M3 lease transfer advice

[sk00pie]

Hi All!

Doing some early planning and could use some advice. Looking to end/transfer my M3 lease early next year and purchase a MY. This is contingent on new EV credit passing. Curious as to what would be a fair and realistic lease transfer "down payment" to ask for.

Model: 2021 Model 3 SR+
Options: White exterior with white interior
Estimated months remaining / mileage remaining at time of transfer: 12 months x 12k miles (1k per mo)
Monthly Payment: $375
Lease transfer fees: $650
Down payment: looking for fair realistic amount

 

[dmoon86]

You’re going to get answers all over the place. But here is mine. I personally would only pay $2000 max. Because, you can’t buy a tesla after. It’s essentially renting it. And if new bill passes, why would someone pay, say, $5000 down payment to RENT a Tesla for a year, when they can get $7500 and BUY one? If the bill passes, I feel lease transfers with high payment are gonna be toast.

 

[sk00pie]

You’re going to get answers all over the place. But here is mine. I personally would only pay $2000 max. Because, you can’t buy a tesla after. It’s essentially renting it. And if new bill passes, why would someone pay, say, $5000 down payment to RENT a Tesla for a year, when they can get $7500 and BUY one? If the bill passes, I feel lease transfers with high payment are gonna be toast.

Good point! The sold transfer prices I'm seeing are pretty insane. $500 a month model 3s fetching 5-8k+ down payments, figure mine is more appealing at $375 per mo. I didn't realize they could "buy you out" too basically let you walk away if what you owe is less than market value too?

 

[dmoon86]

Good point! The sold transfer prices I'm seeing are pretty insane. $500 a month model 3s fetching 5-8k+ down payments, figure mine is more appealing at $375 per mo. I didn't realize they could "buy you out" too basically let you walk away if what you owe is less than market value too?

I think you’re going to have a hard time doing a Tesla M3 lease transfer next year. With the new EV bill, they are going to give 7500 for new teslas and 4500 for used. I highly doubt anyone will do take overs for any down payment. BUT, your $375 is very attractive so I’m sure you will get someone. If you’re untested in doing it now, I’ll take it over lol.

 

[sk00pie]

I think you’re going to have a hard time doing a Tesla M3 lease transfer next year. With the new EV bill, they are going to give 7500 for new teslas and 4500 for used. I highly doubt anyone will do take overs for any down payment. BUT, your $375 is very attractive so I’m sure you will get someone. If you’re untested in doing it now, I’ll take it over lol.

Yeah that's my concern too! I'm seeing 12-24 month remaining @$500+ a month swap for $5-10k down currently. Come Jan I'm going to list it if this bill passes. Hoping I'd still get a down payment being $375 a month is way less than current cost and with no wait. Wondering IF this bill passes will tesla apply the $7500 tax credit towards leases or not. I know whoever owns the car gets the credit so they don't have to.

 

[dmoon86]

Yeah that's my concern too! I'm seeing 12-24 month remaining @$500+ a month swap for $5-10k down currently. Come Jan I'm going to list it if this bill passes. Hoping I'd still get a down payment being $375 a month is way less than current cost and with no wait. Wondering IF this bill passes will tesla apply the $7500 tax credit towards leases or not. I know whoever owns the car gets the credit so they don't have to.

Ya, but at least with Tesla, since they own finance and the company, i think they would pass it through. Looks like it’s going to pass. So good luck in January!

 

[sk00pie]

Ya, but at least with Tesla, since they own finance and the company, i think they would pass it through. Looks like it’s going to pass. So good luck in January!

Thanks! Yeah lot of stars have to align for me. Worst case are you able to sell a reservation?

 

[dmoon86]

Thanks! Yeah lot of stars have to align for me. Worst case are you able to sell a reservation?

I’ve seen people do it but it seems complicated.

 

[MP3Mike]

With the new EV bill, they are going to give 7500 for new teslas and 4500 for used.

There are pretty much 0 used Teslas that will qualify for the credit.

 

[Nainavila]

If I transfer my lease, would it disappear from my credit? I ask the question because some time ago I had a vw jetta lease and tried to transfer it but it was still in my credit.

 

[dmoon86]

If I transfer my lease, would it disappear from my credit? I ask the question because some time ago I had a vw jetta lease and tried to transfer it but it was still in my credit.

Yes it should, you can dispute it if it isnt dropped.