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Tesla offered early lease end opportunity
- Thread starter jh87
- Start date
You might be able to get the same thing by calling. At one point, on my last lease, I was debating about ending it 6 months early. They seemed happy enough to do so; they just do the math on the current residual and market value and balance things out. In my case, since the vehicle was worth quite a bit more than the residual, I would have gotten a cheque.
wamochi
Member
i got the "offer" but all it was was to pro-rate the remaining lease payments if i get a new one earlier than my 10/1 maturity date.
i was one of the lucky ones to get a firesale P90DL at a very low lease price but with inflated residual. so in my case, our P90D (despite being babied and like-new condition), is not going to be worth anywhere near the 95k residual!
we ended up doing a lease assumption on a gently owned X P100DL so we can still have a very reasonable payment on a short lease while trying out the Model X for the first time ...
Ormond
Endless Peacock
I wonder how they expect us to take delivery by September 30th. How will they be able to produce them that quickly?
Ormond
Endless Peacock
My loyalty advisor had built one for me that was basically identical to my X, but a 100D. I wouldn't want something identical. If I order a 3P+, how will I get it within 30 days.? I just need to make a damn decision.
I have spent time on two calls with them, they are confused about taking the current car in and suggested a private sale, then they tried "inventory cars" aka gently driven show room cars, then agreed to let me design a car, then didn't come back.
I'm going to wait for my lease to end.
I'm going to wait for my lease to end.
Ormond
Endless Peacock
Just to update, my loyalty advisor thought that I was in California. He still thinks I can get a M3P by the end of September, however. I don't see how. I would only save one lease payment. I I still have to make up my mind.
There is no history of anyone, anywhere leasing a Model 3 through Tesla.
You might be the first though I'm skeptical even Tesla would offer it because income stream not as nice as lump sum selling it outright.
Ormond
Endless Peacock
I would be buying it. If you take delivery by September 30th, they waive remaining lease payments.
Not if they offload the whole lease to a bank where the bank is responsible for and owns the car. The same way you can finance a car from a different bank, there are banks out there that will pay for the car and lease it to you.
This would not affect Tesla finances as they will get paid for the car in full by the bank. In fact there is a nice incentive for a bank to do this for a Tesla because they will then get to pocket the $7,500 as the owner of the car.
Interesting. So Tesla can get the full sales amount in theory but is this how their leases are structured?
I know my Volt is leased but payments go to GM Financial. Two different companies.. I guess GM getting paid but GM Financial is the one getting payment streams and subsidizing the lease?
Also.. while the leasee doesnt get the 7500 rebate, they get a lower lease rate because of the credit so who really pockets the 7500? Or is it split in some manner?
It is my understanding that their leases are structured so that they keep the $7,500. Look at how they structure the residual. Basically they add the $7,500 to the residual to keep the lease payment low but if you decide to buy the car they take away that benefit.
This almost always makes it a poor decision to buy the car you are leasing, as you lose the $7,500. In almost all cases, you are better off turning over your leased car and buying a used car similar to the one you just returned as it will cost less. We almost leased our car but after we read the fine print and did the math, it did not make sense.
If you want to keep the $7,500 and lease, look into a A terminal rental adjustment clause lease as some banks who offer this type of lease lets you benefit from the rebate if you decide to buy the car at the end of the lease. Of course, if you don;t plan to buy the car at the end of the lease finding a bank that will lease ANY Tesla for you (Model 3 included) should not be that hard.
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PS: Here's an example of a company that can lease a Tesla for you if you are not directly leasing from Tesla. As always, do your diligence, read all the paperwork, and do the math to understand the financial product you are buying.
Personal Car Leasing - Xcelerate Auto
Personal Car Leasing - Xcelerate Auto
SpudLime
Active Member
Lightmatrix
Member
I have been made this offer too. Have not yet spoken to my advisor about it. There are some fantastic demo's at pretty good reductions out there right now.
My thinking is that they want to unload as many of the S and X as possible before the $7500 credit drops to $3750 (including demos) as in the eyes of the consumer and perhaps many owners as well the price of the car will have just "gone up" by $3750. Absorbing that in a Model 3 is a lot "easier" for most consumers interested in a Tesla than absorbing that into a Model S/X.
My thinking is that they want to unload as many of the S and X as possible before the $7500 credit drops to $3750 (including demos) as in the eyes of the consumer and perhaps many owners as well the price of the car will have just "gone up" by $3750. Absorbing that in a Model 3 is a lot "easier" for most consumers interested in a Tesla than absorbing that into a Model S/X.
mblakele
FSD Beta (99)
Sorry if I'm taking us of subject, but this may not be limited to leases. Today I received an unsolicited email asking if I might like to trade in my TMS on a new vehicle.
I didn't lease my early-2016 90D, but it came with something called a Resale Value Guarantee. As I understand it that RVG has to be carried on Tesla's books as a liability. Could Tesla boost Q3 by retiring some of those RVGs? Is the accounting similar to leases?
We also offer trade-in service if you are thinking about getting the latest Tesla, our trade-in value has gone up as our cars became[sic] better and better with over the air updates.
I didn't lease my early-2016 90D, but it came with something called a Resale Value Guarantee. As I understand it that RVG has to be carried on Tesla's books as a liability. Could Tesla boost Q3 by retiring some of those RVGs? Is the accounting similar to leases?
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