Leasing an eGolf for 30 months and wait for Model X CPO?

[Quesder]

Leasing an eGolf for 30 months and wait for Model X CPO?
My wife thinks the depreciation of brand new Telsa Model X is too much. So the compromise I can do is to lease a eGolf for 30 months and wait until then .
But how much will a 30 month old 100D cost at that time? Is the wait worth it? Thanks

 

[Dr Doom]

I don't know if I could be that patient and wait 30 months. that's almost 3 years! But keep in mind, a battery will depreciate every year. So a 100D 30 months older is going to have a drop in battery and range. How much of a drop depends on how much use that car gets.

You also have to factor in the lease costs and the cost owning the eGolf. I think honestly at the end of the day, you aren't really saving that much money waiting.

I would consider getting a CPO car now if there are any MX available that fits most of your needs. There is a P90D that is 111,000 dollars and heavily discounted. There are a ton of MS that are heavily discounted- a 85D that is 49,000 dollars that has 28,000 miles. that's an amazing deal.

 

[Quesder]

I find a deal of $7400 for 30 months including all fee and tax. Plus I can apply for California rebate $2500 and $500 pge rebate. Kind of compensate my $2500 Tesla deposit.
The car will only used for 27 miles round trip commute daily because it only has 87 miles range.

I should mention that I use financing to get the X, and the down I could give was only 50000. That is, I owe the bank 70000 and the interest rate is 2%. That is one of the reason that I think wait and buy a CPO later for 70000 in cash might be a better idea.

My mood is bad now though.

 

[Quesder]

I don't know if I could be that patient and wait 30 months. that's almost 3 years! But keep in mind, a battery will depreciate every year. So a 100D 30 months older is going to have a drop in battery and range. How much of a drop depends on how much use that car gets.

You also have to factor in the lease costs and the cost owning the eGolf. I think honestly at the end of the day, you aren't really saving that much money waiting.

I would consider getting a CPO car now if there are any MX available that fits most of your needs. There is a P90D that is 111,000 dollars and heavily discounted. There are a ton of MS that are heavily discounted- a 85D that is 49,000 dollars that has 28,000 miles. that's an amazing deal.

"an you give me a link to that model S? 85 D

 

[MagT]

I have an E-Golf as a daily driver, and the car is brilliant. Very easy and compact to drive in the city, and fun to drive on country roads. But yet, the Model X is a different world. Drove av P90DL last week, and it was a fantastic experience. Having a car that can drive itself, but also can do 0-60 mph in 5 seconds, is worth a little depreciation

 

[Dr Doom]

"an you give me a link to that model S? 85 D

85 kWh Model S 5YJSA1CN9DFP10427 | Tesla

 

[Dr Doom]

I find a deal of $7400 for 30 months including all fee and tax. Plus I can apply for California rebate $2500 and $500 pge rebate. Kind of compensate my $2500 Tesla deposit.
The car will only used for 27 miles round trip commute daily because it only has 87 miles range.

I should mention that I use financing to get the X, and the down I could give was only 50000. That is, I owe the bank 70000 and the interest rate is 2%. That is one of the reason that I think wait and buy a CPO later for 70000 in cash might be a better idea.

My mood is bad now though.

7400 dollars for 30 months is a great deal! I would definitely be considering it especially with your range needs. I don't know if the california rebate applies if you are leasing the car. but that would be a great deal if that worked out. If you want to pay for the CPO car later outright with the cash, i would think about it. a 1.8% to 2% interest rate is so low, the money you would spend paying off the car on the down deposit could be used to be put in mutual funds or even an index fund and you would make that return and possibly even more than what you would pay in interest on the car payments.

 

[Quesder]

85

7400 dollars for 30 months is a great deal! I would definitely be considering it especially with your range needs. I don't know if the california rebate applies if you are leasing the car. but that would be a great deal if that worked out. If you want to pay for the CPO car later outright with the cash, i would think about it. a 1.8% to 2% interest rate is so low, the money you would spend paying off the car on the down deposit could be used to be put in mutual funds or even an index fund and you would make that return and possibly even more than what you would pay in interest on the car payments.

