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US Bank end of Lease

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The inspection went well actually. It came out clean and didn't charge on wear and tear. They noticed small chip due to road rocks, small enough they noted it but didn't ding it. The guy came out, took a bunch of picture, wrote up a report, sent it to the bank and i got a copy of it. All done in 30 minutes.

How long before the end of lease do they send someone out to inspect the vehicle?

I was wondering how this works because the end-of-lease pages on Tesla's own site (Excess Wear and Use Guide) say it is a "self inspection" but maybe that is for leases by Tesla itself and not US Bank (until this thread I didn't know Tesla did some leases without a bank).

I assume if you ask to extend 3 or 6 months then they won't send anyone to inspect until you actually are ready to turn it in. But how long before?
 
I went through a US Bank lease return earlier this year. Feedback from my experience:

You need to request the pre-return inspection yourself (no one will call you to schedule it). US Bank contracted out this work out to AutoVIN.

When I requested my inspection, the first available inspection was about 2 weeks out. Plan ahead!

On my lease return, AutoVIN estimated $125 and $145 worth of damage on two wheels. Curb rash on one and mild damage from storage on the other. I felt these charges were reasonable. I elected to return the car without fixing the damage.

The turnaround time on the inspection report was pretty fast - about 24 hours.

AutoVIN came to my workplace to perform the inspection. I forgot to bring the 2nd key with me, so they included a missing key in the condition report. They assessed a $375 charge for the missing key. I brought the 2nd key with me to lease return (at a Tesla service center), but forgot to ask for a note saying they received both keys. Should be OK?

I had my lease payments on autopay. US Bank does not automatically stop autopay at lease end. This limitation was probably communicated to me when I signed up for autopay 3 years ago, but I honestly can't remember. Not having autopay automatically stop is helpful if you're extending your lease. Not so helpful otherwise. When I noticed the extra payment, I called in to have them apply a refund - US Bank refused, instead saying they would apply the extra payment to the final statement that was forthcoming. Not super friendly, but not a big deal. They did successfully cancel autopay over the phone.

I returned the car 6 weeks ago. Still waiting on the final statement (with credit on the extra payment). The car has since been listed as a used car on Tesla's website - and delisted, presumably already sold to its next owner.

I was a little surprised that a US Bank lease return was sold by Tesla, since US Bank is the legal owner of the vehicle. I assumed US Bank would simply auction the car off. I wonder if US Bank pays Tesla to sell the vehicle on their behalf? Or if Tesla offered to buy the car from US Bank after I returned it to their service center? Or if, as part of the leasing partnership, Tesla had always retained an option to buy back the vehicle from US Bank after lease return?

FWIW, AutoVIN told me that there would not be another inspection after the pre-return inspection, unless the condition of the car deviated "significantly" from the pre-return inspection report. So it seems in most cases, the pre-return inspection is the only "careful" inspection of the car.
 
How long before the end of lease do they send someone out to inspect the vehicle?

I was wondering how this works because the end-of-lease pages on Tesla's own site (Excess Wear and Use Guide) say it is a "self inspection" but maybe that is for leases by Tesla itself and not US Bank (until this thread I didn't know Tesla did some leases without a bank).

I assume if you ask to extend 3 or 6 months then they won't send anyone to inspect until you actually are ready to turn it in. But how long before?
Hi

I didn’t get an extension. They called me about one month prior to last day of the lease. It was done through a vendor company they deal with.

What’s odd about the end of lease buyout is they only accept cashier check and you can not bring it to a local US Bank branch. It must be mailed and no wire transfer. Which to me is a bit risky to mail such a large cashier check. I would prefer wire transfer.
 
Don't know if anyone else has mentioned this, but Tesla called me this week and reminded me my lease was expiring in September and wondering if I was interested in a new car. Told him only if it's a SR model 3 and that I was planning on buying the S. He said 'great, I'll send you all the information for the buyout'. Got the info on the residual and find that US Bank will give you a $7500 incentive if you finance it through them. Called them and that is indeed the deal. I have a '16 S60 that I upgraded to a 75. Before incentive the residual was $56k. From what I've seen it sounds like a good deal to me.
 
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Don't know if anyone else has mentioned this, but Tesla called me this week and reminded me my lease was expiring in September and wondering if I was interested in a new car. Told him only if it's a SR model 3 and that I was planning on buying the S. He said 'great, I'll send you all the information for the buyout'. Got the info on the residual and find that US Bank will give you a $7500 incentive if you finance it through them. Called them and that is indeed the deal. I have a '16 S60 that I upgraded to a 75. Before incentive the residual was $56k. From what I've seen it sounds like a good deal to me.
Careful on the financing. I asked about early payoff if you finance with them, there is a penalty on it. You have to basically keep the whole financing term
 
My lease is due to end soon as well. I leased primarily because Tesla changes their cars so often and figured it was a good way to protect against declining values. About a year into the lease, Tesla called trying to get me to upgrade to a P100D. They sent me a trade-in offer for my car at $79,000 (Payoff was over $100K), so I said no thanks. 3 weeks later, Tesla called again. This was just after the front end refresh and AP2 hardware. I told them, if they can do better on the trade, I'd consider it. They sent me a new trade in offer (3 WEEKS AFTER THE LAST ONE) for $63,000. Payoff was still over $100K. $16,000 decline in value in 3 weeks.

My concern now is that I think it's a bad time to get into a new Model S. With the Model 3 having more advanced technology, sales slowing on the S & X as its now starting to feel dated (no major design changes since 2012) that a major update has to be coming very soon. I would really be ticked off to fork out $130K+ on a new car only to have it be outdated a couple of months later. Unfortunately, Tesla will never tell us when the updates are coming. With no notable updates to the car since AP2 was released, today's cars are pretty much the same, so common sense says they have to be working on something new, right? Updates to the old cars tend to slow down before the release of a major update. Other than new restrictions to Auto Pilot, I can't think of the last meaningful over-the-air update the car has had. My guess is that the update will include an all new interior, some exterior updates, bigger battery (more range) to better differentiate it from the Model 3 and certainly faster screen interface.

Thinking the better option is to extend the lease and see what happens after 6 months? The only downside is paying the same payment amount for a now three year old car for another 6 months (not cheap). Probably could finance a 3 year old car for half that payment amount.
 
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Chad, when you saw your car online for sale as a CPO, did they list it at your residual value or lower? What was the spread? Thanks for all the info!

Contracted residual was $56.5k. Car was listed for around $62k and made it down to around $52k before being delisted.

So after accounting for the $7500 tax credit, there was a few thousand dollars in margin - but Tesla also had to extend the warranty coverage and market the car.
 
motherf***er. Someone busted out my side window tonight at dinner, just to rifle through my MS. They didn't even steal anything. That's the second time someone broke that same window in less than four months (one in San Francisco and this time in San Jose). And I just scheduled this lease return for inspection because I need to turn it in by August 1. My new MS is already available for pick up, which means I'll be paying two leases until I can fix the old one and return it. Really not happy right now.
 
I just got what seems like a spam phone call from "autovin" from 317-721-9973 claiming to represent US Bank to schedule my end of lease inspection.

Is this actually who does the end of lease inspection? Not Tesla? Looking up Autovin only brings up bad reviews....