I would warn anyone not to lease with Tesla. I have early termination built into my contract and have a 2021 Model S performance that I leased in Oct. 2020. In just December I looked into getting out of the lease early because the vehicle had a ton of problems and was always needing service from the moment I got it - I can never speak with a human being - everything is through the app - I have been stranded with the car because of battery issues including the large battery failing and needing to be replaced. So, to initiate lease return, you can only go through the app and not speak with anyone. The app gave me a quote that my 2021 S Performance was still worth over $80k in Dec. (we used far less than our lease allowed and even today the vehicle has less than 10k miles on it) so at that point, had I turned it in I would have paid just the $350 admin cost and for anything they found with wear and tear (which is next to nothing). Anyway, now, just two months later in March with still less than 10k miles on it, they are telling me the vehicle is supposedly only worth $57k!!! Thank you Elon for lowering the prices on the vehicles. Tesla wants me to make up the difference which is about $4k. When I look online to see what the car is worth, it is listed as being worth substantially more than Tesla says it is worth. There's no one to talk to about this or anyway to contest it. Tesla is hurting and they will be a lot more - I wouldn't recommend the company to anyone. I had a good experience with my first Model X car/lease but something is really screwy with this company - the lack of ability to speak with a human being one of the many issues that are dragging the company down.
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Whatever you do, do not lease with Tesla -
- Thread starter Garudaheart
- Start date
Used car prices have dropped 20% or more in the last few months. Teslas have dropped even more because the cost of a new one declined 15% in this same period with Tesla cutting prices. This is from Car and Driver on the Model 3, but the S has had similar declines. Last year my 2020 was worth almost as much as I paid for it. Not so now. Can't you buy it and sell it yourself? Tesla is obviously still in the business to maximize profits.
TESLA
Given Tesla's recent price cuts to its new cars, it's little surprise the prices of the brand's used cars are also falling. According to iSeeCars, used Model 3s seem to be taking the brunt of this hit, with their average price falling by $9914 from $51,251 to $41,337 in February 2023.
4. Tesla Model 3—19.3 Percent Decline in Price
Given Tesla's recent price cuts to its new cars, it's little surprise the prices of the brand's used cars are also falling. According to iSeeCars, used Model 3s seem to be taking the brunt of this hit, with their average price falling by $9914 from $51,251 to $41,337 in February 2023.
oneformula@gma
Member
why do you want to talk to someone? so they can tell you what the app says?
So I just went through this with my Model Y lease. You can negotiate that value with Tesla finance. Just grab a few local quotes from like Carmax, etc and submit them and they will re-evaluate the value of your car.
For me, it was just easier to transfer the lease to someone else, but they did go up a few grand
For me, it was just easier to transfer the lease to someone else, but they did go up a few grand
I am not following you. You say the difference now is 4k to dump the car? Yet it has dropped 33k since you checked in Dec and it was sort of a wash then? If the difference is only 4k, pay it and run!
FYI - good luck getting more for it. The refreshed Model S Long Range are pretty comparable (maybe a touch slower to 60 but quicker/faster in the 1/4) and have a lot more updates. Tesla hit my 2022 at mid 50's with less miles than yours, and the newest platform of the S.
URBAN LEGEND
Doing it well
In a nutshell, reading the OPs post, their issue seems to be that they are upset that their early termination quote in december has them owing less money than they owed in March of this year. Early lease termination for any brand is usually questionable as far as cost, and in almost every instance except for the peak of the used car bubble last year, would be a losing proposition.
The OP expected to be able to turn in the car in march of this year based on the same quote they got in december of last year, and since now they owe money, decided to come online and rant about it.
Thats what it looks like to me, anyway.
z0lt3c
Tesla Solar
Go try leasing an EQS and see what they are worth day 2.... You may come running back to Elon.
Main complaint here seems to be "cars depreciate." Some Tesla owners are not used to this experience.
Main complaint here seems to be "cars depreciate." Some Tesla owners are not used to this experience.
Cheburashka
Active Member
URBAN LEGEND
Doing it well
This OP hasnt even logged into TMC since posting this thread, in March, so its not likely they answer you.
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