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You confirmed that you do not understand how leasing work. You do not understand what a residual value is. I gave you a $300 a month estimate. It doesn't matter if you borrow money for 12 months or 84 months. What matter is the APR and in today's interest rate world it's negligible. This isn't 1980 anymore.Oh, I guess I should've clarified that I was comparing the unicorn $35k version of the 3 to even a decently optioned version of the XC40 in the $39-41k range. The $35k version was the only version I placed a day 1 reservation for, and it looks like the $35k version will not qualify for the full federal tax credit and possibly may never actually end up getting built (much like the original hyped base Model X never actually got built). Plus, there are no real EV tax incentives for Washington State, other than exempting the first $32k of the MSRP from state sales tax, though I think this might be capped at a certain number of vehicles, so may not even be an option in the near future.
LOL @ $312/month for a higher end Model 3!
Prior to cancelling my day 1 reservation, the best option I found at the time was $3,500 down (reservation+order payment to Tesla), and then financing the rest at around 3-4% for 84 months, including the $1,000 destination fee (NOT ideal terms). I think the last monthly loan payment I ended up with via calculators was around $430/month, pre-tax credit. Of course, when my est. delivery window for SR got pushed to early 2019 for SR, that meant I'd have to wait for around a year (early 2020) to realize the tax credit, if it were still available/intact. But after spending a few hours with a $49k+ Model 3, I knew I would not be happy with committing anywhere near $430/month to a base model (or even the $49k version).
And I'd like for you to verify the "no maintenance on the Model 3" thing. Even if it's less than the Model S, which is $475 for the first year alone, I doubt it will be competitive with FREE from Volvo (included for the first 3 years) and the $150-200 per year I've paid to have fancy oil changes done on my 4 year-old Acura.
You confirmed that you do not understand how leasing work. You do not understand what a residual value is. I gave you a $300 a month estimate. It doesn't matter if you borrow money for 12 months or 84 months. What matter is the APR and in today's interest rate world it's negligible. This isn't 1980 anymore.
If you understood leasing you would understand my example. I won't bother doing anymore calculation since your mind is made up anyway.
The last thing I want actually is a guy like you delay the order of a tesla fan.
I will let you enjoy your new $40k Volvo SUV for $600 a month or whatever. And of course enjoy the free $200 savings in maintenance. We all know how maintening a brand new car for the first 30,000 miles or so can get very expensive!
Side note: I am actually quite confused as to what you are doing in a tesla forum talking about Volvo SUVs (a rather odd comparison). You may want to clarify what your intent is because I am not following (and I don't think I am the only one)
Well, leasing works for me in that I prefer a lower monthly obligation for use of maximum car with the option to jump into a new car every 3 years (or less). This is where all-inclusive car subscription services are going to be very appealing as they become available from more manufacturers and competitive.
Added bonus is the Volvo doesn't require premium gas like other luxury cars.
Good analysis, except I think it will likely be less than $45k in 2 years. Remember $60k is at most $52.5k after tax rebate, maybe $50k or less depending on what state you're in. Lose only $5k in 2 years? No way. Cars lose around 40-50% of value even in 2 years. EVs are evolving rapidly. In 2 years news will be out about the model Y and its improvements. Used Model S will be that much cheaper. Lots of other EVs. Battery prices dropping. LR may eventually become standard for close to $35k as battery prices come down.If you are to compare a model 3 against a lease or something like a subscription... it is likely cheaper:
- you buy it now and get $7,500 off
- tax credit will expire soon
- How much do you think a loaded $60k OTD model 3 with low miles / active warranty will be worth in 2 years? Let's be conservative and assume $45k. That's $7,500 once you factor in tax credit.
That's $312 a month, and I am very conservative. I don't even take into account state tax credit and the savings in electricity . Most likely it will be far less than your Volvo SUV... and maintenance? What maintenance? There is no maintenance on the 3.
Compare apples to apples
Good analysis, except I think it will likely be less than $45k in 2 years. Remember $60k is at most $52.5k after tax rebate, maybe $50k or less depending on what state you're in. Lose only $5k in 2 years? No way. Cars lose around 40-50% of value even in 2 years. EVs are evolving rapidly. In 2 years news will be out about the model Y and its improvements. Used Model S will be that much cheaper. Lots of other EVs. Battery prices dropping. LR may eventually become standard for close to $35k as battery prices come down.
Given 52k if 40% loss (figuring high side of resale value), you're at $31.5k in 2 years. Much lower than 45k. The end result may end up somewhere in between.
Good analysis, except I think it will likely be less than $45k in 2 years. Remember $60k is at most $52.5k after tax rebate, maybe $50k or less depending on what state you're in. Lose only $5k in 2 years? No way. Cars lose around 40-50% of value even in 2 years. EVs are evolving rapidly. In 2 years news will be out about the model Y and its improvements. Used Model S will be that much cheaper. Lots of other EVs. Battery prices dropping. LR may eventually become standard for close to $35k as battery prices come down.
Given 52k if 40% loss (figuring high side of resale value), you're at $31.5k in 2 years. Much lower than 45k. The end result may end up somewhere in between.
The tax rebate is about to end. Not people many people will get the rebate. Depreciation will be assumed at the full price....
Who cares about depreciation or rebates or anything of the kind when "like me" you keep your cars for 15 years? lolIt's a $60K Tesla and not a $52.5K Tesla once the tax rebate is gone.
$40K is what I believe to be value after 2 years. We will see what the lease residuals look like.
$45K might be optimistic but $31.5K is nothing for a car like this.
No one will sell their AWD+LR Model 3 for $31.5K after 2 years under ordinary circumstances.
Wow, now here is another man who gets it. Also nice graph but I didn't need to see it or crunch numbers. Common sense would of determined that 50% depreciation was economically impossible.
Who cares about depreciation or rebates or anything of the kind when "like me" you keep your cars for 15 years? lol
I believe Tesla and possibly other evs will be the smartwatch of cars.Who cares about depreciation or rebates or anything of the kind when "like me" you keep your cars for 15 years? lol
Im in this camp.Who cares about depreciation or rebates or anything of the kind when "like me" you keep your cars for 15 years? lol
That has been my strategy in the past, I kept a previous car for 25 years until I hit a deer and destroyed it.Who cares about depreciation or rebates or anything of the kind when "like me" you keep your cars for 15 years? lol
Who cares about depreciation or rebates or anything of the kind when "like me" you keep your cars for 15 years? lol
The repair cost to keep a Tesla on the road will make it very hard to drive your Tesla for 15 years. Tesla is trying to keep parts and repairs to themselves. Then there is the battery pack that will not last 15 years.
Currently, I agree.
However, if there are millions of 3's on the road 10 years from now, I don't doubt that there will be a robust secondary market.
The tax rebate is about to end. Not people many people will get the rebate. ...