So I’ve done some searches on here, but I feel like there really is no concrete solution and was interested to see what you all think. This is my first post and I’m not a lease expert, so be gentle.
I have recently cleared the waitlist for a Tesla Model 3. As it sits now, it would be $50,000. I am in California and own my own business. I lease my current car and it has been pretty good for tax purposes and although Tesla only offers purchase, I was trying to see if I could lease it through a third party. Here are the main issues I am having:
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I can’t really use the $7500 federal tax credit. I would love it if a lease company would take it and give me some fraction of it (did this for rooftop solar), but so far, the two companies I’ve looked into (Doering and Xcelerate) don’t do that. They cite that they do not have the income as a company to do so. Is there any way to lease this through something like a major bank who does have that kind of income?
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The two companies that I spoke with seem to suggest that they only do open-end leases on Teslas. They told me it has something to do with their inability to purchase insurance for the residual vs the market price at the end of the lease. Should I worry about this? I do not know the general feeling on open-end leases here, but I have only had closed-end personally. It seems like used Model S vehicles hold value really well compared to other cars, but who knows about the model 3.
For what it’s worth, I have excellent credit and have never been dinged before on a lease for damage. I drive about 9,000 miles per year.
TL;DR: I can now purchase a Tesla Model 3 and want to know what the most sensible way to finance/lease it given that I cannot use the 7500 tax credit and I own my own business.
Any help would be greatly appreciated.