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

[BlueLightning]

AWD with $0 down:[/B]
• 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

But again poor states don’t get lease options. Only the following states…

Tesla leasing is currently available in AL, AK, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NJ, NM, NV, NY, OH, OR, PA, RI, SD, TN, TX, UT, VA, VT, WA, WV, WY.

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[RonSol]

Yes it does

 

[eswimm]

There's always somebody complaining in some forum that their 1 year old car has depreciated 30% for trade-in. If you fit within the mileage limits and you don't want to own a depreciating asset, then a lease is a good option. That AWD lease with $7,500 down looks pretty good.

 

[eswimm]

I'm trying to imagine what the lease turn-in inspection looks like....

Any bullet holes larger than a quarter...

 

[canyoncarver]

Little more information after my test drive and brief discussion today on the leasing details;

• There is a $7500 tax credit built into the lease, however the prices shown with the $7500 down payment ($999 a month) already take this into the account. So it is effectively $15,000 of cap reduction.
• Money factor .0054 for this offer which works out to a whopping 13% APR.
• Max down payment allowed on the lease is about $13,000 which works out to a monthly payment of $650-$700 a month depending on taxes, etc.
• In my state, the state tax credit ($2500) does not apply to leases.

So this is a little less attractive due to the high money factor and inability to pay for more cap cost reduction with a bigger down payment.

It still might not be a bad option for someone who is going to get the truck and might want to change vehicles in a few years and doesn't want to get smacked with a crash in resale value when a Gen 2 Cybertruck or a CT with longer range or a much lower MSRP gets onto the market.

I asked them to email the lease details and I will post those here when I have them.

The test drive went okay, got to drive it in winter conditions and it did fine. Things I did not like this time compared to last time;

1. The wiper is terrible in snow/slush conditions... and it wasn't clear to me if the washer was doing anything... the windshield was frequently streaked, badly and I couldn't get it cleared... luckily it's very dry here most of the time so that wouldn't affect me too much.
2. Parking it in the garage at the shopping mall after the drive was kind of terrible. I thought the rear visibility for tail in parking was atrocious... perhaps I just need to adjust to it. This was compounded by the rear camera being somewhat obscured by road film.

 

[ThaDon]

Little more information after my test drive and brief discussion today on the leasing details;

• There is a $7500 tax credit built into the lease, however the prices shown with the $7500 down payment ($999 a month) already take this into the account. So it is effectively $15,000 of cap reduction.
• Money factor .0054 for this offer which works out to a whopping 13% APR.
• Max down payment allowed on the lease is about $13,000 which works out to a monthly payment of $650-$700 a month depending on taxes, etc.
• In my state, the state tax credit ($2500) does not apply to leases.

So this is a little less attractive due to the high money factor and inability to pay for more cap cost reduction with a bigger down payment.

It still might not be a bad option for someone who is going to get the truck and might want to change vehicles in a few years and doesn't want to get smacked with a crash in resale value when a Gen 2 Cybertruck or a CT with longer range or a much lower MSRP gets onto the market.

I asked them to email the lease details and I will post those here when I have them.

The test drive went okay, got to drive it in winter conditions and it did fine. Things I did not like this time compared to last time;

1. The wiper is terrible in snow/slush conditions... and it wasn't clear to me if the washer was doing anything... the windshield was frequently streaked, badly and I couldn't get it cleared... luckily it's very dry here most of the time so that wouldn't affect me too much.
2. Parking it in the garage at the shopping mall after the drive was kind of terrible. I thought the rear visibility for tail in parking was atrocious... perhaps I just need to adjust to it. This was compounded by the rear camera being somewhat obscured by road film.

Crazy money factor if true. But I don’t see any indication on the website that the $7500 incentive is priced in. Sounds more likely that it’s just a lower money factor than the astronomically high rate you quoted at sticker price with no discount.

 

[dalton108]

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.

