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Lease assumption - Model 3, Cincinnati OH, $389.27 / mo

ginol

New Member
Aug 31, 2020
3
0
Cincinnati, OH
Due to COVID I'm no longer driving to the office. The car is just sitting in my garage taking up space. It's in perfect condition and I only drive it once a month or so.

This is a base Model 3 with none of the autonomous features (that's why the payments are so low). You can add those at any time after lease assumption for a few grand if you'd like.

Leased August 2019 on a 36 month lease. 10K miles a year
It only has 5800 miles on it so you actually get over 12K miles for the next 2 years of the lease. My loss is your gain!

Black on black, stock everything
I'm including the Nomad wireless charging pad that's already installed in the car.
Includes all OEM accessories.

$389.27 / mo

Feel free to contact me with questions or interest. I can provide more pics.
 

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Target

Supporting Member
Supporting Member
Apr 9, 2018
551
372
Chicago Land
Can you advise what the residual is on this lease?
Also is this a Short Range (SR) Originally rated for 220 miles or
Short Range Plus (SR+) originally rated for 240 miles?
 

kpinthebay

Member
Jun 24, 2020
134
116
San Francisco Bay Area/Kaka'ako
There is no residual on a Model 3 lease because you can't buy it at the end, your have to return it.

Every lease has to have a residual value, otherwise, there's no basis to calculate the lease payment. The difference is at this point, it's largely irrelevant because as you point out, you can't buy out the lease at the end of term.

Assuming the OP handed off cash at drive off of $5k, and is not looking to recooperate it, this is a pretty nice deal for someone that needs a lease to get around.

From LeaseHakr....

"Tesla today released new lease terms for Model 3. According to their website, a Model 3 Standard Range Plus (SR+) can be leased for $399 per month with a $4,500 down payment (not due-at-signing or drive-off), assuming 36 months and 10,000 miles per year.

Here are Tesla's current numbers for Model 3 SR+ (May 3, 2019 and later):

  • Residual: 58% + $3,750 credit (36 months, 10,000 miles/year)
    • Subtract 1% for 12,000 miles/year

    • Subtract 3% for 15,000 miles/year
  • Money Factor: .0024125 (5.79% APR)

  • Acquisition Fee: $695
The residual value, which is a percentage of the MSRP, jumped by four percent."
 
  • Informative
Reactions: Electric-fied

Target

Supporting Member
Supporting Member
Apr 9, 2018
551
372
Chicago Land
I heard that they weren't allowing people to buy them post lease, but I wasn't sure they would actually do that.

Sounds like we are confirming this is a SR+ then?
 

ginol

New Member
Aug 31, 2020
3
0
Cincinnati, OH
OP here. It's SR, I believe. It's the true $35k off-menu model which only has a 200 mile range. And like some mentioned, you're not able to purchase the car at the end of the lease. I guess they're going to use them for automated taxis or something.

Also, I'm not looking to recoup my down payment but there are a couple fees involved in transfer that you'll have to pay. A $150 credit application fee and a $500 assumption fee. Both of those fees will be taxed as well. I'm not going to cover those, but it's still an excellent deal.

I'll take some more pictures and get them posted by the weekend.
 

1Boxster

New Member
Sep 1, 2020
3
0
Columbus, oH
Due to COVID I'm no longer driving to the office. The car is just sitting in my garage taking up space. It's in perfect condition and I only drive it once a month or so.

This is a base Model 3 with none of the autonomous features (that's why the payments are so low). You can add those at any time after lease assumption for a few grand if you'd like.

Leased August 2019 on a 36 month lease. 10K miles a year
It only has 5800 miles on it so you actually get over 12K miles for the next 2 years of the lease. My loss is your gain!

Black on black, stock everything
I'm including the Nomad wireless charging pad that's already installed in the car.
Includes all OEM accessories.

$389.27 / mo

Feel free to contact me with questions or interest. I can provide more pics.
 

ginol

New Member
Aug 31, 2020
3
0
Cincinnati, OH
Yeah, it's still available. I won't have time to do anything further until Thursday, but PM me if you want my # so we can chat. There's a good amount of interest so far.
 

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