Leasing question

[Alex D]

Hey folks, this is a question way ahead, but I was curious. My Model S is my first leased car.
I was wondering about the process when it is time to return it. Do I just drop it off at the Tesla store? Is it exactly 3 years after I took ownership?
What is considered normal wear and tear, what is not? I try to keep the car in perfect condition, but I am curious with your experiences in the past.
Also, what would be a good time to order a new Tesla? Like 2 months before the lease is running out?

 

[Trunk Gap]

Have not returned a Tesla lease but have returned many others. General rules of thumb:

- The purpose of a lease is to keep you in payments forever vs 60 months. In other words, rule #1, they are motivated to NOT dick you over in a lease return bc the idea is you are getting out of a 3yr old car and into a new one...every 1/2/3 yrs or whatever the term of your lease is. This means minor scrapes/scratches/etc really are overlooked. As long as the tires aren't bald, you're typically fine. Creases in leather, marks on the dash, etc...no biggie. Cuts in door panels, noticeable dents (IE not a door ding) etc go beyond wear n tear.

- Most OEMs (no idea if Tesla will do this but given their sales practices to date I have to imagine they will) allow for "pull fwd" programs. IE, "hey current lease holders, if your lease expires in the next 3 months, turn it in early, we will cover your last 3 payments at no cost to get you into a new car." This historically has extended as far as 6 months with other OEMs in the past. Again, whole goal is to keep you in the cycle of new car every lease expiration. The most valuable Tesla customer is the one making a payment

 

[Alex D]

Thank you very much, this answers a lot of my questions!

 

[ucsdsig]

Hey folks, this is a question way ahead, but I was curious. My Model S is my first leased car.
I was wondering about the process when it is time to return it. Do I just drop it off at the Tesla store? Is it exactly 3 years after I took ownership?
What is considered normal wear and tear, what is not? I try to keep the car in perfect condition, but I am curious with your experiences in the past.
Also, what would be a good time to order a new Tesla? Like 2 months before the lease is running out?

If your car leased through US Bank, this is the process that I recently went through.

A couple months before your lease maturity date, US Bank will have you schedule an inspection with AutoVin. An inspector will come to your home or office and look over your car for any damage. They will inform you of any potential charges you will incur when you turn in the car.

I ended up returning the car to my original dealer and then received a final bill from US Bank a couple weeks later.

 

[AMPd]

Have a few questions as well, didn't want to start a new thread.

How would the process work if I want to buy the car?
Is the price of the vehicle negotiable if it's worth less than estimated at the start of the lease?
My lease is held by Tesla Trust

 

[wesley888]

Before you sign the lease, it has the amount of the car if you want to buy at the end of the lease. It is not negotiable.

If it's worth less than estimate, which is most likely, I would just return it, and buy a CPO to get the full CPO warranted and pay less money.

 

[ev-now]

And don't forget GAP insurance if this is your first lease (finance company, or insurance company are two places to shop price/benefits).

 

[AMPd]

Before you sign the lease, it has the amount of the car if you want to buy at the end of the lease. It is not negotiable.

If it's worth less than estimate, which is most likely, I would just return it, and buy a CPO to get the full CPO warranted and pay less money.

I can't return this car
I guess I'll just have to pay up even if I'm over paying for it.

 

[wesley888]

Yea, I was going to do the same as well. The upfront cost is much lower, even I will end up paying quite a bit more in total.