Tesla lease buyout - crazy penalty or error?

[Lhshockey24]

Has anyone recently had any experience negotiating a buyout less than the residual value? We have a Model X P100D with over 40K miles. Residual is $98K, but a brand updated new car is $119K... You would think like others have stated they would rather deal with me than put the car back on the market next year (when the lease is up) for $20K less than the residual...

 

[sandpiper]

Has anyone recently had any experience negotiating a buyout less than the residual value? We have a Model X P100D with over 40K miles. Residual is $98K, but a brand updated new car is $119K... You would think like others have stated they would rather deal with me than put the car back on the market next year (when the lease is up) for $20K less than the residual...

I doubt they'd do it. That would set a bad precedent and open the floodgates for people to try to negotiate on residuals with every car turned in.

 

[sandpiper]

Has anyone recently had any experience negotiating a buyout less than the residual value? We have a Model X P100D with over 40K miles. Residual is $98K, but a brand updated new car is $119K... You would think like others have stated they would rather deal with me than put the car back on the market next year (when the lease is up) for $20K less than the residual...

What I did do, on my prior P85D, was to negotiate a turn-in/buyout/trade in one shot near the end of my lease. At the time, the trade-in value of the car was about $20K more than the residual. That was because the Canadian dollar dropped substantially between the times that the lease started and ended.

Theoretically I had the option to option to buy it out for the cost of a couple of lease payments + the residual, and then trade the car in on a new one, with the trade being worth about $20K more than what I paid out for it. Rather than go through that paperwork, they agreed to accept the old car back, send me a cheque for $20K and then start the lease on the new car. It worked out the exact same way, but it was less paperwork.

 

[JPoldo]

Thanks. Yes, the best option is to wait. I just thought Tesla would/will? provide some incentives to keep me in the brand. But as some others said, Tesla is doing things differently.

I have a similar situation as OP except my lease ends in 13 months. It's stunning to see that most Tesla leases have a much higher residual value than market value. I can't understand why any leasee would want to buy the vehicle. A brand new ms will have so many new features (suspension, AP, MCU, motor, Sentry, range, etc). Yes, you won't get a sunroof or free supercharging, but these may not be major factors. Frankly, I'm looking forward to new ms features and a refresh in the latter half of 2020.

 

[Lhshockey24]

I have a similar situation as OP except my lease ends in 13 months. It's stunning to see that most Tesla leases have a much higher residual value than market value. I can't understand why any leasee would want to buy the vehicle. A brand new ms will have so many new features (suspension, AP, MCU, motor, Sentry, range, etc). Yes, you won't get a sunroof or free supercharging, but these may not be major factors. Frankly, I'm looking forward to new ms features and a refresh in the latter half of 2020.

Elon has confirmed there is no refresh in the works (noted in many other threads here) however there will probably be some cool new features. The residuals on these cars is insane. HOWEVER - you do get to keep free supercharging if you continue to own the car after the lease is up.

 

[Chopr147]

I have a similar situation as OP except my lease ends in 13 months. It's stunning to see that most Tesla leases have a much higher residual value than market value. I can't understand why any leasee would want to buy the vehicle. A brand new ms will have so many new features (suspension, AP, MCU, motor, Sentry, range, etc). Yes, you won't get a sunroof or free supercharging, but these may not be major factors. Frankly, I'm looking forward to new ms features and a refresh in the latter half of 2020.

All situations are different. I am buying out my 75D at $49,800. Market value when I look around. I thought about buying new but then I'm looking at over $90k easily. Plus I have taken VERY good care of my car. Decided to save the $40k. Add $2100 for the 2 year extended warranty. I'm happy with the decision

 

[Chopr147]

Just a side note. I received a buyout price via email. I replied with a question about the amount( my residual is less on lease contract) 3 weeks ago. In typical Tesla form, I have not received a reply, correction or even a final invoice.

 

[JPoldo]

All situations are different. I am buying out my 75D at $49,800. Market value when I look around. I thought about buying new but then I'm looking at over $90k easily. Plus I have taken VERY good care of my car. Decided to save the $40k. Add $2100 for the 2 year extended warranty. I'm happy with the decision

I agree and pleased to hear you are happy with buy decision. Like you, I have taken VERY good care of my car and have very low mileage. However, getting new features is most important to me, so probably will get a new lease. I'd like to have full Sentry mode, adaptive suspension, longer range, and more goodies they introduce.

Since your buyout is at $50K, how much lower is market price? But most of the market cars won't match the condition of yours.

 

[Chopr147]

I'd like to have full Sentry mode, adaptive suspension, longer range, and more goodies they introduce.

I agree. I have gone with the new tech so many times over the years. This time I buried those impulses Looking on Tesla used, Auto-Trader and other used car sales, the market price is more than 50K for my car. Now granted, I have money already into it but I feel it is fair. Used refresh 90D's are scarce or too expensive for me. I hemmed and hawed but once I made the decision, I do not look back.

 

[johnking]

I have wrapped my leased car (2017-MS75D) with paint protection film. The other day I was having a chat with the Tesla ownership advisor about returning my S early and buying a new perf MX. I was told that the paint protection has to be removed while returning the car after the lease otherwise there is a charge for it. That's the first I have heard of getting punished for taking good care of the car. Their argument - ' You return the car with the same condition we gave you'. I am inclined towards buying my car at the end of the lease anyway (bought FSD, wrapped the car, free supercharging). Residual 52K and trade-in value is about the same per Tesla and KBB comes it a little higher. The raven P100D model X with free supercharging is tempting though....

 

[AMPd]

I have wrapped my leased car (2017-MS75D) with paint protection film. The other day I was having a chat with the Tesla ownership advisor about returning my S early and buying a new perf MX. I was told that the paint protection has to be removed while returning the car after the lease otherwise there is a charge for it. That's the first I have heard of getting punished for taking good care of the car. Their argument - ' You return the car with the same condition we gave you'. I am inclined towards buying my car at the end of the lease anyway (bought FSD, wrapped the car, free supercharging). Residual 52K and trade-in value is about the same per Tesla and KBB comes it a little higher. The raven P100D model X with free supercharging is tempting though....

Interesting, now I’m wondering if I should remove the window tint.
I’m currently on a month to month extension, but plan on returning it next month.

 

[johnking]

You might be lucky. I told them I have it wrapped with PPF and have all my windows tinted. They didn't comment on the tint but talked more about the PPF. Perhaps someone in this forum who has returned their lease and had tinted windows would be able to help.

 

[Chopr147]

I would just like Tesla to reply to my lease return emails!!!