Lease transfer on 2015 Model S 90D - amazing deal

[Ender345]

Looking to transfer my lease on a 2015 Model S in Obsidian Black w grey interior, 21" grey turbine wheels, next gen seats, carbon fiber trim, Ultra High Definition sound package, roof rack, heated seats, air suspension and auto-pilot one in great condition.

Car has 26,500 miles and has another 21,000 miles left on the lease that ends Feb 6, 2019 (15000 miles per year, plus an extra 2500 or so that were on the car when I got it from dealer - good to roughly 47500 before you start paying per mile). Some curb rash on the right wheels and will need tires, otherwise in great condition.

Asking $1000 down and then you pay lease application and transfer fee (total of $650 = $150 for application and $500 for transfer once approved) - but I got $10,000 off the cost of the car because it was a floor model, so the lease payments on this $112,000 car are much lower than anything comparable.

$1195 is the all-in mostly cost (including tax) - car is located in downtown San Francisco, and $66,521 is the buyout at the end of the lease. Lease is also through US Bank, so will be transferred fully to your name, and you must qualify and submit application.

Great deal on an amazing car - just doesn't make sense for me to keep this and the model X.

 

[AMPd]

I just don't see how this is an amazing deal.
In fact this seems like a bad deal, you got 10k off because that's what the car was worth, you want 1k back but don't mention how much you put down at signing.

To me it seems like you want someone to takeover your lease AND pay you for it.

 

[SabrToothSqrl]

I never understood leasing. Every time I run the numbers vs. a car loan... the loan comes out ahead... and at the end, you get to keep a car! With no miles/year limit!

 

[Mike K]

I just don't see how this is an amazing deal.
In fact this seems like a bad deal, you got 10k off because that's what the car was worth, you want 1k back but don't mention how much you put down at signing.

To me it seems like you want someone to takeover your lease AND pay you for it.

Compare his offer with that of a comparable car from Tesla and you'll realize it really isn't a bad deal at all, especially for someone looking to put up minimal money out of pocket. A 75D from Tesla with comparable options would cost you $1178/ month + tax which brings you to $1284 with tax and you'd need to give Tesla $6800 down. Total spend for the same period of time as the remainder of the OP's lease would be $33,764.

His car truly would be more comparable to a 100D though and to get into one of them, again with similar options, you're looking at $1588 + tax for a total of $1730.92 and $7250 out of pocket. Total spend here would be $43599.32.

So $1200 a month and minimal out of pocket fees is actually a really good deal if you don't mind a pre-facelift car. Total spend here would be $26,200, or $7564 cheaper than a new 75D and $17399.32.

People car argue the merits of leasing versus buying until they're blue in the face but let's say you're an absolute idiot like me and you lease your car... In the world of Tesla leases, amongst us idiots, this is a decent deal.

 

[b team]

A used car with last generation technology for $1,300 per month does not seem like a great deal. The OP already consumed the most valuable portion of the lease, when the car and tech were brand new.

 

[Tdriver]

Apparently its not wise to offer a car for sale on this forum. All we get is people arguing the merits of the deal that have no interest in the sale.....and ruining the OP's pitch. Let potential buyers decide if it's a good deal or not.

 

[7summits]

I never understood leasing. Every time I run the numbers vs. a car loan... the loan comes out ahead... and at the end, you get to keep a car! With no miles/year limit!

Fixed it for you....I never understood leasing A TESLA. Tesla offers terrible money factors and residuals. To make a statement every time you run the numbers vs a car loan, the loan comes out ahead means to me you either just run math on Teslas or you like to keep cars for a very long time. Leasing makes a whole lot of sense in many situations especially when looking at BMW and Mercedes.

 

[rjcbox]

Don't think it's a bad deal

 

[AMPd]

Compare his offer with that of a comparable car from Tesla and you'll realize it really isn't a bad deal at all, especially for someone looking to put up minimal money out of pocket. A 75D from Tesla with comparable options would cost you $1178/ month + tax which brings you to $1284 with tax and you'd need to give Tesla $6800 down. Total spend for the same period of time as the remainder of the OP's lease would be $33,764.

