# Help me make these Tesla Model 3 lease numbers make sense **URL:** \ **Category:** Ask the Hackrs\ **Tags:** ca-socal, ca, tesla\ **Created:** [January 14, 2020, 7:52pm UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373 "2020-01-14T19:52:07Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![faroutspacenut](https://leasehackr.b-cdn.net/letter_avatar/faroutspacenut/32/5_5575768a8748004e209b776fc1b2916d.png) [@faroutspacenut](https://forum.leasehackr.com/u/faroutspacenut)\ **Post date:** [January 14, 2020, 7:52pm UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/1 "2020-01-14T19:52:07Z")
I wanted to try and do an apples to apples comparison between a few different leasing scenarios on a Tesla Model 3 lease and the cost of financing. To do this, I’ve created a Google Sheet (link below) as well as used the Tesla website’s lease calculator and the Leasehakr calculator. I understand the depreciation on a 36/10k lease to be 58%, but had to reverse-engineer the money factor so the numbers would match. Based on the numbers I’m getting on the Tesla Website for a “zero down” lease, that comes to 0.001083333333 or 2.6%APR. Using this, I was able to get my numbers to line up on my own calculator, the Leasehacker Calculator and the Telsa Calculator. Here’s the problem. When I start adding down payments, the monthly payment starts to drift from what Tesla calculates. It’s only a few dollars, but I’d really like to get this consistent. For the sake of my comparisons, I’ve had to nudge the money factor on my Google Sheet for each different scenario so the final monthly payment matches what Tesla is telling me. Am I missing something that is throwing these payments off? \*\*\*Please note that I’m not inviting a discussion on if this is a good deal or not. I know it’s an expensive lease, but it’s the car I want. \*\*\* . Based on my comparisons, I’m having a hard time justifying the cost of purchasing since chances are I won’t likely keep the car for more than 4 or 5 years. google sheet: > **[Copy of Model 3 Lease Comparision](https://docs.google.com/spreadsheets/d/1DVIQ2X7mV3hYq42unNPivUnRZ1KZk7nnFCAXgRpD0ZE/edit?usp=sharing)** > > This Sheet is private hackr calculator: > **[Leasehackr Calculator - Hack your next lease | Leasehackr](https://leasehackr.com/calculator?make=none&miles=10000&msd=0&msrp=39990&sales_price=39990&months=36&mf=0.001083333333&dp=0&dealer_fee=0&acq_fee=695&taxed_inc=0&untaxed_inc=0&rebate=2000&resP=58®_fee=521&sales_tax=10.25&demo_mileage=0&memo=&acqFee_check=true&monthlyTax_radio=true)** > > Score the best deal with real-time lease and finance data on demand and the ultimate lease/finance calculator trusted by America’s expert leasing community. (note - when you select Tesla on the calculator it automatically factors in a fed tax credit that is no longer available. this needs to be fixed) Tesla Calculator: [https://www.tesla.com/model3/design#battery](https://www.tesla.com/model3/design#battery) . (standard range plus, no options MSRP 39990) ---
**Author:** ![jeisensc](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/jeisensc/32/224821_2.png) [@jeisensc](https://forum.leasehackr.com/u/jeisensc)\ **Post date:** [January 14, 2020, 8:18pm UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/2 "2020-01-14T20:18:26Z")
Their website configurator starts with a down payment, if you 0 it out there is still $1230 DAS on the stripper Model 3. I don’t see that in your spreadsheet. ---
**Author:** ![mp11477](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/mp11477/32/9283_2.png) [@mp11477](https://forum.leasehackr.com/u/mp11477)\ **Post date:** [January 14, 2020, 8:37pm UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/3 "2020-01-14T20:37:00Z")
Don’t forget to calculate in that “potential gas savings of 4300” that literally has absolutely nothing to do with the financing 🙄 ---
**Author:** ![faroutspacenut](https://leasehackr.b-cdn.net/letter_avatar/faroutspacenut/32/5_5575768a8748004e209b776fc1b2916d.png) [@faroutspacenut](https://forum.leasehackr.com/u/faroutspacenut)\ **Post date:** [January 14, 2020, 8:40pm UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/4 "2020-01-14T20:40:07Z")
Thanks or responding, yes, that is on the spreadsheet. All of the due at signing expenses are on the lower section. A more accurate number would be closer to $1877 which includes not only the first month’s payment and aq fee but also CA registration and upfront taxes. There could be other fees I’m not aware of (doc fees etc) but I have not sat down with someone yet to get hard numbers. ---
**Author:** ![trife](https://leasehackr.b-cdn.net/letter_avatar/trife/32/5_5575768a8748004e209b776fc1b2916d.png) [@trife](https://forum.leasehackr.com/u/trife)\ **Post date:** [January 14, 2020, 9:16pm UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/5 "2020-01-14T21:16:26Z")
The answer is that you can’t make sense out of Tesla lease numbers lol. I kid, but I really did a ton of mental gymnastics to try to make the numbers justifiable. Could never get there, unfortunately. To each his own though. Imagine if they actually had a good leasing program? Sales would increase a good bit, I’d bet. ---
