Should I buy my current leased X?

[jboy210]

My 2018 X75 lease is up in June. Given that the new 2021 X is not available yet for test drives, and the delay to get one could push me into next year, I was wondering if I should exercise the purchase option. I can purchase the car for about $55K. KBB shows $62K trade in $67K private sale. It has 22,000 miles with EAP and free Supercharging for life which might still work. I think I do have to start paying the $10/mo entertainment fee.

Thoughts?

 

[Les236]

I love my X and if I had to part with it for a year waiting for a new one, well I don't think I could. Sounds like you have it figured out. It is low mileage and you know its history. Sounds like you'd be able to buy it, and then sell it in a year or so once you can get a new one.

 

[henderrj]

Who holds your lease? I thought Tesla allowed the lease to be extended on a month-to-month basis. If that's the case that might be the safer way to go. It's hard to tell what will happen with used prices once the refresh is readily available. The old units may drop precipitously. Actually, I'm kind of hoping for that. I plan to change from an S to an older X when that happens. Retirement income, just doesn't equal full-time work income!

 

[jboy210]

Who holds your lease? I thought Tesla allowed the lease to be extended on a month-to-month basis. If that's the case that might be the safer way to go. It's hard to tell what will happen with used prices once the refresh is readily available. The old units may drop precipitously. Actually, I'm kind of hoping for that. I plan to change from an S to an older X when that happens. Retirement income, just doesn't equal full-time work income!

Lease is through Tesla.

I had not considered the price taking a dive. I was actually thinking it might go up since the new base price is $10K more.

 

[Super_Popular]

75's are really hard to sell private party and Tesla will not give you jack diddly for it upon trade in. I would give it back to Tesla.

 

[Bigriver]

KBB shows $62K trade in $67K private sale.

That’s about the same numbers KBB show for my 2017 100D with FSD and 44,000 miles. I have not tried to sell my car, but I’m highly skeptical of those quotes.

I think I do have to start paying the $10/mo entertainment fee.

I wouldn’t expect that you have to. If it’s a June 2018 that stays with the car. Those who have to pay started having to pay after 1 year. Unless Tesla counts this as a car passing back into their possession, then they could strip it of the free premium connectivity. If that’s the case, tho, they could strip it of the free supercharging.

 

[r0xx0r]

I would prefer you lease a new one & extend your current lease until you get the new car.
You can see Tesla cars are now getting updated hardware frequently, not like 2012-2018 peroid anymore. So the tradein value is actually driving down dramatically. Tesla offered my AP2.0 (upgraded to HW3.0, FSD, full option, 5 seats) 2017 X75D $42k.

 

[jboy210]

I would prefer you lease a new one & extend your current lease until you get the new car.
You can see Tesla cars are now getting updated hardware frequently, not like 2012-2018 peroid anymore. So the tradein value is actually driving down dramatically. Tesla offered my AP2.0 (upgraded to HW3.0, FSD, full option, 5 seats) 2017 X75D $42k.

The issue with ordering a new X is I have not seen let alone driven one with the potential yoke steering wheel and lack of physical direction controls. On one level I hate these, but if I can drive a car with them I might change my mind.

 

[CapeOne]

I had not considered the price taking a dive. I was actually thinking it might go up since the new base price is $10K more.

I think it’s much more likely used prices/values will drop once deliveries of the new MX start because there will be a flood of used MXs on the market. That, and the chip shortage will hopefully be under control by then and bring overall inventories back up to normal and prices back down to normal.

 

[OrbiterTI4]

Punch your VIN into Vroom/Carvana to get offers on buying your X to compare to the buyout to see if you have equity or not.

I agree with the others that a) when the refresh starts getting delivered, the value will go down and b) 75s are the worst "value" right now, since the same cost can get me can get me a new, 3 yrs warranty remaining, far-more-road-trip-capable Y than an out-of-warranty X.

 

[pkitch]

I would extend month to month to the maximum possible. I don't know how long they will allow but for example BMW for me extended up to 6 months. Your buy rate will still be 'structured' to the existing depreciation schedule and mileage allowance during this period rather than floating to market demand (again based on my experience with BMW leasing).
Dependent on the actual availability of the new X, you will have a far more accurate picture of how used prices will fluctuate (I agree with others here I would expect to drop and that the current trade-in amounts you're stating aren't likely to be accurate). If you decide you don't like the new ones you can either buy your existing one or another used one which will likely by then be significantly less than your current buy-out. Tesla *may* also negotiate with you on that buy-out price - some manufacturers will, others will not (BMW).

 

[msm859]

My 2018 X75 lease is up in June. Given that the new 2021 X is not available yet for test drives, and the delay to get one could push me into next year, I was wondering if I should exercise the purchase option. I can purchase the car for about $55K. KBB shows $62K trade in $67K private sale. It has 22,000 miles with EAP and free Supercharging for life which might still work. I think I do have to start paying the $10/mo entertainment fee.

