Lease vs finance

[Cyclone]

Can you lease through another bank? how does that work? I thought leases were ONLY through the dealer

Many other financial institutions, particularly credit unions, do leases. Some of them even offer it on used cars.

 

[Navyguy]

Yes, you can lease cars through other banks. It's just financing.

And remember, Tesla doesn't have dealers.

I know that I meat that normally leasing is through the dealer / manufac. financing a lease. or is it just buying at that point?

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Has anyone gotten higher than 15K miles for leasing> I think if I could get 20K i would do that, that is really the thing thats keeping me from leasing.

 

[ChadFeldheimer]

I know that I meat that normally leasing is through the dealer / manufac. financing a lease. or is it just buying at that point?

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Has anyone gotten higher than 15K miles for leasing> I think if I could get 20K i would do that, that is really the thing thats keeping me from leasing.

Tesla does not lease their cars. They sell to a partner bank (US Bank in my case) and the partner bank leases it to the end user.

What andrewket is saying that there's nothing stopping a non-partner bank from buying a Tesla and leasing it to you. You just have to do some legwork and find one.

And it doesn't have to be a bank. It could be a friend or relative, so long as you can agree to terms.

Regarding lease mileage, the US Bank overage charge is $0.25/mile. In comparison, a 15k mile/year lease will cost approximately $1/mile without overage charges. I think the excess mileage charge is very reasonable. For example, if you put 100k miles on in 3 years (a lot of miles for most), the excess mileage charge is only $14k.

 

[mnec]

After Long debate I am going for finance.
Since I have a small business so I finance the car in business name and get sales tax back. And I I can write off 15-20 % of the value of the car as a business expenses. Plus I don't have to worry about how many miles I put on the car.
Only drawback is after 4 yrs I plan to sell it privately and can not predict how much will be the residual value as Model 3 is coming out.