot of difference to you. It could also go the other way (with prices being raised) since Tesla literally just did that today on model S, according to some threads I see there.

I might have even bought a model X / model X plaid in your situation, since those cars have an ENORMOUS amount of carrying space, and are cheaper than they have ever been before right now (even though pricing has went up a bit today).

Thats what I would say if we were sitting a bar together for happy hour, having a conversation while having a drink and some snacks.

 

[tashtibet]

driving ICE is like kid's bike on training wheels-free yourself-the sooner, the Better.

 

[SeaNile]

And just like that Tesla raised the price of black exterior from $1000 to $1500.

 

[father_of_6]

Oh, black paint is so much work to keep clean. Are you able to use your wife's referral link to score $500 off plus a wall connector?

 

[rlsd]

You can buy a Y now then sell it to buy a Juniper Y in 2025 if you want a better car. It's a win win situation.

 

[Resist]

You get a Model 3 RWD on a two year lease for only $250 a month. You'd have to put $4,500 down, with a 10,000 mile per year limit, but it's still a great deal if leasing is your thing.

 

[patmurphey]

2024 $7,500 tax credit can be used as a down payment...

 

[father_of_6]

2024 $7,500 tax credit can be used as a down payment...

But the income caps still apply. Also, Tesla has been telling people that the credit is going to drop to $3750 on Jan 1, and some people are also saying that the "tax credit as a down payment" will only apply to *dealerships*.

I can't confirm either of these things myself, I'm just spreading the hearsay.

 

[SeaNile]

Maybe I’ll run the leasing numbers. 15k a year.

 

[father_of_6]

3 is a number. Y is a letter. I knew you'd start to see things my way eventually.

 

[howardnj]

Trying to justify buying a Y now and not in March when my ICE lease is up. Work pays for my lease via an allowance of $650/mo and also fuel but I'm going to be 6k miles over (about $1300) and will be right at the point where it might need new brakes and new tires. Sitting at 47,500 miles, have till March 1 and about $660/mo on a 45k mile lease.

I could pay the 4 remaining months now and the $600 over mileage fee and be done with the ICE and buy a Y. Work pays $950 a month for an EV via their allowance. Probably be about $3200 to walk away from the ICE lease if I did this today. If I wait till March it'll be $1300 in overage and also the risk of new tires and brakes.

Trying my best to justify getting a MYP before March.

Thoughts?

Buy it now!
Work pays you $950/month.
You will no longer be adding mileage to the ICE vehicle.
The $7500 tax credit is here now
Who knows about next year

 

[WhiteOnWhiteMY]

Overage fees are just burning cash. No reason to add more!