Leasing a Tesla? Here's What Happens When You Turn It In
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- Опубліковано 24 чер 2024
- These are some things to look out for when turning in a lease on a Tesla.
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Since he liked Tesla so much I suggested he look at a 22+ Model 3/Y used private sale. Private sale in AZ you don't have to pay sales tax and the new RYZN chip means updates will be coming for years to come. Also you don't have to buy a used private sale car in AZ. It can be anywhere in the US.
Just did a 2021 MYLR lease turn in. If you lease another vehicle with Tesla they will give to $500 off the damage fees. They will also waive the lease return fee whatever that is called. I leased a 2024 MYP.
Paid $27k to drive the car for 18k miles.
I paid $11k more and i keep my 2024 MYP.
Crazy to lease
Some people (like me) prefer leasing because we get cars too often for buying it to make sense. Since I got my license in 2017, I've had 10 cars. 2 were totaled (neither my fault). The rest were trade-ins to get something different cus I wanted something different. Due to this, leasing is likely the best option for me.
When and where did you buy an MYP for 38k?
$1.50 a mile ownership experience.
There is no way you paid 38k for a 2024 MYP.
He leased it when prices were much more inflated, and would have lost a ton on depreciation anyway. He should definitely buy in today's market though.
When your guest said the Hyundai ionic practically given away, I looked it up out of curiosity to see. Those things brand new are $46k with 260 mile range. A Tesla model 3 SR+ new is $38,990 with 272 mile range. Unless it’s an area difference, not sure but I would totally stick with Tesla hands down!
He’s referring to lease prices
Not with the lease cash and buyout. Research better. I’ve seen ioniq 6 prices come down to 31k with the lease special baked in.
If you want a more apples to apples comparison... compare the Ioniq 6 SE long-range MSRP $42k. RWD you get 361miles, AWD gets 316.
If you loved the car like you said you did, it's a no brainer....get the 24 m3 long range with the 7500 tax break....jeez you spend 22k to lease and get nothing when you can spend 37k and own da biatch
$300/mo to lease a 2024 Model 3 for 3 years. Or pay $600 to finance one, and half your monthly goes toward interest while fighting depreciation. I think leasing is currently the smartest play.
Cadillac lyriq if he leaves Tesla. We need a review of the lyriq Gjeebs (not your grandpapis Caddy)!
This video came at the right time. I was looking at Model 3’s over the weekend and the highland has such good lease deals. But then I found a 2023 Model 3 Performance with white interior for $31k so… trying to decide what to do as well
why so cheap?new is like $55K
@@xbrizzcakez
I have a 2023 Model 3 RW; the one year depreciation was 40%. EVs get a bad name especially because of non-Tesla EVs. The F-150 and Mach E owners are returning the cars because of the charging network. Also, it takes a long time to charge the huge batteries of the F-150. A used Tesla is a good buy as long as you DO NOT BUY A TESLA THAT WAS AN UBER LEASE (Hertz). Uber drivers always supercharge and can easily rack up 200 miles per day.
@@CasperChicago ok, I would like to join the EV world but the prices are very high, I own 3 cars outright so to save money on gas would create a big financial outage for me. I have been thinking used Model3, seems to make $ense ...
Buy the used M3P best performance/dollar ever.
Iwould wait. Might be able to get a new one later on this year for less than 2% interest
tell him to checkout the new model 3! its amazing
The dings were reasonably priced. I get wanting to try a new car brand but it’s such a great time for a Model 3 with the refresh this year.
For a second around town runabout, a lease return Bolt or Leaf can’t be beat for less than $20 K. Depreciation on these cars is terrible for the first owners. We live in the Pacnw, and have a Leaf for town use and an Outback for road trips.
used tesla model 3's have crazy good deals rn
Was replacing my MYP lease with M3R lease. I had error after error in the app to get pay off. I was then sent a bill of about 4K for wear and tear. Bad, bad customer support availability . It's a fatal attraction. I want to do everything to support Tesla but they make it so difficult
Thank you. I leased a 2024 Model 3 and it’s the first time ever leased. I also work from home so similar use. Did he still get some money back? In VA if the rear bumper damage was from someone else I’d have used my uninsured motorist coverage which has $200 ded if they are unknown and it would not effect my rates. Was not aware you might get money back?
unable to find the Rivian deal that was described. I checked California zip code and phoenix zip code with no luck
They charge for repairs, but they resale it with the same damage "as is". I just bought a used tesla coming from a lease, with scratches and damages, good deal but I guess because I accepted the tesla as it was. Got a tesla model 3 2021 with 28 tousand miles under 25k dollars. At he end after 4k tax credit savings, car ended up being 20500 +sales tax + registration +500 order fee.
