it’s $349 now…
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Wow it sure is $349 + $4500
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Since Tesla is nice enough to provide a slider for down payment, I used goal seek to come up with what I think are the RVs and MFs for the M3. I used the base model with no changes and pre-tax of course. I could be wrong, but what I came up with was 68% RV and 0.0007 MF (1.68% APR).
For those curious, for an MSRP $45,310 (including destination and order fee) this comes out to $477 with no down payment (DAS $1,422 including order fee, acquisition, and 1st month). I believe there is no buy option with Tesla, so the loss of upside on equity is something to consider.
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I think Tesla has solved that whole equity paradox. It’s a winner if you just want a cheap EV lease with a great charging network to tool around in.
But for those who want something with a bit more character and….adventure? An i4 35e without blessings over list price isn’t a bad way to go either.
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Ha ha, yes FSD is a joke at that price point but for some I guess it appeals in terms of price/function. It’s the same, a dollar candy stolen ‘could’ lead you to jail or severe repercussions but a business using completely wrong advertising can do so bluntly and openly without any scratches. Congressional sessions with these businesses are a joke imho. Needed daily rant to channel out of me… 
The recent lease number seems pretty Ok?
$349 + $4500 down payment.
I’d choose the lease over buying as EV iterates fast.
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Ok compared to what? For an EV? it’s not that bad.
Tesla’s are not for everyone, so you should rent one for a week and see if you like it.
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Heard this for years, yet to see the evidence that they actually do.
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Your calculator is incorrect. You are missing the destination fee and order fee. Your MFs and RVs are a bit off from my guess work above in this thread, so I am not sure where you got those but open to info if you have it.
A few questions for @LAGuy or anyone looking at leasing a Tesla.
- Do you have EV charging available at home or work?
- What is your daily commute?
- How much more would you pay in gas for an equally equipped ICE car?
As a Model Y owner… as much as I prefer EVs, I really don’t like our car. I miss the driver display and physical controls and the ride is bleh. But, I do like the convenience of an EV, zero maintenance, no gas station visits, don’t have to carry a key (or can have a key my wallet).
If you can lease a non-Tesla for $100+ less (same DAS, which to me should be $0) and your gas expense isn’t higher than that… you may consider the non-Tesla. Or another EV/PHEV that has a lower monthly (we also have Leaf which I would prefer more if it wasn’t smaller).
But by your post… it seems like you want to drive something a bit more “prestigious”. Do you prefer a sports sedan?
I can be totally wrong, what I did:
- first put 4500 as downpay and update the residual value to match the payment to $349 a month
- update the 4500 downpay to 0.
I have no idea of what MF and residual number Tesla use, but to get to the $349, they should be ‘good’ numbers.
RV does not matter as you can’t buy the car anyhow. Basically it’s a giant Rental fee with no rhyme or reason other than ‘because we can’.
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- I have EV charging at home.
- Daily commute is minimal but we drive it 10k/yr.
- I had a 2018 BMW 330xi which required premium gas and had terrible MPG (I do mostly city driving).
Last year we drove 10k in the BMW. AT MOST it got 20 MPG (more like 16 MPG according to on-dash computer). Premium gas was $6 - $7 per gallon. We filled up (10,000 mi / 20 MPG) 500 gallons x $6.50 avg/gal = $3250 in gas.
Currently the best BMW 330i deals I see are 3k DAS, $541/mo + tax in addition to $200/mo gas (at $5/gal). So with gas cost - electricity cost factored in, I would be paying $300/mo more for 330i and $350/mo more for X3 compared to Tesla 3.
I can save $200/mo by getting into a Frontier but I have no use or desire for that truck and $200 (and more) would get eaten up by gas anyway.
I have a 2020 Equinox that I got at a great price thru a broker here on LH at $217/mo with $0 DAS. We use it as a grocery trip / do anything SUV. We love it at that price but that ship has sailed and is in the middle of the Pacific somewhere.
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insurance premiums make a difference?
seems like 1 year of gas is the difference between DAS between a bmw 3 vs tesla 3.
But an x3 carries a lot more trunk space than a 3. Since u have daily all around SUV, why get another compared to a 3 sedan?
Is anyone on this forum going to take this deal?
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I ordered a silver metallic gray M3SR at $360 per mo! (plus $5554 Das)
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The problem is if you change the downpayment, your calculator no longer agrees to Tesla, so your inputs are wrong. Use this one. I used Excel goal seek and 3 test levels at 0, 4.5K, and 5K, and it came up with the following MF/RV. These are all pre-tax of course.
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BOTTOM LINE: Current M3SR lease deal = 1% BMW 330i lease deal (including all factors)
My lease for M3SR was approved just now. I did all the calculations.
Annually I drive 10k each car. Calculating the current gas price, electricity price, wall charger, installation, tax, license, registration, fees, insurance costs, etc., I would need to get a 1% BMW lease deal to equal the current M3SR lease deal.
So a $46,130 BMW 330i would have to have an AFTER-TAX monthly payment of $461.30 with 0 DAS to equal M3SR lease deal once all factors are calculated. I used $0 for oil change and maintenance for both cars as Tesla needs none while BMW covers it for the first 3 years anyway.
Assuming that you like/hate both cars equally, it only makes financial sense for me to lease a M3SR as there are no unicorn 1% BMW 330i leases to be found anywhere at this time.
i4 35e for the equivalent car would need to be a smoking deal.
- This is not an offer, numbers are for demonstrative purposes only!
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