First post on the forum so please go easy on me! So i currently have a 2016 Model S 90D which has been great and I was planning on getting into something new next month (2019 I8 roadster for 3800 Down and 10K miles/yr around 1300/month payments). Everything was going great until I messaged the lease return team at Tesla last week to try and schedule a return date.
The guy who replied didn’t answer any of my questions. Instead he tried to tempt me into getting into one of a few remaining 2018 P100DLs that they had in stock and he said the deals are “CRAZY”. I was skeptical but when he go back to me with the numbers I realized he wasn’t kidding. Basically he told me things had changed and there were new incentives on EXISTING inventory including 20K discount for the ludicrous package (which wasn’t being offered before to existing inventory) as well as free supercharging for existing Tesla owners. And apparently there was a huge discount being applied onto the vehicle onto of this.
Obviously I felt very good about these numbers compared to what I pay now for my 90D so I pulled the trigger same morning and received credit approval a few hours later. I also pulled the trigger SO fast that I didn’t realize that this model came with the Rear facing seats which is perfect for my 3 and 5 year old!
I’ve attached the numbers that they sent me and also the options on the car. FSD package was initially not on the vehicle but it had the hardware capability so with an additional 5K it was added on (this is not shown on the option list since it was added on afterwards but the numbers reflect the added option).
When I build the exact same car with same features online, apart from the fact that mine is a 2018, my lease payments are coming out to roughly $1800/mon with 7500 down. With the FSD added onto the car, MY payments came to $850/mon with roughly 7300 down. (The numbers I’m attaching below reflect $5000 DAS numbers just FYI)
Would love some input on this from the LH community! (P.S. I’m not sure if I’m calculating the LH score correctly, can anyone help?)
2018 Tesla Model S P100D Ludicrous: Lease Hacker Score around 14-15
**MSRP: $*138,200
**Selling Price: $98,200
**Monthly Payment: $920
**Cash Due at Signing: $5000
**MSD:None
**Incentives: 20K ludicrous incentive discount, additional 20K off for loyalty pricing on 2018
Seems strong to me. Note that this Model S is pre-refresh. Refresh improved efficiency (thus adding range and effective charging speed) and adaptive suspension, among other things
I think they just told him/her because they were an existing customer but I think anyone can potentially get the same discount but others can correct me if I’m wrong.
News today is a desperately needed interior refresh is imminent. I sat in the Alpha Build Model S when the DC Tesla store opened in Feb 2011 - the car is 97% unchanged (nose job for 2016.5, one leather upgrade a few years ago to move from extra cheap leather to what does in Toyotas), incremental changes to drive system and tons of software updates.
The pricing on FSD has changed 6 times just since the Federal Tax Credit adjusted last quarter - it may not have DOT approval before that lease is up. You do you, I definitely would have waited and rolled the dice on that.
A good friend was in Tesla store over weekend and got same offer: $20k incentive to lease P100D (new leftover). As others have said there are deals on inventory units (they also seem to be swimming in unsellable units).
Glad to hear your leasing experience was so smooth. I’ve head a number of accounts about problems with payoffs and closeouts and second originations. Seems like those are sorted out.
When I got my 2016 90D I was definitely more budget conscious and I was very skeptical about the fully autonomous stuff rolling out during my lease period. I’m SLIGHTLY less skeptical this time around but tbh my budget is definitely not as limited so I felt ok rolling the dice on it this time. Its so hard to keep track of whats going on at Tesla these past few months
Besides following Tesla closely since 2008, having a close friend and cousin who are bipolar was the best training I had to follow recent Tesla events. If you follow Tesla’s twitter account: there are people who bought P100D Model S/Xs and LOVE Elon/Telsa/the vehicle, BUT got caught in the rebranding of AP/EAP/FAD (paid for what they thought was one thing and got another), or they had just bought at the higher price when the prices were lowered. They got beat out of thousands in direct products and tens-of-thousands on their residual: https://electrek.co/2019/03/04/tesla-owners-protest-price-cuts/
While Tesla’s don’t lease especially well, you got a great one for a pretty good price and you’re happy. Given how erratic they have been and the uncertainty of what lies beyond their exhaustion of Federal Tax Credit, you were smart not to buy it. But keep this reply: I’ll bet you a beverage of your choice if when you ground this lease, you do so at a Tesla store as we know it, under the current ownership. I don’t see the vehicles or tech disappearing, but odds of this entity surviving Labor Day 2019 aren’t good given their sales and burn rate.
Thanks for all the info man! So my lease expires early July and I was having to take delivery by Early June or else I would have to give up the car. Thankfully my delivery specialist was able to stretch out the delivery till end of the month so I don’t have to feel bad about making a payment for a lease vehicle that I won’t even be able to drive (they weren’t able to do the early lease release and cover my last payment).
You might also want to decrease the annual miles. The 25c overage is relatively low and when calculated vs your monthly savings only nets you about $118 difference over the life of the lease. This is if you do end up really using 12K miles. If you don’t…money saved.
