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New 2 year lease offer?
- Thread starter SD_Engnr
- Start date
singleview
Member
singleview
Member
No, the $7500 federal tax credit goes to the leasing company, it also artificially raises the residual value.
Hi, @carter_seattle,
Thanks for sharing this spreadsheet!
Nit: I think you are double-counting down payment+trade-in when computing Total Cash. Total Cash should be F4+F11 without also adding in F7, which has previously been included as part of the sum in F11. But I'm not sure Total Cash is used anywhere else, so it may not matter.
carter_seattle
Member
@Pollux You're totally right! I've corrected the spreadsheet.
Now all we need are some legit numbers around the residual
No, you cannot claim it. The $7500 Federal tax credit goes to the owner, which wouldn't be you.
It goes to the leasing company or automaker which can pass between $0 to all of it onto you in the form of a cheaper lease. In the case of my Leaf and all of them, on the paperwork, it looks like you made a $7500 down payment upfront.
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AZ Desert Driver
Rare combination
I've been looking at this all wrong. Basic questions is - my configuration cash price is $71,500. Is the car worth it? yes/no?
Two year lease, three year lease, 6 year payment, sell mutual fund...all are just ways to pay for the toy. Is it worth it?
If Yes - then keep the car for years and years.
If NO - then how you pay does not matter. Its not worth it.
enter the timing question- wait for V8.0, wait for AP2, wait until fleet has established depreciation, wait until $7500 tax credit expires, wait until stock market hits an all time high and sell high before the market collapses (yeah, pick that one). Why wait until Sept 14?
Two year lease, three year lease, 6 year payment, sell mutual fund...all are just ways to pay for the toy. Is it worth it?
If Yes - then keep the car for years and years.
If NO - then how you pay does not matter. Its not worth it.
enter the timing question- wait for V8.0, wait for AP2, wait until fleet has established depreciation, wait until $7500 tax credit expires, wait until stock market hits an all time high and sell high before the market collapses (yeah, pick that one). Why wait until Sept 14?
carter_seattle
Member
AZ, check out this thread. Sometimes a lease can be a great deal, and that doesn't take into account potential tax advantages depending on where you live:
Snagged a P90D Inventory car for $700/mnth on the new 24 month lease
Snagged a P90D Inventory car for $700/mnth on the new 24 month lease
singleview
Member
Here's what I just got offered from my Tesla dealership in town (see attached). What do you guys think??
Worth it?
I've never been a "lease" guy, but I'd love your thoughts on this offer - - - depending on this forum to help me make a wise decision.
Thanks!
View media item 115761
Worth it?
I've never been a "lease" guy, but I'd love your thoughts on this offer - - - depending on this forum to help me make a wise decision.
Thanks!
View media item 115761
Larry
Member
One thing I would be careful to keep in mind is that you will put more mileage on your S then on any other car you've ever owned. The 15000 limit is not that much in my opinion and 25 cents per mile can add up.
NukePower
Member
No it's not a good deal. You'll pay almost half of the price of the new car in two years...To me, it only makes sense to get a 2-yr lease for an inventory 2015 MS or a new 2016 S60.
singleview
Member
Good point. Right now, my annual mileage is less than that, but I hear what you're saying and feel that I WILL want to drive more of this!
Would YOU get this Model S for that lease? Is this 2 year lease offer a good offer? I just have not done leases before and am not very informed!
Thanks!
singleview
Member
Thank you... that makes sense...
Wondering if I should wait for a few weeks then before pulling the trigger (Autopilot 2.0 etc)...? I'm hearing there may be some announcement coming mid-Sept?
Larry
Member
Someone may be able to show you how to do this but just in case ... I could not figure it out so ended up going into my local Tesla store and they were very good about showing me the inventory cars that were available. Took about 15 minutes to find the car I wanted. If you are not near a store I'm sure you can call or email Tesla and they'll have someone call and help you. From what I can tell and has been posted in other threads, the best lease prices on inventory models seem to come from the cars with the largest discounts, although there is typically a reason for the discount (e.g., pre-refresh and high demo mileage) so there are trade-offs.
My sales person, Aaron Schenck, has been awesome to work with to find inventory cars:
Aaron Schenck | Gallery Advisor
p 480.946.3735 | c 480.689.6725 | e [email protected]
Just to add a quick note to add here. On a new leased vehicle with existing miles on it, the residual value at lease-end is adjusted down typically by the current mileage x 20 cents per mile.
Example:
MSRP 100,000 x 60% residual = $60,000 lease-end value.
Vehicle has 10,000 miles x .20 per mile = $2000 adjustment
Adjusted lease-end value is now $58,000
MSRP: $100,000
SALE: $80,000
ADJ RESIDUAL: $58,000
Example:
MSRP 100,000 x 60% residual = $60,000 lease-end value.
Vehicle has 10,000 miles x .20 per mile = $2000 adjustment
Adjusted lease-end value is now $58,000
MSRP: $100,000
SALE: $80,000
ADJ RESIDUAL: $58,000
singleview
Member
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