That is a 85, not 85D.

What is the index fund that provides higher than 2% yield after tax?

 

[Quesder]

I have an E-Golf as a daily driver, and the car is brilliant. Very easy and compact to drive in the city, and fun to drive on country roads. But yet, the Model X is a different world. Drove av P90DL last week, and it was a fantastic experience. Having a car that can drive itself, but also can do 0-60 mph in 5 seconds, is worth a little depreciation

What is the actual range of eGolf?

 

[hmmm]

7400 dollars for 30 months is a great deal! I would definitely be considering it especially with your range needs. I don't know if the california rebate applies if you are leasing the car. but that would be a great deal if that worked out. If you want to pay for the CPO car later outright with the cash, i would think about it. a 1.8% to 2% interest rate is so low, the money you would spend paying off the car on the down deposit could be used to be put in mutual funds or even an index fund and you would make that return and possibly even more than what you would pay in interest on the car payments.

+1.

 

[Dr Doom]

85

That is a 85, not 85D.

What is the index fund that provides higher than 2% yield after tax?

sorry. miswrote it. should've been 85 instead of 85D. most of index funds have been on tear. if you had money invested right now in dow jones, the return is almost more than 15%-20% this past year.

Since the recession of 2008, the stock market has been on a tear.

Vanguard funds list - index and active mutual funds | Vanguard

Look at vanguard's returns. I know it is short sighted to look at just year to year returns but in past year- their 500 index funds- last year's return was 20+%. kinda crazy. 10 year returns-7.6%. Money spent on the down deposit could be invested and get a decent return. also capital gain taxes are reasonable right now.

 

[dragonxt]

Leasing an eGolf for 30 months and wait for Model X CPO?
My wife thinks the depreciation of brand new Telsa Model X is too much. So the compromise I can do is to lease a eGolf for 30 months and wait until then .
But how much will a 30 month old 100D cost at that time? Is the wait worth it? Thanks

In 2/12 years you won't be getting the Federal Tax Credit. There you go! That's your reason for buying now.

 

[Quesder]

In 2/12 years you won't be getting the Federal Tax Credit. There you go! That's your reason for buying now.

For CPO cars, no Federal Tax Credit at all (mostly)

 

[hmmm]

Have you explored the inventory route, i.e. discounted cars still eligible for the federal credit?

$30k discount here:

Model X P90D 5YJXCAE43GF007365 | Tesla

Ev-cpo.com is a good place to start, but I would also reach out to tesla directly as there are more inventory cars not listed online.

 

[Quesder]

It was also the ordered car price $115000 makes the problem, not just the depreciation.

 

[MagT]

What is the actual range of eGolf?

Depends on a lot of factors, so impossible to say exact. But maybe around 100 miles with normal driving. The new E-Golf have better range though, with a bigger battery.

 

[Quesder]

Depends on a lot of factors, so impossible to say exact. But maybe around 100 miles with normal driving. The new E-Golf have better range though, with a bigger battery.

The claimed range is 87 for 2016 eGolf, and you say it is around hundred? That is huge.

 

[MagT]

The claimed range is 87 for 2016 eGolf, and you say it is around hundred? That is huge.

The claimed range here in Europe is 125 miles... Guess there is different ways to measure. But remember that the claimed range really doesn't matter, because the range depends on so many factors. If you drive on fast roads, the range will be significantly shorter.

 

[Quesder]

Just get another discount, so they are selling me $7240 for 30 months.
Not signed yet though.

 

[miimura]

The claimed range is 87 for 2016 eGolf, and you say it is around hundred? That is huge.

EPA range is 83 miles on a 2016 e-Golf. 2017 model (not yet available) is 125 miles. Range tests have shown that at constant 62mph, 70F outside temp, no HVAC, the 2016 car can go 100 miles. However, I don't think it's even possible to hit all of those conditions in the NYC area for 10 minutes, much less for 100 miles straight... With the cruise control set at 45mph you could probably hit the NEDC range of 125 miles.