**Author:** ![WSM](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/wsm/32/117238_2.png) [@WSM](https://forum.leasehackr.com/u/WSM)\ **Post date:** [January 15, 2020, 10:56am UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/6 "2020-01-15T10:56:52Z")
You can’t do an apples to apples comparison when financing a 40K vehicle and leasing one. Here is why: 1. Tesla leases are incredibly poor. Not many people will pay $535.00 per month on a 40K car. 2. Financing (or owning) a vehicle is always more expensive in the beginning, because you are paying towards ownership, not towards borrowing. To find the benefits of financing, you should extrapolate your calculations to 6 years, your cost of ownership will be cheaper than leasing for another 3 years. Financing model for 5 years: ~45K @ 3.5% for 60 months = $819/mo. Total paid after 60 months, $45,000 vehicle + $4,118 interest. Final Cost = $49,118. Sell Vehicle for 20K. Total Cost: $29,118.00 Leasing model for 5 years: $535 x 60 months (assuming you sign a 2 year if thats possible after the 3 years). = $32,100.00 The beauty of leasing is to obtain a vehicle that would otherwise, not even be comparable when financing. The beauty of financing is to obtain a vehicle that would otherwise, not lease well. Some people finance and keep their vehicle for many years, which ultimately is cheaper, no mileage restrictions and no wear and tear possibility. Some people lease because they are sure they will get rid of it. A good vehicle to lease: BMW A good vehicle to buy: Honda, Tesla ---
**Author:** ![leznjay](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/leznjay/32/42275_2.png) [@leznjay](https://forum.leasehackr.com/u/leznjay)\ **Post date:** [January 15, 2020, 5:05pm UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/7 "2020-01-15T17:05:06Z")
Agree. Financing the car using CU to lower APR will certainly help to justify the purchasing. But not sure how tesla’s battery holds after 6 years or so, which will affect the reselling price. ---
**Author:** ![max\_g](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/max_g/32/9426_2.png) [@max\_g](https://forum.leasehackr.com/u/max_g)\ **Post date:** [January 15, 2020, 5:07pm UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/8 "2020-01-15T17:07:33Z")
There is an article on Quartz about a fleet of 7-8 Tesla’s that are all very high mileage. ---
**Author:** ![jeisensc](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/jeisensc/32/224821_2.png) [@jeisensc](https://forum.leasehackr.com/u/jeisensc)\ **Post date:** [January 16, 2020, 1:46am UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/9 "2020-01-16T01:46:01Z")
Tesloop shares their repair details too > [@Longevity of EVs and Maintenance Costs](https://forum.leasehackr.com/t/longevity-of-evs-and-maintenance-costs/199373): > > Interesting breakdown from SoCal based Tesloop in Autoweek [https://autoweek.com/article/green-cars/how-do-300k-mile-teslas-hold-ev-fleet-operator-has-some-interesting-data](https://autoweek.com/article/green-cars/how-do-300k-mile-teslas-hold-ev-fleet-operator-has-some-interesting-data) Most EVs are still too young to die of old age, but not the Teslas at [Tesloop](https://www.tesloop.com/one-way-rentals), a Southern California-based fleet that rents the EVs to customers who need to travel from San Diego to LA or destinations in between. The Tesloop cars can clock up to 17,000 miles a month and need to recharge as often as twice daily. Several of i… ---
**Author:** ![Electric](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/electric/32/70040_2.png) [@Electric](https://forum.leasehackr.com/u/Electric)\ **Post date:** [January 16, 2020, 2:03am UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/10 "2020-01-16T02:03:04Z")
They don’t need help there: they couldn’t even deliver all the “promised by EOY” sales. In short. The Model 3 is a shitty car to lease and a great car to buy and resell when you’re bored with it. Just make sure you don’t go too crazy on the options: near base cars seem to be holding their value best. ---
**Author:** ![Cody\_Carter](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/cody_carter/32/17794_2.png) [@Cody\_Carter](https://forum.leasehackr.com/u/Cody_Carter)\ **Post date:** [January 19, 2020, 9:22pm UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/11 "2020-01-19T21:22:37Z")
Wasnt sure were to place this but here is a decent lease swap on a Model 3. > **[2019 Tesla Model 3 lease in Santa Monica, CA](https://www.swapalease.com/lease/details/2019-Tesla-Model-3.aspx?salid=1418751)** > > This is a lease transfer. You can lease this 2019 Tesla Model 3 for $452.27 a month for 28 months. ---
