What did you end up having to do? I'm still waiting on mine and I ordered before @SoCal Jimmy! The last lease quote I received was $6K down putting me at $726/mo.
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Snagged a P90D Inventory car for $700/mnth on the new 24 month lease
- Thread starter SoCal Jimmy
- Start date
hmmm
Member
Not to make it even more difficult for those of you waiting for their cars, but I finally managed to take my P90DL for a good spin, including errands and a 40 mi RT highway commute in stop and go traffic. Here are my observations:
- The usability spectrum of the car so to speak is phenomenal: super quick off the line (doh!) but also a gentle cruiser with TAAC on. Planted yet comfortable, a true all around car. I feel like it may be less of a speeding ticket magnet ("may" being the operative word...) than other fast cars on the highway. Not so sure about potential reckless driving tickets when launching it from a red light one too many time though. I guess you can't have it all.
- I feel at home in the car right away. I had taken test drives over the years so was familiar with the layout, but it just fills right from the very first mile. And yes, it's big, but not as big/a pain to park as I had read.
- I like the minimalist feel (ie no door pockets etc). That will force me to streamline my crap anyway.
- TAAC in stop and go traffic is reasonably smooth, but can/will get smoother. I am still puzzled when the car starts accelerating when I signal a lane change too. I get the logic, I will need to get used to it a bit more.
- I tried AP this morning on the highway and honestly it feels like a gimmick at this stage, at least from my very limited experience with it.
- Max regen is easier than I thought. I forgot it was even on after 5mn.
The only thing that bugged my at first was the stereo (I know, right?). It really felt too centered around the driver's windshield base and lacked fullness and depth. After doing a bunch of research, there are a lot of threads on the topic (so it wasn't just my ears...) and there are non obvious ways to work around/with it (as in turn dolby off...), so make sure to research this if you're first less than impressed by the set-up like I was.
Any other findings from folks having picked up cars with this thread or MS veterans that can educate the newbies
- The usability spectrum of the car so to speak is phenomenal: super quick off the line (doh!) but also a gentle cruiser with TAAC on. Planted yet comfortable, a true all around car. I feel like it may be less of a speeding ticket magnet ("may" being the operative word...) than other fast cars on the highway. Not so sure about potential reckless driving tickets when launching it from a red light one too many time though. I guess you can't have it all.
- I feel at home in the car right away. I had taken test drives over the years so was familiar with the layout, but it just fills right from the very first mile. And yes, it's big, but not as big/a pain to park as I had read.
- I like the minimalist feel (ie no door pockets etc). That will force me to streamline my crap anyway.
- TAAC in stop and go traffic is reasonably smooth, but can/will get smoother. I am still puzzled when the car starts accelerating when I signal a lane change too. I get the logic, I will need to get used to it a bit more.
- I tried AP this morning on the highway and honestly it feels like a gimmick at this stage, at least from my very limited experience with it.
- Max regen is easier than I thought. I forgot it was even on after 5mn.
The only thing that bugged my at first was the stereo (I know, right?). It really felt too centered around the driver's windshield base and lacked fullness and depth. After doing a bunch of research, there are a lot of threads on the topic (so it wasn't just my ears...) and there are non obvious ways to work around/with it (as in turn dolby off...), so make sure to research this if you're first less than impressed by the set-up like I was.
Any other findings from folks having picked up cars with this thread or MS veterans that can educate the newbies
The simultaneous smoothness/ violent power is something unique to electric drivetrains. Few traditional engines can pull that off short of the very recent twin turbo V8 mills from Audi and Mercedes and even they pale in comparison to the S's ability to violent push you into your seat one minute and then 10 seconds later accelerate with the smoothness of butter.
The more you use Autopilot the more you'll trust it. It's anything but a gimmick. In a city like LA where I'm sitting in bumper to bumper traffic some days just to travel a few miles, it's priceless. Even today I popped out 60 miles one way to meet a customer. Autopilot would have been amazing in that situation. You'll love it.
The more you use Autopilot the more you'll trust it. It's anything but a gimmick. In a city like LA where I'm sitting in bumper to bumper traffic some days just to travel a few miles, it's priceless. Even today I popped out 60 miles one way to meet a customer. Autopilot would have been amazing in that situation. You'll love it.
You should be regretting your decision lol, i was so upset i contemplated the 1st go-around (w/o ludicrous), and when the 2nd batch got discounted w/ L I jumped on it within 5 minutes. Was also able to snag an extra one for my BIL.
