Leasing questions

[Wnuk]

Tesla has lowered their lease prices (but increased the down payment). It looks more attractive now. So for anyone that may have leased I have a question.

Does Tesla keep the federal and any State rebates with a lease or can I still claim them?

TIA

 

[rexy]

Tesla has lowered their lease prices (but increased the down payment). It looks more attractive now.

I haven't re-run the #s yet, but that above looks like a shell game.
Take the increased own payment amount, divide it by the # of months in the lease, and see if you get to the previous lease monthly payment. If yes, you know the answer.

 

[Wnuk]

Think it works out in our favor

Breaking! Tesla Slashes Leasing Costs On Model 3 — $399 A Month! | CleanTechnica

 

[sbtz]

I haven't re-run the #s yet, but that above looks like a shell game.
Take the increased own payment amount, divide it by the # of months in the lease, and see if you get to the previous lease monthly payment. If yes, you know the answer.

It is a shell game. They could offer a $1/mo lease with a big enough down payment. Speaking as someone who leased my last four cars before my first Tesla, I don't get why anyone would put a single dollar down on a lease - if anything should happen to the car that'd total it, you're out that entire down payment. For Model S leases, they (the bank) claimed the federal tax credit and applied it to the car's residual value. It may vary by state.

 

[MXWing]

Leasing a Tesla at retail value is dumb. PERIOD.

Before any business owner wants to say something:

Model X - Section 179.

Anecdotal YMMV situations don’t count.

 

[golfnut]

When I leased my Volt before buying my first Tesla, the dealer kept the Fed rebate, but in CA I was able to claim and receive the state rebate myself. Probably state specific though.

 

[MXWing]

When I leased my Volt before buying my first Tesla, the dealer kept the Fed rebate, but in CA I was able to claim and receive the state rebate myself. Probably state specific though.

For a 3 year lease you can apply for the CVRP rebate.

That particular program is just for CA.

 

[Wnuk]

Agree about putting money down on a lease, very bad idea. With Tesla, don’t think there is any way around it.

Leasing appeals to me for the following reason: I am unsure how well an EV would work in my situation and location. Nearest service is a 3 hour trip one way (yes, mobile service is an option). There are 2 SC’s near my typical travel areas but not always in the direction I am traveling. Summer temps wouldn’t be an issue but winter temps can be a problem. There are very little charging options north west of me and I travel that way frequently. Leasing would let me see how an EV would fit in those situations without committing to a purchase. I am a high mileage driver (25k a year) and have a hybrid I could still use in addition to the lease but my end goal would be to outright purchase a Model 3 if it fits for my situation.

And yes, I am self employed so I can deduct the lease and down payments if I title it to my business. I realize that I couldn’t claim the tax credits in that situation.

 

[afadeev]

It is a shell game. They could offer a $1/mo lease with a big enough down payment. Speaking as someone who leased my last four cars before my first Tesla, I don't get why anyone would put a single dollar down on a lease - if anything should happen to the car that'd total it, you're out that entire down payment.

Putting anything > $0.00 down on the lease is to be avoided, at all times.

When I leased my Volt before buying my first Tesla, the dealer kept the Fed rebate, but in CA I was able to claim and receive the state rebate myself. Probably state specific though.

Definitely not state specific.
I have leased multiple EVs before, and have corresponded with many friends who did the same. BMW has always been collecting the $7.5K Federal rebate on its books, but passing the $7.5K down to the customers as cap cost reduction.

State rebates and/or benefits go directly to the customer.

If Volt or other dealers are not doing it, it's for greed-related, and absolutely no other reasons.

For Model S leases, they (the bank) claimed the federal tax credit and applied it to the car's residual value. It may vary by state.

The above sounds right.
Should NOT vary by state, as Federal laws are very much state-independent.


a

 

[OCR1]

Leasing appeals to me for the following reason: I am unsure how well an EV would work in my situation and location. Nearest service is a 3 hour trip one way (yes, mobile service is an option).

As much as I enjoy driving my M3 and think it’s the best car I’ve ever owned, I would have extreme reservations about buying a Tesla if the nearest service center was a three hour drive. Mobile service can’t do everything and six hours round trip in a car to fix minor issues sounds daunting to me. I think you may be looking for trouble buying until Tesla opens a service center closer to your home.

 

[sbtz]

Putting anything > $0.00 down on the lease is to be avoided, at all times.



Definitely not state specific.
I have leased multiple EVs before, and have corresponded with many friends who did the same. BMW has always been collecting the $7.5K Federal rebate on its books, but passing the $7.5K down to the customers as cap cost reduction.

State rebates and/or benefits go directly to the customer.

If Volt or other dealers are not doing it, it's for greed-related, and absolutely no other reasons.



The above sounds right.
Should NOT vary by state, as Federal laws are very much state-independent.


a

Good catch, brain fart on my part - I meant to say that state incentives may vary (which, of course they do).