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Looking to Swap a Lease on Model S 90D ASAP!

Discussion in 'Tesla for Sale' started by rmsargent, Jun 17, 2016.

  1. rmsargent

    rmsargent Member

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    Location:
    Encinitas, CA
    Looking to upgrade to P90DL ASAP so I'm looking for someone to take over my current lease.

    2016 Model S 90D

    All-Wheel Drive
    Range Upgrade
    Red Multi-Coat Paint
    All Glass Panoramic Roof
    21" Grey Turbine Wheels
    Black Next Generation Seats
    Carbon Fiber Décor
    Black Alcantara Headliner
    Supercharger Enabled
    Autopilot Convenience Features
    Premium Interior and Lighting
    Smart Air Suspension
    Ultra High Fidelity Sound

    Original MSRP $110,700

    About 32 months left on the lease with about 41,000 miles to spare on the lease (monthly allowance of roughly 1,250 miles). Payment is about $1,250/month (ideally looking for $4000 down). Please contact if interested. Only serious buyers. Buyer must have good credit and apply through Tesla Leasing.
     
  2. rmsargent

    rmsargent Member

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    Forgot to mention the vehicle is located in Southern California.
     
  3. AZ Desert Driver

    AZ Desert Driver Genesis - The Beginning - MS60D in its nest

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    What is the lease buyout?
    Have you treated the battery well?
     
  4. Yuriy

    Yuriy New Member

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    good morning! i am interested in taking over you lease. i sent you a message. please contact me. thanks!
     
  5. rmsargent

    rmsargent Member

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    Buyout is $66,171 at the end of lease.
    Battery has been treated very well. Consistently charged to 90% daily per Tesla's recommendation.
     
  6. AZ Desert Driver

    AZ Desert Driver Genesis - The Beginning - MS60D in its nest

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    so, $40,000 in lease payments, plus $66,171 in buyout = $106,171 for a used car with no tax credit.
    I'm out.
     
  7. rmsargent

    rmsargent Member

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    A buyout will never be a good option on a lease. That defeats the purpose of leasing a car in my opinion.
     
  8. CapeOne

    CapeOne Member

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    Tesla lease end values are extra high because they apply the $7,500 tax credit to the residual to help lower the monthly payment.

    In the case, it appears the residual was $58,671 (53% of $110,700) plus $7,500 = $66,171.

    Either way, not a great "early buy out" buy when you consider that a new inventory Model S 90D with the same equipment (except color and décor) PLUS Subzero Weather Package can currently be had for $96K after federal tax credit or $95K with referral money.
     
    • Like x 1
  9. AZ Desert Driver

    AZ Desert Driver Genesis - The Beginning - MS60D in its nest

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    Yep - residual at $58k is not a true residual if the contract says $66k. Looks like seller made a bad deal and I don't want to be the one to bail him out. I feel sorry for him, but not sorry enough. Worth checking though!!
     
  10. CapeOne

    CapeOne Member

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    It was a normal deal for him, it's the way Tesla leases work, but not a good early buy out candidate for someone else.
     
    • Like x 3
  11. RobInAZ

    RobInAZ Member

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    When someone posts a deal like this and they say they want $4000 down, does this mean they want $4000 cash in addition to assuming the lease payments?

    Also, does Tesla give a discount for a pre-paid lease? i.e. if I paid all of the payments up front?
     
  12. rmsargent

    rmsargent Member

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    Yes, $4,000 cash in addition to the assuming the lease.

    There is no pre-paid lease discount to my knowledge, I have asked my OA and will let you know if I hear otherwise.
     
  13. RobInAZ

    RobInAZ Member

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    Serious question... Why is this a good deal vs. just leasing a new one that can be custom ordered and will have the new styling? It is about the same price.

    Also the deals I see on swapalease and leasetrader seem to be much better. This one for example 2015 Tesla Model S 85D lease $752.68 - Boston, Massachusetts 02127 (SOLD) Is $752/month and the owner is not asking for any down payment.

    Again, not trying to offend, but was thinking assuming an S lease would be perfect while waiting on delivery of the model 3. I may be better off just leasing new?
     
  14. rmsargent

    rmsargent Member

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    I paid Tesla over $10,000 when I picked up the car. I am only asking for a down of $4,000 which in its self is a savings of $6,000 for a 3.5 month old car. Also, Tesla requires a 36 month lease, so by doing a swap the new owner is getting a shorter lease then you can on a new MS.

    I don't know the exact circumstance with the car you are posting, but right off the bat I can see you're not comparing apples to apples. That car is a 2015, only has the 85kWh battery, and does not have 21" wheels (a $4,500 option alone).

    I would appreciate it if we could keep this discussion focused on my vehicle. Thanks for understanding.
     
    • Like x 1
  15. sukhi

    sukhi Member

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    OP,

    I think you are posting a very valid offer. I think $6K is a pretty good discount for a 32 months remaining lease.

    It is unfair to compare it to a purchase option

    Good luck and I am sure there would be interested folks.
     
  16. CapeOne

    CapeOne Member

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    I would expect there would be some sort of small 'discount' since part of the payment is interest which would be eliminated with an early payoff. However, a lease assumption would be the only choice here as the buyout number would still be too high.



    I don't know what residuals were last August but this seller must have put quite a bit down (over $20K) to get to a $752/month payment. An unusually good deal on a well optioned, fairly new, low miles S 85D.
     
  17. snjoynt

    snjoynt Member

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    you still need the 4K or willing to pass on that to meet the market and move quickly? We all lose money moving these cars and the downpayment unfortunately is one of those . I am shopping if interested in talking more.
     
  18. rmsargent

    rmsargent Member

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    I still have the vehicle. I will send you a message and we can discuss further.
     
  19. NikeWings

    NikeWings Member

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    Now you can upgrade to the P100DL instead!
    Sounds like you have a great car, good luck.
     
  20. rmsargent

    rmsargent Member

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    Right, thanks!
     

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