SW17LS

Really?!? That surprises me. Aren’t you worried about all the things you have posted are a worry?

Case in point, my mother in law is visiting. We were talking at dinner about how I am seriously considering getting an EV and her response was like horror or disgust, “I would NEVER buy an electric car”. I just don’t get it.

swajames

"I'll take things that aren't going to happen for $800, Alex"

Bob04

You shouldn't be surprised. I stated that here before. Don't ever remember saying I would never purchase an EV.

And yes, I am worried about all the things I have posted about because they are real risks and have to be planned for financially for anybody that plans to keep it for a longer period of time. And the calculus on new vs slightly used is different.

SW17LS

Your posts about EVs are constantly negative…hard to believe an EV would be your next purchase.

mmarshall

Here's some real video-winners from the Tesla self-driving system, in an article about the lawsuits. I didn't think it needed a new thread, because we already have enough Tesla threads going on the subject.

The Washington Post has a paywall, but will often allow you to free-access once or twice if you are not a subscriber.


https://www.washingtonpost.com/techn...pilot-lawsuit/

LeX2K

Only way I can read the article is sign up which I won't be doing. Not technically a pay wall but a sign up wall.

SW17LS

I have a subscription to the WP, let me know if there’s an article you would like me to post the body of.

jrmckinley

So, I'm kinda contemplating something here. My 21 MYP is paid off and in my local area it looks like people are asking somewhere in the mid $30k range for my exact car within about 2-3k miles of mine. I can't tell if these have FSD like my car has, but I'm kind of thinking I should be able to get around $35k for my car if I sold it (Tesla trade in last time I looked was horrific so I won't do that).

I didn't think Tesla leased the Model S, but thanks to this forum educating me on it.. I could lease a Model S (not Plaid) in the color and wheel combo I want and put $2,500 down and do 15k miles/year for 3 years for about $1,050/month. So basically if I pulled the trigger with these numbers, the cash I get for my MYP would completely pay for the lease of a Model S for 3 years.

There are other EV's that intrigue me (BMW i5, i7, maybe the EQS sedan) but as stupid as it sounds I don't want the minor hassle of having to switch out my Tesla wall charger at home and those brands aren't building cars with the Tesla charger until next year.

I'm not sure I'll do this, but my wife is the one planting the seed. She is "OK" with the MYP, but she loves the S and she'd definitely be open to something like the BMW. Any other ways I should be thinking through this?

swajames

That 1050 must be after including probable gas savings, 2500 down on an unoptioned Model S runs to 1157 with 2500 down. It's not clear if Tesla passes on the commercial tax credit its leasing company will receive on a Model S lease.

Regardless, that totals the best part of 45K for the three year lease on a 66K MSRP Model S. You're quite possibly better off buying it. I'd at least explore that before committing to 45K in lease payments.

jrmckinley

You're right, my mistake. It is $1,197/month. $73k is the purchase price, I believe it would be $77k with the upgraded wheels. So you are right again in the sense that the lease payments for 3 years would be about $42k, which would be somewhere around 56% of the purchase price. Not sounding so great when I think about it that way.

SW17LS

When you factor in the potential downside risk of the deprecation the lease makes perfect sense.

AMIRZA786

I think that all depends. Is he planning on changing cars in the next 3 to to 5 years? Than leasing makes perfect sense. But if he was like me who would be keeping it for 10 years and passing it down, than buying it makes more sense

SW17LS

Thats true of any car lease. If you’re going to keep it you’re almost always better off buying it from the get go.

If he were looking long term I doubt he would be considering leasing at all.

swajames

agreed, my point was mainly the closer your total payments get to your purchase price the more the lease/buy calculation will skew towards buy. In this case the chances that a 73K Model S would depreciate to 28K in three years are reasonably low. With subvented leases (which Tesla doesn't really do) it's generally going to skew towards leasing.

SW17LS

I could see that depreciation for sure. For one you don’t know if Tesla may cut prices again. $28k on a $77k MSRP is 37%. Both my LS460s depreciated to about that after 3 years, not quite that but 40-44% just FYI…