Is it impossible to lease a Tesla in Georgia?

[number12]

lets say business expense deduction difference between buying and leasing a SUV are negligible, and also the monthly payments. Because one they are, and two it makes the comparasion is a lot easier.

Lease $13,500 down
Buy $2,500 down with $7500 cash back in April. (Effectively you get $5000 up front).

So unless X is worth $18,500+acquisition/turn in fee less than residual value in 3 years there's literally no one that should lease a Tesla in Georgia.

Tell me why I'm wrong? Maybe it will be really be worth that much less in 3 years, but I'm honestly asking.. Is my math wrong?

 

[Zaphod]

Apparently GA must be like TX in how the full sales price of the vehicle is taxed, not just the monthly payment. The numbers don't work out unless you don't mind throwing money away.

I know other manufacturers/dealers (BMW especially) will offer "credits" to offset or eliminate this additional liability, but far as I know, that isn't an option through Tesla.

 

[CmdrThor]

Apparently GA must be like TX in how the full sales price of the vehicle is taxed, not just the monthly payment. The numbers don't work out unless you don't mind throwing money away.

I know other manufacturers/dealers (BMW especially) will offer "credits" to offset or eliminate this additional liability, but far as I know, that isn't an option through Tesla.

Yes, and if you buy out your lease at the end you pay tax AGAIN on the current value. Every time a vehicle changes owners tax is paid, and it is on the value calculated by the state, not the purchase price.

 

[number12]

I'm sure someone in GA has leased. I just don't know how they got around those numbers. Because if someone thought their car was going to depreciate that much they probably would not even lease.

 

[sdorn]

lets say business expense deduction difference between buying and leasing a SUV are negligible, and also the monthly payments. Because one they are, and two it makes the comparasion is a lot easier.

Lease $13,500 down
Buy $2,500 down with $7500 cash back in April. (Effectively you get $5000 up front).

So unless X is worth $18,500+acquisition/turn in fee less than residual value in 3 years there's literally no one that should lease a Tesla in Georgia.

Tell me why I'm wrong? Maybe it will be really be worth that much less in 3 years, but I'm honestly asking.. Is my math wrong?

The math on my car worked out such that the 36 month cost to lease was $99,520. If I had financed instead with a typical 72 month loan at 1.99% I would have needed to get at least $70,813.14 on trade-in to break even with the lease terms.

I don't think it is out of the realm of possibility for a 4 year old (my car is a 2016 and I would be trading it in in December 2019 so most dealers, especially a non-Tesla dealer, are going to treat it as being 4 years old) P100D with 45,000 miles on it (my lease is 15k per year) to have a trade-in value of around $70k. One thing I know for certain with a lease is exactly how much it is going to cost. There is no risk with respect to what the car might be worth in 36 months.