Chopr147
Active Member
The AP is also great in that stop/go traffic. I'm sure many of TMC commuters can attest to that. Continue to use AP and that gimmick will grab you and shake you forcing it's use on you more and more
That has been my limited experience with it. I felt the summon was gimmicky but end up using that as well
wbhokie
Member
I just found this thread today... ugh... I feel like I missed out on most of the opportunities here. I'd love to find a similar lease deal.
n2mb_racing
Active Member
I'm probably a few weeks from delivery. The car just went into the body shop to have hail damage repaired.
n2mb_racing
Active Member
I just asked for the lowest possible down payment. It might different from state to state or something to do with credit scores and history. Don't know.
That's a great deal, though. You have the same deal as me. ~$25k over 2 years.
n2mb_racing
Active Member
I'm still kind of baffled at how they compute their monthly payments...
My Tesla "Credit Specialist" said my car's residual value will be $94,547 at the end of 2 years, if I wanted to buy it (not likely!)
The MSRP is $142,700.
The price is $108,900.
Downpayment is $5,000.
Tax credit is $7,500.
That means their expected depreciation is only $1,853? or $77 / mo.
That doesn't make any sense and wouldn't yield a monthly payment of $769 / month, since the interest is only about $343 / mo...
My Tesla "Credit Specialist" said my car's residual value will be $94,547 at the end of 2 years, if I wanted to buy it (not likely!)
The MSRP is $142,700.
The price is $108,900.
Downpayment is $5,000.
Tax credit is $7,500.
That means their expected depreciation is only $1,853? or $77 / mo.
That doesn't make any sense and wouldn't yield a monthly payment of $769 / month, since the interest is only about $343 / mo...
n2mb_racing
Active Member
Right, so...
108,900 - 7,500 - 5,000 = $96,400
The residual is $94,547
Almost no depreciation?
Tax credit is added to the residual, you don't get to subtract it as cap reduction. Residual is 87047 + 7500 = 94547.
$108,900 - ($94,547-$7,500) = $21,853
$21,853 - $5000 = $16,853
$16,853/24 = $702
$702 + taxes + lease fees = $769/month?
How they handle the tax credit is totally bogus. They get a federal credit, and then Tesla, or the bank adds this $7500 back? How is this legal?
$21,853 - $5000 = $16,853
$16,853/24 = $702
$702 + taxes + lease fees = $769/month?
How they handle the tax credit is totally bogus. They get a federal credit, and then Tesla, or the bank adds this $7500 back? How is this legal?
tmarcc
"Everyone has a right to a wrong opinion."
My interpretation: that's why these lease payments are (relatively) low. The provided a significant discount on the MSRP, leading to a lower cap cost. Conversely, the very high residual value is likely based on the original MSRP, made even higher by the addition of the $7,500 tax credit to that residual value.
There is a benefit to such a high residual value: it results is a very narrow range between the discounted vehicle price and the high residual value. This narrow range, divided by the 24 months, is why the lease payments are so low (even considering the high money-factor / interest rate). But here's a downside to having such a high residual value: it means that it isn't worth buying the car at the end of the lease, since the price will be so high.
So folks shouldn't go into this lease with the expectation that they'd by the car at the end of the lease.
There is a benefit to such a high residual value: it results is a very narrow range between the discounted vehicle price and the high residual value. This narrow range, divided by the 24 months, is why the lease payments are so low (even considering the high money-factor / interest rate). But here's a downside to having such a high residual value: it means that it isn't worth buying the car at the end of the lease, since the price will be so high.
So folks shouldn't go into this lease with the expectation that they'd by the car at the end of the lease.
n2mb_racing
Active Member
Hmm. That does exactly work then...
But how would the car at the end be eligible for the new car tax credit? It's already 2 years old at that point. I thought the tax credit was factored into the lease payments already.
Tesla captures that $7500. And it is factored into the lease payments by way of being added on to the residual value.
It will not be eligible, since it has already been "owned" by the bank that you lease it through.
What I don't understand, is how these cars will be worth that much in 2 years. I mean, I guess someone will want to pay that much, or Tesla will just lose money on each of these leases?
n2mb_racing
Active Member
Well, the spreadsheet model now exactly works, in case anyone is interested. It spits out the same number as Tesla gets.
Tesla Leasing Model
Tesla Leasing Model
