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Should I buy or Return my 2017 Tesla X at End of Lease

Lawforza

New Member
Jan 5, 2018
3
0
92626
The X 100D (5 seater, Silver exterior and beige interior) has 32,000 miles. My lease end purchase is $69,000. Should I purchase it at end of Lease in September '21? Or just turn it in?

My searches indicate the $69,000 purchase price is the norm ($69,000 - $77,000) given the used car market today and what I have researched. I don't want to lose my Founder status (free charging since '14).

Thought and opinions appreciated. Thank you.
 

Vitaman

Member
Supporting Member
Aug 9, 2014
586
213
Decatur, GA
Do not know the meaning of Founder status.
I have had 4 Teslas since 2013. Depending on Teslas's offerings at the time they either came with Unlimited free charging or not.
Free charging goes with the car rather than the owner. So you can charge a small premium for the charging when you sell it, you may or may not get that perk when you buy your next one.
Re pricing, although the market favors the Seller now, a 77K expectation may leave you disappointed. If my 2019 Performance with 11K miles fetches 80K when I sell it this Fall in preparation for a Plaid, I will be happy.
 
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Lawforza

New Member
Jan 5, 2018
3
0
92626
Do not know the meaning of Founder status.
I have had 4 Teslas since 2013. Depending on Teslas's offerings at the time they either came with Unlimited free charging or not.
Free charging goes with the car rather than the owner. So you can charge a small premium for the charging when you sell it, you may or may not get that perk when you buy your next one.
Re pricing, although the market favors the Seller now, a 77K expectation may leave you disappointed. If my 2019 Performance with 11K miles fetches 80K wh

User car market is HOT right now... pre covid my prime was KBB 15k, now its 21K. lol
I am aware of the hot used car market. My inquiry is specifically as it relates to the X and not other vehicles. It is hard to determine whether or not I should purchase as the comps via Auto Trader, Tesla.com (used Inventory) and Cars.com it has been hard to gauge. Thank you for your input thought.
 
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I am aware of the hot used car market. My inquiry is specifically as it relates to the X and not other vehicles. It is hard to determine whether or not I should purchase as the comps via Auto Trader, Tesla.com (used Inventory) and Cars.com it has been hard to gauge. Thank you for your input thought.
How do I say this tactfully? The fact that comps are hard to gauge should be a sign. The fact that Tesla has very few used vehicles in their inventory should be a sign. Everyone who ordered a new S/X with the intention of replacing their leased vehicle has been sitting on what they had for 3+ months, more than 6 months in some cases. Buy it outright and flip it if you wish, but IMHO turning it in is walking away from gold.
 
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rkruff

Member
Aug 9, 2012
31
36
How do I say this tactfully? The fact that comps are hard to gauge should be a sign. The fact that Tesla has very few used vehicles in their inventory should be a sign. Everyone who ordered a new S/X with the intention of replacing their leased vehicle has been sitting on what they had for 3+ months, more than 6 months in some cases. Buy it outright and flip it if you wish, but IMHO turning it in is walking away from gold.
I leased my 2019 Raven LR in sep 2019 for 24 months. I sold it to CarMax two weeks ago for $74K. Since it was to a dealer I did not get charged for the sales tax. Residual was $57K so I got $17K to, in essence, turn in my lease two months early. Definitely better than just turning it in and giving Tesla heck of a deal. Just an option.
 
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gaswalla

Model S,3,X.. CT with Austin delivery
Sep 23, 2012
3,881
4,790
San Diego
All these numbers work out in your favor if you ignore your upfront cost and monthly payments..
As for OP, it comes down to what your needs are: do you *need* free supercharging? (for most, the savings is actually just a few hundred dollars at best per year.) Would you consider buying a used 2017 X? If so, keeping the lease is the better deal bc that car can't be bought for less than 69k currently. Would you rather get a Raven with longer range and upgraded features? Would you rather get a Plaid X? If the latter two, you're better off putting the 69k towards that purchase.
Keeping the lease and flipping it for a profit will yield very little.. it's just it's not a huge loss like it would be normally
 
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If you're planning on getting another X, you'll be waiting until at least January for a delivery. The temporary situation that's driving up the prices of used Model Ss and Xs will subside as production ramps back up and the value of the older S and X will also decline respective to the refreshed models. I had considered purchasing my Model S lease realizing that the added expense would not be recuperated - I did not proceed. I'm hoping that the Model X I've had on order over 5 months ago will arrive before my lease extension finishes.

You'll have to determine it's worth. If you're planning on keeping it for the long term, then you decide that value. If you're going for the flip I wouldn't suggest it as Tesla leases are prohibitively expensive and odds are the buyout will match or exceed what you'll get out of any deal in personally selling it.
 