His car truly would be more comparable to a 100D though and to get into one of them, again with similar options, you're looking at $1588 + tax for a total of $1730.92 and $7250 out of pocket. Total spend here would be $43599.32.

So $1200 a month and minimal out of pocket fees is actually a really good deal if you don't mind a pre-facelift car. Total spend here would be $26,200, or $7564 cheaper than a new 75D and $17399.32.

People car argue the merits of leasing versus buying until they're blue in the face but let's say you're an absolute idiot like me and you lease your car... In the world of Tesla leases, amongst us idiots, this is a decent deal.

Oh wow so you're saying a new car is worth more? No way! Thanks for sharing such enlightening information.

Op's lease payments are lower because the car cost less back then, in fact op says it was discounted by 10k

You can't compare his older car to a new one. If I buy a used model for half the price of a new one, did I just score an "amazing" deal?

 

[b team]

Apparently its not wise to offer a car for sale on this forum. All we get is people arguing the merits of the deal that have no interest in the sale.....and ruining the OP's pitch. Let potential buyers decide if it's a good deal or not.

I see plenty of compliments when a good deal is offered. A bad deal is a bad deal. Period.

 

[Xolt]

You typically have to pay a substantial amount to get someone to assume a lease as the new end is worth more. Today the $10k discount on a showroom inventory P90D car is trivial and not enough. Compare that to a $22-25k discount and then calculate the payments based on a similar option package and decide if it is a good deal.

 

[Mike K]

Oh wow so you're saying a new car is worth more? No way! Thanks for sharing such enlightening information.

Op's lease payments are lower because the car cost less back then, in fact op says it was discounted by 10k

You can't compare his older car to a new one. If I buy a used model for half the price of a new one, did I just score an "amazing" deal?

Whoa, I'm not sure what I said that appears to have touched you so personally. I don't recall sharing anything snarky in my post that necessitates the heavy dose of sarcasm but so it is.

Minds are clearly made up here and you appear to be way more passionate about leases than I so I bid you guys adieu. OP, sorry for mucking up the post. I thought I was helping!

 

[Tedkidd]

Compare his offer with that of a comparable car from Tesla and you'll realize it really isn't a bad deal at all, especially for someone looking to put up minimal money out of pocket. A 75D from Tesla with comparable options would cost you $1178/ month + tax which brings you to $1284 with tax and you'd need to give Tesla $6800 down. Total spend for the same period of time as the remainder of the OP's lease would be $33,764.

His car truly would be more comparable to a 100D though and to get into one of them, again with similar options, you're looking at $1588 + tax for a total of $1730.92 and $7250 out of pocket. Total spend here would be $43599.32.

So $1200 a month and minimal out of pocket fees is actually a really good deal if you don't mind a pre-facelift car. Total spend here would be $26,200, or $7564 cheaper than a new 75D and $17399.32.

People car argue the merits of leasing versus buying until they're blue in the face but let's say you're an absolute idiot like me and you lease your car... In the world of Tesla leases, amongst us idiots, this is a decent deal.

...I wonder if the residual ends up being < or = to current projected market value. If that's the case, and you want to buy a car like this but dig the option of "living with it" risk free for a while, this deal starts looking really sweet.

What is the residual at the end? Is there a current lease buyout number?

 

[patrick40363]

...I wonder if the residual ends up being < or = to current projected market value. If that's the case, and you want to buy a car like this but dig the option of "living with it" risk free for a while, this deal starts looking really sweet.

What is the residual at the end? Is there a current lease buyout number?

The buyout number is listed in the original post.

 

[Tedkidd]

The buyout number is listed in the original post.

Right, $66,500.

Two CPO cars currently fit at all close are $71 and $82, with this car looking more similar to the $82k car.

Used Model S | Tesla

I'm calling this a pretty good deal for someone.

 

[b team]

Cost to acquire ownership would be approximately $25,000 for remaining lease payments and fees plus $65,500 residual, for a total of $90,500?

 

[Mike K]

No sense in converting a Tesla lease into a purchase. The way they structure the tax credit means you effectively wouldn't get it if you ended up purchasing.