If I’m only keeping it for 36 months anyway, I’m curious how the calculation would come out. I’d be buying the Model 3 LR. I realize that buying is usually the way to go since interest rates are quite high on their leases. But on a lease, you are paying that interest rate on the depreciation amount only, no? Because of that, would it be worth leasing since my sales tax rate is ~9.5%?
You are paying tax on the lease too…just not the entire amount as you would do when buying. The lease deal is pretty bad so if you want it it is still best to buy it.
Where do you live? In WA state sales tax is exempt on EVs up to a certain amount (I believe around 25k). So if you lease and you’re under that amount, you are charged no sales tax.
He tagged SoCal…so no sale tax expiration
Buying vs leasing has to take more into consideration …such as whether your projected resale value exceeds the lease RV by more than the tax savings.
And purchasing finance charges vs rent charge on a lease.
No, you pay monthly interest (money factor) on the average amount financed, which is (net cap cost + RV)/2
Hmmm okay, what would that be roughly on a $49900 model 3? Does anyone know the residual and money factor used?
I’d love to see the actual numbers in terms of tax paid via lease and interest paid via lease, vs tax paid via loan and interest paid via loan (but selling after 36mo… and interest is front loaded in a loan)…
Define ‘high sales tax state’.
If I go into the Tesla calculator a Model 3 LR with $0 down will cost me $633 per month plus tax.
Thats:
$671 @ 6% tax
$683 @ 8% tax This my current tax in Tampa, FL
$696 @ 10% tax
So, $1800 is taxes over the length of the lease. If i were to buy it outright, without a trade in, it’d cost me $4000 is taxes.
(this is all ‘approximate’)
I’m in LA. 9.5% tax
For a base 3…39980
Lease: 571, 310 drive off, 36/10. You can’t buy it out.
Purchase: 2.8k drive off, 615 month, 72 months.
If the car market is the same 36 months from now, then buying is the way to go.
If not…or if Tesla loses its cool factor or overproduction or larger government incentives, then leasing is probably wiser.
Personally I will not gamble against Tesla depression …
As for now (deposit the shortage) they prove to hold thier value very well
Someone reported that he sold his Tesla lease to a 3rd dealer which can be advantageous for lease.
Some details below from: Lease-End Options | Tesla
Purchase Your Tesla
You may be eligible to purchase your leased Tesla. Review your lease agreement to see if you qualify.
Eligibility
- Model 3 and Y are not eligible at this time, unless a third-party dealership is purchasing directly.
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