Help me make these Tesla Model 3 lease numbers make sense

Don’t forget to calculate in that “potential gas savings of 4300” that literally has absolutely nothing to do with the financing :roll_eyes:

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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.

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.

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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

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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.

There is an article on Quartz about a fleet of 7-8 Tesla’s that are all very high mileage.

Tesloop shares their repair details too

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.

Wasnt sure were to place this but here is a decent lease swap on a Model 3.

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

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.

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.

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…)

:rofl::rofl::rofl:

Potential gas savings, yep because electricity is free and the premium you pay for a tesla is "non Existent "

:rofl::rofl::rofl::rofl::rofl::rofl::rofl:

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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.

How do you get trade in quotes without ordering new car

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.

We updated the calculator to reflect the change. Thank you for letting us know!

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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

One can score a pretty fat Tesla deal the same as a BMW but it’s a lot harder to do so and much more competition. These are also not cars you lease as much as buy due to the restrictions placed and base value.

You don’t say…Check this study on used cars buying.