Ordered my MY yesterday. Leasing for first time ever.

[RichAZ/CapeCod]

Wife and I did a six day, 2,742 miles ride from Cape Cod to Green Valley AZ last week in our 2019 Bolt. Was an adventure... Anyway, we did the ride as we wanted to reposition our Chevy Bolt from Cape Cod to our AZ home. Well, the trip only made us want a MY Tesla more!!

Did a test drive yesterday and placed the order (at home) on the same day. We've never leased a vehicle before. However, since the technology is changing so rapidly in the EV world (especially with Tesla), and I'm trusting in three years (yeah, I'm sure in less time than that) to have our next Tesla with the 46x80 battery and around a solid 400 miles of range.

I understand that a lease is more expensive than buying outright, but we just don't want the hassle of having to deal with the sale of an auto.

Hope we did the right thing. Any comment would be welcome.

Rich

Wife at first charge site, Warwick RI. ChargePoint

Wife chatting with a new friend in AZ. Close to the end of the ride. Electrify America site

 

[Carlvs]

Great photo! Love the charge stations and old gas pump in the background.

 

[mattw715]

I garuntee you leasing will be way more expensive in the grand scheme of things. Not to mention you have mileage limits. You can always just buy it and trade it back in when your ready to buy a new one. Shouldn't be that much more of a hassle than turning in your lease.

 

[marines310]

I garuntee you leasing will be way more expensive in the grand scheme of things. Not to mention you have mileage limits. You can always just buy it and trade it back in when your ready to buy a new one. Shouldn't be that much more of a hassle than turning in your lease.

As of early October, you can't purchase a M3 or MY at the end of your lease.

As for the original post, I too leased my vehicle since I want to see how the MY evolves before I make a longer term purchase.

 

[seniorcitizen]

I was also going to lease the car.
Here is Video that went into details about why buying was better:

I ended up buying car instead of leasing. Now I can get really nice set of addition wheels/tires. I added Tow Hitch and FSD as well.
I did not like that fact that there is no option to buy at the end of lease.

 

[miggz410]

At first I also thought about leasing the Y I ordered beginning of this month... Then I heard about the no buy back term, and decided to buy instead.

Video above is exactly why I decided to buy than lease... Just a lot more pros on buying compares to just leasing a car just to return it.

 

[cabbqking]

I was also going to lease the car.
Here is Video that went into details about why buying was better:

I ended up buying car instead of leasing. Now I can get a really nice set of additional wheels/tires. I added Tow Hitch and FSD as well.
I did not like that fact that there is no option to buy at the end of lease.

just my two cents for the original poster only:

- huge assumption on the depreciation in this video on Y and 3. If you believe half of what Elon talked about in regards to the new battery, range, and structure of the car, there is a very low likelihood that ultra-low depreciation will stand two to three years from now. Keep in mind, due to covid, the market dynamics has changed. Several internet based firms are buying up inventory to grab market share. Not sustainable!

- sales tax is a huge factor if you live in a state that has a large sales tax on purchase and / or tax lease only for the portion you use.

- If robotaxi can't be rolled out by Tesla in two years, what do you think Elon is going to do with those lease returns? Price them so high to compete with the new ones? or he will change his mind and tell the leasee that they can buy th car?

Lease will be more expensive in most cases. But probaby by couple thousand, not by the huge number shown in later part of this video.

 

[bruce4000]

Everyone has to evaluate their situation and decide if lease is right. I normally buy new and keep for 10 to 15 years but with ev tech advancing quickly seems like a risk. So my plan is to buy a MY, drive it for 3 or 4 years and then make my son a good deal on it and buy another. My son is in New England where distances are shorter while I am in the west and hope to tow with ev so hopefully CT or longer range MY by then.