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P100D Model S Crazy Lease Deal

Discussion in 'Model S' started by carfan1523, Mar 27, 2018.

  1. fataldeadlock

    fataldeadlock Member

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    What the what. Financing a new car for 8 years? That must add at least $10k in interest, not to even mention depreciation. That is mind boggling.
     
    • Like x 1
  2. Matutino

    Matutino Member

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    Who’s your OA? I need a deal like this one for a friend of mine.
     
  3. BigNick

    BigNick Disaffected Member

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    Screaming deal, if real. I wonder how much 30K miles per year would run.

    100-mile daily RT commute = no lease for you!
     
  4. redy

    redy Member

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    I had thought of leasing but went with financing. In hindsight I'm glad I went with financing.

    6 months in already at 12k miles. Leasing would never have worked for me.
     
    • Helpful x 1
  5. vraev

    vraev Member

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    I drive waaaay to much for any lease. Close to 30/35K per year. On top of that, I decided that I can be happy with a Tesla as my car for the next 8 y. Yea...interest is pretty *sugar* here in canada..so yup...around 10k lost in interest alone. The goal is to keep this car for 10y....unless I find a good trade in opportunity with Tesla for a newer model in 5 or 6y.
     
  6. Henry82

    Henry82 Member

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    How did you get 1% interest rate?
     
  7. brkaus

    brkaus Well-Known Member

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    I did 7 years. Rate was the same for 5,6, 7, 8 and much lower than mortgage, even including the tax benefit.

    I’m putting the extra into the mortgage, then I’ll pay this off early. But have the safety net just in case.
     
  8. f3honda4me

    f3honda4me Member

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    This. Never put money down on a lease.
     
    • Disagree x 2
    • Like x 1
  9. TSLATed

    TSLATed Member

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    I got 0.75% for 36 months on my Model S (0.89% APR) from Fairwinds Credit Union. They still offer this rate now - Stop paying too much in interest.
     
    • Like x 2
  10. sdorn

    sdorn Director of Awesome

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    Tesla requires a fairly hefty down payment with a lease. I think they made me put $5k down plus tax, tag and title. Was almost $20k due at signing.
     
  11. f3honda4me

    f3honda4me Member

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    Biggest reason not to put money down on a lease is if you are in an accident and the car is totaled early on, that money is gone.
     
    • Like x 2
  12. f3honda4me

    f3honda4me Member

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    They generally can’t require a down payment on a lease. Unless you cannot get approved by the bank without it.
     
  13. MIT_S60

    MIT_S60 Active Member

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    Same can be said of financing with GAP insurance.
     
  14. n2mb_racing

    n2mb_racing Active Member

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    Great deal! I did something similar at the end of Q3 in 2016 on a p90d. Got a similarly really good lease deal. Retrospect, it turns out that buying it probably would have been just as good or better since not much has changed on the car since then. It's held its value pretty well. But I can't really imagine that will continue to always be true. Go for it!

    I'll be looking for a similar deal around August or September of this year....
     
  15. f3honda4me

    f3honda4me Member

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    Not necessarily. Depends on how much you put down vs the car value at the time of the accident. With a lease it’s gone no matter what.
     
  16. sdorn

    sdorn Director of Awesome

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    I was referring to the Tesla lease program. That wouldn’t apply to a third party lease which would have its own terms. You can see the requirements for the Tesla lease program on their website. When I got mine they required a $5k capital cost reduction plus tax, tag and title for all leases under their program.
     
  17. f3honda4me

    f3honda4me Member

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    I didn’t think Tesla did any financials - they outsource to a bank.
     
  18. bcamacho

    bcamacho Member

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    Holly Toledo, that is a great deal - jump on it!
     
  19. Naekuh

    Naekuh Member

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    #39 Naekuh, Apr 2, 2018
    Last edited: Apr 2, 2018
    You sure its a P100D?

    it makes absolutely no sense.
    Dont get me wrong, just the math in numbers makes no sense.
    You sure its not a lemon buyback?

    Lets just go over the numbers.

    830 x 36 = 29880
    29880 + 5000 = 34880 total out of pocket.

    Dont get wrong again, but i paid double that amount in just the down for my P100D, and my payments are still higher then yours per month, and i have a 60 month loan.

    Even if its a lease, and your paying for half the car, again do the math.
    You said they gave you a 45k discount... on 1.6k miles? that again doesn't add right, unless its a lemon buy back or a salvage.

    Something smells really off with that deal.

    Id verify its not a salvage or a lemon buy back.
    There has to be something seriously wrong with the car if the dealer is trying to get rid of it that cheap.
    Even older CPO's cost more then 34880.
     
    • Disagree x 1
  20. jaguar36

    jaguar36 Active Member

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    It's not, Tesla does this from time to time. The P100Ds don't cost them much more to make than a 100D, so they can afford to drop the price a bunch and still make some money on them.
     

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