I've been debating whether to go lease or PCP. I got a decent lease quote from Octopus EV and did a quick comparison against the Tesla/Black Horse PCP.
Parameters:
Octopus EV lease - £597 x 23 + £1,792 initial = £15,523 total
Tesla/Black Horse PCP - £363 x 24 + £14,000 initial = £22,712 total
So - almost £7k cheaper on lease. That seemed a bit crazy to me at first, but then I looked at the residual on the PCP ...
That seems pretty miserable on a car with an invoice value of £50,810 after 2 years and 20k miles.
What's even more odd is clearly the lease company think the depreciation will be less than £15,523 since otherwise they'll lose money on the lease.
Am I missing something, or is the Tesla residual just plain wrong/stupid?
Parameters:
LR AWD + tow bar. £50,810 invoice. £47,310 after grant.
24 months
10k miles per year
£14k trade in on my current car which is used for PCP deposit
24 months
10k miles per year
£14k trade in on my current car which is used for PCP deposit
Octopus EV lease - £597 x 23 + £1,792 initial = £15,523 total
Tesla/Black Horse PCP - £363 x 24 + £14,000 initial = £22,712 total
So - almost £7k cheaper on lease. That seemed a bit crazy to me at first, but then I looked at the residual on the PCP ...
£27,630
That seems pretty miserable on a car with an invoice value of £50,810 after 2 years and 20k miles.
What's even more odd is clearly the lease company think the depreciation will be less than £15,523 since otherwise they'll lose money on the lease.
Am I missing something, or is the Tesla residual just plain wrong/stupid?