Just ordered a Model 3 Performance- former demo car

[nikey_Boy]

New here, so hi everyone. Quick background first. Just moved back to California after living in New Zealand for a year. Planned on it being permanent, but decided to move back. Sold my Mercedes C63S AMG when I moved to NZ and never replaced a fun car for me. After we decided (me, wife, 3 pre teen/teen kids) to move back, I started researching cars and had my beard set on the Model 3 Performance.

Been back in the US for 1 week now and wasn’t planning on ordering the car for another few weeks so we can get settled (got a family car when we got back). So today, while out with the family decided to go by the Tesla store to at least sit in one and look at the colors closer. Was torn between blue and red. Took a long range dual motor for a quick drive with the family and everyone is stoked to get the car. Ready to say our good-byes and stick with the plan.

That’s when the Tesla guy show me a previous demo with 3400 miles for $14k off! It’s red with white interior and full self driving included. Took about 30 seconds to put the deposit down. Got home and setup a lease - approval came within just a few hours! $14k down and $426/month for 36 months at 12k miles/year.

Considering I was planning on $20k down and >$500/month, I’m pretty damn stoked.

Now waiting on the car to be moved from LA to Sacramento.

 

[tangerine]

Awesome!!!! Really excited for you. You’ll be blown away how much fun it is to drive.

FWIW I’ve always thought the Tesla red multi coat paint is one of the nicest red colored cars out there

 

[rpat]

You got a steal. I would've easily taken that. I was told there were no demos or inventories with price reductions in June

 

[Scott7]

Wow fully loaded. That's a big enough discount to essentially cover the majority of depreciation on your new car for quite a while.

 

[kgoroway]

Wow fully loaded. That's a big enough discount to essentially cover the majority of depreciation on your new car for quite a while.

Why does depreciation matter on a lease?

 

[gigawatt1010]

Watch your mileage if you're leasing. If you've never owned a Tesla before, you will be driving it a ton more than previous vehicles you've ever owned. Make sure your lease covers enough mileage so you don't get penalized at the end - unless of course you just straight up buy it at the end of your lease.

 

[timk225]

I drove my Model 3 LR RWD 26K miles the first year. What's the per mile charge for going over the 12K of your lease?

 

[SMAlset]

Why does depreciation matter on a lease?

Exactly and there’s no buy out at end of lease.

OP I love the MCR with white seats. Only black seats were available when I ordered and not a red/black fan. So what version is this? You didn't exactly say. With a few drivers in your family I can see everyone wanting to take the car so yeah keep a watch on the annual mileage count. The Model 3 is such an easy car to fall in love with driving. Enjoy!

 

[Scott7]

Why does depreciation matter on a lease?

Oops I missed that it was a lease.

 

[Jefla]

I drive so much more with the P3D. I find myself inventing reasons why I need to go run out just so I can drive.

 

[tangerine]

I drive so much more with the P3D. I find myself inventing reasons why I need to go run out just so I can drive.

I can relate

 

[patrick40363]

New here, so hi everyone. Quick background first. Just moved back to California after living in New Zealand for a year. Planned on it being permanent, but decided to move back. Sold my Mercedes C63S AMG when I moved to NZ and never replaced a fun car for me. After we decided (me, wife, 3 pre teen/teen kids) to move back, I started researching cars and had my beard set on the Model 3 Performance.

Been back in the US for 1 week now and wasn’t planning on ordering the car for another few weeks so we can get settled (got a family car when we got back). So today, while out with the family decided to go by the Tesla store to at least sit in one and look at the colors closer. Was torn between blue and red. Took a long range dual motor for a quick drive with the family and everyone is stoked to get the car. Ready to say our good-byes and stick with the plan.

That’s when the Tesla guy show me a previous demo with 3400 miles for $14k off! It’s red with white interior and full self driving included. Took about 30 seconds to put the deposit down. Got home and setup a lease - approval came within just a few hours! $14k down and $426/month for 36 months at 12k miles/year.

Considering I was planning on $20k down and >$500/month, I’m pretty damn stoked.

Now waiting on the car to be moved from LA to Sacramento.

