Looking at purchasing or leasing a Tesla Y RWD in TX.
We are afraid to buy because of the unpredictable value/pricing in the future and I know there is a new model coming. With the latest leasing offer and new end of lease purchase option, I’m wondering if it’s a smart move to lease vs buy. The 0% financing is enticing but again I’m afraid to purchase.
Can anyone please put me out of my misery and advise me?
Don’t buy lease
if you buy its 0% interest right now, If you lease you can now buy them out at the end,
The volatility of new Tesla model Y pricing is mostly over. How much more can Y sticker prices come down?
And new models don’t affect used cars when you’re in used car price territory (sub $30k)—none of those people are shopping new model Y’s.
So the lease being terrible and finance APR being so low and the 4yr resale value being quite predictable makes this an obvious buy/finance.
But why a model Y? IDK if you’re aware of just how good leases are on many EVs right now. Click Marketplace & Signed Deals & Tips and see for yourself
Thank you for your thoughts. I think it’s clear from your note that the Tesla lease is not very good. I know we can’t calculate that easily without the residual. Frankly, I’m exhausted by the research and the thought of negotiating at this point. Tesla is straightforward.
The Ev lease deals I see in the forum are primarily 24mos and that’s too short. I don’t want to be m the market again in less than 24 mos. And many are for low mileage. Not seeing that many in TX either.
It sound like my best bet is to own the Tesla rather than lease it.
There are plenty of brokers that work in Texas, with several EV options that will be less than the Tesla. I understand the exhaustion, and they can help alleviate some of that. But, as always, spend your money how you want to
Most of the BMW and MB deals are 36m and any lease can be structured as 10k, 12k or 15k per year. Each increase of mileage from 7,500 to 10k to 12k is only a deduction of 1% of MSRP from the RV.
Something like an BMW EV loaner is probably not going to be far above a Model Y after including all taxes and such on the Tesla.
For example
The current model Y lease program is not as bad as others make it sound. It has a 57% RV and a 5.42% MF. Payment on a MYRWD should be around $370/mo with taxes and fees upfront
The real question is if you qualify for the federal incentive when purchasing. If you are under the income limits, and can access the rebate at POS, financing using one of the Tesla special programs is the way to go (0.99% for 72mo). If you do not qualify for the federal incentive, for example you’re over the income limits, then I would lease, and consider a buyout, if you find the equity position to be favorable.
Which is a lot in Texas. Important to consider the effective payment rather than pre-tax.
Purchasing and leasing a Tesla are subject to the same effective taxes in TX. I’m trying to answer the question which has been asked. What question are you answering?
Thank you. How would I find a broker? Not familiar with this.
On another note, I’m blown away by the insurance on these vehicles which is higher for us because we have our young adult children on our insurance.
I failed to mention that detail. I do NOT qualify for the $7500 tax credit. So, not as good of a deal to purchase.
Check out the marketplace and click on your region. If you send a couple messages to see who can help you, I think you’ll be surprised at how relatively painless it can be to save thousands on great cars.
Edit: @IAC, @IAC_Scott I believe you support TX? Any recommendations for a comparable or better Model Y competitor?
age does not seem to matter, I was quoted from USAA 333 a month on a 3 year old base S,
There isn’t much reason to debate then, if you want a Model Y, leasing is the way to go.
If you are shopping EV insurance for the first time, note that you can find a big variation between providers. Make sure you are getting as many quotes as possible. This can vary, from state to state, but generally avoid Allstate, where-as State Farm tends to be more EV friendly. In Texas, you can get Tesla insurance, which most likely will be the cheapest option.
I tired progressive, my current carrier, and it’s high…$270/mo
Tesla insurance isn’t ideal because we’re not fans of the monitoring part.
I’ll try some others. Thank you!!
No one can help you if you can’t help yourself
My prior reply to you asked you to click Marketplace
With just one more click to select your state, you can see a list of turnkey deals that have been already negotiated and are ready to go for the new owner/lessee.
As mentioned and linked above, there is a marketplace on this site where brokers list offers on many makes and models. Several non-Tesla EVs are leasing well right now
Yep. I understand. Just very few for Texas. Thank you for the advice.