Pulling the trigger soon on first Tesla lease.

[PA_EV_New]

Question - when I use the Tesla lease calculator I configure with 0 down and include fees; for Tesla due they collect the first months payment from you or is that wrapped into the lease and you assume from payment #2?

 

[PA_EV_New]

*do they

 

[BroncoAZ]

It doesn’t seem like the lease is a good value? Between the $2500 down payment, fees, and monthly payments at $449 it totals out to $20,611 for an inventory MYLR with tow hitch. The out the door price on the car would be about $44K (with only federal incentive) and they seem to have a resale value of high $30K range on the 2021 cars with 30-40K miles. I’m a fan of leasing when it makes sense, but on these cars the buy is the better deal.

Looking at the lease numbers, they are collecting the first month payment in the initial down payment. If I do $0 down and add up the acquisition fee, state fees, and up front tax, what remains is the monthly payment amount.

 

[PA_EV_New]

It doesn’t seem like the lease is a good value? Between the $2500 down payment, fees, and monthly payments at $449 it totals out to $20,611 for an inventory MYLR with tow hitch. The out the door price on the car would be about $44K (with only federal incentive) and they seem to have a resale value of high $30K range on the 2021 cars with 30-40K miles. I’m a fan of leasing when it makes sense, but on these cars the buy is the better deal.

Looking at the lease numbers, they are collecting the first month payment in the initial down payment. If I do $0 down and add up the acquisition fee, state fees, and up front tax, what remains is the monthly payment amount.

Thank you very much

 

[PA_EV_New]

It doesn’t seem like the lease is a good value? Between the $2500 down payment, fees, and monthly payments at $449 it totals out to $20,611 for an inventory MYLR with tow hitch. The out the door price on the car would be about $44K (with only federal incentive) and they seem to have a resale value of high $30K range on the 2021 cars with 30-40K miles. I’m a fan of leasing when it makes sense, but on these cars the buy is the better deal.

Looking at the lease numbers, they are collecting the first month payment in the initial down payment. If I do $0 down and add up the acquisition fee, state fees, and up front tax, what remains is the monthly payment amount.

I am in the fence with leasing vs financing. I’ve leased all my other cars. Financing checked the box for value for me but then I was unsure about the resale value aspect since the 3yr value of the model y was so high and thought that since the new model would be out in 3 years that the resale of the current would drop substantially

 

[BroncoAZ]

I considered leasing until I ran the numbers. It appears that the residual value is crazy strong meaning the lease should be much cheaper. Our current lease on my wife’s Tacoma was $14,500 for 39 months and 39K miles, the Tesla with a similar capitalized cost shows a stronger residual value buy that lease costs $6K more for 36 months and 30K miles.

I agree that the value may take a hit when a new model comes out, but Tesla doesn’t seem to do radical redesigns like other manufacturers. My Ford Lightning was an example of what to do to tank resale value, announcing shortly after release that a completely new platform would be released in a couple years. Glad I sold mine quickly, the 2 month residual value was over 100%.

Tesla Model Y Depreciation

See the Tesla Model Y depreciation curve along with new & used pricing analysis to find which model years have the most value.

caredge.com

 

[PA_EV_New]

I considered leasing until I ran the numbers. It appears that the residual value is crazy strong meaning the lease should be much cheaper. Our current lease on my wife’s Tacoma was $14,500 for 39 months and 39K miles, the Tesla with a similar capitalized cost shows a stronger residual value buy that lease costs $6K more for 36 months and 30K miles.

I agree that the value may take a hit when a new model comes out, but Tesla doesn’t seem to do radical redesigns like other manufacturers. My Ford Lightning was an example of what to do to tank resale value, announcing shortly after release that a completely new platform would be released in a couple years. Glad I sold mine quickly, the 2 month residual value was over 100%.

Tesla Model Y Depreciation

See the Tesla Model Y depreciation curve along with new & used pricing analysis to find which model years have the most value.

caredge.com

View attachment 1020742

This is very helpful. Thank you very much

 

[raddiggin]

I considered leasing until I ran the numbers. It appears that the residual value is crazy strong meaning the lease should be much cheaper. Our current lease on my wife’s Tacoma was $14,500 for 39 months and 39K miles, the Tesla with a similar capitalized cost shows a stronger residual value buy that lease costs $6K more for 36 months and 30K miles.

I agree that the value may take a hit when a new model comes out, but Tesla doesn’t seem to do radical redesigns like other manufacturers. My Ford Lightning was an example of what to do to tank resale value, announcing shortly after release that a completely new platform would be released in a couple years. Glad I sold mine quickly, the 2 month residual value was over 100%.

Tesla Model Y Depreciation

See the Tesla Model Y depreciation curve along with new & used pricing analysis to find which model years have the most value.

caredge.com

View attachment 1020742

I've just started looking at CarEdge recently. How reliable are their projections? I'm also wondering if these are weighted more towards private sales?