Tesla Model Y Calculations -- Need your advice $550~ month

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Hi! This isn’t a lease per say but can you all please offer me advice ? I am trying to figure out whether to get a cheaper lease on a BMW/Audi ($300-$400 a month) or go with a Tesla Model Y.

For Tesla Model Y ($58k total with taxes) I have been approved to finance the entire car including taxes for 1.65% loan (it’s not a lease). I would pay $0 down on the loan and my monthly payment is ~$1250 a month for 48 months. I calculated that over 4 years, basic depreciation will be around 45% so 4 year total cost of ownership likely is around $541 not including any benefits of not using gas… so roughly $500 a month if you consider that.

Now I can get a 36 month lease on a BMW 3 series for around $375 a month…

Which one should I go for?? I think the Tesla seems way more appealing in this scenario… would love anyone’s thoughts/advice here!

Thank you in advance, love this community.

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One is guaranteed and the other is based on assumptions. That being said get the car you’ll enjoy the most.

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The head of used car sales @ Tesla is a friend of a friend and he was mentioning that the depreciation levels for Model 3 have been so so low compared to anything else they’ve seen.

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Think of all the money you’ll save on corner moulding for your house if you get the model y

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If you’re looking at 3-series, why not a Model 3? Then you would be comparing apples to apples, rather than a sedan versus a crossover.

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Great question, I drove both the 3 and the Y and the Y seemed way more comfortable and it’s only $3k more than the 3… originally I was going to opt for the 3.

TBH I just want to get a high end car for the next 4 years (luxury, maybe electric, and spend around $500 a month). I don’t have a huge preference on which one… Just trying to figure out the tradeoffs.

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You must be talking about a LR or Perf Model 3.

A base Model 3 is like 38K ($350/mo.in NJ w/ EV credits)

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Yeah LR M3 vs L3 Y.

$49,490 M3 LR (with wheels and color)
$52,990 Y LR (with wheels and color)

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Ok so what are you asking from internet strangers?

What if you go with someone else’s subjective, possibly biased, opinion and then regret it every day?

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Are you sure 4 year depreciation is going to be 45%? I feel thats a risky assumption. Esp when you try to trade in your car.

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In Texas? With a substantial amount due at signing, sure. I just did a $49,975 lease yesterday at 14.2% off, and with lease-to-lease loyalty ($3,250 in incentives), it was $499 with $500 DAS.

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There is really no point debating the 4yr depreciation on something when the data barely exists.

It’s all speculation

Ask 10 people and you’ll get 11 answers

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You can get depreciation curves for model X. I’d wager it be closer to that, than closer to say Jag F-type

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Which is not a guarantee of pricing on a different model 3+ years from now.

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I honestly think you’ve already made up your mind.

If it were me, I would choose the Tesla. Since your other option was a 3 series, I would go with a Model 3 LR. The interior would be the exact same as the Model Y and it cheaper out the door with taxes included. Plus, if you want more of the performance, I would call Tesla and ask if they had any stealth performance Model 3s available.

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You’re neglecting to factor in that insurance costs on Teslas are astronomical compared to a BMW or another actual luxury OEM. It’s ridiculously easy to total one, and the rates reflect it

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Very good point - insurance rates.

OP - see what you get for insurance quotes… Tesla insurance probably will be your best option, and even then it’ll likely be pretty expensive.

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Get the car you will enjoy driving. $375 - $1250 is a huge payment range.

What car are you driving now? What are you looking for in your next car?

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You can get a 75k etron for a lot less than the model Y . Think about it

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I compared rates on a Model 3 and the rates were about $400 more per year. Not astronomically high.