Model 3 Leasing UK

[Mr Miserable]

What kind of deals are people finding?

I see a deal on gateway 2 lease

White LR
10,000

Initial of £1,730.09 (3 months) inc VAT followed by
35 x £576.70 inc VAT per month

Does this seem like a decent deal? Anyone see anything better? Is it worth getting the maintenance package?

Thanks

I would say no to the maintenance package - I don't know how much it costs but there isn't much maintenance in comparison to an ICE. I suppose tyres are the only real expense but I wouldn't go for the maintenance package automatically.
There are a number of comparison sites that look pretty genuine and some 'pseudo' comparison sites around that compare leasing deals. I'm sure you can find them with a search engine. I don't want to link them here because I'm not sure how genuine or reliable they all are.
There are however big savings to be made by choosing your leasing deal carefully. The best advice at the moment is to scour the market and to narrow your list of possibles to about 3 brokers and then give them a call to see what is possible.
The good news is that I think some leasing companies are realising that the residuals on Model 3s are looking pretty good and so the pricing is getting keener than say a year ago.

 

[btc1k]

Caution with the Gateway2Lease website prices, I just got a full quotation and it was 10%+ higher than website prices.... with an apology that website prices have not been updated.....

 

[btc1k]

What kind of deals are people finding?

I see a deal on gateway 2 lease

White LR
10,000

Initial of £1,730.09 (3 months) inc VAT followed by
35 x £576.70 inc VAT per month

Does this seem like a decent deal? Anyone see anything better? Is it worth getting the maintenance package?

Thanks

It's not terrible but it's not a good deal either.

Generally I've found the 1% rule is a good indicator on a typical 3 month deposit and 10k miles... i.e if the monthly payment is less than 1% of the on the road cost, then it's a good deal.

On this, 1% of £49k is £490/month - so £576 is not terrible but it's definitely not a good deal.

On residuals, the funder are anticipating 57% after 3 years, not far off other marques. I am surprised actually that this is so pessimistic, I would have assumed a Model 3 would have a better residual given the taxation benefits.

 

[BigBoy]

Thanks for the replies, they have been the cheapest I've found so far, where are all the good Model 3 deals hiding?

 

[btc1k]

Thanks for the replies, they have been the cheapest I've found so far, where are all the good Model 3 deals hiding?

Not seen a good deal for a while. It could be that the taxation changes have stimulated demand to an extent where the lease companies just don't need to price them so keenly.

 

[BigBoy]

For what it's worth went with Gateway2Lease in the end, they quoted me what was on their site, and got approved for credit within a day, pretty happy. Not the best deal ever, but was £20 less a month than the next closest I could find

 

[16tablets]

Long time reader, first time poster.

As the prices in the UK have now declined. Would those of us who ordered via a leasing company back in December 2020, but have yet to take delivery, receive the reduction? I'm assuming not but before I email the leasing firm, I thought I should check with those who might have experienced this before. many thanks

 

[btc1k]

For what it's worth went with Gateway2Lease in the end, they quoted me what was on their site, and got approved for credit within a day, pretty happy. Not the best deal ever, but was £20 less a month than the next closest I could find

Well done, am sure you will enjoy it!

What was your excess ppm on that deal?

 

[btc1k]

Long time reader, first time poster.

As the prices in the UK have now declined. Would those of us who ordered via a leasing company back in December 2020, but have yet to take delivery, receive the reduction? I'm assuming not but before I email the leasing firm, I thought I should check with those who might have experienced this before. many thanks

Not generally, once you sign you are locked in to that deal.

If there is a big difference in price, you could look at paying a cancellation fee and sign a new contract.

 

[HenryT]

Long time reader, first time poster.

As the prices in the UK have now declined. Would those of us who ordered via a leasing company back in December 2020, but have yet to take delivery, receive the reduction? I'm assuming not but before I email the leasing firm, I thought I should check with those who might have experienced this before. many thanks

Have the UK prices reduced?

The website looks to quote the same prices as it has for the past several months to me.

 

[16tablets]

Have the UK prices reduced?

The website looks to quote the same prices as it has for the past several months to me.

