Lease Now Or Wait Until End of Q1?

[somerandomguy]

Never owned a Tesla - as I'm digging around it seems there are typically deals at end of quarter that are worth waiting for. Can anyone attest to end of march being worth it to wait to purchase?
Looking to lease a beast through my LLC and utilize $7500 credit. From what I've asked owners between buying in cash and leasing for previous Teslas, most wished they had leased in retrospect so going that route. Not interested in financing at current rates (even though leasing puts at 11% rate - I'm gambling on the bet that when lease is up there's a refresh of some type of CB, new quad motor version or something.

So that's where I'm at. My taco is just fine currently and not in a rush to buy but if there's not a significant point in waiting (historically), gonna go ahead and get in one now.

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[ABILISK]

End of quarter will probably be beneficial, yes. As far as a refresh, I’d say there’s an extremely low chance of seeing one in the next 3 years. Even 6 years I’d say probably not, so I wouldn’t lease in hopes of that. If I was in the market for one today I’d wait until after St. Patty’s Day then buy outright.

 

[Trbizwiz]

Plan to wait until the end of quarter, but track it closely. Also, shop inventory trucks in your region. CB beast should have around $5k off. If you lease, you automatically get the $7500 as the lease is a commercial EV purchase for the bank, so it’s not beholden to income limits or sale price. You can accelerate the lease buyout, after about 2 to 3 weeks. That’ll eliminate that 11% interest built in to the payments.
As to refresh, Tesla likely won’t refresh CT anytime soon, but they will upgrade it. They’ll improve the battery pack, with no notice, and they’ll upgrade the AI system, and other things. You could always wait for the newest truck. But I do think March will present some great value opportunities. Here’s the cheapest CB in my region. It includes a $5000 discount, plus the $1000 referral bonus. If you lease it you’ll also benefit from the $7500 commercial ev credit as well.

 

[iCeMaNxLb]

would you suggest putting down any $ at all for the lease? wonder why it defaults at $7500 down which is the same amount as EV credit. But I heard many times to put $0 down unless you plan on really doing the buyout?

 

[Willinak]

Plan to wait until the end of quarter, but track it closely. Also, shop inventory trucks in your region. CB beast should have around $5k off. If you lease, you automatically get the $7500 as the lease is a commercial EV purchase for the bank, so it’s not beholden to income limits or sale price. You can accelerate the lease buyout, after about 2 to 3 weeks. That’ll eliminate that 11% interest built in to the payments.
As to refresh, Tesla likely won’t refresh CT anytime soon, but they will upgrade it. They’ll improve the battery pack, with no notice, and they’ll upgrade the AI system, and other things. You could always wait for the newest truck. But I do think March will present some great value opportunities. Here’s the cheapest CB in my region. It includes a $5000 discount, plus the $1000 referral bonus. If you lease it you’ll also benefit from the $7500 commercial ev credit as well.

So, there is so much mis-information re the actual lease buyout. Is there a penalty for an early buyout...30 days or so after sale? If so, what is the total cost to lease, then buyout in 30 days?

 

[TexasRaider]

I Always wait until the end of the qtr or year. (There is a chance for random perks.)

 

[CyberDysan]

So, there is so much mis-information re the actual lease buyout. Is there a penalty for an early buyout...30 days or so after sale? If so, what is the total cost to lease, then buyout in 30 days?

I am doing that now. I can post screenshots of everything when I am finished. I leased at the beginning of February. So have have all those numbers. Just today, Chase finally loaded my lease into their system. Now I am finally able to get a lease buyout. They give me the number online, just need To call them to get the instructions for some reason.

 

[Willinak]

I am doing that now. I can post screenshots of everything when I am finished. I leased at the beginning of February. So have have all those numbers. Just today, Chase finally loaded my lease into their system. Now I am finally able to get a lease buyout. They give me the number online, just need To call them to get the instructions for some reason.

That’s awesome, thanks!

 

[CyberDysan]

Here is the complete breakdown. The Payoff of $77,767.31 includes $4,769.66 NJ sales tax.

I am about to call Navy Federal for an auto refinance loan, 4.79%. I just don’t know exactly what to do. Do I do the lease buy not now (payments will be roughly $1245/month x 72 months = ~$89,640), or just continue with the lease and turn in at the end ( roughly $36,000 plus turn in fee) then get another one in 3 years…….

and to clarify I did the 0 down lease, only had the $7500 lease incentive basically as the down payment. I had to pay $4251.52 at pickup. You can see all the fees etc below.

