Pulling trigger soon

[smilepak]

Do it! If you need help, go get a pair of Nike's and Just Do It!

To answer your questions

#1 - I had the same delima. So the best solution I came up with for me was to lease it. Knowing it is a technology that will evolve, knowing battery gigawatt factory is being built, knowing the Model 3 is coming out, and knowing that I can't decide between the model now, I went with the lease for 15k miles per year. At the end of the lease 36 months lease If I like it so much and nothing has improved from the above, I could buy the car or lease another one. In terms of speed, if you have the M5, the 70D or 85D would be enough. No need the P85D.

#2 - Having a dual charger, you need to get the HPWC on 100a switch in oder to take an advantage of it. That 2k for dual charge, 750 for HPWC, and extra cost above NEMA 14-50 for installation. Too costly. Not worth it at the moment. Unless you have the need to charge fast under 2-3 hrs often, then yes. Otherwise no.

#3 - Yes, but it require you to properly maintain the vehicle per the recommended schedule or else it is void i tihnk.

#5 - Audio, really preferences. To me, 2.5k more for it, NOPE. Unless it is a B&O or some major brand I can relate to and know the quality. Otherwise, nope.

Hello everyone,

I have been following this forum for a few years now and I can't thank everyone enough for their contributions. A little about me, I currently drive a 2014 BMW M5 and will soon be transferring lease to another party and (hopefully) getting a TESLA! My current commute is 70 miles per day and I think carpool sticker and no gas (along with autopilot) would be extremely cool. One complexity is that I live in a condo. I finally got our HOA board to approve NEMA 14-50 instillation in my parking spot and I have a electrician over my place working on an estimate as I type. I have a few issues I can really use your help with.

1. 70D vs 85D vs p85D. I know, I know- personal preference, whatever $$$ you want to spend. Hopefully, I will be keeping this car for a while and I want to make the best decision for me. I like fast cars (hence M5). Has anyone regretted not getting 85D after getting 70D? Ideally, I would get the fastest model, but I don't think I can stomach extra $$$$ for a few seconds off 0-60. Plus I HATE 21 inch wheels and will definitely be getting 19s.

2. I think ~200 mile range between charges is fine for my needs. Do I need to get dual chargers? The guy at TESLA store recommends against it. Is getting them somewhat future proofs the car?

3. Residual Value Guarantee. Is there such a thing any more? Or has this gone away since lease was introduced? If its still around, is it worth getting for extra APR? (I can get a loan through Pen Fed at .99% APR).

4. I will try to get an inventory car. Are discounts fixed on those or can one negotiate the price?

5. I like to listen to musk is the car. Is upgraded audio worth it? Does anyone know who makes both version of the audio?

Any other tips?

Thank you guys in advance!

 

[rjdoc74]

1#1 - I had the same delima. So the best solution I came up with for me was to lease it. Knowing it is a technology that will evolve, knowing battery gigawatt factory is being built, knowing the Model 3 is coming out, and knowing that I can't decide between the model now, I went with the lease for 15k miles per year. At the end of the lease 36 months lease If I like it so much and nothing has improved from the above, I could buy the car or lease another one. In terms of speed, if you have the M5, the 70D or 85D would be enough. No need the P85D.

Thank you so much for your reply. I am lease guru (leased many many BMWs) and TESLA lease SUCKS. You should never put money down on a lease. If you drive out of factory and total it, you loose your $6K or whatever they want for a down. Plus, their numbers are not very good. Just to give you a comparison, I am paying $1000/month including CA tax on my 2014 M5 with only TTL down. If numbers would be better, I would be all over lease.

 

[linkster]

lease it.

+1 ....with all your well stated reasons!

 

[smilepak]

Thank you so much for your reply. I am lease guru (leased many many BMWs) and TESLA lease SUCKS. You should never put money down on a lease. If you drive out of factory and total it, you loose your $6K or whatever they want for a down. Plus, their numbers are not very good. Just to give you a comparison, I am paying $1000/month including CA tax on my 2014 M5 with only TTL down. If numbers would be better, I would be all over lease.

im paying 980 a month for 70D lease with 15k miles and 10k worth options. With tax and all came out to 1060.00 Ish. It comes with gap insurance.

