Next serious range increase?

[Dan203]

I would have leased had the terms been more reasonable. But they are pretty terrible, combined with the loss of (ineligibility for) the tax credit. But yeah, fast moving technology and market shift suggests leasing...

I got mine when the tax credit was down to just $1,875 so it wasn't a big deal. The terms aren't great if you're a typical "lease hacker" that's use to the obscene deals offered by some of the other luxury brands, but they weren't terrible when you compared to doing the 5 year finance and then trading in after just 3. (which I've done on most of my cars) The only thing that might make financing a better option is if the Model 3 holds it's value better than a normal car. At the moment that appears to be the case, but that could change drastically if Tesla releases a major hardware revision.

 

[Okninja]

I would have leased had the terms been more reasonable. But they are pretty terrible, combined with the loss of (ineligibility for) the tax credit. But yeah, fast moving technology and market shift suggests leasing...

Lease deals actually aren’t bad on the model 3 P (compared to other 60k sport sedans) minus ability to buy car out, which I guess some people do. Not sure what they look like on LR and standard.

 

[Dan203]

Lease deals actually aren’t bad on the model 3 P (compared to other 60k sport sedans) minus ability to buy car out, which I guess some people do. Not sure what they look like on LR and standard.

I did all the math on it at one point and for the Performance to be a better deal to buy using Tesla Financing over 3 years it would have to retain over 60% of it's original value. That may be the case, as Teslas do seem to hold their value better than most cars, but if Tesla releases a major hardware revision or the market is flooded with 3s because a lot of people want Ys instead then it could very well drop. Resale value, like everything else, is driven by supply and demand. If there is a ton of supply and limited demand then those resale prices may not hold. I wasn't willing to take that risk again. Plus with the lease I got to keep more of my own money in the bank/market earning a return. (although in the past couple months that hasn't worked out as well as I'd hoped)

 

[Dan203]

I forgot I have the actual residual value listed on my paperwork. The price of the car (no FSD) when I bought it last year was $58,190. The residual value listed on the paperwork is $39,698.50. So 68.22% of it's original value after 3 year 30k miles. And this was back in September of last year. I've found articles that show they made their leases even more favorable earlier this year.