To put actual numbers down to see why this is such a great deal for tesla, I leased this stealth performance for total price of $52,190 and residual value of $35,798. So if I was allowed to buy it, come July I could have bought it for $35k. But right now stealth performance would sell for around the same price of $~50k. So Tesla must be super happy they got all these payments over 3 year period, and now get to take the car back and sell it at the same price again. Good for them, I just wish I had the option to buy because if I did I would have bought it and sold it right away to get that profit. Lol
-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
Model 3 Performance Stealth lease ending July - struggling to decide on next car
- Thread starter derekmw
- Start date
redmunds
Member
Fair enough. But, taking a car back and reselling has a real cost to it, so I would think they give you a reasonable offer (~45k?) to make their own life easier.
Yeah, I would love to take it even at that price. But the lease contract specifically states I cannot purchase it at end of lease. Good part is, it seems I can just lease it again come July. I tried building a performance model now, and it says delivery by February 2022. Only downside is I can't get a Stealth anymore.
RobDickinson
Active Member
Teslas plan was to use the returned leased cars as robotaxis , obviously not going to be a thing this year but 2023/24 or so on wards perhaps.
And if not they have a car thats been significantly funded by the leaser to onsell.
And if not they have a car thats been significantly funded by the leaser to onsell.
So July is fast approaching. So far I'm thinking of several options, with ultimate goal to just get into a Rivian once my reservation number comes up (most likely late 2023 they said).
1. Take over a lease on a Model 3/Y that has 12-15 months left
2. Extend the current lease (but only able to extend it 6 months)
3. Buy another Model 3/Y and sell it once Rivian reservation is up
4. Buy an EV that still has full fed tax rebate left (ID.4, Ioniq 5 or possibly even Toyota/Subaru EV but probably not out in time) - and sell once Rivian reservation is up
Out of those, I like option #4 since I can get some good tax relief - although I wonder how much value those other EV's will depreciate (that is if analysts are correct in saying used car prices will start to level back end of this year and return to normal prices in 2023).
Model 3/Y will depreciate the least but you don't get any tax rebatge anymore which I hate.
Any other options other can suggest? I know this is a Tesla forum but for my vehicle usage, a truck just makes more sense so ideally my next vehicle is an EV truck. Ford is a no for me.
1. Take over a lease on a Model 3/Y that has 12-15 months left
2. Extend the current lease (but only able to extend it 6 months)
3. Buy another Model 3/Y and sell it once Rivian reservation is up
4. Buy an EV that still has full fed tax rebate left (ID.4, Ioniq 5 or possibly even Toyota/Subaru EV but probably not out in time) - and sell once Rivian reservation is up
Out of those, I like option #4 since I can get some good tax relief - although I wonder how much value those other EV's will depreciate (that is if analysts are correct in saying used car prices will start to level back end of this year and return to normal prices in 2023).
Model 3/Y will depreciate the least but you don't get any tax rebatge anymore which I hate.
Any other options other can suggest? I know this is a Tesla forum but for my vehicle usage, a truck just makes more sense so ideally my next vehicle is an EV truck. Ford is a no for me.
Unfortuantely yes. I would totally buy it if I could, even if I just sell it once I can get into an EV truck. The car is a blast. There's a reason I'm on my 3rd Tesla now. lol.
Especially right now though, being able to buy the Model 3 would have been nice with a residual of $35.7k but being able to sell it right now for more than the purchase price is amazing.
Guess that makes sense for Tesla. Take the car back and sell it for a profit in a matter of weeks. Seems like a no brainer.
Yeah, for sure. I don't blame them.
My wife would rather we get another Tesla since they hold their value well, but if I'm going to buy a new EV, I prefer to get the tax rebate. Of course that is mute point if the car depreciates like crazy - which if used car prices come back down by next year is a real possibility for a VW or Hyundai EV...that's my worry.
We're sort of in the same boat. Our X was leased through Sep 22 with a Rivian reservation that's supposed to arrive in 2H'23. So, we bought out the X, and we'll keep it until we replace it (if we do). Back to your question, it's quite questionable whether Rivian will stick to their timetable. They seem to have a really hard time ramping up manufacturing, and I wouldn't be surprised if 2H'23 ends up being some time in 2024. I certainly hope I'm wrong, but it's also a distinct possibility. As such, I'd buy another EV. As to which one is the most cost effective over next 18-24 months, that's anyone's guess. There are too many factors at play to guess. Does Tesla still allow you to co term your lease with the delivery of a new Tesla?