**Author:** ![carddicted](https://leasehackr.b-cdn.net/letter_avatar/carddicted/32/5_5575768a8748004e209b776fc1b2916d.png) [@carddicted](https://forum.leasehackr.com/u/carddicted)\ **Post date:** [January 29, 2020, 7:24am UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/12 "2020-01-29T07:24:41Z")
Tesla MF translates to a little over 5% The Mode 3 you cannot buy at the end of the lease. Musk wants them all back. The only way to keep one past the lease is to buy it from the beginning ---
**Author:** ![Mark.ca](https://leasehackr.b-cdn.net/letter_avatar/mark.ca/32/5_5575768a8748004e209b776fc1b2916d.png) [@Mark.ca](https://forum.leasehackr.com/u/Mark.ca)\ **Post date:** [January 29, 2020, 4:38pm UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/13 "2020-01-29T16:38:08Z")
> [@carddicted](#): > > Musk wants them all back This is the first year of lease expiration and i’m sure we will see Tesla changing the terms and allow owners to buy out. What else they going to do with them? They are not ready to be robots and storing them until they are ready will be expensive. ---
**Author:** ![Electric](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/electric/32/70040_2.png) [@Electric](https://forum.leasehackr.com/u/Electric)\ **Post date:** [February 3, 2020, 6:48am UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/14 "2020-02-03T06:48:05Z")
They will be turned around on the used market at inflated prices to continue propping up used values. With the Model Y’s release and seeing reports of extra high offers from Tesla for their cars, I submitted a trade-in on my P3D. ![image](https://leasehackr-assets.b-cdn.net/original/3X/a/c/acc56ffad4bfe7a76b77bfdf7b3bae0688347b58.jpeg) With sales tax credit that’s $54,000 approximately (still taking a loss, but not bad) Tempting? Sure. But that only puts us into a LYD with AP (FSD extra…) ---
**Author:** ![Traderx](https://leasehackr.b-cdn.net/letter_avatar/traderx/32/5_5575768a8748004e209b776fc1b2916d.png) [@Traderx](https://forum.leasehackr.com/u/Traderx)\ **Post date:** [February 3, 2020, 11:32am UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/15 "2020-02-03T11:32:04Z")
🤣🤣🤣 Potential gas savings, yep because electricity is free and the premium you pay for a tesla is "non Existent " 🤣🤣🤣🤣🤣🤣🤣 ---
**Author:** ![Mark.ca](https://leasehackr.b-cdn.net/letter_avatar/mark.ca/32/5_5575768a8748004e209b776fc1b2916d.png) [@Mark.ca](https://forum.leasehackr.com/u/Mark.ca)\ **Post date:** [February 3, 2020, 7:18pm UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/16 "2020-02-03T19:18:02Z")
> [@Traderx](#): > > because electricity is free and the premium Premium compared to what…a Corolla? a 3 Series? a bicycle? electricity is not free in most cases but still way cheaper than gas in the was majority of the states. In CA where most of them are sold is not even close. ---
**Author:** ![coss1600](https://leasehackr.b-cdn.net/letter_avatar/coss1600/32/5_5575768a8748004e209b776fc1b2916d.png) [@coss1600](https://forum.leasehackr.com/u/coss1600)\ **Post date:** [February 3, 2020, 7:51pm UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/17 "2020-02-03T19:51:33Z")
How do you get trade in quotes without ordering new car ---
**Author:** ![manku](https://leasehackr.b-cdn.net/letter_avatar/manku/32/5_5575768a8748004e209b776fc1b2916d.png) [@manku](https://forum.leasehackr.com/u/manku)\ **Post date:** [February 3, 2020, 8:41pm UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/18 "2020-02-03T20:41:16Z")
I’m a little confused here: 1. Many people pay $535/month for a $40000 car…not on leasehackr, but in the real world, yes. It’s shocking when I look at my friends leases…I would argue that $535 is actually below average for many of them (in terms of price/value). 2. One thing you ignore when buying is the 9.5% (LA) tax hit you take when you sell your car. You’ve paid an extra $1900 in taxes when you sell that car. Include that, plus the hassle of selling (and possibility that you don’t get the full amount), and it’s maybe a $1000 difference total over 5 years $32100 - 29118 -1900). I’ll pay $200/year, or much more, to have a new car, no warranty issues etc…I’d imagine most others on this site agree. ---
**Author:** ![littleviolette](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/littleviolette/32/182_2.png) [@littleviolette](https://forum.leasehackr.com/u/littleviolette)\ **Post date:** [February 8, 2020, 7:01am UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/19 "2020-02-08T07:01:09Z")
We updated the calculator to reflect the change. Thank you for letting us know! ---
**Author:** ![bmwdave](https://leasehackr.b-cdn.net/letter_avatar/bmwdave/32/5_5575768a8748004e209b776fc1b2916d.png) [@bmwdave](https://forum.leasehackr.com/u/bmwdave)\ **Post date:** [February 8, 2020, 6:39pm UTC](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373/20 "2020-02-08T18:39:16Z")
just get a bmw 3 series for that price. can get a very nicely equipped model for that price. lots of people posted here with unbelievable deals [Next page](https://forum.leasehackr.com/t/help-me-make-these-tesla-model-3-lease-numbers-make-sense/220373.md?page=2)