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One Year Lease of My Unused Model 3 Available in 3-4 Weeks
- Thread starter dgh
- Start date
You may want to talk to a lawyer before you do this to figure out what liability you have and what risks you are taking with this arrangement. What happens in the event of an accident? Since your name will be on the title were the lessee to get into an accident and not have insurance or have inadequate insurance you need to make sure that you are protected from anyone coming after you.
What if the car is totaled in an accident or stolen and the lessee doesn’t have insurance or their insurance doesn’t cover the cost of a replacement car? What if that happens one month after delivery? They have prepaid for a year, so would you owe them a pro-rated refund?
What if the lessee just disappears with the car after a year? Since their name would on the title then they would be a rightful owner of the car and you may have trouble getting it back.
Hopefully none of these situations would ever happen, but it is important to think them through and make sure you are as protected as possible for any possibility.
What if the car is totaled in an accident or stolen and the lessee doesn’t have insurance or their insurance doesn’t cover the cost of a replacement car? What if that happens one month after delivery? They have prepaid for a year, so would you owe them a pro-rated refund?
What if the lessee just disappears with the car after a year? Since their name would on the title then they would be a rightful owner of the car and you may have trouble getting it back.
Hopefully none of these situations would ever happen, but it is important to think them through and make sure you are as protected as possible for any possibility.
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Former Model S owner willing to do $700/month too (paid upfront for 12 months). Would only need 10-12k miles per year. You’ve already turned that down, so I’m not sure why I’m posting, but let me know if anything changes. I reserved one and am told I’ll be able to configure by February, but I’m thinking about ordering a second one (regretting not reserving two). Before I’d pay much more than $8,400 for the year, and I’d just buy someone’s reservation off eBay for $2,500 (or put the $8,400 towards an overpriced ebay “flip” car priced at $62,500) and get both my 3s now. While I might actually be better off doing that, because there’s no way I’d get the tax incentive on my second one anyway, the idea of your proposal intrigues me: I don’t have to go all-in in two cars that I’ve never even seen in person before. Just let me know if anything changes, and good luck.
I just barely got this -
Good luck getting into that 1k territory for your model 3.
Maybe you will find a dummy though with all the hype just as others have said. But in all fairness, KBB, NADA, Edmunds, - None of these guys plus many more have a damn clue what these cars are valued at because of not only the short term these vehicles have been out, but also the volatile niche market they are in as well.
2017 Model X 90D
$1,083 monthly subscription
$5,000 down
12,000 miles per year
36 month subscription
2,935 Miles
Deep Blue Metallic Paint
Free Supercharging
Model X Panoramic Roof
Model X - 6 Seat Interior
Carbon Fiber Décor
20" Silver Wheels
All Wheel Drive
Enhanced Autopilot
Smart Air Suspension
Subzero Weather Package - With Heated Steering Wheel
Ultra High Fidelity Sound
No Ludicrous Upgrade
Good luck getting into that 1k territory for your model 3.
Maybe you will find a dummy though with all the hype just as others have said. But in all fairness, KBB, NADA, Edmunds, - None of these guys plus many more have a damn clue what these cars are valued at because of not only the short term these vehicles have been out, but also the volatile niche market they are in as well.
2017 Model X 90D
$1,083 monthly subscription
$5,000 down
12,000 miles per year
36 month subscription
2,935 Miles
Deep Blue Metallic Paint
Free Supercharging
Model X Panoramic Roof
Model X - 6 Seat Interior
Carbon Fiber Décor
20" Silver Wheels
All Wheel Drive
Enhanced Autopilot
Smart Air Suspension
Subzero Weather Package - With Heated Steering Wheel
Ultra High Fidelity Sound
No Ludicrous Upgrade
rocketshipp85
Member
I would do $700 a month with 12k miles per year. Long range, premium upgrades, paint color upgrade of your choice but no red, 18 inch rims. 4 week delivery.
You are cheating yourself by not charging interest. The leasee should still pay finance charge on the residual amount, even if they pay hundred percent of the lease amount up front.Why am I offering this?
Last week I was invited to configure my Model 3 for delivery in New York (where I live). After submitting an order that night (January 4th), we were given a delivery estimate of 4 weeks.
Since configuring (LR, with AP, and PUP) that night, my wife and I have been rethinking whether we got ahead of ourselves and our budget here in our effort to give Tesla a quick response and reduce our wait time. We have also been exploring how we might be able to offset the cost of these upgrades over a base car enough to go for the car as we really want it.
