Sponsored

koolio

Well-known member
Joined
Dec 4, 2024
Threads
3
Messages
1,046
Reaction score
1,104
Location
Greater Boston, MA
Vehicles
2024 Cybertruck, 2024 Model 3 (former: 2020 Model Y)
Country flag
Tesla won’t allow $0 down. You have to pay all the taxes and fees and first month so the lowest is basically $3000-$4000 depending on the state.

As for the $500 referral, kiss that goodbye. I used a referral code from a friend and since I was a former Tesla owner (last owned a Y in 2022) they did not count that as a referral and didn’t give my friend the $1K (what it was back in Nov/Dec) bonus. You are not a new Tesla owner so the referrer gets squat.
Good detailed point about being specific when people say “$0 down” on a lease. When this is stated, it is normally meant as: ‘$0 capitalized cost reduction’. The bank always requires the first mont, taxes, fees, etc. to be paid. That said, you can always ask (and banks do this) to have all of these fees rolled into the lease (I would not recommend it bc then you’re paying interest on it).

+1 to the Tesla referral discount. Tesla will just change yours to a ‘loyalty’ discount, not a ‘referral’ discount…and they won’t tell you. This happened to us when I literally convinced my wife to upgrade her 2021 3 to the 2024 version back in October.
Sponsored

 

JerseyMike

Well-known member
First Name
Mike
Joined
Oct 24, 2024
Threads
4
Messages
196
Reaction score
240
Location
NJ
Vehicles
2024 Cybertruck AWD with AS tires, 2022 Cadillac Escalade
Occupation
Physician
Country flag
Good detailed point about being specific when people say “$0 down” on a lease. When this is stated, it is normally meant as: ‘$0 capitalized cost reduction’. The bank always requires the first mont, taxes, fees, etc. to be paid. That said, you can always ask (and banks do this) to have all of these fees rolled into the lease (I would not recommend it bc then you’re paying interest on it).

+1 to the Tesla referral discount. Tesla will just change yours to a ‘loyalty’ discount, not a ‘referral’ discount…and they won’t tell you. This happened to us when I literally convinced my wife to upgrade her 2021 3 to the 2024 version back in October.

agree, I mean't 0 down not $0 first payment....i actually ended up putting a little bit down ($14xx) just to harvest some of the taxes (not sure it matters but the trade reduces the taxed amount)...also to get a round number back as a check from my equity in my trade

first payment is another couple thousand to cover reg (NJ requires 4 years pre-paid with EV use tax and other lease fees as well as the first payment)

overall not bad deal as the monthly payment was within a few dollars of the initial tesla estimate.
 

JerseyMike

Well-known member
First Name
Mike
Joined
Oct 24, 2024
Threads
4
Messages
196
Reaction score
240
Location
NJ
Vehicles
2024 Cybertruck AWD with AS tires, 2022 Cadillac Escalade
Occupation
Physician
Country flag
That’s correct about putting $0 down on a lease. I’ve leased a lot of cars in the past.

For the CT lease, you may want to buy it out sooner than later due to the high interest rate (at least they were high last time I saw someone post the rates a few weeks ago). To calculate interest, get there money factor (aka rent charge) and multiply it by 2400.
Are you sure it is 2400 x money factor

lease money factor is 0.0028900

that makes interest = 6.936% which seems pretty good to me
 

voxel

Well-known member
First Name
Nelson
Joined
Nov 28, 2024
Threads
0
Messages
64
Reaction score
65
Location
Florida
Vehicles
24 AWD Non-FS, Ford Bronco, Ford Mach-E
Country flag
Are you sure it is 2400 x money factor

lease money factor is 0.0028900

that makes interest = 6.936% which seems pretty good to me
That sounds right. The old MF was 0.00545 back in late Nov then Tesla dropped the rate a week later then dropped again last month. To me, it makes the early buyout less tempting.
 

Mini2nut

Well-known member
Joined
Apr 2, 2020
Threads
138
Messages
4,081
Reaction score
7,404
Location
Planet Earth
Vehicles
*Tesla MYP *SAWD Cybertruck ordered 2/20/26
Country flag
Was Tesla the "anonymous" donor of 10 Cybertruck's to the Las Vegas police department recently?

If all of the VIN's indicate 2024 models (R in the tenth digit) I would venture to say yes. It's one way to get them off the accounting books.
 


