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

[canyoncarver]

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

I don't know whether or not the CT qualifies for the $7500 tax credit for consumer purchase but it definitely applies for commercial purchase by way of a lease.

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[cgoats21]

I don't know whether or not the CT qualifies for the $7500 tax credit for consumer purchase but it definitely applies for commercial purchase by way of a lease.

So does that mean you can claim that on your taxes or it’s just like you are putting $15k down on the lease.

 

[Crissa]

You're definitely not 'insulated' from depreciation by leasing - you're insuring that you take that loss of 50%, which is probably worse than depreciation.

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

No, because then I would only have a truck for three years, less time than I waited.

That's spending all the money saved up for... three years of truck.

-Crissa

 

[nocyber]

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.

It’s such a dumb take, an extremely stupid, poor person take. Not worth it at all to discuss the hundreds of reasons why leasing is wrong, but extra stupid when you can’t even buy it. You literally burned money away on a depreciating asset that now you have no ownership in. You could have put all that money into the S&P and profited $10k after 3yrs instead. Ill never ever understand the YOLO mentality of the gotta have it now people. Ugh.

/rant

tldr; live your life. I hate being a preacher, but the reality is most of you all are completely broke on this forum. Not saying *you* are broke.. but damn, just feel the extra ick today with this comment.

 

[canyoncarver]

You're definitely not 'insulated' from depreciation by leasing - you're insuring that you take that loss of 50%, which is probably worse than depreciation.


No, because then I would only have a truck for three years, less time than I waited.

That's spending all the money saved up for... three years of truck.

-Crissa

That is absurd. I have turned in many lease vehicles that had the same or better residual value than they would have had if I had sold them at the same point in time.

Other things leasing does is let you walk away from a car if you really aren't in love with it or it has minor annoying issues that aren't going to be sorted out under warrant... or if it's been wrecked and repaired, wasn't totaled but is never going to be as good as it was pre-wreck.

Lease makes the most sense for affluent customers who lease high residual vehicles or novelty vehicles where resale might go off a cliff. Leasing makes the least sense for people who use it as a means to get into more car than they could otherwise afford or who don't have enough disposable income to perpetually have a car payment as a very small percentage of their monthly net income (say 10% of monthly net).

Normally leasing has another benefit which is "try before you buy" in which you can lease the car, and then if after a few years you love it you can simply buy it at the pre-agreed residual price. Unfortunately this is not an option with Teslas that are leased.

You pay a small premium (in the form of a higher money factor and additional fees) for this protection/flexibility compared to simply buying a car outright or using regular financing.

I've leased, financed or purchased 17 different cars. I'm pretty familiar with the pros cons of each approach.

 

[Crissa]

That is absurd. I have turned in many lease vehicles that had the same or better residual value than they would have had if I had sold them at the same point in time.

So you're saying it didn't insulate you from loss? Gotcha.

You're clearly the target market as you want to be making big payments for a car all the time, and eating that loss constantly.

I, on the other hand, prefer to get my value back by extending the life of my vehicle so the per mile cost is lower. Instead of paying towards a car for the last seven years, I've saved up. That's a heck of a not a loss.

-Crissa

 

[canyoncarver]

So you're saying it didn't insulate you from loss? Gotcha.

You're clearly the target market as you want to be making big payments for a car all the time, and eating that loss constantly.

I, on the other hand, prefer to get my value back by extending the life of my vehicle so the per mile cost is lower. Instead of paying towards a car for the last seven years, I've saved up. That's a heck of a not a loss.

-Crissa

Yes, I am a millionaire multiple times over who could write a check for a CT but I'm the mark because I might choose to make monthly payments to drive a newer model car every few years (I own four cars one of which is six years old and one of which is 13 years old) and not have to worry about what the value of that car is at the three year point in time.

 

[Mini2nut]

Leasing is generally not a wise financial decision unless you own a business and can take advantage of the tax laws.

 

[canyoncarver]

Leasing is generally not a wise financial decision unless you own a business and can take advantage of the tax laws.

With current interest rates what makes the most sense is to pay cash for the vehicle you can afford... and it makes even MORE financial sense to buy a vehicle that is 2-3 years old where another person has taken the massive depreciation hit and you get a nearly new vehicle at a huge discount.

However, the Tesla leasing offer has a few small advantages considering that some of us can't otherwise get the tax credit and it is completely unknown how valuable these cars will be at the three year mark.

My Model Y resale value completely went in the toilet when Tesla slashed prices two years ago and will be further impacted when a brand new redesigned model Y is released sometime next year.

 

[Mini2nut]

A base 2024 AWD Cybertruck at $80k should retain roughly 55% of its MSRP in 3-years, 2027, IF no further price cuts are enacted to increase demand. That works out to $44k.

 

[canyoncarver]

A base 2024 AWD Cybertruck at $80k should retain roughly 55% of its MSRP in 3-years, 2027, IF no further price cuts are enacted to increase demand. That works out to $44k.

It is a really big if. Resale value of Teslas fluctuates a lot. Tesla could also cut MSRP which they often do as a demand lever.

I mean, is it the end of the world if it's worth $38,000 in three years instead of $44K? Not really, but if the bank backing the lease wants to risk holding the bag if a longer range, redesigned, improved technology truck is released in a few years that's on them not you.

 

[Maddmax]

(no option to purchase) lease for any vehicle is a fools game.

 

[mongo]

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

Two different credits. 30D Clean Vehicle vs 45W Qualified Commercial Vehicle

 

[Crissa]

Yes, I am a millionaire multiple times over who could write a check for a CT but I'm the mark because I might choose to make monthly payments to drive a newer model car every few years (I own four cars one of which is six years old and one of which is 13 years old) and not have to worry about what the value of that car is at the three year point in time.

Weirdly your net worth is irrelevant to the cost per mile.

What a weird flex. Because consistent loss to alleviate your fomo is an emotional value - but it's not an economic/cash one.

If I were a millionaire I also would not have to care about the cost per mile and could focus on the fomo per mile, too.

At no point did I say this was an invalid choice. Everyone comes at a purchase with different needs and values. I rather wish I could value fun over dollars per mile. And I can only really manage that to the tune of $3k a year, not $20k a year. At least I get where I'm going faster for it, as well as more fresh air.

-Crissa

Edit: this looked more harsh on re-read, and it was not meant to be.

 

[Jack27]

It’s such a dumb take, an extremely stupid, poor person take. Not worth it at all to discuss the hundreds of reasons why leasing is wrong, but extra stupid when you can’t even buy it. You literally burned money away on a depreciating asset that now you have no ownership in. You could have put all that money into the S&P and profited $10k after 3yrs instead. Ill never ever understand the YOLO mentality of the gotta have it now people. Ugh.

/rant

tldr; live your life. I hate being a preacher, but the reality is most of you all are completely broke on this forum. Not saying *you* are broke.. but damn, just feel the extra ick today with this comment.

Leasing is for people who want to drive (rent) a better car then the can actualy afford . I would only say it makes sense maybe if it’s through your company .

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