I received my $80K Cybertruck lease contract today and want to confirm the language in the contract allows me to buyout early at the adjusted cap cost without any funny business. Half of the $15K cap cost reduction is the $7500 (commercial/45W) EV tax credit.
Here are the pertinent sections:
- PURCHASE OPTION. You may purchase the Vehicle from us if you are not in default, on an AS-IS, WHERE-IS basis, at any time before or at the end of the Lease Term. To purchase the Vehicle, you must pay the sum of (a) the amount in Section 14 if you purchase the Vehicle at the end of the Lease Term, or the Adjusted Lease Balance plus the purchase option fee in Section 14 if you purchase it before the end of the Lease Term, plus (b) any related official fees, such as sales tax, other taxes, title, tags, license and registration we are required to collect, plus (c) any past due Monthly Payments and any other amounts you owe under this Lease. If you purchase the Vehicle, you will transfer title, re-register the Vehicle and remove and return the license plates (if required by law) within 30 days after purchase or any shorter time required by law. You will sign any additional documents necessary to effect the purchase. We may, at our option, apply any credits or security deposit under this Lease towards the purchase price
(3) Adjusted Lease Balance: The Adjusted Lease Balance equals the Adjusted Capitalized Cost minus the sum of all accrued monthly Depreciation for each Monthly Period before termination of this Lease and the Monthly Period in which this Lease terminates.
- Purchase Option at End of Lease Term. You have an option to purchase the Vehicle at the end of the Lease Term for $ and a purchase option fee of $ , for a total of $ . The purchase option fee does not include fees for tags, taxes or registration