The residual on a MY lease 36/15k is $ 27,364.00
With a Car price of $ 44,990.00 without fees/taxes
That means $ 17,626.00 in depreciation
BUT, the montly payment is $601 or $ 21,636.00.. so far so good, since that includes taxes fees and APR
The real kicker is that it should include a $7,500.00 incentive but I can’t see it in the numbers.
Does that mean that without the incentive the depreciation would be $17,626+$7,500??
I’m new to leases be gentle
Doesn’t it say under additional credits: $7,500 leasing incentive?
It’s there; it’s applied on your behalf as a downpayment aka Cap Cost Reduction. And it looks like you’re paying 10.25% tax on it as it’s a taxable incentive/rebate.
yeah I see that but when I do the math without the incentive the lease would be $840/mo which is insane for a 45k car, they are pumping up the numbers on the lease because of incentives right?
well actually I stand corrected…a toyota without incentive with a net cap cost of 45k is 840/mo… holy moly
If it indeed costs 31k to lease the car for 3 years, might as well buy it used and take advantage of both the $4k used EV tax credit and the additional $4k from CA utilities. Although many would not qualify due to income exceeding the thresholds.
Not sure what you hope to accomplish here.
You’ve applied the referral code. Absent any other codes this is your cost, period
It is what it is. No one at Tesla is changing your payment and DAS for you regardless of whether you believe the math works or not.
Your actual question should be whether it’s a good deal and it’s not. Much better deals available from other brands if you know what you’re doing.
Oh I’m just trying to see if it’s a good deal for a model Y, I’m not really cross shopping but I could wait to buy in a few months except the incentive will be gone and there’s no guarantees that the finance option will be improved when the incentive is gone.
You’re not stacking more than one discount, so it’s a pretty average deal.
how can I get more discounts? I’ve got student and gov incentive on
There doesn’t seem to be many more out there.
American heroes and/or lyft discounts, it’s not hard to qualify for heros. $1000
If you are a first-time tesla owner, you will want to use a referral code. 3mo free FSD
If you have owned Tesla’s before, you should be using your loyalty code. $500 + FSD xfer
Inventory discounts. Most are demos (up to $1200), some maybe repaired (up to $4000).
You can acquire an account preloaded with referral credits, getting harder these days. (up to $5000)
Check for discounts with your local utility. (varies)
Tesla’s don’t lease well. End of story.
thanks!
will take a look
Even though it’s basically double what most competing products cost?
Is it 2x as good?
What competing products are we talking about here? Never heard of an EV that is half the price of a tesla
That’s because you’re looking at msrp and not actual lease cost.
I’d be interested to look at those if you can point me to one!
As everyone else has mentioned, there’s two problems: 1) Tesla’s don’t lease well, and 2) you can’t negotiate any aspect of the deal. So if you want a Tesla “the price is the price”.
But if you are open to other EVs, you can generally get lease a car of the equivalent MSRP for about 2/3 the cost of a Tesla. At the high end Tesla leases are 2x the cost: compare a $100K Model S/X to any BMW or Mercedes EV and you’ll be shocked that the Tesla lease is almost double the price!
The only “hack” I can think of for Tesla is to buy a used model from a 3rd party (not Tesla) to avoid the depreciation. If you do that math you’ll find that this works out better for you than any lease. This is what I did and got a 2023 Model S for $60K, which is virtually identically to the 2026 Model S, and a much, much better car than a Model 3. If I need to sell in 1-2 years, there will be relatively minimal depreciation since this car originally had an MSRP of $95K.
A 0down 36/15k ioniq5 is 430/m without taxes and fees, probably close to 500/m with them so about 100/m cheaper. Is this what you were referring to?
@darylp310 unfortunately used model y are very expensive. The 2020-2021 are plagued with production issues or high mileage. 2022-2024 are better deals but they still have terrible nvh compared to the refresh and hw3 so it’s not gonna age well for ADAS tech (no ota can make it better) 2024+ are 540/m so it’s not much different than a lease but you get better nvh and hw4.
Just get one of the pre negotiated deals - there are many cars that lease much much better than Teslas - https://leasehackr.com
If you really want a Tesla I’d suggest buying it.