I do do agree on the 5k but that beats me dropping 20k to get the same monthly payment. Plus won't have to worry reselling it.

Tesla has not been on the road for 10 years yet, so it's hard to know the long term liability of the battery and cost to replace it. So until giga factory is out and battery coat stabilized, for me 5k is that piece of mind.

Better than tossing down large down payment and paying for the 85k car, turn out battery price drop and the next version is cheaper due to giga factory

 

[rjdoc74]

im paying 980 a month for 70D lease with 15k miles and 10k worth options. With tax and all came out to 1060.00 Ish. It comes with gap insurance.

I do do agree on the 5k but that beats me dropping 20k to get the same monthly payment. Plus won't have to worry reselling it.

Tesla has not been on the road for 10 years yet, so it's hard to know the long term liability of the battery and cost to replace it. So until giga factory is out and battery coat stabilized, for me 5k is that piece of mind.

Better than tossing down large down payment and paying for the 85k car, turn out battery price drop and the next version is cheaper due to giga factory

You got a good point there. I have to sit down and run the numbers. You don't get $7500 Tax Credit with lease (Bank gets that), you "loose" $5000 down payment. You also don't know how they will nickel and dime you after 3 years for wear and tear (its unknown for TESLA so far). You insurance is more expensive on a lease (I believe you need 300K/500K coverage minimum). So lots of things to consider...

 

[BigThumper]

After testing driving the P85D....I still got the 70D. It was mostly about the economics. I took possession yesterday and do not regret it for a sec. I like to drive fast and the 70D does it for me. Acceleration from 0 is still very fast. I imagine most 70D drivers won't have a problem overtaking most drivers when called upon. Also, I don't have a need for the range of the 85. My daily commute is about 40 miles.

 

[rjdoc74]

You got a good point there. I have to sit down and run the numbers. You don't get $7500 Tax Credit with lease (Bank gets that), you "loose" $5000 down payment. You also don't know how they will nickel and dime you after 3 years for wear and tear (its unknown for TESLA so far). You insurance is more expensive on a lease (I believe you need 300K/500K coverage minimum). So lots of things to consider...

So I did some calculations on $83,000 70D:

1. Lease- $4200 down (after $2500 CA rebate), $984/month plus tax for 36 months. $42,360 total out of pocket and left with no car in 3 years.

2. Buy- $25,000 down plus tax (after $7500 tax credit and $2500 CA rebate), at .99 financing for 48 months, $1066/month plus tax. approx $81,883 paid for the car in 4 years.

I know 3 years vs 4 years, but still gives some perspective.

 

[Max*]

So I did some calculations on $83,000 70D:

1. Lease- $4200 down (after $2500 CA rebate), $984/month plus tax for 36 months. $42,360 total out of pocket and left with no car in 3 years.

2. Buy- $25,000 down plus tax (after $7500 tax credit and $2500 CA rebate), at .99 financing for 48 months, $1066/month plus tax. approx $81,883 paid for the car in 4 years.

I know 3 years vs 4 years, but still gives some perspective.

And a 4-year old car is worth what, 40k-50k? So it's close...

 

[smilepak]

You got a good point there. I have to sit down and run the numbers. You don't get $7500 Tax Credit with lease (Bank gets that), you "loose" $5000 down payment. You also don't know how they will nickel and dime you after 3 years for wear and tear (its unknown for TESLA so far). You insurance is more expensive on a lease (I believe you need 300K/500K coverage minimum). So lots of things to consider...

I am not sure about insurance coverage on a lease requiring that high. I don't recall reading about it in the lease agreement or anyone mention it.

I got it through Ameriprise, just activated it yesterday 150/300 with $500.00 deductible @ 582.00 6mos.

