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Just ordered a Performance

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Just placed a reservation for a performance with multi-coat red and black interior. Decided against FSD as I'm leasing and I just don’t see them making it to full self driving state in the next 3 years. And if they do I can always lay out the $6k and upgrade after the fact. (although I probably wont as I wouldn’t want to spend that much on a leased car)

Anyway, says 2 weeks, and my birthday is in 2 weeks so going to try to arrange delivery for my birthday so I can give myself a little present.
 
When I played around with the ordering system using Lease option, the terms were that the car HAD to be returned at the end of the lease; no buyout option at all.

Is that still the case? I plan on keeping my car forever, so not having a buyout option killed it for me.
 
What was the initial out of pocket money at signing? How many miles a year are they allowing you?

Lease.png


My current car is over 3 years old and only has 18,546 miles on it so I'll be well under the 10k miles a year.
 
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Hi All,
New to leasing but considering what just happened with the value of the Model X I just sold I am leaning heavily towards this option with a new P3D.
Looks like 3 years only on an M3 lease. What are my options after 2 years (for example) if I want to jump to a Model Y? Will Tesla take my car in on a trade if my lease term isn't up? I know I can transfer my lease via various websites (although I think I recall not being able to do so in the last 12 months of the lease...?), but wondering what Tesla will allow for early return.

Anyone have any experience?

Thanks in advance
Matt
 
Hi All,
New to leasing but considering what just happened with the value of the Model X I just sold I am leaning heavily towards this option with a new P3D.
Looks like 3 years only on an M3 lease. What are my options after 2 years (for example) if I want to jump to a Model Y? Will Tesla take my car in on a trade if my lease term isn't up? I know I can transfer my lease via various websites (although I think I recall not being able to do so in the last 12 months of the lease...?), but wondering what Tesla will allow for early return.

Anyone have any experience?

Thanks in advance
Matt

FYI when I was filling out the leasing forms after I placed the order it actually offered a 2 year option.
 
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Thanks for posting those details, they’re impossible to find unless you run credit with Tesla.

50% residual with a 3yr/10k lease is pretty bad. Most leases are about 60% residual with those terms, maybe a hair higher. In my opinion Tesla is factoring in future MSRP price drops into the lease terms, which is fair, just kinda sucks for us.

Also, yes I realize many luxury brands take a loss on leases, especially BMW. Also the money factor is pretty high here, equating to a 5.3% rate. I would not personally take a lease with those terms for personal use, but if you can write it off on business expenses, might be worth it to you.

Also just a friendly tip, you should consider not putting that extra $3500 down. Maybe even ask for the $2500 back if you can. You should not put money down on leases because if you total the car, that money disappears (i.e., you helped out the bank to take a smaller loss). Your payment will be higher but you won’t have cash locked in an asset that you will never own.

Best of luck!
 
Thanks for posting those details, they’re impossible to find unless you run credit with Tesla.

50% residual with a 3yr/10k lease is pretty bad. Most leases are about 60% residual with those terms, maybe a hair higher. In my opinion Tesla is factoring in future MSRP price drops into the lease terms, which is fair, just kinda sucks for us.

Also, yes I realize many luxury brands take a loss on leases, especially BMW. Also the money factor is pretty high here, equating to a 5.3% rate. I would not personally take a lease with those terms for personal use, but if you can write it off on business expenses, might be worth it to you.

Also just a friendly tip, you should consider not putting that extra $3500 down. Maybe even ask for the $2500 back if you can. You should not put money down on leases because if you total the car, that money disappears (i.e., you helped out the bank to take a smaller loss). Your payment will be higher but you won’t have cash locked in an asset that you will never own.

Best of luck!

Agreed, the other thing is the last time I checked Tesla does let you buy the car at lease end if you want. No one has a crystal ball but if the M3P winds up being worth more than the 50% residual they calculated then you can't buy it out and then keep/resell it. If the OP is indeed only going to put 18k miles instead of 36k miles over 3 years then it may very well be worth more than the calculated residual.

Also, where is the $1,875 federal tax credit in this deal? Does Tesla not list it and they just keep it or is it passed on to the buyer somewhere in the deal?
 