I have a tucson 2022 but I dont drive it anymore... I love this used EV.
Yea that's the problem, they charge you but don't fix them. It's annoying
Bought from Tesla? If so that was a great price
@@dougmanck4149 Yes. It was bought from Tesla. I was constantly refreshing the inventory website. At 5:30 am I woke up, saw the car in inventory in grey color and bought it without hesitation!
They took the money just because lol.. leasing a Tesla ain't the business ow.. hopefully they give back the option to buy it out after
Great info and nice hat. Love Phoenix but oven comment is real. Surprised the glass doesn’t melt
The highest trim level Nissan Ariya Platinum+ can be had for $259/month for 2 years with $0 down for 24 months in Colorado.
Stay with the Tesla. The software difference is emense, between a Tesla and and other BEVs.
Crazy lease deals on Polestar 2 through Costco right now ($299/mo, $999 down 27mo)
New Model 3 Performance doggie!
Will leasing the rivian first then paying for it be wise if you do not qualify for the credit?
0 down and $99 a month on a new Nissan Leaf. 0 down $270 a month on Nissan Aryia Evolve. (Denver)
But they ain't a Tesla.. hit us back when you feel they give you the Tesla experience.. I would love to purchase another vehicle.. Tesla is the business
And you don't get the advanced tech that Tesla has. It's not always about the price for everyone. Some people want the advanced tech and software updates.
@@quickpstuts412 exactly!
John is a smart man. For day to day driving and in my case even for long distance. It is impossible for an ICE vehicle to compete on cost. Outside of road trips I never exceed 200 miles in a day. My Model Y is the lowest cost operation I ever experienced in a car, in 35 years of car ownership. I am not some environmental guy. EVs are just less costly, nicer, quieter, easy and pleasant to drive, very fast and just overall a superior product hands down to ICE.
My dad just traded in his Chevy Traverse for the new Chevy Equinox EV (leased it). Wanted a Model Y but the lease prices were still high. Tesla wanted $3K down for only 10K miles per year. Got the Equinox EV for 0 down and lower monthly payment than the Y. Dare I say that the Equinox EV has some better features than Tesla.
Tesla has new 3, RWD, demo, with less than 100 miles for $275 lease payment.
Mustang Mach E. Lots of deals now including on NEW 2023 models sitting on the lot if available in your area. Take a look at it.
Great updates, is Polestar an option? If not, get a Y
This week I drove the new Model 3 Highland. Assuming he is focused on a new car, and UNLESS your buddy needs an SUV or Truck... he has only 1 economic choice: the Model 3 Highland! If he needs an SUV for Family and Road Trips, the Model Y is the One to Get!
If he does reform his opinion to not drive the car on road trips, then AWD is great, otherwise as a local Phoenix commuter ONLY the RWD version would be stunning.
I've owned a Model Y LR for 52k miles over 2yrs-4mo as our primary car for all vacations and long road trips ... so I most certainly do not agree with the idea that they don't make gr8 road trip cars ... as long as it is a Tesla branded car, give availability of Super Chargers.
Used 2020 model y are under 30k, which is about the lease.
Another important factor on lease cost is insurance. The times I’ve leased they require a very high limit insurance so it ends up costing 50-70% more than insuring a regular financed car, that’s when I understood it was better to buy because the payment + insurance when financing was almost the same as the lower payment when leasing + more expensive insurance.
AND yet we’ve have a BMW i3 EV leased for coming up on the end of a 3 year lease with insurance being the same as our leased Lexus NX so….🤔
So I drove a Ioniq 5 Limited AWD for a bit, and it is very comfortable, but it’s steering is very light, even in sport mode, and it’s far more comfort oriented than sport oriented. I now drive the new Model 3. It has the level of comfort of the Ioniq but the steering and handling of the previous Model 3. But if you’re going for a Hyundai product, I recommend considering the Genesis GV60. These are also being given away relatively speaking, and they have much nicer features, and are also nicer to drive than the Ioniq 5.
ahhh yea that's a great call on the genesis. I had one for a week and it was great
Hey! I know both these guys! From that same Corporate America!
That's right baby!
whats the difference between leasing and renting?
There are some really good deals on the EV9 right now, might be worth investigating.
Stop pissing away your money just buy it
Elon spanks the leaser, he'll teach you next time to just buy it.
im returning my performance 3 thursday to pick up the new performance 3. previously leased all Mercedes and if you get another Mercedes they would waive mileage penalty. tesla says can not help with the mileage penalty but can wait return fee and last 2 payments.
