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Buy definition, when you lease the car you do not own it. You are essentially renting the car and paying for depreciation while the leasing company owns it. Therefore they receive the tax rebate and not you. There are some companies that will "credit" you the 7,500, but they essentially adjust the residuals to compensate. The Tesla lease is the best standard lease that you can get currently. If you do not plan on buying the car afterward (which is typical with a lease), you want a high residual which minimizes your payments. The Tesla lease essentially has USBank keeping the 7,500 and working that into the residual value. If you think you may buy the car, then leasing is not a good option at all because the cost of ownership will be significantly higher with the loss of the 7,500.
New member here. I am looking to buy 70D. 75 K base price plus 10 K in options.
Tesla leasing is quoting me about 1000 monthly payment with 5000 down payment.
In 36 months, i will pay 41,000. (36000 + 5000)
Residual value is about 42,000. (50% of 75000 and 43% of 10000)
If i pay down 42K and buy the car, the net amount i will pay is 83K for a 85K car. Also i have the option of walking away after 3 years if a better model is there.
It looks good to think this way. What am i missing? I there something i am not seeing?
I know i am assuming that if i want to keep the car, i am paying down 42K. So if that is financed, the cost will be more. Also i may be liable for the taxes on the 42K when i buy.
Gurus, please let me know the flaws in this.
Thanks
I don't recommend leasing Tesla... Tesla's lease is pretty terrible... you can lease a low to mid 70'sk BMW 550i Msport in the mid 700s with 0 down and 15k miles per year, while a similarly priced Tesla (after tax incentives) leases for 1200... So it's like 60% or about 450/m more per month for two cars that are essentially the same price. BMW also has free maintenance in the first 4 years or 50k miles, so there's basically another 2000 difference there. Basically Tesla lease is as bad as Porsche's. Different companies just do it differently. BMW encourages leases so it provides very attractive leases, while Porsche and Audi (same parent company, VW) really don't like leases and basically just make them super unattractive so you end up buying.
Another example is Audi S6 and BMW 550i. They are about the same prices, but the Audi leases for 1110+ while BMW can be had in the mid 700's... so it's not just Tesla. This has nothing to do with depreciation since S6 keeps its value MUCH BETTER than 550i...
So clearly, on the spectrum, Tesla is not a brand to lease.
Central City Leasing will give you a quote!
Call them:
1313 E Main St, Santa Maria, CA 93454
(805) 928-3388
Ask for Bill.
They are an independent leasing company. They in the past have worked with B of A, but the leases are theirs. B of A just has the credit line with them.
They are an independent leasing company. They in the past have worked with B of A, but the leases are theirs. B of A just has the credit line with them.