Lease buyout number from Chase, includes $4,769.66 in NJ sales tax

 

[Willinak]

Here is the complete breakdown. The Payoff of $77,767.31 includes $4,769.66 NJ sales tax.

I am about to call Navy Federal for an auto refinance loan, 4.79%. I just don’t know exactly what to do. Do I do the lease buy not now (payments will be roughly $1245/month x 72 months = ~$89,640), or just continue with the lease and turn in at the end ( roughly $36,000 plus turn in fee) then get another one in 3 years…….

and to clarify I did the 0 down lease, only had the $7500 lease incentive basically as the down payment. I had to pay $4251.52 at pickup. You can see all the fees etc below.

Lease buyout number from Chase, includes $4,769.66 in NJ sales tax

Thanks so must my concern.ch! Line item #12 is my main concern, as I would buy out early.

 

[Gigahorse]

Never owned a Tesla - as I'm digging around it seems there are typically deals at end of quarter that are worth waiting for. Can anyone attest to end of march being worth it to wait to purchase?
Looking to lease a beast through my LLC and utilize $7500 credit. From what I've asked owners between buying in cash and leasing for previous Teslas, most wished they had leased in retrospect so going that route. Not interested in financing at current rates (even though leasing puts at 11% rate - I'm gambling on the bet that when lease is up there's a refresh of some type of CB, new quad motor version or something.

So that's where I'm at. My taco is just fine currently and not in a rush to buy but if there's not a significant point in waiting (historically), gonna go ahead and get in one now.

If you are driving a Taco you likely have another 200,000 miles to make a decision.
There is a ton of inventory and with that and other factors my guess is there will be some pretty juicy end of quarter incentives. So if you have a vehicle that is good to go already you are basically asking if it is worth missing out on $1-$10k in incentives vs getting the truck a month early?
Most would say don't wait a year, but maybe worth waiting a month.

 

[iCeMaNxLb]

Here is the complete breakdown. The Payoff of $77,767.31 includes $4,769.66 NJ sales tax.

I am about to call Navy Federal for an auto refinance loan, 4.79%. I just don’t know exactly what to do. Do I do the lease buy not now (payments will be roughly $1245/month x 72 months = ~$89,640), or just continue with the lease and turn in at the end ( roughly $36,000 plus turn in fee) then get another one in 3 years…….

and to clarify I did the 0 down lease, only had the $7500 lease incentive basically as the down payment. I had to pay $4251.52 at pickup. You can see all the fees etc below.

Lease buyout number from Chase, includes $4,769.66 in NJ sales tax

Thanks for posting this! I must be blind but what’s the money factor?

And line #12 what’s the early termination fee if you did a early buyout?

 

[CyberDysan]

Thanks for posting this! I must be blind but what’s the money factor?

And line #12 what’s the early termination fee if you did a early buyout?

My money factor was 0.0038800. I have a screenshot, I just need to find it.

I believe the termination fee was like $150. Its on line 14. That's a Chase fee. Based on the number they gave me. It doesn't look like they will charge a huge early termination fee.

 

[CMK]

Here is the complete breakdown. The Payoff of $77,767.31 includes $4,769.66 NJ sales tax.

I am about to call Navy Federal for an auto refinance loan, 4.79%. I just don’t know exactly what to do. Do I do the lease buy not now (payments will be roughly $1245/month x 72 months = ~$89,640), or just continue with the lease and turn in at the end ( roughly $36,000 plus turn in fee) then get another one in 3 years…….

and to clarify I did the 0 down lease, only had the $7500 lease incentive basically as the down payment. I had to pay $4251.52 at pickup. You can see all the fees etc below.

Lease buyout number from Chase, includes $4,769.66 in NJ sales tax

Thanks for posting this. I wish this was an option for me as a way of taking advantage of the tax credit without qualifying for it, but having to pay sales tax on both the purchase price and the residual value in Texas negates any of that benefit.

 

[CyberDysan]

Thanks for posting this. I wish this was an option for me as a way of taking advantage of the tax credit without qualifying for it, but having to pay sales tax on both the purchase price and the residual value in Texas negates any of that benefit.

Now I am confused too. lol I already paid $1218.90 in tax at time of lease and now they are charging me $4769.66 additional. I think they make this stuff confusing for their amusement.

The reason I did the lease is bc I dont qualify for the $7500 on purchase

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