What was the sticker price on the car?

 

[raptor5244]

$14k down and $426/month for 36 months at 12k miles/year.

Considering I was planning on $20k down and >$500/month, I’m pretty damn stoked.

Congrats, but why are you putting $14k down on a lease? You should always put the minimum amount down on a lease. Just transfer some of the $14k you plan to put down and add it to your payment each month if it is a cash flow issue.

That said, keep in mind that you can't buy out these Tesla M3 leases at the end of the term. I would think through the buy option again, especially if you already already ahead of the game as it relates to depreciation. The lease terms do not sound so good if you are really getting 14k off and putting 14k down and still $426 per month. That is $30k over 3 years?

 

[Sean1]

Congratulations on your aquasition. I'll be the bad guy here....you should have purchased instead of leasing. With tax and fees, that's a close to $76,000 car, minus $14k credit, minus $20k downpayment, minuts $2500 CA rebate and you would have financed $39500. At 2.99%, 6 year finance, your payment would have been $599/mon/5yrs with no mileage restriction. I just think that you Will drive waaaayyy past the 36K miles in 3 years time (its California) and you'll be paying out the nose for the overage and after paying almost $30k in 3 years, you have absolutely nothing to show and have to hand the car back to Tesla. For me , giving away $30K is hard to accept.

 

[jebinc]

Congrats, but why are you putting $14k down on a lease? You should always put the minimum amount down on a lease. Just transfer some of the $14k you plan to put down and add it to your payment each month if it is a cash flow issue.

That said, keep in mind that you can't buy out these Tesla M3 leases at the end of the term. I would think through the buy option again, especially if you already already ahead of the game as it relates to depreciation. The lease terms do not sound so good if you are really getting 14k off and putting 14k down and still $426 per month. That is $30k over 3 years?

It's really a $30k rental fee. Might be more or less than owners "give away" on depreciation...

 

[Nocturnal]

I drive so much more with the P3D. I find myself inventing reasons why I need to go run out just so I can drive.

Part of it is the cheap fuel cost. If I had an ICE equivalent those gas bills would keep it parked more often.

 

[raptor5244]

It's really a $30k rental fee. Might be more or less than owners "give away" on depreciation...

True but if you finance instead of lease at some point the depreciation curve will level off and you have the option to keep the car or do whatever you want. In this case, Tesla wants the car back so it is even more important to not go over on the miles and be hit with those wear/tear and mileage (.25 cent per mile) overage fees. And are 3400 of of those 36000 miles are already used up or does the clock start at 3400 now for lease purposes?

Think about it, based on the description this car should list for $70,200 ($59,900 + Red Paint $2k + White Seats $1k plus FSD $6k + Delivery $1,200) + tax/tag/title. So, they are selling it basically for $56,200. We all know that the paint color and the white seats don't cost that much for Tesla to add them and the FSD option for $6k is just software that is still a work in progress, which may not realize its full value during the 36 month term of the lease. Not to mention the car has 3400 miles on it already. To me it makes sense that this particular car is discounted $14k from list.

 

[Sean1]

...Think about it, based on the description this car should list for $70,200 ($59,900 + Red Paint $2k + White Seats $1k plus FSD $6k + Delivery $1,200) + tax/tag/title. So, they are selling it basically for $56,200. We all know that the paint color and the white seats don't cost that much for Tesla to add them and the FSD option for $6k is just software that is still a work in progress, which may not realize its full value during the 36 month term of the lease. Not to mention the car has 3400 miles on it already. To me it makes sense that this particular car is discounted $14k from list.

You forgot 10% CA tax + fees which is another $7K+/-

 

[raptor5244]

You forgot 10% CA tax + fees which is another $7K+/-

No doubt, I just figured that tag/tax/title are vary by state so left it out of the equation. Also, are we all sure the Tesla passes on the tax credit to the customer when they lease or do they put it toward the bottom line? Don't get me wrong, I am a fan of leasing but it has to be the right car with high residual and low money factor. The leases don't look so great to me. Maybe now that the tax credits are phasing out the market will get a better sense of the residual and the leases will improve. Time will tell.