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Lease Takeover on a Model S 75D

Discussion in 'Tesla for Sale' started by mabrett, Jul 9, 2018.

  1. mabrett

    mabrett Member

    Joined:
    Jan 23, 2017
    Messages:
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    Location:
    Nashville, TN
    I have a 2016 Model S 75D available for lease takeover. Total payment is $1015.79 and the residual value is $54,777. Currently has 17,000 miles on it which leaves miles over 20,000 left on the lease which ends 2/8/2020. Non smoking- well kept. Pictures and specs attached.
    unnamed.jpg 386D8252-FBC8-437C-81AD-C007FE7DECF4.jpeg ECFA5C2C-8E0B-4D46-844C-9D180D146F0A.jpeg FF430A0A-39A6-4A85-8350-B86312DBBC65.jpeg A3E7C890-4221-48AE-A022-2C44E8CBD9B7.jpeg A427C7E0-73A5-4669-A285-E4C859DC98D1.jpeg
     
  2. Turrbo

    Turrbo Member

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    Location:
    Buford, GA
    Prob a dumb question but would I be able to pay the residual and keep the car?
     
  3. cellphonechris

    Joined:
    May 21, 2018
    Messages:
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    Location:
    Connecticut
    After you've completed the lease.
     
  4. deaddog

    deaddog Member

    Joined:
    Oct 29, 2017
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    Location:
    Chicago
    I suspect that you can prepay all remaining lease payments + residual + applicable taxes + any lease disposition fees and buy the car outright at any time during the lease. A financially questionable choice but doable.
     
  5. Rdr4evr69

    Rdr4evr69 Member

    Joined:
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    Location:
    Bettendorf
    There should be a payoff, or value, to purchase the car now available from the financial institution also. What bank is the lease through?
     
  6. deaddog

    deaddog Member

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    Location:
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    Yep but I suspect that payoff value = remaining lease payments + residual + fees. And then, depending on which state you live in, you have to add taxes. Rarely a good deal unless lessee put down a huge down payment.
     
  7. Rdr4evr69

    Rdr4evr69 Member

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    That is not usually how a lease buyout works. It would be less than the total of payments plus residual. As monthly taxes would be less and interest is added on monthly for a lease.
     
  8. deaddog

    deaddog Member

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    I understood that Tesla Finance and USBank gave NO break on the lease payments (including no discount on future interest payments) . I agree that non-prepaid future taxes are likely excluded. My point on taxes is that, at least in my state, IL, you pay sales tax on the buyout price. So, future lease payments + residual = buyout price + sales tax on buyiut price . .

    But if you think Tesla deducts future interest or depreciation payments from total early buyout, let us know why you think that.
     
  9. Rdr4evr69

    Rdr4evr69 Member

    Joined:
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    Messages:
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    Location:
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    I am in the business, Toyota dealer. I also do us bank leasing for customers. If the lease is indeed with US Bank, owner calls and asks for a payoff and a number will be given. Here is the tricky part, that I am not 100% about... I think only the leasee can buy out their own lease... would then have to pay tax n such on that amount, then can sell it.
    This lease could also be with Alliant CU, they are tight with Tesla too.
     

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