Did you have Tint to remove? I’m wondering if they make you remove it before turning in.
@@briang896yes they charge for tint removal
I have leased cars many times and they always have given wear and tear that is allowed. Tesla is a lot more picky when giving the car back. Most car company’s have those disposition fees you are talking about. I would never lease another Tesla, but I would purchase from them. Great car , just not a fan of the Tesla lease.
Lets buy something nobody wants. Brilliant plan. Hope you like it forever...
Now you can buy a 2022 Model 3 with 40K miles for about $21K-4K tax credit, so about $19K out of the door。
I live in the mountains of Central Pennsylvania near State College. I bought the only used Tesla I have seen in two years last summer from the local Honda dealer. I'm always looking, and have not seen any since I bought mine.
Shout out PA!
Blue Knob auto which is close to you had a rwd model 3 a couple months ago for sale. Was priced to high imo.
See many Teslas in central Pa every day, even a cybertruck here in town
AND I bet you see tons of Trump signs everywhere out there😂 Direct correlation unfortunately😔
@@jimhimesjr I forgot about Blue Knob. I didn't see the model 3 you are talking about, but they did have a couple of model S Plaids a couple of years ago. Out of my price range. Haven't seen a Cybertruck in person yet.
Never liked leasing. I've keep my vehicles on average over 15 years. My present vehicle a Nissan Leaf is now 13 years old (still on the original battery). Problem with the Korean vehicles are that they are easy to steal (the insurance will eat you alive).
Model Y is good. Get a good deal on Ioniq 5 if you can but the best deal around feels like buying a Model Y outright. I bought mine at the wrong price in 2022 but at today’s prices, wow. Wow.
Who was the finance company that did the lease? Santander?
Ioniq 6 24 month lease for $179 a month with $1999 due at signing. Only $6300 to have the car for 2 years is pretty darn good.
Hertz Used is pretty hard to beat.
Used Tesla model 3 2022 or newer great deals on Tesla website
ioniq 5 is a great car. love mine.
Check out the EV9!!
Can't help but notice the panel gaps on the headlights.
Nothing is better than hybrids and plugins. around town.
No need for Tesla supercharger which will soon be crowded.
You don’t need 0-60 in 3 seconds for city driving.
No cold weather or range worries.
Much better quality and workmanship and easy service available.
No battery replacement worries much higher resale.
No flunk but still roomy.
Camry Prius rav 4 Corolla civic accord etc.
Actually cheaper than charging away from home no subscription needed.
Battery is much cheaper.
Stay away from hyandai Kia evs. They have ac charging issues. They don’t have an official fix for the issue yet. They just throttle charging speeds to 5kw to keep on board charging from overheating.
My ev6 is way better than my model 3 has 350miles range base model and has way better interior features than my 2022 model 3. Kia ev6 and ev9 🫡💯
@@butterfly-nikeonlinestore2980 range don’t matter if it can’t charge properly . This a known issue that Kia/Hyundai has not fixed yet.
Toyota bz4x has good lease right now.
looks like you shared the same shorts
Where does Tesla sell the lease returns? Thru the dealer or auction?
Only buy a used Tesla from Tesla 👈🏾 The prices are very close and they are not leased Ubers!
On the due at signing Rivian why taxes so high? Your state charges full tax on total vehicle price?
That's from Texas so maybe
WHY is the sales tax so high at the start of the lease, it should only be based on the monthly charges, something is very wrong here!
why not lease another tesla...also ask new lease if they got the same fees like disposition...maybe its new thing
I have to differ about the long distance driving and the '3 day weekend' being bad with an EV. This guy has kids. His ability to drive straight for 3 hours without the kids or wife wanting to get out to get some food/use the restroom is not gonna happen. At the 3 hour mark, no matter what he is stopping. Plugging in to charge and then using the bathroom/getting food will probably get him from 20% to 70% of charge. In that ICE car, he would have the same issues, BUT have to allocate time to get to a gas station with no line and then the time to pump the gas.
On a 3 day weekend trip, he may 'waste' 10 minutes with an EV compared to an ICE car. This goes to zero if they do not eat meals in the car.
Think I am wrong? Hop in an ice car. As you pull into the gas station, turn a stopwatch on. Do what you would normally do, and as you leave, turn the stopwatch off. It actually is a lot longer than you think.
And, kids love Teslas. The 30 minute re-charge time is actually a relief. Give the kids 5 bucks and tell them to be back in 30 minutes. They love it. And for Dad, a guilt-fee 30 minutes. Dig it.
