So I thought I had this figured out, but these Model S updates (and the expectation of more to come) have me all upside down and backwards on this question today. I hope this discussion will help others make this decision as well. My Model 3 will be the first car I've ever purchased OR leased for myself. I had resigned myself to the fact that, assuming I can afford it, I will buy it outright, in cash, for whatever price it is, and use it as often as I want for as long as I can, until I can afford an upgrade or decide to buy a new car. In this scenario, I'd reap the full benefit of the Federal Tax Incentive (assuming I receive my car soon enough to qualify), as well as, in my case, the $2500 California state rebate. I would also, whether in 3 years (if Tesla continues to offer the trade-in price guarantee) or 10 years, be able to sell my call for its full value, in cash, and use that money toward a new car or whatever else. However... There is also, obviously, the option to lease the car instead. Generally speaking, leasing a Model 3 would make it easier to take advantage of upgrades in future iterations of the Model 3 by trading in for a newer model at the end of the lease, but, as with all leases, while monthly payments are lower, cost over the life of the car is generally higher. I know very little else about the circumstances surrounding a lease, including whether or not my income, or any number of other factors, affects my monthly payments. I don't drive an obscene number of miles a year to the point where my warranty would be an issue. I don't know what other limitations you're subject to with a lease. My main hang-up from the recent Model S news is the expectation that my early version Model 3 will become obsolete in short order, and the same driving force that has led me to have purchased every single iPhone since the 3GS (s and non-s iterations included) will make me want the latest and greatest Model 3 tech as well. That may not be the case. And theoretically, I could still get the latest and greatest even if I pay cash for the car. I'm just trying to plan ahead and decide what might be the best way to start my "car buying" future. For those of you who are 100% set on one option or the other, what are the different advantages and disadvantages to either option as you see them? For those who are struggling with the decision as I am, what is keeping you unsure?