JerseyMike

Well-known member
First Name
Mike
Joined
Oct 24, 2024
Threads
4
Messages
196
Reaction score
240
Location
NJ
Vehicles
2024 Cybertruck AWD with AS tires, 2022 Cadillac Escalade
Occupation
Physician
Country flag
That sounds right. The old MF was 0.00545 back in late Nov then Tesla dropped the rate a week later then dropped again last month. To me, it makes the early buyout less tempting.
agree, financing the early buyout amount will probably amount to a similar interest rate


btw took the truck home and it is amazing, loved the lightning but this is on a different planet, feel like Batman driving it home
 

koolio

Well-known member
Joined
Dec 4, 2024
Threads
3
Messages
1,046
Reaction score
1,104
Location
Greater Boston, MA
Vehicles
2024 Cybertruck, 2024 Model 3 (former: 2020 Model Y)
Country flag
Are you sure it is 2400 x money factor

lease money factor is 0.0028900

that makes interest = 6.936% which seems pretty good to me
Yes, that’s how to convert it.

So, Tesla has lowered the MF compared to 1-2 months ago. That’s good.

I believe finance rates from Tesla (ie ChSe, Wells Fargo, etc) are around 5.89-5.99%. At least, that’s what they were in December.
 

Outdoors

Well-known member
First Name
Outdoors
Joined
Nov 19, 2019
Threads
17
Messages
1,883
Reaction score
3,472
Location
North West Montana
Vehicles
S,3,Y,CT,CT(holding pattern) Slate is back on
Was Tesla the "anonymous" donor of 10 Cybertruck's to the Las Vegas police department recently?

If all of the VIN's indicate 2024 models (R in the tenth digit) I would venture to say yes. It's one way to get them off the accounting books.
Ben and Felicia donated them. They help out in Vegas often. Notice how you go post this trash on multiple threads. Still can't get one?
 
  • Like
Reactions: CMK

koolio

Well-known member
Joined
Dec 4, 2024
Threads
3
Messages
1,046
Reaction score
1,104
Location
Greater Boston, MA
Vehicles
2024 Cybertruck, 2024 Model 3 (former: 2020 Model Y)
Country flag
Ben and Felicia donated them. They help out in Vegas often. Notice how you go post this trash on multiple threads. Still can't get one?
Who are Ben and Felicia?

Just curious as I have family who have lived in Vegas since the mid 90s, and I still go back a few times a year.
 


FLlovesCyberTrucks

Well-known member
Joined
Feb 1, 2025
Threads
4
Messages
45
Reaction score
71
Location
Boca Raton, FL
Vehicles
Cybertruck
Country flag
Last edited:

Mini2nut

Well-known member
Joined
Apr 2, 2020
Threads
138
Messages
4,081
Reaction score
7,404
Location
Planet Earth
Vehicles
*Tesla MYP *SAWD Cybertruck ordered 2/20/26
Country flag
Headed to Vegas in April and will keep my eyes peeled. Very cool patrol vehicles!
 

iCeMaNxLb

Member
First Name
Andy
Joined
Feb 20, 2025
Threads
3
Messages
18
Reaction score
7
Location
Orange County, CA
Vehicles
Model Y and Model X
Country flag
another nice thing....got the $500 credit...it worked
so you created an account for your wife, referred her, and ordered the CT through your wife's new account to get this? then plan on moving it to your own account later?

i'll need to do this too
 

JerseyMike

Well-known member
First Name
Mike
Joined
Oct 24, 2024
Threads
4
Messages
196
Reaction score
240
Location
NJ
Vehicles
2024 Cybertruck AWD with AS tires, 2022 Cadillac Escalade
Occupation
Physician
Country flag
so you created an account for your wife, referred her, and ordered the CT through your wife's new account to get this? then plan on moving it to your own account later?

i'll need to do this too

Yes, I asked the SA first and he said that I can refer to spouse even though same household and that since she didn't own a Tesla in her account (was only a driver) it worked.

best part is I was able to put the registration and ownership under my name from her app login and do the whole purchase that way so no need to transfer it to me.....only down side is in the app it is under her with me as a driver but I still get pretty much the same settings (other than adding additional drivers)
 

Chad49

Member
Joined
Mar 23, 2024
Threads
0
Messages
6
Reaction score
5
Location
Irvine CA
Vehicles
Model S (2018); Model Y (2024); CT RN112770742
Country flag
The extreme 20% on both sides make the most noise which the media gladly magnifies. Common sense Americans who have both empathy for their neighbor and responsibility to their family are the quiet majority who understand Elon is not the problem but bringing to light the problem. I am more likely to support him more than in years past.
Sponsored

 
 








Top