I'm currently leasing a Lexus NX 300 F Sport for $474 a month, which is perfect for my remote work situation and reduced driving. I have the opportunity to sell this car, potentially generating $6,000 in positive equity according to the dealership.
My plan is to use this equity as a down payment for a Model Y Long Range in Deep Blue Metallic with a white interior. The total cost for the MYLR is $50,490 for a 36-month lease with an annual mileage limit of 12,000. I'm considering a down payment in the range of $3,500 to $4,500, which would result in a monthly payment of $523.
However, I'm uncertain whether Tesla collects taxes and fees upfront during the lease, as this practice has varied in my previous leasing experiences. Additionally, there is conflicting information from Tesla representatives about whether I would be eligible for the $7,500 tax incentive when leasing. I briefly thought about financing, but with monthly payments potentially exceeding $700, it doesn't seem financially prudent, especially since I plan to switch to the MY Juniper redesign in the future and may consider financing then. Any advice is greatly appreciated!
My plan is to use this equity as a down payment for a Model Y Long Range in Deep Blue Metallic with a white interior. The total cost for the MYLR is $50,490 for a 36-month lease with an annual mileage limit of 12,000. I'm considering a down payment in the range of $3,500 to $4,500, which would result in a monthly payment of $523.
However, I'm uncertain whether Tesla collects taxes and fees upfront during the lease, as this practice has varied in my previous leasing experiences. Additionally, there is conflicting information from Tesla representatives about whether I would be eligible for the $7,500 tax incentive when leasing. I briefly thought about financing, but with monthly payments potentially exceeding $700, it doesn't seem financially prudent, especially since I plan to switch to the MY Juniper redesign in the future and may consider financing then. Any advice is greatly appreciated!