I would look into the Nissan Ariya Platinum. Nissan really went all in on the build quality with the plush interior.
Does it still lack 1-pedal driving? That was a massive dealbreaker for me.
I don’t know much about leases. So did John get any kind of money back by driving less than the leased miles?
NO…that’s not a thing on leases that I’ve ever heard of and I’ve leased vehicles over 20 years.
Woah… Not sure I would have leased a tesla if I knew they would be this picky when you turn it in… Is it true they’ll make you take window tint off if you had it done?
Probably…you CAN’T modify a leased car. Think of a leased car as a rental. Care are depreciating assets anyway. Just drive the thing 2-3 years and get a brand new one. Let someone else pay for repairs, depreciation and battery degradation.
Leasing rarely makes financial sense for anyone. Even if you want to drive a new car every 3 years you're better off buying and selling over leasing.
$666 a month is what the real cost is on the R1 Jeebs references. Yes your only paying 24k but you divide that by 36 months and that is your true monthly payment. You just put a large down-payment is all.
My Y I put about 29000 for first year. (Not leased). And flip flops vs shoes with no show socks “old man style”…..flip flops win. Haha
I'd probably just stick with Tesla...not sure about the logic behind leasing a car. I guess it depends on each person...
How do you lease a tesla with 700+ credit and no down payment and is it possible to lease without proof of income,maybe a cosigner ?
They usually don’t ask for proof of income unless ur credit is really bad and even then they may just ask u to put a BIG payment down.
They don’t ask for proof of income. At least when I got my Model Y performance a few months ago they didn’t. A lease is like a rental, you don’t own the car so proof of income is not needed. Proof on insurance they do need though.
@@keymakerkeymaker3316 Did u buy or lease ?
What’s best, lease or buy?
buy used
The Tesla has a significant amount of wear for only 18,000 miles IMO
Tesla is the best ev and it is an American company.
gjeebs is driving an eqe?
I do my very best to stay out of debt and don't like subscription services either. Please explain why it sometimes makes sense to lease rather than to buy.
Your plan is good. It would be better to get a loan and pay about 80% of the price as a down payment.
As a business write-off. Otherwise, with the mileage restrictions and living out west, nah.
You could lease a RWD M3 3 times in nine years and that wold be about the cost of buying one and you would be driving a new model every 3 years and not worrying about anything ...
I live my life like you; but lease a model 3. It's the first lease (or even car loan) I've ever had. Reason I leased it was that I wanted to try an EV; but didn't want to risk getting stuck with it in the case of some massive technology improvements outdating the car. Computers evolve. My laptop now is WAY better than my laptop from 4-5 years ago. My logic was the car will be similar.
For me, leasing was about "risk management" rather than saving money.
@@willywonka2164 Computer years go by faster than dog years. And I guess there's no wrong way to get a Tesla. 🙂
Tesla will be bringing back Buyout again in the future. Trying to shame folks for getting what their pockets can’t afford is krazzy !
Tesla’s are the best
Do you guys share the same short shorts?
Yea we trade
Buy a Tesla ❤drive it 200,000 miles and save money and don’t worry about nicks and scratches to pay for- buy a Tesla Model 3 LR in inventory with the $7500 tax discount and inventory discount
Cant believe they charged so much for the bumper damage! That should have been normal ware and tare! Hell especially since the milage is so damn low!!!
If you stick with a Tesla they typically have offers to eat up some of the damage fees or excess milage. I turned in my Model Y performance last week and paid for excess milage and a curb rashed wheel. Ultimately, I switched to a Rivian R1T lease and love it even more than the Tesla. They each have their issues but the Rivian feels more premium and rides better.
@CyJervis. They were going to give me a $500 W/T exception. They didn't come up with the actual final bill on excess mileage and "disposition fee" until 2 weeks after I turned the car in. Not a great experience. Did the same with MYP and switched to a Rivian R1S. Couldn't agree more.
@@scj760 Yeah, I took the pictures but they never reviewed them before I turned in. The next day they billed me.
It better feel nicer, it's much more expensive.
@@novaguy9767 If I compare it to what I was paying on the 2021 Model Y performance lease, it isn’t that much more. That being said, I could have saved monthly on a new Model Y performance lease but there were other factors behind my decision. I wanted to get back into a truck and the CyberTruck is just too far out there for me. That and Elon’s unpredictability and propensity to bring the wrong kind of attention to tesla.
@@CyJervis The Model Y was pretty expensive before the price drop and quite frankly not worth it. Now it's much better value and more in line with it's place int the market.
