wow, where did you find a rate that low for 72 months? I was able to find 1.97% for 60 months, 2.47% for 72 months and 3.47% for 84 months.I am not against leasing, but have never leased simply due to the mileage limits being too restrictive for me. I know the math can, and sometimes does, favor leasing, especially now with some folks able to work from home and driving a lot less than usual. However, some employers are requiring staff to return to the office in the coming months so that makes the mileage piece unpredictable again.
We are still awaiting delivery of our Y and will stick to a loan instead of a lease. I definitely supported a lease if someone was buying a Model S back in 2015 or so because I could see prices falling as they offered more standard equipment. Now though I don't see Teslas getting much cheaper, and prices have been steadily climbing for all their models and demand is sky high.
The other factor is the low interest rates. Historically, I do a 36-month loan but we are approved for 1.79% (or 1.24% with direct deposit) for up to 72 months. At those terms, the difference between lease vs loan is only $50-100. With a 72-month loan, I could take the money saved from the lower payment (compared to 36-month term) and confidently invest that and easily offset the extra interest on the longer loan term. On top of that, if my proclivities change then I can sell the Model Y at any time, whereas a lease locks me in for 36 months and is a little trickier to get out of.
TL;DR version: With potential for more driving as the pandemic recovers and low interest rates, I'm more comfortable with the flexibility of loan over lease.