Thoughts?

I would keep it. In 3 years you have only driven 22k miles. I suspect the range of the 75 works for you. Either buy it or put $100 down on a new one and ask Tesla to extend the lease. Worst case scenario you hate the revisions and lose $100. At that point you can buy or walk away from your 2018.

 

[jboy210]

I think I am going to order a new X LR. The delivery dates are now Jan-Feb 2022. Hopefully, before that time I can test drive a late 2021 X with the new steering wheel and direction selector. And if I hate them I can cancel and move onto something else.

 

[tccartier]

The issue with ordering a new X is I have not seen let alone driven one with the potential yoke steering wheel and lack of physical direction controls. On one level I hate these, but if I can drive a car with them I might change my mind.

This right here, and I'm listening.. I too have been wondering what the new S might be like without some sort of physical control to select the gear that I want. (What could possibly go wrong) .. And I might want to see how that yoke may work as well before I paint myself into a corner for a new Model S.

As far as worrying about what the thing will sell for or won't sell for at some future date? who cares cars are depreciating assets buy the one you like and drive it as long as you want sell it when you want you're paying to use and enjoy it . Nobody ever got wealthy using automobiles as an investment vehicle. Unless of course we're talking rare collector type vehicles. Or perhaps someone that's in the business of flipping cars everyday.

 

[Roy2001]

Given the current situation, you'd better keep it. You can always sell it

 

[jboy210]

This right here, and I'm listening.. I too have been wondering what the new S might be like without some sort of physical control to select the gear that I want. (What could possibly go wrong) .. And I might want to see how that yoke may work as well before I paint myself into a corner for a new Model S.

As far as worrying about what the thing will sell for or won't sell for at some future date? who cares cars are depreciating assets buy the one you like and drive it as long as you want sell it when you want you're paying to use and enjoy it . Nobody ever got wealthy using automobiles as an investment vehicle. Unless of course we're talking rare collector type vehicles. Or perhaps someone that's in the business of flipping cars everyday.

On the current car, we already have a 2020 Model 3 LR we hardly drive (working from home forever) so we decided buying the X would be a waste of cash. Maybe I will buy 60K more of crypto instead.

The new X will not be here until Jan/Feb 2022 and Tesla has said they should have a demo model well before then so I can see if I can handle how the new steering wheel and lack of direction selector. If it does not work I will just cancel the order and look at other vehicles. There should be other EV SUVs out by then.

 

[VikH]

My 2018 X75 lease is up in June. Given that the new 2021 X is not available yet for test drives, and the delay to get one could push me into next year, I was wondering if I should exercise the purchase option. I can purchase the car for about $55K. KBB shows $62K trade in $67K private sale. It has 22,000 miles with EAP and free Supercharging for life which might still work. I think I do have to start paying the $10/mo entertainment fee.

Thoughts?

Call Tesla Finance at 844-837-5285 (this number is hard to find on their site) and ask for a lease extension. They were very nice and they let me extend my already extended lease while I wait for my Model Y P.

 

[rocketshipp85]

I would prefer you lease a new one & extend your current lease until you get the new car.
You can see Tesla cars are now getting updated hardware frequently, not like 2012-2018 peroid anymore. So the tradein value is actually driving down dramatically. Tesla offered my AP2.0 (upgraded to HW3.0, FSD, full option, 5 seats) 2017 X75D $42k.

Let me know if you decide to sell/trade it in. I could offer you more then your trade in+ tax savings advantage

 

[VikH]

Let me know if you decide to sell/trade it in. I could offer you more then your trade in+ tax savings advantage

My buyout was $97k for my 3.5 year old 2017 MX P100DL AP2.0 MCU1 6-seat with 38k miles. Let me know

 

[Dov888]

My 2018 X75 lease is up in June. Given that the new 2021 X is not available yet for test drives, and the delay to get one could push me into next year, I was wondering if I should exercise the purchase option. I can purchase the car for about $55K. KBB shows $62K trade in $67K private sale. It has 22,000 miles with EAP and free Supercharging for life which might still work. I think I do have to start paying the $10/mo entertainment fee.

Thoughts?

I was driving a 2018 X D100 and loving it. With a lease expiration 3/25/21 and a buyback at $70,000.,, I thought that my Feb.2, 2021 order of the new X long-range model would transition smoothly. My error. Had I purchased, I would still be driving it today, as there is no new X on the street yet in California. As for value, I could have sold that car for $80,000.00. So here I am, driving around a borrowed 2012 VW Jetter and checking on line for the projected August arrival of my new Tesla. Did I consider any of the other electrics out there? Rather drive the ol' VW.