Need a family car with my first child on the way soon. We’re consolidating from 3 cars down to 2. I sold my Tacoma and my wife is selling her Jetta (we will use that money to put down on the next car). We are looking at an SUV/crossover for her and I to share and haul the baby around in, so safety is very important. We looked at the model Y long range and absolutely loved it, but I am reading they are horrible to lease.
Should we lease a Model Y Long range? In NJ, we have no sales tax on EV’s and an upcoming 5k state discount. It doesn’t look like we can get anything better for the money. Maybe I’m wrong.
36/12k
MSRP: $55,290
Sale Price (with state discount, including all fees): $50,290
Money Factor: 0.0017625
Cash down payment: $2958
Drive off: $4500 (title, fees etc…)
Monthly: $473.36
Are there better options for us that offer similar experience to the Tesla? We really like the car and have thought of just buying one, but I am partial to leasing.
As soon as you mixed the cash down and lease it became not smart to say the very least. And that’s just keeping the whole Tesla thing as a family car out of it.
I understand the MF is high and the there’s no discount (except state rebate).
But to get a comparable car, like a BMW X3 M40i is going to cost more to lease than the Tesla. I can’t seem to find a better car for the same price or less.
What’s wrong with the Model Y as a family car? If we take out the cash down we’re in the high $500’s which seems run of the mill for a 55k car, no matter what brand.
What would you suggest?
A x3 m40i leases about the same it looks like.
You’ll have to work at defining what you think better is. There are things the model y does very well and things a Honda civic does much better.
Also, who cares if an x3 m40 is more expensive to lease. If you’re set on a model y, it comes down to if it makes more financial sense to buy or to lease. And no incentives with a high mf tilts that way away from leasing.
Have you considered what happens if something breaks? They couldn’t fix anything when everything great in the world, with part shortages you think your model y will be first online for repairs?
But the way you are phrasing you posts, you made up your mind on the car and now you want everyone to figure out for you how to justify it. You want to lease it, lease it. The thing with Tesla lease is it is what it is, so there is really nothing to hack or debate.
Here’s what’s important to me, in descending order:
Safe
Practical for a family of 3
Premium interior/features
Fun to drive (fast)
The Tesla ticks all those boxes for me, that’s why I’m leaning towards it.
I understand leasehackr is all about getting great deals. I’ve used this site many times. I got my 2019 Tacoma off here, a 42k truck I paid $230 a month for and just sold to vroom with $4400 positive equity in it. Cost me $836 total to drive it for 2 years.
This next car I’m not really too concerned about getting “the best deal”, just what’s best for me and my family at this point in time and not a horrible financial decision.
I sometimes pay more to lease just to have the added insurance/assurance. Don’t always want to worry about accidents and car value, or what the used market will be like in three years, or if Tesla will still be around. For me it’s not always just about financial sense.