Brando
Active Member
Seems EVERY ONE goes thru production hell on any new EV model, right? Which company has not ??
As Elon said many times, prototypes easy, production not so much.
Yes, that of course is an option, but one big change in my circumstances is that I no longer can write it off as part of a business vehicle. So now it doesn't really make sense to lease it. And if I'm going to purchase one, I would prefer to get the tax benefits which unfortunately no longer exist for Tesla vehicles.
Tesla's do hold their value better than other EV's but my thought lately is that if I buy an interim EV and get the Fed and CA tax rebates, the hope is to sell it once my Rivian reservation is up and still come up close to even.
So after test driving the Ioniq 5 and EV6, we definitely thought the EV6 seemed nicer, but still either one was just 'ok'. On top of that, almost every dealer is adding markup. Like rediculous markup. The Kia dealership I went to added $7500 markup for 'limited quantities'. Forget that. Then they had their own paint protection and security protection that added another $3k. They were actually asking $67k for the car!
I just placed an order for the RWD model 3 under my wife's name. With the $2500 CA rebate and $750 fuel incentive, the price prior to fees/taxes is $43,400. That is not a bad price, combined with the fact that you can charge it to 100% on a regular basis.
I think this will do well to hold us over until either Truck reservation comes up. What do you think? I like that all my accessories can carry right over since I had to buy all of those - and all these dealerships nickle and dime you as well for every little add-on.
Only thing I wonder is whether the Awd or Performance will hold value better. My primary goal is to try to minimize our loss to as little as possible when we get into the next car in a year or so.
On a side note: I laughed that one Kia dealership said they had to run my credit to allow me to do a test drive. I laughed and left. You have got to be kidding me if you think I'm going to let you do a hard query (I confirmed, they said it will be a hard query) on my credit just so I can drive a Kia. Umm, no....hard pass.
I just placed an order for the RWD model 3 under my wife's name. With the $2500 CA rebate and $750 fuel incentive, the price prior to fees/taxes is $43,400. That is not a bad price, combined with the fact that you can charge it to 100% on a regular basis.
I think this will do well to hold us over until either Truck reservation comes up. What do you think? I like that all my accessories can carry right over since I had to buy all of those - and all these dealerships nickle and dime you as well for every little add-on.
Only thing I wonder is whether the Awd or Performance will hold value better. My primary goal is to try to minimize our loss to as little as possible when we get into the next car in a year or so.
On a side note: I laughed that one Kia dealership said they had to run my credit to allow me to do a test drive. I laughed and left. You have got to be kidding me if you think I'm going to let you do a hard query (I confirmed, they said it will be a hard query) on my credit just so I can drive a Kia. Umm, no....hard pass.
Last edited:
it was going to be a hard query because they wanted to pitch you loans. They aren’t doing anything that most brands aren’t doing wrt the markups. I won’t pay those either. However, I drove both cars and thought they were quite good, with nice interior space. I would get one but will prob go M3P over price.
im not sure about your, ”I can charge it to 100% everyday.” My Teslas, Raven S and MYP, I was told for everyday use 80%, trips can be charged a bit higher. Both the Hyundai and Kia ”can” be charged to 100% as well if you want. Also, what I liked about those two was the fantastic charging curve.
IMHO, they were just as good, some professional reviewers liked them better, but to me the price is a killer. I can get a IONIQ 5 for 1900 over MSRP but I won’t even do that.
The only other car I’m test driving before the M3P order is a Polestar 2, which is very similar in size as the Tesla but with a hatch. It’s a bit more money, but can be had for MSRP and the leases are highly incentivized.
Given you are in CA, I’m sure AWD is unnecessary. I think all 3 variants will do fine in resale. My friend just sold his 2019 AWD for quite a bit of money to Carvana to get a new model Y.
Good luck with the new wheels, given you have experience you’re sure to like it.
im not sure about your, ”I can charge it to 100% everyday.” My Teslas, Raven S and MYP, I was told for everyday use 80%, trips can be charged a bit higher. Both the Hyundai and Kia ”can” be charged to 100% as well if you want. Also, what I liked about those two was the fantastic charging curve.
IMHO, they were just as good, some professional reviewers liked them better, but to me the price is a killer. I can get a IONIQ 5 for 1900 over MSRP but I won’t even do that.
The only other car I’m test driving before the M3P order is a Polestar 2, which is very similar in size as the Tesla but with a hatch. It’s a bit more money, but can be had for MSRP and the leases are highly incentivized.
