Lease end options

[Panthe76]

I’m six months from the lease end- model s 100D with about 23k miles over last 3.5 yrs. my balloon payment is £35k and current value about £60k
Would you buy the car or send it back and use residual for a model Y perhaps. This is my second credit agreement and I have lifetime free supercharger miles if that helps.
Thanks

 

[ATPMSD]

I want to be careful in terminology here. If this is a lease you have two options, you either buy the car or turn it In. If you turn it in there is no value to be applied towards a new modeL, the lease simply ends. If the end of lease buyout is £35k you can buy the car for that amount and then sell the car on the market for £60k; this will put £25k in your pocket. You can then use that money towards the purchase for your next car.

 

[Panthe76]

I want to be careful in terminology here. If this is a lease you have two options, you either buy the car or turn it In. If you turn it in there is no value to be applied towards a new modeL, the lease simply ends. If the end of lease buyout is £35k you can buy the car for that amount and then sell the car on the market for £60k; this will put £25k in your pocket. You can then use that money towards the purchase for your next car.

Apologies I wasn’t clear enough.
It’s PCP agreement from 2019 when I turned in my 2016 model s 75D for the current car.
The trade in value according to Tesla when last checked was just above £60k.
The car is working fine except lately the LTE connection is breaking up every now and then.

 

[Ashleyy]

The new contracts must be different. I bought mine in December 2022 because they confirmed you cannot buy out the car at the end of the lease.

 

[Panthe76]

Revisited the 'trade-in' online option and now the price i was given is 51k. Prices seem to have fallen a lot.