From a financial standpoint, you should own appreciating assets and rent depreciating assets. A vehicle is not an appreciating asset, no matter what Elon says about a Tesla with FSD. They might hold their value better, but will never increase in value. With all that said, I've never leased a vehicle because it's hard for me to rent one, but this works for many people.
Own vs Lease?
- Thread starter KAnder04
- Start date
I think lease is way to go, if you can afford it. You’ll always have the newest software and hardware and car is always covered under warranty. Also would rather have my money in assets that appreciate.
If you plan to keep a car for the long term, then after the loan is paid off you can take that money and invest it. To date, I’ve owned most of my cars for at least 4 years after paying them off.
Also, as mentioned above, leases have mileage penalties. I’ve never really considered leasing because there’s no way I can avoid them due to my work commute, which is only about 35 miles each way, but would put me way over the top at the end of a typical lease. The only way to avoid the mileage penalty is to purchase the car when the lease is up (which Tesla is not allowing on M3s).
sure, if you plan to drive a relatively outdated vehicle with no warranty. Don’t invest the excess cash right away, may have to dump it back into the vehicle If something goes wrong. Also, you shouldn’t lease a car with the intention of buying - you’ll typically be behind in equity at buy out.
You'll want to own it when Tesla Taxi starts... then you can drive a different new Tesla with the proceeds... any day now
I was spinning up the snark engine and getting ready to reply with venom until I saw the last three words and the emoji
Well that's consistent with their BS about showing the purchase price with "estimated savings"
TT97
Active Member
You'll want to own it when Tesla Taxi starts... then you can drive a different new Tesla with the proceeds... any day now
That's my plan!!!! With the proceeds I will be able to lease a Roadster is it still called 2020
- of course, I won't be able to afford FSD for it as it will cost the same as a NYC medallion.So, what will happen first - FSD Level 5 or the Roadster release?
That's my plan!!!! With the proceeds I will be able to lease a Roadster is it still called 2020
So, what will happen first - FSD Level 5 or the Roadster release?
Roadster, by far. Full level 5 FSD will need government approval. By then, we will probably have the roadster 5...
Well, it’s either be behind on equity or pay an over mileage fee for me. If you’re looking to keep the car, then it doesn’t really matter that you’re behind on equity. Yes, there’s some risk that you may have out-of-warranty repairs. It all boils down to what you think it’s all worth. I don’t need a new car every 3 years and luckily, (knock on wood) I’ve never had to do major repairs on an older car, so I don’t feel the need to have a constant car payment.
Yeah definitely a risk. I try to avoid those types of situations. I’m also a car guy so I know my habits, always need the newest and best available
With a financial lease you always have the flexibility to buy it at the end of the lease at a residual value and possibly sell it to a private buyer for a price greater than the residual value.
On the con side , if the car gets totaled during the tenure of the financial leasing ... the leasing company gets the proceeds of the claim.
On the con side , if the car gets totaled during the tenure of the financial leasing ... the leasing company gets the proceeds of the claim.
Which makes leasing the absolute right choice for you
I agree, #1 - avoid driving a luxury vehicle out of warranty
I agree, #1 - avoid driving a luxury vehicle out of warranty
In general, I agree with that... but I would consider the statement "dont drive vehicles outside of warranty that have high repair costs and high failure rates", which fits most german brand mass market luxury vehicles. I dont consider a model 3 a luxury vehicle though, its a mass market vehicle to me. It also doesnt fit the profile of "high failure rates", at least not yet.
The fact that people here complain about things like "my spotify doesnt work properly" or "why doesnt update XXX / YYY have anything that "I want????", instead of tons of complaints about main battery replacements, or engine replacements, tells us that most things that break on these cars so far are "annoyances".
Things like door latches, air filters, squeaks / rattles, etc instead of things like transfer cases, transmissions, pistons, etc.
Dont get me wrong, I also tend to like the "latest and greatest", and get major FOMO when the "new thing" comes out and my top of the line purchased (now old) thing cant do it. I took a gamble that, with a car and car company that push out free OTA updates, it would scratch that itch. So far, I have been right. For me, this is the first car in twenty years that I havent started "wanting the new thing" after a year and half or so.
I am supremely happy with this car, more than I have been happy with any car I have owned in the past. Being faster than anything I have ever owned, still comfortable to run as a daily driver, AND cheaper to drive for me than an econobox type car is the magic trifecta. I guess thats why I see it as a good ownership choice, vs leasing.
My wife still loves her BMW SUV and will likely still lease those, though
In general, I agree with that... but I would consider the statement "dont drive vehicles outside of warranty that have high repair costs and high failure rates", which fits most german brand mass market luxury vehicles. I dont consider a model 3 a luxury vehicle though, its a mass market vehicle to me. It also doesnt fit the profile of "high failure rates", at least not yet.
The fact that people here complain about things like "my spotify doesnt work properly" or "why doesnt update XXX / YYY have anything that "I want????", instead of tons of complaints about main battery replacements, or engine replacements, tells us that most things that break on these cars so far are "annoyances".
Things like door latches, air filters, squeaks / rattles, etc instead of things like transfer cases, transmissions, pistons, etc.
Dont get me wrong, I also tend to like the "latest and greatest", and get major FOMO when the "new thing" comes out and my top of the line purchased (now old) thing cant do it. I took a gamble that, with a car and car company that push out free OTA updates, it would scratch that itch. So far, I have been right. For me, this is the first car in twenty years that I havent started "wanting the new thing" after a year and half or so.
I am supremely happy with this car, more than I have been happy with any car I have owned in the past. Being faster than anything I have ever owned, still comfortable to run as a daily driver, AND cheaper to drive for me than an econobox type car is the magic trifecta. I guess thats why I see it as a good ownership choice, vs leasing.
My wife still loves her BMW SUV and will likely still lease those, though
smart wife
My brother likes to lease. He says it gives him flexibility at the end of lease to decide whether he likes the vehicle enough to keep. Of course, he's never kept any vehicle at end of lease in 20 years! He likes as few headaches as possible with his vehicles, as he's quite a busy heart surgeon. He could lease anything, but what does he lease? He just got a Honda CRV hybrid over Memorial Day weekend. I can't convince him to get a Tesla, as he doesn't want any headaches or having to queue at a supercharger. I guess he'd rather queue at Costco for gas.
As far as I remember the SA told me that with model 3 it is mandatory to buy after the lease period.
