Starting to see deals pop up:
Iāve been trying to calculate the lease cost of a Model Y and it makes no sense to me. MSRP for a RWD is $45,000 and the website calculator says $310/month after the $7500 federal incentive. Then I subtract $9000/36 from that and I get $60/month. That seems obviously wrong but I canāt see what Iām missing.
A Model 3 is +$60/month, so I guess they pay me to drive one around??
If you make 45k a year, then yes they are. But the weird thing about the 9k, it says 3+ and it says 5k on 3yr. So I guess 39 month lease?
The incentive site clarifies
Rebate Amounts
New EVs
- Purchase or 24-35 Month lease: $5,000
- 36 Month + lease: $9,000
Used EVs
- Purchase or lease: $2,500
That would be interesting. Show us a screenshot of where you are getting these numbers? What is the down payment? Are you including the taxes? Are you removing the āgas savingsā?
$7313 down payment is from the projected $7500 tax credit. Then -$250/month from the $9000 incentive.
I didnāt have the included taxes and fees put in because they seemed off.
Est. Taxes & Fees
| Destination Fee | $1,390 |
|---|---|
| Order Fee | $250 |
| Acquisition Fee | $695 |
| Disposition Fee** | $395 |
| Est. Non-Tesla Fees | |
| Registration Amount | $250 |
| RTA County Fee | $495 |
| Up Front Tax | $1,644 |
| Total Est. Taxes & Fees | $5,119 |
I thought WA has a sales tax exemption for EVs, so Iām not sure what the $1644 is for. If I toggle it, it raises the price to $350/month.
Then I get murdered by RTA.
I had wondered if the $44,990 estimated purchase price for the lease already included the $7,500, but if you hop over to the Cash calculations, it shows $44,990 MSRP with an option to apply the $7,500 to knock it down to $37,490.
Sooooā¦ Iām assuming that $310/month estimate is without having the federal $7500 applied and that it can be used as the down payment.
Are you sure about that? On a lease, the bank receives the 7500 tax credit not the lessee.
My assumption is that your assumption is incorrect.
Have you tried asking them on the phone? I remember the rebate being explicitly mentioned when applicable.
Itās up to the bank/company if they want to pass that on to the consumer. Tesla does not pass it on.
I also assume my assumption is incorrect. I havenāt done any legwork aside from some napkin math, so Iāll see when I actually pull the trigger.
I found this screenshot on reddit though for a Model 3, so maybe itās a case-by-case basis?
Okay, I only halfway pulled the trigger. Need to figure out how to get a cosigner on the lease and also recheck the numbers. I did put the $250 deposit down though, so this might just end up being a expensive life lesson if it doesnāt work out.
Hereās the price of the car.
Annoyingly, even though Iām in the āfinancingā section in the app, itās still giving me a calculator instead of more concrete numbers. I can only enter a range of $2869.10 - $10,130.19 for the down payment. If I put in the minimum, my payments are $546.18/month.
And if I assume the $9000 EV credit is just plopped in as my down payment, My monthly payments are $359.57/month.
Soā¦ nowhere close to the lofty $60/month I was hoping, but Iāll see how much higher or lower these numbers get once I check in person.
Bizzarely, this Kia looks like it ended up being cheaper despite the MSRP being more than this Model Y. I donāt understand how this math works.
Heads-up to any planning to take advantage that today, 10/21/24 is the last day as funding has dried up.
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