With lease prices so crazy now I’m wondering about taking a Tesla Model Y on finance. On 72 months that looks like $700 a month with $4.5k down.
If theoretically I sell it on in 2 years I will still owe $31600 and I will have paid $17200 worth of payments plus I will have put $4500 down at the beginning. So effectively I will be down $53,300 minus the $3500 CVRP grant, $1k from socal edison grant and $1500 California clean fuel. That leaves $47300 in the red.
However given Tesla’s insane real world residual values I’m wondering what it’s still likely to be worth then. Current used Model Ys are going for pretty much new prices a year on. Even if I could sell the car for $40k in 2 years that’s quite a cheap car. What do you think?
All depends if the resale value in 2-3 years is as good as a 2-3yo Tesla today. Both the used car market and Tesla’s production rate is going to affect this. The thing that would worry me is Teslas had good resale value while they were quickly ramping and there weren’t many used Teslas on the market. When you sell there will be many years of 500k-1M/yr production so they won’t be nearly as rare on the used market.
I pretty much did the same calculations as well and ordered one last week. I am not sure about the $3500 grant though. Wait time is ridiculous though. It’s about 10 weeks now.
Yeah right (!). That is not going to happen anytime soon, especially not before the first batch of Tesla leases come due. I would not be surprised lessees are offered buyout.
Since they aren’t close to fully autonomous, they could offer buyouts but why would they in this used car market. Lucky on their part since they probably are going to make a decent profit selling used Teslas for a while.
Take into account that CVAP has a clause that you need to keep the car for 30 months or prorated if sold before the 30th month, also $1K Edison is no longer available since January 2021 because of the new $1500 CCFR
***You are also NOT including your sales Tax rate into the whole calculation… you’d probably be about $4,000 deep in sales tax
Your new model Y will come without radar and without lumbar on the passenger side.
Essentially will be a beta tester for ‘Tesla Vision’ (Autopilot with a side of chip-shortage)
If they had any faith in this, they would be adding it to S and model X, but the lower models have to beta test the camera-only auto-pilot.
Reports on Reddit that a new MY owner had issues in Princeton over MDW with a radar-less MY not engaging AutoPilot.
Girlfriend’s nissan leaf did just fine. I personally cancelled my MY and got a Ford Mach-E. It was 2 months and I wasn’t happy with Elon removing features as the days passed.