We were considering whether something like using Turo to rent the car some would do the job. Then it occurred to us, there are people out there who might particularly like a one year lease of a Model 3 at this very time in the car's release. We had in mind people with a long wait on a reservation, and/or wanting to test the car out before deciding what configuration they want to buy, and/or waiting for options not yet available (dual motor, performance version, more choices in interiors, etc.) and/or preferring for Tesla to get more production experience with the car under their belt, and to receive the continual incremental improvements to the car over the next year which Tesla is known to add to its vehicles, before buying a 3 outright. You'd basically get the upside of not waiting to receive a Model 3, while retaining the optionality of seeing just how you want to configure your car for the long haul.
So, we are thinking a year lease/rental could be a win/win for us and someone wanting to receive this car brand new in a few weeks.
Basic Terms
We have in mind a one year agreement with up to 15K miles included. I'm open to some variation on these terms. fwiw, my understanding is that two unrelated people can be on the title of the car together, so, you could take delivery and set up your own insurance for the year (after a year, you would return the car and take your name off the title).
Pricing
I found a lease calculator on Edmunds as a starting point to think about pricing (screen shot of my assumptions, and link to the calculator below).
A few words on the assumptions I used. Price is what we will pay Tesla, including $1K destination fee per Edmunds suggestion. Title, registration, other fees, zeroed out. Residual value, I assumed 80% of the cost of the $55K cost of the car itself (without destination fee). "Money factor" (interest), I zeroed this out, assuming payment would be upfront. One final variable you may have noticed, for this short term arrangement, we will be retaining the benefits of the EV rebates available.
Based on the calculator, if the car were available for 1 year leases, the cost would be $12,500.
Given the car's year plus waiting list, we are looking for some amount of a premium above that $12.5K figure for the lease from Edmunds' calculator. Of course, we'd be quite happy with a $19K offer that covered all those extra options on the car (LR battery, PUP, AP). That said, we want an arrangement that both parties feel good about, and are hoping we can find an enthusiast on TMC who will really love and care for the car. So, if you are interested please let us know what you can offer us within this price range.
Configuration
My order was placed in with Silver with the 18” Aero wheels and Enhanced Auto Pilot. I’d be open to change to another color and perhaps the 19” Sport wheels. As you can see in Tesla's fine print of the image shared below, such a change could incur a delay and/or possibly a fee.
Please send PM if interested. I live in the NYC suburbs and work in the city. While not absolutely necessary, I think it makes sense that we meet in person to finalize details before we sign a simple (but clear) contact.
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We have been thinking about these issues, but we really appreciate your taking the time to drill down. Your post covered some considerations that we had not thought of, and we really appreciate it.
Thanks for your thoughts on this. Our proposal has a bit of wiggle room on the financial aspects, and we are willing to let that financing issue go for upfront payment and finding the right match for our car.
barjohn
Member
A lease payment normally consists of 3 components, the depreciation, the cost of money (financing) and the sales tax. Not sure why you are being told to add financing charge to your lease payment.
Would consider, but just one year term is better three year term (less commitment, and smaller period of time to amortize the initial "new car off the lot value drop") a six month term is better than one year term. PM me what you are thinking about.
Wow, your math is incredible. 19k for a 1 year lease? On a Model 3? That's over $1500 a month! Good luck with that. This car should be leasing for well under $500 a month.
https://jalopnik.com/you-might-be-able-to-lease-a-model-3-for-about-200-a-m-1679418845
https://jalopnik.com/you-might-be-able-to-lease-a-model-3-for-about-200-a-m-1679418845
Toppatop55
~Life Is Good~
amazing read. wow a model 3 lease for $160. this is why I love this forum, so much knowledge and limitless resources. Ive learned so much in the two weeks I've been here.
This is crazy. 1000/mo for 1 year lease?? Btw I just got my model 3 reservation ready to design but decided to let it go. It doesn't sound like a good deal to me since Tesla doesn't offer lease option. Ended up lealeas an Infiniti QX60 for 370/mo +tax. On a suv with MSRP of 52K. My entire 3 year lease is only 1k more what you are asking for your 1 year lease. Plus Tesla is not ready yet for mass production. If you get into an accident they will take months to fix your car.