High demand, lower volume vehicles upon initial release are rarely, if ever, available for lease. If these were selling like hot cakes you wouldn’t be able to lease one for years.

So, no this is not normal for cars that are doing well at this point in the game. And this isn’t happening in a vacuum it’s another data point that’s telling a consistent story about demand.

 

[cbr1000]

High demand, lower volume vehicles upon initial release are rarely, if ever, available for lease. If these were selling like hot cakes you wouldn’t be able to lease one for years.

So, no this is not normal for cars that are doing well at this point in the game. And this isn’t happening in a vacuum it’s another data point that’s telling a consistent story about demand.

I agree in principal, but at these terms seems like this is the most individual out of pocket and highest return to Tesla. I'm not an expert on lease, but was really hoping for an option to buy at the end to take advantage of the $7500 EV credit non commercially. If I were Tesla I would be pushing this lease option as highest margin and it wouldn't matter when the product was released or what stock looks like.

 

[canyoncarver]

Crazy money factor if true. But I don’t see any indication on the website that the $7500 incentive is priced in. Sounds more likely that it’s just a lower money factor than the astronomically high rate you quoted at sticker price with no discount.

They showed me the financial calculator for doing lease on CT which was just released this morning.

It showed $7500 tax credit applied and another $7500 of cap reduction (this would be the down payment) and a payment of $999 a month.

Assuming a ~55% residual that means 29,600 of cap cost ($44,800 of depreciation minus $7500 tax credit minus $7500 down payment) which works out at 13% to almost exactly $999 per month over 36 months.

So yeah, I think that those numbers are probably correct.

 

[ThaDon]

They showed me the financial calculator for doing lease on CT which was just released this morning.

It showed $7500 tax credit applied and another $7500 of cap reduction (this would be the down payment) and a payment of $999 a month.

Assuming a ~55% residual that means 29,600 of cap cost ($44,800 of depreciation minus $7500 tax credit minus $7500 down payment) which works out at 13% to almost exactly $999 per month over 36 months.

So yeah, I think that those numbers are probably correct.

Thanks. Not super familiar with cars but that sounds like a crazy rate / money factor

 

[cgoats21]

They showed me the financial calculator for doing lease on CT which was just released this morning.

It showed $7500 tax credit applied and another $7500 of cap reduction (this would be the down payment) and a payment of $999 a month.

Assuming a ~55% residual that means 29,600 of cap cost ($44,800 of depreciation minus $7500 tax credit minus $7500 down payment) which works out at 13% to almost exactly $999 per month over 36 months.

So yeah, I think that those numbers are probably correct.

Why would the tax credit apply to this but not when purchasing one with cash or finance?

 

[canyoncarver]

Thanks. Not super familiar with cars but that sounds like a crazy rate / money factor

Leases usually carry higher interest rates than traditional auto loans.

In this case, the lender is going to take the tax credit (they are purchasing the vehicle as a commercial purchase where it qualifies regardless of end user's other qualifications) and then they are going to gouge the customer on the interest rate to make some extra cheese.

The difference in $$ on a three year loan on that amount for 13% vs 5.5% is about $3,000... so you are getting robbed but you are still getting the tax credit if you otherwise don't qualify.

I'm kind of on the fence with it... the best thing it does is immediately get me some piece of the tax credit and insulate me from future CT resale issues that I think are coming for these Gen 1 models.

 

[canyoncarver]

Why would the tax credit apply to this but not when purchasing one with cash or finance?

Because I make too much money to qualify for the tax credit but that doesn't matter with a lease.

 

[cgoats21]

I get that but they haven’t said the tax credit is even available for purchasing the truck, at least not the consumer one. Only the commercial one exists right now

 

[cgoats21]

Because I make too much money to qualify for the tax credit but that doesn't matter with a lease.

I get that but they haven’t said the tax credit is even available for purchasing the truck, at least not the consumer one. Only the commercial one exists right now

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