39 k Bolt leases with 3k down were 350 max at close to full MSRP
Makes a little more senseā¦so you actually DO get a refund at the end of the year as long as you HAVE paid that much in taxes throughout the year?
Sorry im just trying to wrap my head around it.
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Wellā¦ I just emailed my sales rep at Tesla with whom I took a test drive last month asking for numbers on an inventory car with a discount. Letās see what numbers she comes back with and we can hack the quote up.
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Yes, hence the name ātax creditā. Essentially the government is crediting you back for the tax dollars you have paid for choosing an EV over an ICE carā¦
It would make no sense to lease for 500 with no ability to buy the car at the residualā¦
For a 30k loan, assuming tax credits of 2.5k State and Fed 3.8k, the payment at 3.5% for Fico 750+ is close to 550 on 60 months anyway ā¦
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Tesla just out here making bonehead decisions.
I think Tesla business model works well for the affluent but not the masses
Yes, of courseā¦but even if i plan to buy i would still lease first. For a few hundred i prefer to test drive the car for 3 years and then decide if itās a keeper. This is the reason why my leases have good terms and low rvs. Just in case ev leases go to the crapper in the futureā¦this way at least i have options.
Just a thought - since there is no buy option at the end of the M3 lease, does this become a depreciating asset for Tesla? Especially since they will utilize the 3yr leased vehicles for their ride-share fleet. I believe cars fall into the 5yr depreciating category. So after 2 further years of ride-share use, the car is fully depreciated and any sale/retail/salvage value will be profit?
Use the Leasehackr Calculator, choose Tesla, and set the residual to 60% for 36 months. You can also add the $3,750 credit as an untaxed incentive. That car is actually $40,700 with doc fee so hypothetically it would be even cheaper than my calculation if Tesla offered more competitive leases.
Congrats. You found a bug in LHās calculator. Simple hand calculation can prove that.
@littleviolette @michael can you take a look at this?
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It is something with Teslaā¦ using those numbers with other manufacturers gives higher payments.
I think Michael mentioned something about a bug for Tesla in the calc in his thread. I think he said not to select a car in the interim when calculating
The interesting part is that the full breakdown of the lease deal is in the source codeā¦
36mo 10k is 54%, 12k is 53% and 15k is 51%
MF is 0.00271 (6.5%)
They are also using the $3750 federal tax credit as either a cap cost reduction or a residual enhancement after the %s are applied. Iād be very interested to see the lease contract with the required Reg M stuff to see how they are structuring these.
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From what my sales rep said the inventory cars are going ātoo fastā to discount. They offered no discount even at the end of last month. Only a higher trade in value
The sales rep said they deduct the $3750 tax credit from the residual amount, which would actually raise the cost of the leaseā¦ (Unless he meant that they add it.)
Yeah I did the math and he is backwards. The lessor gets it if they show profit on their taxes.
You mean the captive? Lessee doesnāt own the car under a lease.
He said lessor (aka captive) not lessee
Looks like Mode 3 leases are live on the Tesla website. Opinions on the value? Is this at all a decent deal?
$589/month
$44,500 MSRP
$4,284 DAS ($3k down payment minimum)
36 months
10k miles
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Opinions will obviously vary from person to person about which is the better vehicle, but the question does remain: Is an entry level Tesla worth around the price of Two Bolts when you add in the TDAS? Iād say no.