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.
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.
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¦
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?
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.
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
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.