So I did some calculations on $83,000 70D:

1. Lease- $4200 down (after $2500 CA rebate), $984/month plus tax for 36 months. $42,360 total out of pocket and left with no car in 3 years.

2. Buy- $25,000 down plus tax (after $7500 tax credit and $2500 CA rebate), at .99 financing for 48 months, $1066/month plus tax. approx $81,883 paid for the car in 4 years.

I know 3 years vs 4 years, but still gives some perspective.

To be correct perspective value for value, you would do a 6 years financing Tesla offers.

#1 at the end of the 3 years lease, the residual value is approx 50.1k give or take.

15k miles, 0.25 per miles over. I think other can give more info on lease since this is my first least.

25k down, if you put that into a 401k or mutual funds that currently on average gives 4-8% return, wouldn't that be better? Or use that to buy Tesla's stocks hahaha

 

[rjdoc74]

Or use that to buy Tesla's stocks

Yeah, I think that ship had sailed...

 

[freelancer]

Well. Did you pull the trigger yet? If so, what did you end up picking?

 

[rjdoc74]

I wish it was that easy for me. Issues:

1. Guy is taking my M5 to BMW dealer to get inspected. If all goes well, will start lease transfer process. Should take about a week.

2. Electrician came and gave estimate to install NEMA 14-50. Now waiting for Edison inspector to call me back and schedule appt since my electrician needs to talk to him re where to place additional meter.

3. I have an appointment to test drive all 3 models this coming Monday. Fortunately, Tesla dealership (or whatever you people call it) is 0.6 miles from my house.

4. Now this thread is convincing me I should be a lease vs buy. Decisions, decisions.

As you see, I am not even close.

 

[smilepak]

I wish it was that easy for me. Issues:

1. Guy is taking my M5 to BMW dealer to get inspected. If all goes well, will start lease transfer process. Should take about a week.

2. Electrician came and gave estimate to install NEMA 14-50. Now waiting for Edison inspector to call me back and schedule appt since my electrician needs to talk to him re where to place additional meter.

3. I have an appointment to test drive all 3 models this coming Monday. Fortunately, Tesla dealership (or whatever you people call it) is 0.6 miles from my house.

4. Now this thread is convincing me I should be a lease vs buy. Decisions, decisions.

As you see, I am not even close.

You need an additional meter? You didn't choice the time of use plan where you use existing meter? see my other thread for lease breakdown. will give you an idea how the lease look like

 

[rjdoc74]

You need an additional meter? You didn't choice the time of use plan where you use existing meter? see my other thread for lease breakdown. will give you an idea how the lease look like

I live in a condo, so HOA board wanted an additional meter installed just for my NEMA 14-50. Fortunately, Edison is doing it free of charge.

 

[smilepak]

I live in a condo, so HOA board wanted an additional meter installed just for my NEMA 14-50. Fortunately, Edison is doing it free of charge.

Interesting. On the Edison page, they do offer the additional meter solution. They say they will do it free of charge to install the line of the meter, but the actual connecting the meter together you pay for it.

[On the Electric Vehicle Plan (TOU-EV-1) electricity used to charge your electric vehicle is billed through a separate meter at a different rate than electricity used by the rest of your home. Lower rates apply during off-peak hours of 9 p.m. to noon. Rates change seasonally, and are higher in summer.

We will install the second meter as long as your home’s electrical infrastructure can support it. If you are considering moving to this rate plan, you’ll want to speak to a qualified electrician to understand the costs involved. See the full Electric Vehicle Plan details and view the chart below for more information on times. Call us at 1-800-4EV-INFO to talk to one of our SCE Home Fuel Advisors[SUP]SM[/SUP] to discuss if the Electric Vehicle Plan is a good fit for you./QUOTE]

https://www.sce.com/wps/portal/home...dl4/d5/L2dBISEvZ0FBIS9nQSEh/#/accordionGrp2-3

 

[rjdoc74]

Yep, sounds about right. If I can just get the damn Edison guy to call me back...