I am thinking of getting a Model X due to thecrecent price drop. I am deciding between a lease or finance in VA. Anyone lease a model x, if so how was it? Are there any advantages Tesla gives you on a lease to get into a new Tesla at lease end? Can you lease with $0 down except first payment, tags, and taxes?Below is some info unique to my situation…
I have leased multiple cars before, around 5 I think. They were all 36 months and $0 down. I never kept a car the length of the lease, i always turned in early.
I like the certainty of a lease knowing in 3 years or less I get a new car.
I like not worrying about trade in value with a lease
I have never bought a lease at the end so the fact Tesla doesn’t allow that isn’t a concern.
I don’t qualify for the $7,500 tax credit on a finance due to income.
I plan on keeping the model X for 3 years at the max on lease or finance.
In SoCal with 7.5% tax rate, it’s $3k das and $1438/mo. It will be a little higher in VA where you pay tax on the full value of the vehicle. Tesla.com is pretty accurate on its estimates. It’s up to you to decide if it’s worth it.
If you do decide to lease it, don’t forget to also enroll in the iPhone upgrade program.
When I put $0 down for both the payment is the same. Money isn’t my biggest concern. I like the predictabilty of a lease. Plus I like knowing I can get a new car with new tech/looks/hardware every 3 years.
Sell it in 3 years or even before since money is not a concern. I say this as someone who has leased for almost a decade. If the price between the cars I’ve had was the same for lease and finance, I would have financed.
