I'm also very curious about this process. I'm just over a year until lease end as well but my lease is through Tesla and not US Bank. I'm going to come in well under my 15k per year mileage, AND I've also added Autopilot after the fact. Really hoping that they'll offer me some kind of incentive for moving into a new X or S at the end of lease.
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US Bank end of Lease
- Thread starter smilepak
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- lease lease loan Model S trade-in
I'm one more who's interested in this. I have 11 months until end of a 2yr lease on a S60 (15k mi/yr, AP1, Pano roof, smart suspension, red paint) with US Bank, with a residual of $56K. Right now, KBB lists a fair purchase price of $73k. Wife really wants to keep this car, and that's where I'm leaning. Her concern now is, will purchasing the 60-75 battery upgrade have any effect on the lease, given this line in the lease agreement: (You will) not change or modify the Vehicle in any way without our prior written approval, except for normal maintenance;
I suspect not, but does anyone know for sure? KBB price for a 2016 S75 is $81k.
I suspect not, but does anyone know for sure? KBB price for a 2016 S75 is $81k.
n2mb_racing
Active Member
Interesting. My P90D residual is $94k, which seems way too high. I don't think it is even worth that much right now.
wamochi
Member
n2mb_racing
Active Member
Speaking of which.... This car has one more option than mine (rear facing seats) and is $4k less than my residual, for a lease ending in another year. I'd likely rather trade in my car, then buy one of these CPOs. I'd get a longer warranty in the process!
Model S P90D 5YJSA1E49GF121984 | Tesla
I think the residual on my lease would have to come way down for me to consider buying it, otherwise it'll be returned and resold for way less.
Model S P90D 5YJSA1E49GF121984 | Tesla
I think the residual on my lease would have to come way down for me to consider buying it, otherwise it'll be returned and resold for way less.
Am I reading this correctly? You can trade in the car at any time and not pay any overage for mileage? What are the chances tesla gives you want is owed on the car as a trade in?
I thought at first this meant to say that you can hand in the car at the end of the lease and not be charged for extra mileage as long as you leased a new tesla but I guess that’s not correct? Anyone know how tesla handles extra miles if you buy/lease a new one?
Not sure about tesla, but with my previous BMW I had to repair the wheels. This came up during the vehicle inspection (which you have to do ahead of turning the car back in), so you have enough time to fix it. The wheels looked perfect after repair, no problems.Question for anyone that has finished their lease: Do they charge for curb rash on the wheels or does that count as normal wear and tear? My wife has curbed the 21s several times already....
n2mb_racing
Active Member
Anyone have any success negotiating a lower buyout price with US bank? Mine is $94k. I've already seen an identical P90D for sale CPO from Tesla for $84k. I think that would be better, since it should come with a longer warranty, than my 2 yr old car, right?
donguanella
Member
I’ve done this on a Chevy Volt lease with US Bank - they cut about 5K off of the buyout amount. With the demand and used market value of the Telsa so much stronger - curious to see if they do the same.
I recall from other threads that the 90 Batteries had a bad reputation for capacity and deterioration. i.e. the 85s were almost a better deal. Not sure if it applies to P90's.
As others have mentioned, in terms of end of lease options, you need to decide if you like the car enough to keep it even if they offer a discount for buy-out. I recall some Nissan Leaf folks were getting crazy deals recently at end of lease.
As others have mentioned, in terms of end of lease options, you need to decide if you like the car enough to keep it even if they offer a discount for buy-out. I recall some Nissan Leaf folks were getting crazy deals recently at end of lease.
I am getting closer and closer to the end of my lease. As I do my anxiety level raises. I do not like what I have heard regarding people dealing with US Bank on lease returns (non-Teslas). And considering how much upside down my lease is I expect it to be brutal. I am not a fan of the lease contract (I misunderstood the termination part when I signed it). There are 3 door dings on 1 door (don't know how they all hit that door), a rock chip on the hood, and a scratch on one of the side mirrors. Also the black piece under the front bumper met a concrete stopper once (though to be honest I think the car lowered onto it). I hope they do not try to charge me more than $5k for Wear and Tear, but I really have nothing to base it off of.
whitex
Well-Known Member
You can get a 2015 Nissan Leaf from a dealer for $15K, 2011 for under $6K. Given current CPO prices for Tesla's I wouldn't count on crazy deals. If you do get one, update us on this thread, as so far everyone I've read reported a hard "return the car or pay the residual" line.
n2mb_racing
Active Member
Is there anything in the lease about which tires must be on the car when you return it?
My needs new tires and lease is up in a few months. What if I return it with the Falkens instead of the Pirelli Super Sports? Sizes and speed ratings would all be correct.
My needs new tires and lease is up in a few months. What if I return it with the Falkens instead of the Pirelli Super Sports? Sizes and speed ratings would all be correct.
Tread depth is the main thing they check. The return procedures will usually state the exact requirement.
Off brands or somebody else's worn but still sufficient tires should be fine
Off brands or somebody else's worn but still sufficient tires should be fine
n2mb_racing
Active Member
Anyone had any luck negotiating down their residual? I'm thinking I'll put good tires on it, if there's a chance I'll buy it. But, not without negotiating down a lot.
I've heard of recent horror stories regarding US Bank lease turn-ins. Basically, they will nickel and dime you to death, there's nothing you can really do about it as they'll dismiss any contest letter to the charges, and they'll send your account to collections if you don't pay their trumped up end of lease fees.
At least get a pre-inspection done so you can get the lube ready before they violate you.
At least get a pre-inspection done so you can get the lube ready before they violate you.
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