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Unread 07-16-2017, 08:32 AM   #1
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Default Another Tesla thread...

I'm contemplating getting a Model S.

I've always purchased my vehicles, but I'm wondering if it makes sense to lease this time. Leasing might be a good hedge against the risk of having a 4 or 5 year old car that is worthless because the batteries are dead and prohibitively expensive to replace.

Do any of you have a crystal ball and wanna tell me if 5 years from now it will be better if I'd leased or purchased?

TJ
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Unread 07-16-2017, 09:51 AM   #2
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Default Re: Another Tesla thread...

i would lease but thats just me
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Unread 07-16-2017, 10:32 AM   #3
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Default Re: Another Tesla thread...

Quote:
Originally Posted by Swan View Post
i would lease but thats just me
Because of the battery life issue? Or would you also lease an ice vehicle?

TJ
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Unread 07-16-2017, 10:40 AM   #4
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Default Re: Another Tesla thread...

Mostly for the battery issue and not knowing how much I will like it . A lease is a more easy of a out then a normal full purchase . A two year lease and Im out if not happy and then I can move on. After two years with full purchase now im looking to trade it in and I feel that I would take more of a loss to move on to something else.
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Unread 07-16-2017, 07:48 PM   #5
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Default Re: Another Tesla thread...

I don't think batteries will be an issue in that time frame. People worried about that when the Prius came out and apparently wasn't a problem for first or even second owners generally speaking.
Also as long as the lease term doesn't exceed the battery warranty, your covered.
I've leased several cars. Worked OK for me but it's not for everybody. Also some cars lease better than others. It's best when you catch a factory subventing the lease. Watch out for advertised leases that don't include mileage in the advert. Lot of them are for 10k annually. It's my understanding that the Tesla is thrilling to drive. I wouldn't want to be trapped in a situation where I couldn't drive it as much as I want.
Leasing is also a math exercise. Make sure you understand the true purchase price of the car and the residual value. Those two numbers with the lease term and lease rate determine the payments.

An opinion.
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Unread 07-16-2017, 07:58 PM   #6
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Default Re: Another Tesla thread...

Need new glasses

Another Tesla thread


I READ
Another Testicle thread

i am not even sure why i opened it
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Unread 07-16-2017, 08:36 PM   #7
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Default Re: Another Tesla thread...

I would lease but not because of the batteries.

^ I thought the same as Crash but did not have the balls to say what he said.
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Unread 07-16-2017, 10:51 PM   #8
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Default Re: Another Tesla thread...

Quote:
Originally Posted by kernal View Post
I don't think batteries will be an issue in that time frame. People worried about that when the Prius came out and apparently wasn't a problem for first or even second owners generally speaking.
Also as long as the lease term doesn't exceed the battery warranty, your covered.
I've leased several cars. Worked OK for me but it's not for everybody. Also some cars lease better than others. It's best when you catch a factory subventing the lease. Watch out for advertised leases that don't include mileage in the advert. Lot of them are for 10k annually. It's my understanding that the Tesla is thrilling to drive. I wouldn't want to be trapped in a situation where I couldn't drive it as much as I want.
Leasing is also a math exercise. Make sure you understand the true purchase price of the car and the residual value. Those two numbers with the lease term and lease rate determine the payments.

An opinion.
I fully understand the math exercise. From a finance perspective it makes more sense to purchase. The $7500 federal tax credit goes to the owner of the car. If you lease the leasing company gets the tax credit.

By leasing I'd essentially be paying for optionality. I figured my BGW brethren would have some opinions on the value of that option.

I think there is a lot more uncertainty in the residual value of a Tesla than there is in an ICE vehicle.
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Unread 07-16-2017, 10:59 PM   #9
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Default Re: Another Tesla thread...

The reason I suggested a lease is for financial reasons. To me (perhaps not to you) they are really expensive. If you have perhaps a two year lease you can get out of it then. If the thing loses 90% of its value after 2 years you can let it go. If you decide to purchase after 2 years it will have cost you more but you don't have the huge risk.
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Unread 07-18-2017, 11:09 AM   #10
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Default Re: Another Tesla thread...

Well there probably is more uncertainty in the residual value of the Tesla but the residual value is set at the lease origination. So it's the leasing company taking the hit if the value falls below the preset lease termination price. If you purchase the car then it's you (owner) taking the risk for it's value when you decide to sell.
It's my understanding that the factory was the leasing co. for the first Tesla leases and they were setting the residual value because there was no data on depreciation from ALG. So in effect they were guaranteeing the end of lease value --- essentially subventing. I understand they have stopped this so apparently there is enough data now to set "market" residual values.
Are other companies leasing Teslas other than the factory? (meaning it's captive finance arm).
So, if protecting yourself from an unforeseen residual value disaster is the primary concern then a lease is the only way to go because the value is set at lease origination with the leasing co. taking the risk. Problem is, as you know, if the guess at residual value is low compared to competing vehicles then the lease payments and total cost to you is relatively high. Unless they have changed the way leases work in the last few years.

edit: I see Tesla warranties the batteries for 8 years/unlimited mileage. So, unless you want to keep the car forever I wouldn't worry about failing batteries.
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