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The X 100D (5 seater, Silver exterior and beige interior) has 32,000 miles. My lease end purchase is $69,000. Should I purchase it at end of Lease in September '21? Or just turn it in?

My searches indicate the $69,000 purchase price is the norm ($69,000 - $77,000) given the used car market today and what I have researched. I don't want to lose my Founder status (free charging since '14).

Thought and opinions appreciated. Thank you.
I just bought my 2017 lease, so I have some input for you.

1- I assume you know you can extend your lease beyond the 3 years by 6 additional months? that's an option that will enable you to order a new one and avoid the current tight market. If you are intent is to have just one - then this would be the best option only because you would be getting the significantly longer range and latest all around technology with the new car.

2- As I charge mostly from home, I valued the lifetime free charging AND free infotainment connectivity as being worth a couple of thousand dollars. Also, if you had bought autopilot upgrades at the time, these are also yours.

3- I opted to buy mine as a 2nd car for my family (I have a new one on order - so I will be keeping both). As an alternative for a 2nd car, I tried shopping for a later model car (with longer range) at a reasonable value at this time... In essence, my car was the best deal that I could get now. I am sure that next summer pricing will be different, but I wanted the car now.

4- Once I opted to keep the car, I had the infotainment upgrade done - and it really brought the car up to date - so, that's a worthwhile deal.
 
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I am aware of the hot used car market. My inquiry is specifically as it relates to the X and not other vehicles. It is hard to determine whether or not I should purchase as the comps via Auto Trader, Tesla.com (used Inventory) and Cars.com it has been hard to gauge. Thank you for your input thought.
I would suggest that you buy the car. In hopes of replacement perhaps, the order window could be in excess of 6 months at this time (July 2021). It will depreciate little during that period as you await your new drive...good luck!!
 
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You can actually take the sales tax out of the equation- if you buy your lease, you can just trade the car in later. It sounds like your buyout is pretty much spot on, I've been seeing similar deals popping up on Vroom for '17 X 100's in the low 70's but they are snapped up instantly. So might as well go with the bird in the hand.

I would suggest that you either buy the car, or trade it in before the lease ends if you desire something other than a Model X. If you definitely want to be driving a Model X, there is no reason not to buy your car as you just can't get a new one right now. Extending your lease probably isn't a good deal. I'm in the same boat on a Lexus that is coming up in September; original plan was to buy an X but I basically can't get one right now. However, I won't extend the lease as it adds $100/mo compared to my original lease since there are no incentives for the 6 month leases whereas the 36 month lease had tons.
 
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jboy210

Well-Known Member
Supporting Member
Dec 2, 2016
7,144
4,874
Northern California
You can actually take the sales tax out of the equation- if you buy your lease, you can just trade the car in later. It sounds like your buyout is pretty much spot on, I've been seeing similar deals popping up on Vroom for '17 X 100's in the low 70's but they are snapped up instantly. So might as well go with the bird in the hand.

I would suggest that you either buy the car, or trade it in before the lease ends if you desire something other than a Model X. If you definitely want to be driving a Model X, there is no reason not to buy your car as you just can't get a new one right now. Extending your lease probably isn't a good deal. I'm in the same boat on a Lexus that is coming up in September; original plan was to buy an X but I basically can't get one right now. However, I won't extend the lease as it adds $100/mo compared to my original lease since there are no incentives for the 6 month leases whereas the 36 month lease had tons.
Can you explain what you mean by taking the sales tax out of the equation? The OP will get charged California sales tax on the buyout which can range upwards of 10% of the buyout price.
 
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Can you explain what you mean by taking the sales tax out of the equation? The OP will get charged California sales tax on the buyout which can range upwards of 10% of the buyout price.
I was referring to the fact that after buying out the lease, he could trade in the car to get the next car whenever ready. Not sure if California follows what most other states do, but over here you only pay tax on the net difference when you trade. I plan to buy out my wife's lease right now then trade the car in a few months later, it's effectively just pre-paying the sales tax on the next purchase by paying it now; it doesn't get duplicated.
 
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F_vo

Member
Sep 25, 2016
68
15
Edegem
The X 100D (5 seater, Silver exterior and beige interior) has 32,000 miles. My lease end purchase is $69,000. Should I purchase it at end of Lease in September '21? Or just turn it in?

My searches indicate the $69,000 purchase price is the norm ($69,000 - $77,000) given the used car market today and what I have researched. I don't want to lose my Founder status (free charging since '14).

Thought and opinions appreciated. Thank you.
Well i would sell the car myself, free charging or not. Afterall if you get a total loss, free chargin is gone. For me all depends on the range.

Ordered a X Plaid, so range for me is around 80 miles more. Still thinking aobut the S long range though, but they upped the price again.

Does Elon Musk wants to be the richtest man in the world?

François
 
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