Given you are in CA, I’m sure AWD is unnecessary. I think all 3 variants will do fine in resale. My friend just sold his 2019 AWD for quite a bit of money to Carvana to get a new model Y.
Good luck with the new wheels, given you have experience you’re sure to like it.
I see, I knew dealers in the past have done that for high demand cars, but I don't ever recall seeing such a high markup for the price of the car. $7500 seems excessive. But yeah, I found other dealerships that would let me test drive without demanding to run my credit.
Sorry, I should have been more clear. I was just stating that it's recommended to charge these to 100% (the LFP batteries): 2022 Tesla Model 3: Charging to 100% can be the norm for 272-mile LFP version. Usually I have my car set to 90% and if I know I'll be doing a trip, I set it to 100% and try to keep the period it sits at 100% minimal. But there were times I forgot only to realize right before doing the long drive that I didn't charge to 100%, or after the trip forgetting to lower it, and waking up next day realizing I charged to 100%. This will just take a lot of that inconvenience away and truly have the full 272 mile range available daily which I think is nice.
Yeah, I've also seen so many videos that raved about the Ioniq 5 but it just had a cheap feeling inside for us. The EV6 really did impress us though. The interior felt so much better. In any case though, like you said the price point compared to the RWD model 3 doesn't seem like that good of a deal.
That's the one car I did research on but didn't test drive. I should look at those lease incentives you mentioned. Only thing I saw as draw back was the charging speed - maybe I'm being picky but if I don't have the tesla network, I wanted a car that could charge with minimum time - like the Ioniq 5/EV6
I think so too, except that the RWD is the only mode that qualifies for the $2500 CVRP, am I correct? But in any case, I will see if we keep this or end up choosing the AWD LR instead.
Thanks for all the input.
@derekmw I’ve seen some cars with 25-50k markups. I bought a new loaded Bronco and got it at MSRP as a pre-order. I’ve seen mine at 25k and first editions at higher. 2021 Raptors are getting 50k in some places.
We looked at a mustang Mach-e GTPE and it was 10k. Im ok at MSRP but won’t buy anything at over. If you look at Tesla’s pre-owned inventory on their web site they’re selling at quite high given the shortage.
We looked at a mustang Mach-e GTPE and it was 10k. Im ok at MSRP but won’t buy anything at over. If you look at Tesla’s pre-owned inventory on their web site they’re selling at quite high given the shortage.
@Zer0t Yeah I saw that! I'm with you on paying over MSRP. We thought maybe a used Tesla but the prices were almost new price so it just didn't make sense. We have time, our order won't deliver until August but that's just perfect timing wise. And in the meantime, if something else better comes along, $250 is a small price to pay to have this as backup.
I was looking at the Polestar 2 out of curiosity. The price is ok, where if I choose a non-black (I won't do a black colored car), it is $48400. They have an incentive of $2k off until the end of the month. So with that plus the Fed Tax rebate and CVRP, I could get it for $36,400 which isn't too bad at all.
A few things I don't like about it is the charging speed, having to add Pilot and Plus trim to get some of what comes stock with the Model 3, and that it only comes in cloth-like seats (WeaveTech).
Does anyone have experience driving one who's owned a Model 3?
A few things I don't like about it is the charging speed, having to add Pilot and Plus trim to get some of what comes stock with the Model 3, and that it only comes in cloth-like seats (WeaveTech).
Does anyone have experience driving one who's owned a Model 3?
@derekmw i test drove a Polestar and it’s quite nice to be honest. I liked the styling, fit and finish. I look at everything tbh; Mach-e, Ev6, IONIQ5, Volvo (c40, cx40), Polestar 2 and they were all quite nice. I ordered a new M3 today and no regrets after looking at all those cars.
My opinion is the Model 3 was just a bit better than each of them. i like the M3 styling, totally subjective, but ride, features, range, charging speeds, etc made me think the M3 was an easy buy. Also the SC network is still superior to others.
i do have non-Tesla EV as well so I try to be as objective as possible. Lastly, used Teslas even from Tesla, are too expensive. I’d rather wait for a new one.
My opinion is the Model 3 was just a bit better than each of them. i like the M3 styling, totally subjective, but ride, features, range, charging speeds, etc made me think the M3 was an easy buy. Also the SC network is still superior to others.
i do have non-Tesla EV as well so I try to be as objective as possible. Lastly, used Teslas even from Tesla, are too expensive. I’d rather wait for a new one.
Last edited:
Similar threads
