My current lease is up in August and I’m doing some research to figure out if I should buy or lease.
As the new EV tax credit is likely to be reintroduced, I am looking at a Tesla Model 3. In my finance scenario I would use $6,500 as down payment ($1,500 from CA and $5,500 from Federal).
The attached chart compares the cost of ownership over 72 months between Tesla Model 3 and a basic Mini Countryman around $30,500. Although the payments on the Tesla are higher, I would end up saving money in the long run. FYI - Resale value has not been computed in the chart, neither the potential loss if I end up in an accident.
I will be using my next car for business around 30% of the time.
Would leasing $30-$35K German cars over the next 72 months (2 leases of 36 months each) make sense once you factor in cost of maintenance, gas, no equity, etc…
My goal is to make the best possible financial decision with the least amount of financial loss.