Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.
Register

P100D Leasing - Wow?

This site may earn commission on affiliate links.
Tesla's rate is really high and they won't let you pay it down. I tried getting them to let me pre-pay my lease so I could save that money. They told me that I was welcome to pay the lease in full but that it wouldn't save me anything.

I've also found Tesla's lease deals to be less than advantageous which is why a bunch of us jumped at the opportunity to lease cheap P90D's a couple months back.
 
I have leased, financed and paid cash for all my cars over the years. In Canada, we don't get tax write-offs. We just have to look at the cost of money. Sometimes financing deals are good, sometimes (more rarely however) lease rates are good and if you have the cash and feel you won't do that great in investing, pay for it in cash. When I was cash tight and I did not really know whether I would want to keep the car long term (3-4 years) , I leased because the disposition of the vehicle is pre-determined (and a slightly lower than wholesale rate). If I was cash strapped but wanted to own the car for a little longer than the lease terms (5 - 6 years), I would finance it. If I had the cash and wanted to keep the car for awhile, I pay it off on day one (in Canada, it is a tax advantage to borrow for investments, not for cars).

Another item about leasing - since the buy-back value is pre-determined, that means many things about the car must be in a pre-determined condition (tires, dents, windshield, max mileage, etc). I didn't like this about leasing in general - for me, it was too much risk for me and none on the leaser.

For the Tesla - yes, it is a high tech item - due to change far quicker than normal fossil cars but in my case, I just bought it. I will put a million care-free miles on it for many years OR I may sell it if the mood strikes me. That's my $0.02 worth.
 
  • Helpful
Reactions: Falkirk
Tesla lease programs suck. I am one of those folks who took advantage of the great P90DL pricing a few months back. When I built it out, I was surprised to see the #, was lower than expected.

For people who want to be in/out of a car every 2/3 yrs without hassle, for people who dont want any liability (try reselling a supercar/$150k+ car after its been in accident....someone taps you at a light and you have to replace the bumper/trunk...car is now a boat anchor), for people who arent concerned that in the long run its a dumb $ play....leasing is great. I dont "worry" about miles at all, I drive where I want and I deal with the repurcussions, if any, later. My interest is no liability and new car every 2/3yrs, I just want simple, here are the keys, wheres my new car, see ya.

Again having said all that, Tesla's lease programs are some of the worst in the industry. You definitely are paying more for the convenience.
 
You must live in a different Canada than I do. Personal. Business.

LOL - perhaps I wasn't clear in framing the context of the comment. I meant that vehicles - in Canada - have very limited tax write off opportunities. Yes, we can claim mileage as well as if we use a vehicle for work purposes (at least 90%) we can claim the lease expense against income but I am not a road-going sales person and the value of the Tesla doesn't match against what CRA allows (unless you know something that can enlighten me?).
 
For me it comes down to what I could resell my P90D for after 2 years. The buy out is 90k, I don't think I would get 90k for it in 2018 without the AP 2.0 stuff. I'll just get my Model 3 on preorder or another lease on an S if that makes more sense at the time.
 
Lease specials can be had. This was my inventory car at the end of Q3. When they ran the final lease numbers, it came out to $780/mo with 10k down for a 24mo 10k mi/yr lease. I drive more than that, so opted to purchase. The total lease cost was still 1196 though if you factored in the 10k over 24 mos.
 

Attachments

  • Tesla.png
    Tesla.png
    719.6 KB · Views: 55