I had read UK prices too but maybe not, apologies. Appears to be elsewhere at the moment: Tesla reduces European Model 3 pricing in several markets

 

[HenryT]

I had read UK prices too but maybe not, apologies. Appears to be elsewhere at the moment: Tesla reduces European Model 3 pricing in several markets

No problem - I'll temper my excitement then.

 

[BigBoy]

Its 9.6ppm excess, which seems very reasonable to me. Also I can't speak highly enough of the service I'm getting, my rep responds to my emails in minutes and I was approved credit within 24 hours.

Some slight weirdness though. People on here have said to order from Tesla directly and then give your RN to the leasing company to take over the order, and they confirmed they could do that, so I did. But when Tesla was informed I had passed it on to a leasing company, they cancelled the original order and created a new one, which caused confusion with me, my Tesla rep and the leasing company I've been dealing with! Apparently that's how Tesla does it now.

All sorted now, but was weird. Secondly, Tesla refused to assign a referral code to my order after the fact, despite me emailing within minutes of making the order. The second order does have a referral code applied now, so I'll get the supercharger miles.

Now just waiting for a car to be assigned to me. Exciting times!

 

[btc1k]

Great, yes that's a good ppm.

Must have been changing their prices lately, I was quoted 15.6ppm

 

[Mr Miserable]

Its 9.6ppm excess, which seems very reasonable to me. Also I can't speak highly enough of the service I'm getting, my rep responds to my emails in minutes and I was approved credit within 24 hours.

Some slight weirdness though. People on here have said to order from Tesla directly and then give your RN to the leasing company to take over the order, and they confirmed they could do that, so I did. But when Tesla was informed I had passed it on to a leasing company, they cancelled the original order and created a new one, which caused confusion with me, my Tesla rep and the leasing company I've been dealing with! Apparently that's how Tesla does it now.

All sorted now, but was weird. Secondly, Tesla refused to assign a referral code to my order after the fact, despite me emailing within minutes of making the order. The second order does have a referral code applied now, so I'll get the supercharger miles.

Now just waiting for a car to be assigned to me. Exciting times!

You did the right thing in my opinion - lots of stories on here of leasing companies not actually ordering the car but waiting to consolidate several orders to one big order. If Tesla refunded you the deposit, then things have changed but if they haven't yet, then things haven't changed much. Under the 'old' scheme they refunded you after delivery, sometimes well after delivery, and I suspect that will be the same in your case. The good news is that you know the RN and can pester Tesla to find out when you have been matched, delivery dates etc

 

[BigBoy]

You did the right thing in my opinion - lots of stories on here of leasing companies not actually ordering the car but waiting to consolidate several orders to one big order. If Tesla refunded you the deposit, then things have changed but if they haven't yet, then things haven't changed much. Under the 'old' scheme they refunded you after delivery, sometimes well after delivery, and I suspect that will be the same in your case. The good news is that you know the RN and can pester Tesla to find out when you have been matched, delivery dates etc

Tesla have already refunded me, but yeah I have a new RN now. Just awaiting a match.

 

[gm03]

Ordered an M3LR at the start of the month and my leasing company have just been in contact with a new lower leasing cost which they have passed on to me due to a price reduction.

 

[BigBoy]

Ordered an M3LR at the start of the month and my leasing company have just been in contact with a new lower leasing cost which they have passed on to me due to a price reduction.

Interesting, mind sharing what you were paying and what you're paying now?

 

[gm03]

Interesting, mind sharing what you were paying and what you're paying now?

It’s through a work salary sacrifice scheme so is cheap anyway but has reduced the monthlies by about 10 quid.

 

[RPB_65]

Hi all, new to this forum.
So, does anyone privately PCH a Tesla? Not through a company or work, purely private.
Am kinda thinking about it but keep stumbling at the fact I’ll never own it, however nor can I afford an outright purchase. LOL.
So it’s really the only way of getting what I want now.
From a very brief look around this forum’s later pages, I can already see that Gateway2lease are far cheaper than Tesla themselves by a lot of money, so what other lease options are there? Am looking at PCP too, but I dunno, I’m finding it all a little bemusing right now.
Thanks folks, Rich.