Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.
Register

New Lease numbers seems very high

bell2041

Member
Mar 17, 2018
171
56
Brooklyn
Hello, My Tesla 75D is in route to me now and Tesla sent me a Lease Estimator.

MSRP is $97,750 + $4870 NY Tax, (Money Factor 5.04%) (12K miles)
with $7500 Due at signing, my monthly payment is set to $1,433

I looked at swaplease.com to see what people are paying and not sure why but my price is very hight.

For example
1. 2017 Tesla Model X lease in Brooklyn, NY
The MSRP of this car is $102K and the monthly payment is $1,284.06 per month

2. 2017 Tesla Model X lease in Jamaica, NY
The MSRP of this car is $114K and the monthly payment is $1,141 per month

I understand that this is might be an inventory or showroom car that was sold with discount, but I don't see any car 75D at the same price as I got.

Please share your thoughts
 
Last edited:

Peteybabes

redneck drivin' a tesla...
Apr 8, 2016
1,235
688
'murica
you're right, way more than when i leased mine...even the starting lease used to be like $600-$700 for a Model S 75 for 24 months.

now at 36 months a 75D is over $1000 with not many options...

my 7-seat model x P90D $1183/month...these days seem long over. (MSRP $138K reduced to $111K as a Demo)
 

outie

Active Member
May 22, 2016
2,739
2,342
SoCal
Please keep in mind the ones you see on swaplease are very likely inventory cars in the first place so the comparison is moot.
 

jeffro01

Active Member
Jan 30, 2013
2,692
1,958
Teller County CO
That's exceptionally high which either means your credit doesn't qualify you for a better MF or Tesla is having problems getting reasonable rates...

Jeff
 

bell2041

Member
Mar 17, 2018
171
56
Brooklyn
Yeah, but they will ask me why do I think it high?
I'm trying to understand logically based on numbers given why is that so hight

ps. they took my $2500 deposit already, so can't just walk away :)
 

Krazaak

Member
Jul 30, 2017
903
1,000
Charlotte, NC
That's the same MF Tesla's been offering since I bought mine last July when I got 0.99% to purchase. It's a horrible money factor and it only makes sense when you've got a showroom adjustment that gets tacked onto the residual, making the depreciation seem much lower.

5.04% MF translates to a 12.1% APR and it doesn't get any better with higher credit.
 

Zaphod

Galaxy President (former)
Dec 10, 2015
2,160
1,959
Austin, TX
Hello, My Tesla 75D is in route to me now and Tesla sent me a Lease Estimator.

MSRP is $97,750 + $4870 NY Tax, (Money Factor 5.04%) (12K miles)
with $7500 Due at signing, my monthly payment is set to $1,433

I looked at swaplease.com to see what people are paying and not sure why but my price is very hight.

For example
1. 2017 Tesla Model X lease in Brooklyn, NY
The MSRP of this car is $102K and the monthly payment is $1,284.06 per month

2. 2017 Tesla Model X lease in Jamaica, NY
The MSRP of this car is $114K and the monthly payment is $1,141 per month

I understand that this is might be an inventory or showroom car that was sold with discount, but I don't see any car 75D at the same price as I got.

Please share your thoughts
This is main reason why --> Money Factor 5.04%. Technically the money factor is 0.0021 and 5.04% is the equivalent APR. So basically you are paying "loan" based on 5% interest rate. Tesla leases have always been horrible, especially how they handle the tax credit by incorporating into the residual value and not into cap reduction. Only reason it made sense to lease is if someone can utilize it as business/tax write-off. You are probably better off looking into loan instead as you can surely get better rate and (assuming) you can utilize the full tax credit yourself.
 

outie

Active Member
May 22, 2016
2,739
2,342
SoCal
That's exceptionally high which either means your credit doesn't qualify you for a better MF or Tesla is having problems getting reasonable rates...

Jeff
That’s probably the standard lease rate they offer. Tesla leases have always been high when you compared to German makers that subsidize their leases with both MF and inflated residual. However leases are much more favorable when it’s an inventory car because all the adjustments come as capital reduction and residual is still based on original MSRP.
 

Krazaak

Member
Jul 30, 2017
903
1,000
Charlotte, NC
This is main reason why --> Money Factor 5.04%. Technically the money factor is 0.0021 and 5.04% is the equivalent APR. So basically you are paying "loan" based on 5% interest rate. Tesla leases have always been horrible, especially how they handle the tax credit by incorporating into the residual value and not into cap reduction. Only reason it made sense to lease is if someone can utilize it as business/tax write-off. You are probably better off looking into loan instead as you can surely get better rate and (assuming) you can utilize the full tax credit yourself.
If they're actually reporting the APR in place of the money factor, that's still bad, but not as bad as if the money factor is really .00504.
 

Stasla

Member
Mar 30, 2016
390
154
New York
Have you considered financing? You can still get a decent rate and if you have a trade, NY state will only apply sales tax to the difference between trade and new car... You still get the $7500 tax credit and a $500 NYSREDA rebate. Sell or trade it in 3 years if you don't plan to keep longer.
 

bell2041

Member
Mar 17, 2018
171
56
Brooklyn
Have you considered financing? You can still get a decent rate and if you have a trade, NY state will only apply sales tax to the difference between trade and new car... You still get the $7500 tax credit and a $500 NYSREDA rebate. Sell or trade it in 3 years if you don't plan to keep longer.

They want $10K less then my current payoff for my current car and I paid sales tax on 25K on my current car, so I will still need to pay taxes on 75K for Tesla. Doesn't make sense
 

About Us

Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.

Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.


SUPPORT TMC
Top