2022 Tesla Model Y, Lease vs Buy, No buyback option

Hello folks, complete newbie here. I have two options to choose from.

  1. Lease or 2. Buy. (Also deciding to push delivery off to 2022 for possible tax credit).

This is for business use so perhaps that may factor in.

The model Y has no buyout options, so the car HAS to be returned at the end of the lease.

If I were to buy, I’ll be getting 2.49% through Tesla partners, but I can manage a much lower rate through other avenues.

Once again, appreciate any help, and apologies for breaking the rules, there are far too many, I tried!

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buy it in 2022

That’s what I’m leaning towards. With that in mind, is the lease breakdown above considered decent? Or am I getting fleeced?

No tax credit if you lease.


There is no choice to be had here. Leasing leaves you with no good way out and will cost you thousands of dollars more than purchasing.


So the total lease cost is about $30k, that is unlikely as depreciation on the Model Y in the next 3 years, so I guess you’re right.

Yes, taking that into account. Also, not even sure if there is going to be any credit at all.

You’re rolling the dice until BBB passes or dies in the Senate. Most likely we’ll know in the next 3 weeks (they have to also deal with the debt ceiling), but nobody knows what (if anything) will pass in its current form.

Unless your CPA tells you that your business can only write off a lease and not a purchase, leasing a Tesla is never the correct option. And even then, keep in mind what you’re giving up by leasing it.

Thanks, yes, I am trying to consider all implications.

But could you elaborate a bit on ‘why leasing a tesla is never the correct option’?

Thank you.

Can’t sell it to a 3rd party to capture any equity. Can’t buy the lease out yourself to capture any equity. Rent charge is atrocious and makes it significantly more expensive to lease than to finance.

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But other Teslas do have the option to buyout. (S & X IIRC)

Is there something about Teslas inherently? Their money factor?

Yes, S and X let you buy it, so at least there’s an out.

MFs vary with brands. Tesla charges very high ones. Remove all the benefits of leasing and there’s no good reason to even consider paying the higher interest amount.

But I’ve heard it said before that Tesla’s don’t lease very well. Do they just charge a lot in the rental fees compared to other brands?

Buy. Always buy a Tesla.

Even if you didn’t want the car post-lease you will go through US Bank nickel and dime hell when you return it.


What does the phrase “US Bank Nickel and Dime” mean? (I think I get the idea, but what’s with the US bank part?)

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That’s where USB spins a wheel upon return of the car and sends you a bill for whatever they think they can get away with.

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Yes, high mfs coupled with no way to buy out the lease means it just doesn’t make sense.

About a month ago, I was looking at picking up a model 3. When I ran the numbers between leasing vs buying, if I held the car for 3 years and sold it for the lease rv at the end, the lease would cost me about $3000 more than buying it. Used tesla prices have always been high, suggesting that selling it at the rv would be a very low number. More likely to sell for quite a bit higher, making that $3000 gap probably thousands low.

The y is cheap enough to buy. If it was an X or S I’d say you’re doing the right thing leasing as those depreciate like a Mercedes’ S class

no they don’t.

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You can look into a balloon loan option as well, it has the payment similar to a lease but the buyout options similar to a loan.