I've never met anyone that actually cares what Elon does - only on the internet.
uhh if you are satisfied with tesla model 3, i wouldve jumped on the model y 0.99% financing deal, but yes, no lease. I got myself a model y performance in quicksilver with 12500 total credit & rebate with 0.99% interest rate financing. can't beat that.
Is that still available?
I got .99 on model y in may and 7500.00 tax credit in California . How did you get 12500.00 rebate ?
@@soulsurf80 colorado has 5000 rebate
@@gregoryhoward5811 no more 0.99
@@straden79 wow
Can you buy the Rivian after lease?
Yes
I'll lease an Ioniq 6 until the R2 or R3 come out (yes, I know the R3 won't be coming until like 2028 the earliest)
audio sounds strange
Hyundai ioniq 6 has good deals!
Guess it would be a good idea to read that contract you signed when you leased the car, it clearly states the buy out and damage fees. Sounds like senseless whining....
Get a rivian or ford mustang mach e
Him leasing a Tesla again is probably going to be better since it gives him more car tech and charging options over others. But since he's not using it for long distance travel the the charging network might not matter. The question is can he lease an Ioniq 5 and simply charge at home since he's not putting that much milage on his vehicles. It's just the Tesla has better software and features and even security. If he leases the right one he may also qualify for the tax credit. There aren't to many others worth the hassle to be honest. I think the Ioniq 6 is a solid runner up to a Model 3.
That money (disposition fee) goes to a completely separate entity...
who gets it?
“Anywayz” 🤔
I really don’t see the problem here. The wheels are looking very used especially for a car with 18K. The paint scratches are quite visible….So I am not sure what the problem is. The damage seen is more than expected for an 18K vehicle.
From a M# to a Ioniq5? I don’t think you will like it…
Agree…WTF is up with scratching the wheels like that with 18K miles? We’ve got 23K on our BMW i3 at the end of our 3 year lease with not one wheel scratch.
Just buy the car.
Not EVs...
Tesla doesn’t allow you to buy out the car. Which every other manufacturer allows this buyout.
Tesla lease can't be bought out anymore for cars bought after a certain date
@@kennordsfan1494 I think he means to buy instead of lease, but ya
Leasing can be better especially in a state with high sales tax. If you can negotiate a low cap cost and get a low interest rate, it’s a sweet deal.
Every lease has a disposition fee unless you lease another vehicle from them.
He might as well buy a new Tesla model 3 with the incentives that are going on right now.
Wait a minute, so you're friends with Vin Diesel ?
Lol 18,000 miles in three years and payed over 20k. That's a bad financial decision. Not to mention the high cost of insurance on Tesla's. Should've just financed it and kept it until the wheels fall off.
Exactly buy a car and keep for over 10 years and get your money worth
If you're using the vehicle for business, you can write that off as an expense.
@@sonovabeach Thanks H&R Block, wasn't aware of that. You still have to earn that amount to be able to make the payments and write offs are just there to lower your tax bill.
Not like you're going to get all that returned to you.
@@maxvel7157 Roger. I'm guessing there is a reason leasing exists though. Businesses use it frequently. There must be a monetary reason or businesses would not use it.
Looks like someone upgraded to an EQE
Yeah nope, I’ll stick with a low mileage Chevy Bolt for less than $20K before any rebates.
I would consider a 2024 ID4
As long as it’s the refreshed ionic 5, that’s a solid choice
How much was the vehicle new? He have $34k in the vehicle and now handing them the keys back, oh no, lol
The Tesla lease deal is terrible for someone like him. With low miles, many less than most leasees, if he could have had the option to buy it it might have made sense. Of course Tesla values have collapsed, but the lease with no buy out option is a bad deal.
He can still buy the thing when it goes on sale. Heck our BMW i3 lease is up in a couple months but the residual is high 20’s. You can buy a low mileage i3 for high teens so…no way in hell I’d buy the car. Plus I want a Tesla. The BMW i4 lease is like 3-4 grand down…maybe more or around $650 a month with nothing down, which is what I do. Why give a car company money up front? You end up paying the same amount.
@@Skyking6976, sure, but one of the big benefits of leasing is the buyback at the predetermined residual. It may not matter now as the price is likely lower, but in general leasing is a worse deal without the option.
@@rickmcdonald7075 Good points.. Also, Tesla doesn't provide you a copy of their current lease agreement for review until they have pocketed your non-refundable order fee! Tesla advisor, I contacted, stated that it's the sole responsibility of the lessee to pay in full the difference owed -- contingent on the average (taken from carvana, kbb, etc.) of the then market value of the vehicle -- upon maturity of the lease.