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dalton108

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Welp. This absolutely speaks to the demand for the truck being quite low.

I bought two different first year new generation Corvettes over the last decade (C7 in ‘14, and C8 in ‘21) and the idea that GM would need to pull any levers to juice sales during the first 36 months (let alone less than 12 months!) of production is laughable. The wait for my C7 was about nine months from order to delivery (during production), and for my C8 it was 18 months! From actual order, to delivery for my CB after production began was about 30 days. And that was in JULY (only eight months into production) demand was already starting to wane.

Supposedly, sales were going to “pop” once the non-foundation series was available. Never happened. Sure it’s the best selling EV truck but Ford can’t sell any and have ceased production until next year so all of that’s relative.

Many of us FS guys who were on here talking about how ‘you really, all things considered, only paid a $5000 premium to get the truck early’ seem to not know that people paid at least that (and sometimes in excess of 20 times that) to have the privilege of getting an early C7/C8 (and those were basically dealer mark-ups that got you absolutely nothing but the car).

Rivian forums are replete with Tesla owners joyously reporting that they’ve dumped their Teslas. Elon‘s antics have had an impact whether anybody wants to acknowledge that. WD and other Youtubers have had an impact as well.

The cost is too high and the range is too low. That seems to be abundantly clear, the market is speaking.

Again, personally (outside of my interests as a stockholder) this suits me fine. I’ve got mine and I don’t care if another single person ever buys one. I never wanted it to be affordable or popular. I love it and chances are it will be in my garage the day I die.

But, anybody that (at this point) thinks that this is going according to Tesla’s plan needs their head examined.
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scottf200

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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.
This lease option sure feels like a bad sign / indication for demand.
Other actions that feel like demand has lessened:
  • enabling the ability to transfer FSD to the Cybertruck
  • started deliveries in Canada
  • people without reservations can order one and get it delivered in days (< 1 month)
It is nice that there are enough Cybetrucks out that 3rd parties are starting to make various interior and exterior accessories.
 
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Mini2nut

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It will be interesting to see if leasing increases Cybertruck demand.

I predict the next move within the next 6 months is placing the more affordable RWD trim into production. It might appeal to many of the reservation holders that reserved a CT in 2019 at a way lower price point.
 

mongo

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suspect the “$7,500 down” is the tax credit pass through making this really zero down unless they are subsidizing the residual.
There is no point of sale credit for leases, nor for the Cybertruck itself. 30D vs 45W tax code.


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?
The leasing company gets the $7,500 and can choose to incorporate that into the lease terms (improved residual).
Commercial credit (45W) has no income limits. Non-commercial (30D) is the one with lots if restrictions.
 

canyoncarver

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There is no point of sale credit for leases, nor for the Cybertruck itself. 30D vs 45W tax code.



The leasing company gets the $7,500 and can choose to incorporate that into the lease terms (improved residual).
Commercial credit (45W) has no income limits. Non-commercial (30D) is the one with lots if restrictions.
I'm going to do another test drive today and see if any details on tax credit for leasees is available yet.

If I can get the $7500 tax credit as cap reduction, even if the interest is higher it's a no brainer for me... I'll just do cap reduction with my Model Y value and my lease payments would be about zero.
 


Wesleyhb

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What do you guys think of the new lease option for the CT? I know a lot of people who just don't want to own an electric car because of the gains in technology being made so rapidly and corresponding reduction in value of their used cars. Personally, I'm waiting for end of the 1st or 2nd quarter next year to buy my 2nd CT (bought/drove/flipped one this summer) when they do some rate/price reductions to pump some out to hit their numbers. Would any of you want to lease one? I also believe people like to customize their trucks and if you lease it you don't want to dump money into a wrap or accessories.
 

Wesleyhb

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I have a M3 lease right
that mileage... I'm already WELL over those limits lol
I have an M3 lease right now that I already paid off. It's through next December and I'm at about 13K miles of my 20K lease. FIgure by March I'll be at the limit and just give it back. Hoping CT has some kind of improved rates by then.
 

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This has me worried. Seems to be another data point confirming poor demand for the truck. If Tesla has demand/inventory problems, they might cuts prices to move inventory, and that could affect resale value for current owners.
 


cbr1000

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Is this really reflective of demand vs additional routine purchasing options in any vehicle? Most vehicles have lease options. If anything, this seems like a great deal for Tesla. Get someone to pay nearly $38,000 and only put 20K miles before they are required to return because there's no option to buy, and Tesla gets to resell it. Heck of a deal for them. Solid pass for me.
 

CyberPappy

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May be a dumb question but can you trade in a vehicle towards a lease like this?
 

Mini2nut

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OK “Skipper Club” members. Does the lease option entice you to place your Cybertruck order?
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