New Leasing Details?

[eye.surgeon]

well a lot of people, like myself have actually leased a car for business purposes, and made a solid 3k - 4k profit by selling the car to carmax before your lease expires ... obviously that will not be feasible with the model s... also, judging by the calculations provided, their "BUYOUT" is not traditional in the sense that they are coming up with the end of lease buyout amount out of thin air .. in this case, the buyout looks like it should be about 20k less?

Given that Carmax doesn't show a single Tesla in their system I think it's safe to say you're not going to be selling to them lease-end regardless of your lease terms. And the buyout should be $7500 over market value, not $20k.

 

[jweinstein]

Looks like a money factor of 0.001521 or interest rate of 3.65%

And they keep the 7500 credit.

correct?

How did you calculate the money factor, if you don't mind describing?

 

[smilepak]

I just finished up leasing terms for a P85D last week. Here are the terms as they were sent to me from Tesla Financing. I asked for them to break everything out. I'm in California w/ a 8% tax.



Sale Price $131,470
Leasing- 36 months; 15,000 miles per year ($0.25 per mile over)
Monthly payment: approx. $2,091
Due at delivery:
Capital cost reduction: $5,000 minimum, on approved credit ($2,500 already on file from your deposit)
Acquisition fee: $700 + $56 sales tax
Est. first monthly payment: $2,091
Est. title/registration fees: $695
Sales tax on capital cost reduction: approx. $400 (dependent on the capital cost reduction placed)
Residual value: approx. $67,976
Disposition fee: $300 (applicable if you turn your car back in at the end of the lease term)

After my initial $2,500 down, I'll owe approx. $6,400 at delivery.

Keep in mind that the $5,000 down is on approved credit - it is not guaranteed for everyone. The original terms presented to me required a higher down payment which obviously lowered my monthly payment, but I wasn't willing to put down any more than the $5K for a lease. I had to provide some additional documentation and proof of income in order to get my terms back down to the minimum down payment - it took about a week to get everything squared away after receiving the initial terms.

I hope this helps. Let me know if I can answer any other questions in regards to my leasing experience.

did the lease term included gap insurance or did you have to buyit fro your own insurance company?

what is the penalty for early termination?

 

[Law&Disorder]

Depreciation Fee = ( Net Capitalized Cost – Residual Value) ÷ Term
Finance Fee = ( Net Cap Cost + Residual Value ) × Money Factor

Total Monthly Lease Payment (assuming taxes paid separately) = Depreciation Fee + Finance Fee

 

[travwill]

Has anyone started the leasing process since the adoption of the new program ... with USA Bank.

I don't intend for this to be a pro/con thread of leasing vs buying.

I notice the fine print of the lease states that a down payment is due @ the time of signing, of course, that includes $5,000 down, 1st lease payment, and $700 acquisition fee.
Understandable of any lease. My question is with the next line: "Tax, title, license, registration and other fees are additional fees that are due at the time of signing."

Does this mean that in addition to the lease down payment above, there will be an ADDITIONAL down payment for those additional fees, or are these incorporated into the lease payment?

I put my $2500 down yesterday, filled out the financing application today. I expect Tesla to get back to me next week for more specific details on the lease.
I don't want to push my car into production obviously until I have all the leasing info up front.

There is a big difference between closing on the car with $6,900 versus $6,900 PLUS tax/title/registration on a $95,000 car. Seems like the up front cash for a lease would be closer to $12,000+.
Not much detailed information on the website about the specifics of the new leasing program.

I know I'm just jumping the gun, excited to pull the trigger. I'm expecting a call from Tesla Financing early next week to clarify. I just really want to push that car into production!!!








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so yes, you will on top of the $5k, also have to pay tax title and license fee. The big part is tax. Where are you at? In most places you pay tax sales on just the lease payments, say on 36k that you use, not the whole car. Depends on where you are. Also some places like big cities then have a use tax on top of that so research it (for example in Chicago you now pay sales tax on the lease payments and an additional 9% on top of that so crazy).

you deposit goes towards all that.

Tesla lease deals seem to stink so I switched over to just purchasing the car. Made more sense also with tax credit if you purchase still that you lose in the lease.