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New Tesla leasing program

Discussion in 'Model S: Ordering, Production, Delivery' started by hanstremblay, Apr 8, 2014.

  1. hanstremblay

    hanstremblay Member

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    #1 hanstremblay, Apr 8, 2014
    Last edited: Apr 8, 2014
  2. aviators99

    aviators99 Model S - R140

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  3. bhuwan

    bhuwan Active Member

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    Wow nice. Too late for me sadly. How much is it for the lease?
     
  4. Madartist

    Madartist Member

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    That's a positive step forward to sell more cars. But what about individuals? There's no mention of a personal leasing option.
     
  5. tiblot

    tiblot Member

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    ha, that's because in order to make it 'attractive' they factored in tax savings from your business use. Nothing special here.
    I suspect most business owners understand how to do their taxes anwyay will just go with their own financing at better rates.
     
  6. ItsNotAboutTheMoney

    ItsNotAboutTheMoney Active Member

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    They aren't doing individual leasing. They're just doing the loan with a buyback option.
     
  7. Raffy.Roma

    Raffy.Roma Active Member

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    Can you give us an example of loan with buyback option?
     
  8. tiblot

    tiblot Member

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    All details are here: http://www.teslamotors.com/sites/default/files/pdfs/tesla-resale-value-guarantee.pdf?v20131001

    Essentially, you must finance via their lenders (and end up with a higher Rate). Then you must sell the car back to them between months 36-39.
    They pay you 50% of the base purchase price + some % of options.

    You're limited to 12 or 15k miles per year.

    Once the 39 months passes, the offer expires forever.
     
  9. Raffy.Roma

    Raffy.Roma Active Member

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    cool! Is this loan with buyback option available also in Europe?
     
  10. tiblot

    tiblot Member

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    I do not know that answer, haha :)
     
  11. aviators99

    aviators99 Model S - R140

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    It is $1,012/month for the 60kWh
    $1,199/month for 85kWh
    $1,451/month for the P85

    36 month lease, $5,000 down, 15,000 annual miles, $700 acquisition, $300 disposition
     
  12. matbl

    matbl Member

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    Germany: Some sort of leasing, yes.
    Rest of europe: No.
     
  13. Lloyd

    Lloyd Active Member

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    I have a p85+, with most options. My payment to own is ~$1600/ 60 months with Alliant. Seems silly to pay that much and still owe the residual at the end, and be limited in your annual usage.

    Questions that need to be answered to further evaluate:

    What is the residual at the end of the 36 month lease?
    Is this lease open ended or closed.
     
  14. Apoclyps

    Apoclyps Member

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    will people be able to keep it under 15K annual miles? :confused: too much fun driving...
     
  15. engle

    engle Member

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    If anyone gets a copy of the lease agreement, please post it. I'm curious what money factor (interest built-in to the lease) they're charging and what the residual values are?
     
  16. Chris Naps

    Chris Naps Member

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    #16 Chris Naps, Apr 8, 2014
    Last edited: Apr 8, 2014
    Tesla Motors - Business Leasing Program

    Tesla has announced that it will offer leasing to business owners. It is predicted that this will keep the Model S and Model X in high circulation with many new owners. This will allow for factories to continually manufacture more vehicles. I believe they did this because of the predicted Q1 results.

    On Tesla's website they have 3 options now. Finance, Leasing, and Cash. The program is definitely not cheap and Tesla adds manipulation tactics to make the price appealing.
    The payment scheme is this:
    Monthly payment: $1,012 /mo.
    Gasoline savings: -$261 /mo. Business tax benefit: -$343 /mo.

    $408 /mo. Business Lease
    Including Gasoline and Tax Savings

    Fine print:
    The monthly cost of business leasing is calculated using the following assumptions: 36 month, 15,000 annual mile lease with a $5,000 down payment, a $700 acquisition and $300 disposition fee, a 40% effective tax rate with 70% business use, and gasoline savings. Gasoline savings are calculated assuming $0.11 per kilowatt hour compared to paying $4.90 per gallon for premium gasoline with a fuel efficiency of 20 miles per gallon. Business leasing is available in CA, CO, CT, FL, IL, MA, MD, NY, TX, and WA. The first month’s payment, down payment, and acquisition fee are due at signing.

    The thing about this lease is.... The miles are WAY to low... HOW DOES SOMEONE KEEP THIS CAR UNDER 15,000 MILES IF IT IS SO FUN TO DRIVE?!?!?

    What are your opinions on this?
     
  17. Lloyd

    Lloyd Active Member

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    #17 Lloyd, Apr 8, 2014
    Last edited: Apr 8, 2014
    Sounds like a closed end lease. So.... if there is no damage to the car, and the mileage is under 45,000 miles, then you can just turn the car in at the end of 36 months with a check for $300.

    In the extra fine print there will be a charge for going over the mileage usually $.10 to $.15/mile, but I have seen higher! Repairs if necessary are usually better done by your shop rather than turning it in and letting them charge you their rate for the repairs.
     
  18. ecarfan

    ecarfan Well-Known Member

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    It's a smart program for Tesla to make available. Of course Tesla tries to make it appear as appealing as possible. It's up to prospective participants to see through some of the rather dubious assumptions, such as calculating savings assuming a gasoline price of $4.90/gallon and a conventional car getting 20mpg, as well as an electricity cost of $0.11/kWHr
     
  19. bonaire

    bonaire Active Member

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    Those are California numbers with night time EV rates and high gas prices.

    My prior car was 27mph. Premium is $3.93 and electricity is .17/kWh. I can't see this business lease offering anything more than the prior sales style.
     
  20. ecarfan

    ecarfan Well-Known Member

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    Agreed, I am on CA and pay that rate to charge my car. My point was that not everyone should assume it is a rate available to them in their area.

    As to Tesla's assumed fuel cost, they say it is a projected average over the else term. Seems high to me, but I can't predict the future, and neither can Tesla.
     

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