Model S Plaid Lease

Ask the Hackrs Buy/Finance
1

Hello,

I am located in AZ.

I currently own an 2020 M5 Competition.

I ordered a Tesla Model S Plaid over a year ago, and my lease price is $10,000 less than someone leasing today.

My thoughts are that I would lease the Tesla for 1-3 months, and then decide after that time if I like the Model S plaid, or M5 more and I am trying to figure out ways to “get out” of the lease if I decide I like the M5 more.

Because I purchased it so long ago, being $10,000 ahead of other people ordering today I essentially have Full Self Driving for free.

The paperwork shows approximately $85,000 over 3 years worth of payments, but I don’t know the total payoff amount.

The Gross cap cost is $138,190 - $2,316 for 36 months - 15,000 miles per year. This same car purchased today would cost $10,000 more and take 4-6 months for delivery.

I know someone can take over the lease if they get approved from Tesla Financing, but what if I want to sell it to someone on the Tesla forums?

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2

You will need to buy out the lease and then sell it to them. Fortunately, being a model S, this is an option. Cant do it on a 3 or Y.

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3

that’s good to know. thought tesla didn’t let you buy out a lease, so their leases are technically short term rentals.

4

Tesla allows first party buy outs on the S and X. They do not on the 3 and Y.

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5

Are there ways where they can take ownership of the car if they buy it outright? Or I would I would have to transfer the lease to them and then they could buy it out?

Looks like I should have selected to purchase the vehicle outright instead of lease… maybe I won’t take delivery of the car at all.

6

Either you buy it from tesla and then sell it to them or you transfer the lease to them and then they buy it from tesla. The latter is probably a way better option from a tax liability standpoint.

There’s no way for them to buy out your lease directly from tesla.

7

Ok thank you, I appreciate your help!

The Gross Capitalized Cost is the total cost of the car correct? So $138,190, and ordering today would be $148,000+ so that is where I would be able to show that they’re able to purchase the car for $10,000 less than if they were today?

I am trying to think of benefits to taking over my lease vs someone else – saving $10,000 and taking delivery 3-4 months earlier.

9

I think you may be able to change the lease to a finance before you take delivery. You may have to call someone at the Tesla delivery center to help with it.

Proceed with caution: Make sure they don’t redo the transaction at the current price. It can happen especially with Tesla and their automated systems. One wrong click and your order is irreversibly changed. Happened to me.

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