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Is anyone still waiting for a lease program for the Model 3?
- Thread starter FrankOT564
- Start date
RScottyL
Member
Yes, I would love a lease program, but figure they will try to make people purchase them as long as they can!
If I can get a performance model for under $500 then I would be a happy man! I doubt it would be THAT cheap though!
If I can get a performance model for under $500 then I would be a happy man! I doubt it would be THAT cheap though!
M3BlueGeorgia
Active Member
A SR+ with 15% down and a 72 month 3% loan will cost you about $530/month.
And most of that 15% will come back with the tax credit, which you get to keep because it isn't a lease.
And if you live in a State with extra incentives (like CA) put down more, get it all back and have a lower monthly payment.
So what problem are you trying solve by leasing?
Perhaps, you want to own a car you can drive as much as you can, but like to pay massive end-of-lease mileage overages?
And most of that 15% will come back with the tax credit, which you get to keep because it isn't a lease.
And if you live in a State with extra incentives (like CA) put down more, get it all back and have a lower monthly payment.
So what problem are you trying solve by leasing?
Perhaps, you want to own a car you can drive as much as you can, but like to pay massive end-of-lease mileage overages?
Don't get your hopes up much. Tesla has traditionally had really terrible leases with SIGNIFICANTLY higher monthly payments compared to BMW cars with the same MSRP, even with previous tax benefits.
Given future cars will have little to no tax benefits and probably lower residuals than before, combined with having no discounts (never had those on Teslas) and higher money factor (just higher interest rates in general in the market), expect really bad lease numbers.
Given future cars will have little to no tax benefits and probably lower residuals than before, combined with having no discounts (never had those on Teslas) and higher money factor (just higher interest rates in general in the market), expect really bad lease numbers.
I was ... but just pulled the trigger on a Model 3 today. The more I thought about it, the less leasing makes sense...
The mileage restriction is one issue.
The tax credit is another.
I suspect leasing will make more sense once the full $3750 fed tax credit goes away.
Here in NJ, we pay 0% sales tax on EVs, so that also becomes a pot sweetener. No tax advantage to leasing (no negative, either.)
So, I just jumped in for a financed purchase @ 3% APR, less than Tesla's historic leasing rate, and if I only drive it for 2-3 years and decide I want out (into, say, a Model Y) - I just sell it...
I had some advantage to getting out of my current ICE lease now - the tax credit change at the end of June more than makes up the difference between trade-in and buyout on the current ICE.
The mileage restriction is one issue.
The tax credit is another.
I suspect leasing will make more sense once the full $3750 fed tax credit goes away.
Here in NJ, we pay 0% sales tax on EVs, so that also becomes a pot sweetener. No tax advantage to leasing (no negative, either.)
So, I just jumped in for a financed purchase @ 3% APR, less than Tesla's historic leasing rate, and if I only drive it for 2-3 years and decide I want out (into, say, a Model Y) - I just sell it...
I had some advantage to getting out of my current ICE lease now - the tax credit change at the end of June more than makes up the difference between trade-in and buyout on the current ICE.
My friend was able to get a significantly lower lease deal on a Model S from an inventory car (may be demo car, not too sure). I think the trick is when Model 3 inventory starts to build up and especially towards end of quarter, you could get something better than the standard lease deal on a brand new custom order.
lampcord
Member
I was hoping for a lease but the info I'm hearing is they need the cashflow from purchases to stay in the black. Monthly payment isn't really the issue in the long run. True cost of ownership is financing + depreciation + fuel + maintenance. The only advantage I see of a lease is that if for some reason you are upside down at termination you can walk away which you couldn't do on a purchase.
I was holding off for a lease as well but when they offered 7.5k off a P3D during the end of quarter push, I jumped on it, and I'm glad I did....
Don't hold off...given all the options now, get a config you can afford and enjoy the car.
I decided not to splurge on FSD since this is my daily driver and Its more fun for me to drive the car rather than having the car drive me.
Basic AP is good enough for the commute back from work when I get some traffic.
Don't hold off...given all the options now, get a config you can afford and enjoy the car.
I decided not to splurge on FSD since this is my daily driver and Its more fun for me to drive the car rather than having the car drive me.
Basic AP is good enough for the commute back from work when I get some traffic.
M3BlueGeorgia
Active Member
Maybe, but keep in mind that's just BMW's way of discounting their cars while maintaining the illusions of a high MSRP.
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