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Snagged a P90D Inventory car for $700/mnth on the new 24 month lease
- Thread starter SoCal Jimmy
- Start date
Yeah, the 2016 Models are slightly higher in cost since the discount is less, plus add in Ludicrous option, that sounds about right. Although, I'm not sure about the $12k out of pocket to start, unless that's a NY thing.
That's where the 2015 models shined in pricing.
That's where the 2015 models shined in pricing.
Xenoilphobe
Well-Known Member
When I spoke to my SA this a.m. he said the residual on 2 year is 68%.
FYI... shout to @SoCal Jimmy. I'm the fellow TMC member he was referring to in his original post. I was looking at the P90D for a week and he totally help encourage me to snag the smokin' deal that I might have otherwise passed on.
Thanks!
AZ Desert Driver
Rare combination
I want in on this. I guess I need someone like your SA to help me find/configure/sort out the lease. I'm just sitting here at midnight trying to understand the deal and getting lost in the weeds. If anyone out there has a name/email of a competent sales advisor---I am READY to pull the trigger. [got too many questions for public forum, but will share iterations]
Look at the delta triangle (next to price) on the P90DL's on ev-cpo.com Many have started to come down to $30,000 off those models (start at $135k-142k and down to the teens or below after a few thousand miles and couple months on the road). Discounts that large are "classic" builds, not "facelift".
I agree - CPOs should be leased through Tesla Finance. They could even be bundled into short-term bonds to handle the financials. As long as they are insured by drivers, they're as safe as a Solar lease.
One thing is if Tesla Finance leases a new car, it is deemed a "sale" but actually Tesla still owns it. Then if they lease it next as a CPO, they still own it then too.
Tesla makes adjusts to the residual value based on how many miles the inventory/demo vehicle has. At 5k or more, they lower the residual 1%, so you finance that extra 1%.
The two cars we picked up and the one @Rahul did were 102k after discounts. A P90DL, $142k, discounted 30k will still be approx $3k more if you residual 67-68% of the $10k difference, which will add approx $140 more to your car payment. Still, at $840-850 a month for a P90DL for 24 months is a great deal.
I had my OA check last night. There are no more P90D without L left. The cheapest lease at the moment was $826 for a P90DL somewhere back east.
deonb
Active Member
I meant 15k.. What's the residual for 24 month / 15k miles a year?
I suspect this would add at least $150 to the monthly but just want to confirm.. Thanks
That car isn't discounted very much.
It's missing quite a few options:
21" wheels
High Fidelity sound
Air suspension
Premium interior and probably others.
At least 10k in options missing compared to the other deals found in the last couple days.
To be fair though, this is a brand new inventory car with only 50 miles. The lease though for 24 months won't be as attractive.
3% difference. Approx $140 a month more on a 24 month term.
Which means you paid $3300 for 10k miles. It's cheaper to pay the overage of .25 cents at the end for the exact amount you went over the 10k allocated.
Maybe you only go 3k over each year. Then you over paid for 2k miles.
Smart.. I did not even think about that in this case it makes more sense to buy the miles. too bad there is that big down payment
I assume such deals are only avail on P90Ds? E.g no discounts on anything else?
Thanks! Lots of good info on this thread. $700 a month for a $130k car is a killer deal, even despite $5k down. Congrats to whoever got that.
I assume such deals are only avail on P90Ds? E.g no discounts on anything else?
Thanks! Lots of good info on this thread. $700 a month for a $130k car is a killer deal, even despite $5k down. Congrats to whoever got that.
Garlan Garner
Banned
Only $1K a month.
Who are you people? You must have found a way to grow money trees.
Garlan Garner
Banned
I even debate this with my wife at times......
$700 dollars a month is a good deal however is $700 a month.
Too often people buy $700 a month cars when they only have $350 a month available. Stupid banks are still giving people loans outside of their means in order to compete with other banks. I thought this last "recession/depression" would have educated people and banks.
$700 dollars a month is a good deal however is $700 a month.
Too often people buy $700 a month cars when they only have $350 a month available. Stupid banks are still giving people loans outside of their means in order to compete with other banks. I thought this last "recession/depression" would have educated people and banks.
@SoCal Jimmy,
Thanks for the heads-up on this. I found a good deal (not as good as yours!) on an inventory pre-refresh P90DL and pulled the trigger on a 2-year lease this afternoon. Only problem is now I will probably get spoiled with P and L and will be locked into the PXXDL Model 3 when it comes out. But was leaning that way anyway so I guess that's ok.
Thanks for the heads-up on this. I found a good deal (not as good as yours!) on an inventory pre-refresh P90DL and pulled the trigger on a 2-year lease this afternoon. Only problem is now I will probably get spoiled with P and L and will be locked into the PXXDL Model 3 when it comes out. But was leaning that way anyway so I guess that's ok.
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Wshowell
Member
Haven't found the way to grow it on trees yet but I have taken a different approach than some.... I've been buying rental properties these past few years to secure an early retirement. Sinking almost all our investable funds from my business into this strategy and living below our means. Late last year we hit our goal for # of acquisitions of trashed bank owned properties and I was ready to make a discretionary purchase on a new Tesla mostly as a high tech toy. Instead, I found a house the bank wanted to offload quick for $110K that also needed a ton of work, time and money. Ugh, can I handle one more? I offered $85K cash (my Model S cash to be exact) hoping the bank would reject the low ball offer. Instead, they took it and we closed end of January. I spent a month on and off sleeping on a cot at the house fixing it up plus $10K credit card funds in repairs, replacements. By mid March I rented it for $1200/month. Buying this house wiped out the Model S money and I am beating down the CC debt before the 0% period runs out early next year. I think it was a much smarter and better decision. Here's why. After taxes, insurance and even a 15% repair" fund I still have $700 left over for a lease payment (income tax is another story). I've never leased before and always tried to be a cash buyer. I wish I had my new Model S months ago but I feel buying this property was the better move. I know this strategy is not for everyone but I'm a firm believer of paying yourself first and being prepared for a rainy day. As a family we try to balance our wants and needs and occasionally splurge but have been on a "spending freeze" since 2008 and acquired 12 properties in total. Not all are free and clear but they will be in 2020 and the last kid finishes college in 2023 and then retirement at 56. Wife still hasn't bought into the concept and wants a new kitchen first (35 years old and very 1980). Grrrrrrr, trying to negotiate a reasonable compromise....
