Model 3 Leasing UK

[darkknight123]

Heard any more on this? Just got a new ALD list from our business and it includes the M3 LR RWD & AWD, but no word on which versions this would be

“Mid November” is the latest (which tallies up with another poster saying Octopus EV had informed them of the same).

There isn’t a LR RWD that I’ve seen with the refresh only AWD so I suspect the current ALD list is based on the old M3. You may want to hold off a few weeks.

 

[Steve-R]

It looks like Octopus EV have updated their website, but have for the details for the models wrong

The most expensive (presumably the AWD LR) is showed as RWD in the estimated mileage description and when you try to configure it only shows white, blue, black which are the colours for the RWD LR but it calls out the new wheels.

They seem to have the 2022 "Long Range" showing as AWD and you see the 5 colours to choose from yet the pricing is similar to the RWD LR.

I'm currently torn as to whether to go for what I think is the RWD LR with the storks, or go for what I think is the AWD highland, which I sat in the LHD version today, but I'm holding off to see if they update the descriptions

 

[Steve-R]

Octopus EV have updated their site so that the AWD is correctly displayed and has the right colour options, interestingly the LR RWD has gone again, although not surprising.

Despite the highland refresh costing slightly less outright from Tesla, the current pricing from Octopus actually makes it more expensive per month than the old version.

 

[Gazmayo]

Octopus EV have updated their site so that the AWD is correctly displayed and has the right colour options, interestingly the LR RWD has gone again, although not surprising.

Despite the highland refresh costing slightly less outright from Tesla, the current pricing from Octopus actually makes it more expensive per month than the old version.

View attachment 988861

Hi - how much more expensive are they looking? I’ve seen someone on Facebook saying their salary sacrifice quote is showing as £325 more than it was for the older model. Sounds too high but guess it could be true as this is a new model…

 

[Steve-R]

Hi - how much more expensive are they looking? I’ve seen someone on Facebook saying their salary sacrifice quote is showing as £325 more than it was for the older model. Sounds too high but guess it could be true as this is a new model…

If I had kept to the same 3 year term, the highland AWD works out to be around £107 per month more expensive, after tax than the previous version, despite costing basically the same.

Which is why I've now changed to a 4yr plan to reduce it a bit and have sent feedback to them via the person I've been dealing with as it's quite a jump in financing in the 2 months since I originally tried ordering, not that it will do any good.

I know I could just have gone for the RWD, but I wanted the range for work trips (and the former boy racer in me wanted the faster 0-60 and audio!) Yes, it's more expensive, but it still works out cheaper than getting it privately as the insurance quotes I've seen have been awful plus I keep that payment in the bank.

 

[HenryT]

Octopus EV have updated their site so that the AWD is correctly displayed

View attachment 988861

I don't think they have got it right. The range and 0-60 are both wrong for the AWD M3.

 

[Steve-R]

I don't think they have got it right. The range and 0-60 are both wrong for the AWD M3.

Given the 0-60 was shown as 5.9 over the weekend and now it's 4.4 I'd say it's as right as will be.

Also they don't use the fairytale wltp ranges

 

[FastLaneJB]

Octopus EV have updated their site so that the AWD is correctly displayed and has the right colour options, interestingly the LR RWD has gone again, although not surprising.

Despite the highland refresh costing slightly less outright from Tesla, the current pricing from Octopus actually makes it more expensive per month than the old version.

View attachment 988861

That’s because finance is more expensive.

 

[HenryT]

Given the 0-60 was shown as 5.9 over the weekend and now it's 4.4 I'd say it's as right as will be.

Also they don't use the fairytale wltp ranges

Still wrong then, but not as wrong as it was.

If they make up their own numbers they should say so.

 

[Steve-R]

I get that, I just called it out as had ordered an AWD in September for less but had the order cancelled/prevented by Tesla. I know finance is shocking but most rates had at least slowed I thought.

That’s because finance is more expensive.

They don't seem to make their own numbers up, as those stats are on the EV database

Still wrong then, but not as wrong as it was.

If they make up their own numbers they should say so.

 

[FastLaneJB]

I get that, I just called it out as had ordered an AWD in September for less but had the order cancelled/prevented by Tesla. I know finance is shocking but most rates had at least slowed I thought.

They don't seem to make their own numbers up, as those stats are on the EV database


View attachment 989049

Tesla was running Model 3 at a much lower APR to shift stock. Now they have a new design which they’ll have an increase in demand for a bit so they don’t need to discount them with a lower APR.

This is why you can get a Model Y now for less, even though it costs more because it has a much lower APR. No refresh there and EV demand is lower at moment so they need to incentivise people.

