Good point. Also, I think Tesla is going to keep the top Luxury brand of EV’s like BMW and Mercedes. The thing is I’m trying really hard to pay less month fees and also with Tesla you have to look at it like a computer or iPad on wheels. It is not a NORMAL car. But for me, I’m thinking in 3yrs… EV will take over ICE and battery ranges will continue to go higher. Especially after CyberTruck comes out next year + Mercedes EQS as well. And also Tesla is far advanced then any other car out there. Still couple years ahead of the game. Especially in Self Driving.
I’m just really stuck on what to do. Definitely not a Kia kinda guy…lol.
I agree with you on this as well and it seems to be an unpopular opinion. Obviously no one can predict the future but I imagine Model 3 values will eventually fall in line with typical depreciation curves of other modern sedans. This comes from someone who has a Model 3 on order as well. I think the quality control and customer service issues will catch up to them as more auto manufactures start pumping out EVs. This makes me second guess paying 50k for a M3LR and I have also put a Wrangler 4XE on order since they are leasing so cheap right now. We’ll see what happens in the coming years, but one thing is for sure, more competition in the EV segment is good for the consumer.
You make a great point! See that’s what I’m thinking. I can’t cash out just 50K on Model 3. The lease would be half of that. But also we have no idea what’s gonna happen in the next couple months. If the shortage will actually get better or not. I do know this, Tesla has raised the model 3 since it came out almost 15K so far and it only seems to go higher… Sighs
How much did you pay for the Model 3 if I may ask? Like how much you put down and all that. Does it match all taxes and fees I posted?
So I haven’t actually taken delivery. Currently it’s scheduled for an early March arrival. Because of this I couldn’t actually comment on the fees. Tesla is all no haggle though so what you see online is pretty much what you get. I’m probably gonna put it on hold though. The one thing that could sway me to get it is if the EV credit comes back through the Build Back Better bill. That seems pretty unlikely at this point though as the bill was shot down and is pretty much dead.
My order:
M3LR
Blue
Aero wheels
Black interior
No FSD
$53,440 w/ destination fee
Another option maybe would be a Golf R if you can find one at MSRP… may be hard though
This is why I prefaced with a disclaimer! This Kia seems to be an exception, however, not the norm.
I’m not saying there won’t be better options than Tesla. Just not seeing enough solid alternatives that tick all the boxes like the Kia might which would therefore justify leasing a Tesla over Financing a Tesla to avoid some type of possible upcoming huge depreciation hit that a purchased Tesla would or could take, as @StingerTT was suggesting.
well, there’s the kia. And the hyundai. And the genesis. Granted they’re all siblings, but there are multiple offerings now. What you’re looking at is the new norm.
The problem here is that the tesla would have to depreciate A LOT to make leasing make sense over purchasing. I don’t think it’s going to hold its value as strongly as it has with new offerings on the market, but I’m also not convinced that its going to plummet enough to justify the leasing cost. You’re paying an awful lot of money to mitigate what is still probably a very unlikely risk.
So I been looking at the Genesis and even though it’s from Hyundai it looks sick as hell! But it’s a ICE which sucks. Given the gas prices raising we have to also start to factor in the gas prices to EV.
Has anyone test drove a Genesis? What are your thoughts on that?
Also I look at it this way… I’m paying 588, that’s almost $219 more than what I was paying for my BMW 330I at $369 (Lease) VS 750 (Purchase 72/months + 2.74 APR)Wouldn’t that make a little sense? Or am I really that bad at math? LOL I guess I’d have to factor in the Down payment too? But we also have to remember raising interest rates are going up in March…so things are about to get even more expensive to purchase…
I leased a Model Y because there were no more Fed credits and I know I’m not keeping it.
In hindsight I should have financed due to the crazy equity now but cash flow wise, still cheaper than a purchase.
Comparing Tesla vs other cars there is a real argument for “other” even though I highly recommend the Tesla ecosystem. Since we own another EV (that one we financed because of the $7500 credit) and I’ve owned a PHEV, if you are used to driving ICE, a Tesla is going to take some getting to used to. Even in the lowest regen braking mode (Creep), it’s not the same as coasting in an ICE. Additionally, while the minimalist iPad interface of the 3/Y is good, you do miss the driver information cluster and the physical controls… especially when Tesla rolls out an update (v11) that removes the easily accessible shortcut buttons and status icons.
I actually leased an ICE full size truck recently and it drives way differently than the MY but I like the interior space and driver controls… so while the Lightning or Silverado EV would be the best of both worlds, I’m really holding out for the CT (which I doubt will be out in volume next year). The one plus for Tesla is the supercharging network but if your daily commute is reasonable, range isn’t a big deal. I rarely use more than 50-100 milies of juice per day and I don’t even have L2 charging at home so 120v overnight charging has been sufficient (I’ve had the MY for about a year now).
That being said, I’ve sat and test drove multiple “other” EVs and I don’t think you can go wrong with any. Just as long as the size, features and cost are in line with what you want… then get it. And the bonus for most of the other EVs is that $7500 credit.
The 65 month rates, as mentioned, is with DCU and would reflect the EV discount and direct deposit discount.
The 84mo rate is available at CarolinaCoOp CU. Similar rate can be found at a number of regional CUs (eg Riegel in NJ).
Another good option is CapEd CU who has a 96mo rate at 2.19%. CapEd also has balloon loans, so they are a good utility option for either type of financing.
My point would of been to not go with a Tesla in the first place.
There are already cars out there that are better at luxury than Tesla. They may fall short of the EPA stated ranges of Tesla, but then again Tesla falls short of its own ranges in the real world.
As for cars that compete better… Lucid, Mercedes (EQE), Cadillac, Audi, and even Ford are all introducing cars with similar or more range and performance as Teslas with more modular battery technologies, better interiors, and overall quality.
Tesla remained king up until this year in my opinion. 2022/2023 we are seeing actual competition. Just a shame it took this long.
The tacan/Etron GT siblings are a notable mention, but their range is notably lower than anything Tesla puts out. Taycan is great, but I’m just hoping the next generation will fix the range issue.
