I’m back yet again! I had my amazing BMW 330i but sadly I got into a car accident 2 weeks ago and it is now totaled. It is the WORSE time for this to happen to me and my lease was going to end in June!
The other party’s Insurance is going to pay off my car/lease. But sadly that leaves me with no car. I been dying to get a Tesla Model 3 for a long time. But the price for the lease is extremely high and to buy it is also really high. I’m stuck on what to do. I need some guidance. I heard things should be going back to normal by July/Sept but I can’t wait that long. I also don’t want to get screwed over.
Besides a Tesla Model 3 what other cars can I get possibly? I’m open to ideas.
The crazy part is I was paying $369 for my BMW and now that is even doubled at almost $600! I’m so stressed out.
Tesla Model 3 Break Down:
LEASE:
*With a down payment of $4500 your are looking at $5,927 due at signing and a payment of $588 for 10K/36 months.
Cash Down Payment $4,500
First Month’s Lease Payment $588
Acquisition Fee $695
Upfront Sales Tax info $494
Total Fees $651
Non-Cash Credits -$750
Order Payment -$250
PURCHASE
*$9,133 due at signing $724/mo - MSRP: $$50,090 (72 months)
@z0lt3c, the thing is I’m trying to keep the monthly payment low. I know at the moment the Tesla Model 3 has a huge positive equity. But how long would that last? The more people buy the less it’ll get right? and I’m definitely not a Prius person… like…ever…ever. LOL.
@drdvrgs - umm…I don’t quality for 'Low income" lol and the range I heard it’s sorta of close no?
Base Model 3 in white or gray is $44,990 MSRP plus $1,200 destination and $250 order fee. What configuration are you choosing that makes it $50,090 MSRP?
Bear in mind optional paint and wheels don’t add much to the resale value of the vehicle, so save a few grand and go with white or gray and the 18s.
Agreed on the others that it’s better to finance than lease a Model 3. Ford offers a Ford Options plan on Mustang Mach-E, which offers lease-like payments; you can order one at MSRP and get one in four months. Might also want to consider a Pre-Configured Polestar 2, if you need a car sooner. The lease is better than the Model 3’s, but still not great.
Unless the Model 3 is built with a time machine, it’s only been around for 3 to 4.
If you’re referring to the Model S, the older models are starting to see greater depreciation curves.
There are many factors to this, but I think in the next 5 to 10 years we’ll see great depreciation on Teslas. I think we are still in the “honey moon” phase of Tesla as we are in a transitionary period that arguably, lasts a long time, but Tesla quality and customer service is absolute trash and I think the buying public is starting to realize that.
The Kia EV6 looks pretty sharp and it is eligible for the $7,500 tax credit (the old one), which Teslas aren’t. But I have no idea how it would lease (except it’ll be cheaper than a Model 3).
Honestly, in this environment, I’d rather finance (especially an EV). Leasing right now is just plain not good for pretty much any vehicle (well, except the Mirai maybe. LOL)
Look at Balloon financing options for the Tesla. It’s similar to a lease but you can actually flip/ buy it out at the end. You would also qualify for any local incentives.
I don’t see a great deprecation happening unless there’s a revolutionary advancement in the EV battery significantly improving range and charge times.
I do agree the quality is trash, but thats a wash when you consider there’s so much less expense on maintenance and repairs for parts under the hood compared to ICE vehicles.