Just my guess but if you can wait, I’d guess Model 3 APR will drop quite a bit in 6 months, maybe a bit less once initial Highland demand drops off.

 

[Steve-R]

Tesla was running Model 3 at a much lower APR to shift stock. Now they have a new design which they’ll have an increase in demand for a bit so they don’t need to discount them with a lower APR.

This is why you can get a Model Y now for less, even though it costs more because it has a much lower APR. No refresh there and EV demand is lower at moment so they need to incentivise people.

Just my guess but if you can wait, I’d guess Model 3 APR will drop quite a bit in 6 months, maybe a bit less once initial Highland demand drops off.

You presume Octopus/Fleet finance is based on what Tesla is offering. He may be wrong but the Tesla guy I spoke with when I did a test drive said Octopus buy them as "cash" as far as Tesla is concerned so it's not dependent on the finance offers Tesla are using to shift stock.

Either way, it is what it is and I'm prepared to pay as wouldn't get one if not through the scheme.

 

[FastLaneJB]

You presume Octopus/Fleet finance is based on what Tesla is offering. He may be wrong but the Tesla guy I spoke with when I did a test drive said Octopus buy them as "cash" as far as Tesla is concerned so it's not dependent on the finance offers Tesla are using to shift stock.

Either way, it is what it is and I'm prepared the pay as wouldn't get one if not through the scheme.

Just because they pay cash to Tesla doesn’t mean they don’t use finance behind the scenes. I mean I don’t know that they do or don’t, but I suspect a finance puts the risk of depreciation onto the finance company so they can be more sure their deal is sound for them. I feel that would be a sound play considering Tesla can adjust prices anytime they see fit with big swings sometimes.

Even if not and it is cash, they know its new and will have higher demand so can charge a bit more for it.

Hey not saying don’t go for it. I’ve done the same in the past with new model of cars I’ve wanted. You just have to accept that in those cases there’s no deals to be had but after a while they start to appear. It’s just how it works.

 

[Steve-R]

Just because they pay cash to Tesla doesn’t mean they don’t use finance behind the scenes. I mean I don’t know that they do or don’t, but I suspect a finance puts the risk of depreciation onto the finance company so they can be more sure their deal is sound for them. I feel that would be a sound play considering Tesla can adjust prices anytime they see fit with big swings sometimes.

Even if not and it is cash, they know its new and will have higher demand so can charge a bit more for it.

Hey not saying don’t go for it. I’ve done the same in the past with new model of cars I’ve wanted. You just have to accept that in those cases there’s no deals to be had but after a while they start to appear. It’s just how it works.

I totally get that, and they have to use their own finance rather than using all of their cash injection, I just meant they weren't likely to be using the rates Tesla is using (like the 0% to clear out the LR RWD) I was just calling out that their jump in price might not have been to do with the finance offers available from Tesla and what the difference a couple of months made.

I don't think the fact that the refresh is new is the reason the prices have gone up for Octopus, I just presume their finance rates have changed and they're having to charge more.

 

[starharbour]

Just ordered a 2024 M3 LR, blue, white seats, stock wheels
20k miles per year on a 4 year term through Tusker on company salary sacrifice. here's the quote. Been told by tusker "to expect" 25 weeks but hopefully Q1 2024 delivery.

 

[gangzoom]

Just ordered a 2024 M3 LR, blue, white seats, stock wheels
20k miles per year on a 4 year term through Tusker on company salary sacrifice. here's the quote. Been told by tusker "to expect" 25 weeks but hopefully Q1 2024 delivery.

View attachment 994605

£1000/month gross cost to hire a Model 3 for 4 years.....someone is making £££££!!!

 

[starharbour]

Yes, Tusker are raking it in.. then selling the car after 4 years.. Money machine.

 

[MadManMark]

Just ordered a 2024 M3 LR, blue, white seats, stock wheels
20k miles per year on a 4 year term through Tusker on company salary sacrifice. here's the quote. Been told by tusker "to expect" 25 weeks but hopefully Q1 2024 delivery.

View attachment 994605

Does the gross reduction include insurance and servicing/maintenance (pretty much just tyres for a Tesla)? My current salary sacrifice lease gross monthly reduction for a model 3 LR 3 yr/20k miles including insurance and maintenance is £832 - lease started in September 2021.

 

[starharbour]

Yes, insurance for me and addl driver, maintenance including tyres, courtesy car if breakdown and home charger installed

 

[MrT3]

Yes, insurance for me and addl driver, maintenance including tyres, courtesy car if breakdown and home charger installed

Then the price is about right given the current interest rates.