Structure a buyout or lease transfer 2021 model Y

[peter_cd.cn]

Hello, my friends(Sam) has this Tesla that he is looking to end the lease early. I would like to get the car from him. For him, he needs a 7 seater minivan with growing family. For me, I am looking to buy a decent Model Y with with no so inflated price. Hot car market pushed me out of my car buying budget.

Here is the situation:
2021 Model Y white, Full AP, 30k miles, upgrade wheels, 36 month lease, first lease payment 11/17/2020,
Down pay $10k; monthly $610; total monthly: 610 x 36 = $21,960; Total payment: $31,960 (amount by the end of the lease)
Residual Value: $41,000
Agreed Value as equipped: $61,300

30,000 miles for leased term. (2 years in, Sam used all miles. Extra mile is 25c per mile). Car in good condition. Wheels has some curb rash, and car has some stickers.

For Transfer lease, Tesla says it needs to have 13 or more payments left. 11/17/2022 is the 24th payment (exactly 2 years). Sam put hold on a new mini van, it won't be here until end of the year. His plan is to trade in this leased vehicle with Toyota dealer.

Questions:

How should we structure the deal? It seems kind complicated. I may not able to transfer lease if he already made 10/17/2022 the 13th payment.

Can I buyout this car from Tesla before lease ends? If so, how much should I pay Tesla and how much should my friends get? Title will be under my name.

Will Toyota dealer take a leased vehicle as trade in? If so, how much will Sam get? We were thinking I will pay Sam whatever dealer offers. Instead dealer gets this car and resale it. I would buy it from Sam.

This is all very confusing. Hopefully someone can shine some light on this. Help us structure a fair deal that's win win.

 

[SteelClouds]

You can’t trade in a leased Tesla. Nor can you buy out the lease. Not since April or so 2022. You CAN transfer the lease but that’s all. You sound like you are thinking you can buy it out or trade it in. Read the fine print from tesla for leases. If this is a model 3orY, it doesn’t matter, can’t buy it out.

From Tesla

If you leased your vehicle before April 15, 2022, you may be eligible to purchase your leased Tesla. Review your lease agreement to see if you qualify.

Eligibility

• All Tesla vehicles delivered on or after April 15, 2022 are not eligible for purchase.
• Third-party dealerships and third-party individuals are not eligible to purchase leased vehicles.
• Model 3 and Model Y leases are not eligible for purchase regardless of delivery date.

Fees

• A purchase fee of $350 applies to cars delivered after April 13, 2019.
• Local taxes and fees apply.

 

[jjrandorin]

Can I buyout this car from Tesla before lease ends? If so, how much should I pay Tesla and how much should my friends get? Title will be under my name.

No. There is NO BUYOUT available on a tesla model Y lease whatsoever. There is NO WAY for him to buy it, you to buy it from him, or him to sell it to a dealer and them sell it to you. None whatsoever, so give that idea up, it is not going to happen.

The ONLY thing that could happen is he could lease transfer it to you, you assume the lease, and then YOU turn it in, at the end of the lease. Unless something changes, you will NOT be able to buy the lease at the end... at all, do not pass go, do not collect $200.

@SteelClouds , only X and S were available to buy at the end, model 3 and Y leases have never been available to buy at the end. Model 3 leases at the beginning could be sold to a dealer, but that ended in October of 2021, so there is nothing this OP can do but a lease transfer, as you pointed out.

 

[Arthur31]

You can also do a lease extension ( within 90 days of the lease expiring). So I imagine you can do a transfer then keep extending the lease so you don't have to return it.
Or your friend can keep extending the lease and you make the payments?

 

[peter_cd.cn]

only X and S were available to buy at the end, model 3 and Y leases have never been available to buy at the end.

That sucks, my friends Sam the lease owner thought he can buy the model Y at the end of the lease.
Looks like that's never the case. Doesn't matter if it is before or after 4/15/2022.

Well, I personally never leased a vehicle. Lease vs loan or cash buy is a whole another discussion.

Okay, I won't structure anything with him at all. I will tell Sam that he will have to keep the model Y till the lease ends and buy the mini van at the same time if he really needs a mini-van.

No buying the Tesla Model Y at lease ends.

Thank you for clarifying.