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Tesla leasing getting screwed

Discussion in 'Model S: Ordering, Production, Delivery' started by 647chang, Mar 18, 2015.

  1. 647chang

    647chang Member

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    I was told that the $2500 deposit is credit towards the down payment. So I'm thinking OK, $5000 down + $1290 first month. Add some taxes + fees should put me around $7000-$8000 down. $8000-$2500 deposit. Its seems like Tesla added a whole bunch of BS and now the its $7300 + my $2500 which is $9800 down. Anyone run into this. I think they were not up front with everything when you're buying the car. They got this governmental service fee @ $2278
     
  2. fiksegts

    fiksegts Active Member

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    yep, they did the same thing to my cousin, when he arrived to pay and pickup the car the amount due had increased substantially...



     
  3. 647chang

    647chang Member

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    What did you guy end out doing? Anyone know that this governmental service tax is? Never had to pay it with my other lease.
     
  4. arijaycomet

    arijaycomet Member

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    Sounds like the confusion we just had with my wife. When you configure a car on Tesla's web site, it seems to be around $7000 out of pocket. We knew the $2500 we put down would be applied towards the deposit, but what I didn't realize was the sales tax side of things. The breakdown for us was like this:

    $5000 deposit + tax <<-- we didn't realize we had to pay sales tax on the cap reduction
    + first payment
    + ALL the sales tax for the entire lease
    + $695 acquisition fee <--- also taxed?

    So where I had thought it might be around $7000 down, we're going to be shelling out closer to $8700 we've been told. I actually thought it would just below $7k, not closer to $9k. Ugh! The biggest issue here of course is that they quote cap reduction and first payment and acq fee, but they don't mention the sales tax. Not sure if that is just Ohio or how that works. We're waiting to hear back from the credit specialist if we can pay the taxes monthly which is how every other lease we've ever done has been structured. If so we'll do that... for us that turns out to be $50/mo, but I'd rather do that versus pay that extra $1800 up front.
     
  5. 647chang

    647chang Member

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    I was quoted $1190 pre-tax. On my lease agreement its $1290 monthly. $1290 is pretty close to 1190 + tax. Is Tesla trying to double dip on my taxes?
     
  6. murphyS85

    murphyS85 Member

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    The entire sales tax for the sale of the car from Tesla to the leasing company is due when the car is delivered. The state is not going to wait 3 years to get all of the sales tax money. How the leasing company passes the tax on to the person leasing the car is up to the lease company.
     
  7. arijaycomet

    arijaycomet Member

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    Ask them to see what the breakdown is of the $9800.... see what is what. I am 99% sure the final docs you'll see (when you sign, pickup, etc) will show that. But before you give them any more money I'd ask to see how it all works out in parts. My wife emailed back her credit person and he was able to provide her that data specifically. He also said he was going to look into reducing up front costs by placing the tax back into the payment (which is what we originally expected) so we're waiting to see that and how it pans out.
     
  8. David_Cary

    David_Cary Member

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    Before you make statements like that, remember we are talking 50 jurisdictions. In my state, they tax the lease payments so $1000 from Tesla should be $1030 in the end. I expect the CCR to also be 3% higher than quoted since that is just prepayment of the lease. But, I am due to pick up my car in 27 hours and they haven't let me know any hard numbers. Frankly, the DS has been pretty bad regarding communication. That combined with not being able to get next gen seats, I can see canceling my purchase if there was any funny business with numbers.

    Anyway, if all the OP is talking about is the mandatory collection of sales tax, perhaps the title should be changed.
     
  9. benfrank3

    benfrank3 Member

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    My buy payment is $1320, not understanding the value to lease. Leasing is mileage limited as well.
     
  10. 647chang

    647chang Member

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    According to the website it looked like it's about 7k down. From the test drive the sales adviser even said little bit over 7k but 8k should cover everything. Come to find out its over 9k for the down payment. I think tesla is very dishonest in disclosing your down payment. This makes me very mad.
     
  11. sundoc

    sundoc Member

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    I'm not sure what is happening now, but when I leased (2 mons ago) everything was straightforward and clearly defined. You should be receiving paperwork in advance outlining the breakdown and financial expectations.
     
  12. krisg81

    krisg81 Member

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    No problems with mine leasing either. Clearly defined, easy to read.. better tax incentives when leasing under a business.. CPA looked at paperwork after and said its all good.
     
  13. 647chang

    647chang Member

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    It seems that the governmental tax is part of my registration. They are registering my vehicle for me, or so they say. Talked to the dmv and they said I have the choice of having them doing it or myself. Tesla is saying I can't opt out of this.
     
  14. Dart

    Dart Member

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    How much did you have to put down and then over how many years do you have to make those payments? Probably 6 or 7. A lease is only 3 years of payments, with relatively little down, and after the 3 years, one is free to move on to a different vehicle. Teslas will probably be levitating by the time you are halfway through your payments :wink:.
     
  15. n33d45p33d

    n33d45p33d Member

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    I just got my lease paperwork since I'm picking up the car on Sunday. Everything is clear, I basically got the calculation exact so no funny business, they deducted the $2,500 deposit and the amount due at signing is what I had calculated. Not sure what happened with the OP, maybe missed something or you didn't fully understand? I'm really happy with the turn out, let's see how delivery goes!!
     
  16. 647chang

    647chang Member

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    They charged me a governmental tax fee which was my registration fee. They said if you lease from Tesla they must do it for you. That's where the extra cost came from, they never told me that was going to be added into the down payment. An extra $2200 came out of nowhere.
     
  17. n33d45p33d

    n33d45p33d Member

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    That governmental fee might be in your state, I certainly don't have that anywhere on my paperwork.
     
  18. benfrank3

    benfrank3 Member

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    $10k down, 5 years of payments. 2.1% interest. This loan was not financed with Tesla or their banking partners, it was with a credit union. I paid the sale tax out of pocket. I look at it as an asset because I owe less than I can sell for, and if/when I do sell the car I will walk away with a nice cash balance.
     
  19. birdsaresmarter

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    In this case it appears to be specific to Nevada. See Nevada Dept of Taxation. At a glance, saw 10% on short-term passenger vehicle leases. Seems they may have had to find some way to raise money in light of the "no income tax".
     
  20. 2Ts4me

    2Ts4me Member

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    A Tesla financial F---ing me the night before delivery!

    Well, it's like every other car-buying experience I've ever had: I ordered a P85D 2mos ago. Car is at the dealership, sposed to pick up this morning. Last night they send me the lease doc and the pmt is $100/mo more than we agreed on IN WRITING. This has nothing to do w me or my credit. They claim it's due to a change made by US Bank??
    This is BULL----!!! They need to honor their prior terms. They need to eat this $100/mo.
     

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