Cybertruck lease rates now available for U.S. ($0 down / $7,500 down) -- [ADMIN WARNING: NO POLITICS]

[stumby]

Tesla has announced Cybertruck leasing rate in the U.S.

https://www.tesla.com/cybertruck/design#overview

AWD with $0 down:
• 36 month: $1,249/month
• 24 month: $1,568/month

Cyberbeast with $0 down:
• 36 month: $1,439/month
• 24 month: $1,715/month

AWD with $7,500 down:
• 36 month: $999/month
• 24 month: $1,199/month

Cyberbeast with $7,500 down:
• 36 month: $1,204/month
• 24 month: $1,368/month

-Vehicle must be returned to Tesla at end of lease (no option to purchase)
-10k miles per year, 25 cents a mile for every excess mile driven
-Taxes and fees not included

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[cgoats21]

I never understood the point of leases especially one as pricey on this. Since they started offering leases, perhaps financing deals will be next.

 

[canyoncarver]

I never understood the point of leases especially one as pricey on this. Since they started offering leases, perhaps financing deals will be next.

You are paying 45% of the cost of the truck to drive it for three years. You are protected against future versions of the product or future price cuts reducing that resale value. I bought my Model Y two years ago and Tesla immediately and drastically reduced resale price and tanked the used value of my expensive car.

If the truck has a lot of QC issues then you are also protected against that as you can just walk away at the end.

55% resale value on a product like the CT, including all financing is actually quite good.

Likely this will be followed by a cash/finance purchase discount price sometime around the holidays to further boost sales.

 

[canyoncarver]

I never understood the point of leases especially one as pricey on this. Since they started offering leases, perhaps financing deals will be next.

Final point is that $1249 is not "pricy" to someone who was going to do traditional financing on the CT with little money down... which sadly is how MOST people finance automobiles, even expensive ones. On a five year loan at 5.9% interest the CT is $1349 a month IF you pay all taxes out of pocket and IF you put another $10,000 cash or trade down.

To someone making say $200K a year, $1249 of monthly out of pocket expense for transportation is not unreasonable.

 

[mongo]

I never understood the point of leases especially one as pricey on this. Since they started offering leases, perhaps financing deals will be next.

Leases qualify the lessor for the $7,500 commercial credit. That can flow through to lower payments over the term.

 

[cybertruckwaldo]

Tempting to swap over to the beast ?

 

[carsly]

suspect the “$7,500 down” is the tax credit pass through making this really zero down unless they are subsidizing the residual.

 

[CyberGus]

 

[Mini2nut]

The Cybertruck demand lever has been pulled after just 11 months of production. I knew something was coming down the pike soon to increase demand.

Remember, leasing = renting. You are basically paying for vehicle depreciation every month plus a money factor (interest). You walk away at the end of a lease and own nothing.

Bargain shoppers will be able to pickup a used 2024 lease return in late 2027 for roughly $50k. Those in the Skippers Club rejoice!

Lease details:
-Vehicle must be returned to Tesla at end of lease (no option to purchase)
-10k miles per year, 25 cents a mile for every excess mile driven
-Taxes and fees not included

 

[canyoncarver]

Leases qualify the lessor for the $7,500 commercial credit. That can flow through to lower payments over the term.

That's a good point I had not considered. I do not qualify for the normal $7500 tax credit.... is Tesla doing the $7500 commercial credit in the lease terms that would bypass the normal income cap for the tax credit?

 

[CarMan ElecTruck]

Would be nice to have option to buy at end of term..

 

[canyoncarver]

The Cybertruck demand lever has been pulled after just 11 months of production. I knew something was coming down the pike soon to increase demand.

Remember, leasing = renting. You are basically paying for vehicle depreciation every month plus a money factor (interest). You walk away at the end of a lease and own nothing.

Bargain shoppers will be able to pickup a used 2024 lease return in late 2027 for roughly $50k. Those in the Skippers Club rejoice!

Lease details:
-Vehicle must be returned to Tesla at end of lease (no option to purchase)
-10k miles per year, 25 cents a mile for every excess mile driven
-Taxes and fees not included

It's still a great deal if you wouldn't otherwise qualify for the tax credit.

While quite a few people use leasing as a method of driving a more expensive vehicle than they could otherwise afford, there are also those who could pay cash for the vehicle but choose leasing for the financial flexibility it offers as well as protection against future hits to the value of a rapidly depreciating asset.

I paid cash for my Model Y and was planning to do the same when I got a CT next year, but this makes things extremely attractive... I could use trade in value of the Y as cap cost reduction and I would effectively be able to lease a CT for three years for nothing and just invest my money instead.

 

[Fallenhero]

FINALLY!!!!!

 

[SentinelOne]

Downside of lease is mileage cap - I have 10k miles on the truck since June! It's so awesome to drive! In comparison I have a 16 GMC2500 with 80k miles! Basically I didnt ride my street bikes most of summer because I was so infatuated with the CB!

At least this is another option for someone to experience how awesome this thing is!!!!

 

[canyoncarver]

Downside of lease is mileage cap - I have 10k miles on the truck since June! It's so awesome to drive! In comparison I have a 16 GMC2500 with 80k miles! Basically I didnt ride my street bikes most of summer because I was so infatuated with the CB!

At least this is another option for someone to experience how awesome this thing is!!!!

Legitimate concern but as I only drive 5,000-7,500 miles a year not a concern for me personally.

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