I Just posted this in another thread but it fits. The P3D+ lease with 15k annual miles is pretty attractive. 3 years, monthly payment $685 w/ $3,500 down. After California and Edison credit the monthly payment is effectively $588. If financing, after 3 years the car would need to be worth ~$38k to break even with the lease. Kind of doubt I could ever get that much for a 3 year old Perf Model 3 with 45k miles. Especially if the $7,500 California credit passes, etc.

EVs are rapidly evolving and there will be a lot of new vehicle options available from other manufacturers in 3 years. Could P3D+ MSRP be 40-45k in 3 years?
 
I Just posted this in another thread but it fits. The P3D+ lease with 15k annual miles is pretty attractive. 3 years, monthly payment $685 w/ $3,500 down. After California and Edison credit the monthly payment is effectively $588. If financing, after 3 years the car would need to be worth ~$38k to break even with the lease. Kind of doubt I could ever get that much for a 3 year old Perf Model 3 with 45k miles. Especially if the $7,500 California credit passes, etc.

EVs are rapidly evolving and there will be a lot of new vehicle options available from other manufacturers in 3 years. Could P3D+ MSRP be 40-45k in 3 years?

Hard to tell since right now used Tesla Model 3s seem to be the same price as new ones. :confused: It will really just depend on what the market looks like 3 years from now. These cars have a 4 year 50k warranty and 8/120k on the powertrain and battery so I think market will still be strong for the car in 3 years. Especially if they keep improving the software and adding features.

Since I own one I hope it is worth $40k in 3 years. ;)
 
Agreed, the other thing is the last time I checked Tesla does let you buy the car at lease end if you want. No one has a crystal ball but if the M3P winds up being worth more than the 50% residual they calculated then you can't buy it out and then keep/resell it. If the OP is indeed only going to put 18k miles instead of 36k miles over 3 years then it may very well be worth more than the calculated residual.

Also, where is the $1,875 federal tax credit in this deal? Does Tesla not list it and they just keep it or is it passed on to the buyer somewhere in the deal?
Where are you located? I was told by every Tesla rep that I spoke with that buying out at the end of the lease is not an option. They are taking back those cars to fill out their self-driving fleet. Would explain why the lease terms are so terrible. KBB rates the M3 to hold 70% value over 36 months (realistic? maybe not, but much higher than 50%).
 
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Where are you located? I was told by every Tesla rep that I spoke with that buying out at the end of the lease is not an option. They are taking back those cars to fill out their self-driving fleet. Would explain why the lease terms are so terrible. KBB rates the M3 to hold 70% value over 36 months (realistic? maybe not, but much higher than 50%).

I am in Florida. that is my understanding as well. Supposedly the cars will be used for the robo-taxi fleet. o_O:eek: I agree, other than maybe the SR+ with no money down these leases on these cars are not good. We are all taking a risk since the market could fall out or be very strong in 3-4 years. At least we are saving on fuel costs. ;)
 
I am in Florida. that is my understanding as well. Supposedly the cars will be used for the robo-taxi fleet. o_O:eek: I agree, other than maybe the SR+ with no money down these leases on these cars are not good. We are all taking a risk since the market could fall out or be very strong in 3-4 years. At least we are saving on fuel costs. ;)
Would rather lease this than any other car that’s for sure! Just wish their lease terms were better. That’s why the wife and I decided to purchase instead. No buy-out option was a huge bummer. Justified the nearly extra $200/mo to purchase by reminding ourselves we’d easily be saving that in gas prices (San Diego avg is $3.80 for premium).
 
If you ended up selling the car at 3 years, I think you would come out ahead with the lease. And they might end up offering buy out options , it's not set in stone (especially with Tesla).
 
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If you ended up selling the car at 3 years, I think you would come out ahead with the lease. And they might end up offering buy out options , it's not set in stone (especially with Tesla).

I won’t give specifics on my numbers but after 3 years at 40% depreciation, I have at least $5k positive equity in the car to put toward a new one should I choose. After 3 years and only being allowed to drive 10k miles, he will have spent ~$28k on a rental car. I don’t tell people how to spend their money so if it works for him it works, but I don’t agree that you’ll be ahead.