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

[canyoncarver]

As promised here are the lease details direct from Tesla advisor:

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[somerandomguy]

As promised here are the lease details direct from Tesla advisor:

any lease experts care to chime in on how that interest rates compares to most leases, because it seems high.

 

[Mini2nut]

Estimated value after 36 months = $55k

 

[canyoncarver]

Estimated value after 36 months = $55k

much higher residual than I anticipated.

 

[canyoncarver]

any lease experts care to chime in on how that interest rates compares to most leases, because it seems high.

it is a very high rate. I believe on Rivian you are looking at about 7.5-8%.

 

[Carnut12]

As promised here are the lease details direct from Tesla advisor:

Thanks for sharing the numbers.

Can you get military discount and referral discount on a lease? That would help too if so.

 

[canyoncarver]

I don't know about any discounts although someone earlier in this thread provided their referral code and said it was good for $1,000 off a Tesla lease.

 

[canyoncarver]

Looking at these numbers a bit further, Tesla appears to be adjusting the residual value based on the $7,500 tax incentive.

Still.... 68% residual is simply insane. How many people actually think a three year old CT with 30K miles on it is going to be worth $58,000? Especially since Tesla will likely refresh the vehicle by that point in time?

Yes, you will pay more in interest (by my calculations you will be about $3,000 additional in interest vs doing a traditional auto loan at 5.5%) but it's still "free money".

This lease deal is actually quite good IF you want a Cybertruck and are okay with the mileage caps and no option to buy it out at the end of the lease.

 

[canyoncarver]

stupid based on what? Your inability to use a spreadsheet?

 

[mk9027866]

Does

Looking at these numbers a bit further, Tesla appears to be adjusting the residual value based on the $7,500 tax incentive.

Still.... 68% residual is simply insane. How many people actually think a three year old CT with 30K miles on it is going to be worth $58,000? Especially since Tesla will likely refresh the vehicle by that point in time?

Yes, you will pay more in interest (by my calculations you will be about $3,000 additional in interest vs doing a traditional auto loan at 5.5%) but it's still "free money".

This lease deal is actually quite good IF you want a Cybertruck and are okay with the mileage caps and no option to buy it out at the end of the lease.

Can elaborate and help me decide? I really only want to commit to 2 years of ownership and I have the business use for either lease or own. The 2 year lease option is crazy expensive though so that's out.

What's the general consensus on residual value at the 2 year mark?

 

[canyoncarver]

Does


Can elaborate and help me decide? I really only want to commit to 2 years of ownership and I have the business use for either lease or own. The 2 year lease option is crazy expensive though so that's out.

What's the general consensus on residual value at the 2 year mark?

you can use a lease calculator to figure out the residual on the two year lease. It is going to be similar to the three year residual based on the payments.

 

[mk9027866]

you can use a lease calculator to figure out the residual on the two year lease. It is going to be similar to the three year residual based on the payments.

I saw that. Therefore the 2 year lease costs almost the same as a 3 year lease (in total).

 

[canyoncarver]

I saw that. Therefore the 2 year lease costs almost the same as a 3 year lease (in total).

The residual is being heavily inflated for sure.... so there's only so much more they can do with a two year lease.

Some businesses offer two year leases for their executives and that might be the only reason the two year option is even being offered.

As an aside to those who continue to insult people considering a lease, these are the reasons that leasing the CT might be more attractive than either a cash purchase or traditional finance:

• Leasing CT allows one to take advantage of the $7500 federal tax credit.
• Leasing locks in an absurdly high 68% resale value on CT at the three year mark. It is highly unlikely that CT will actually be worth 68% at the three year mark but obviously no guarantees here.

Now as to the raw financials, if you make the maximum cap reduction (down payment) on the lease then the interest on the minimum amount Tesla requires you to finance works out to about $4,000. Then additionally you are looking at $900 for lease acquisition and disposal.

So this leaves you paying $5,000 you would not pay if you were making a cash payment. Or about $3,500 more than you would spend on interest if you were doing a traditional auto loan with a similar down payment.

However, you get the $7,500 tax credit so you are still ahead at least $2,500.

 

[mongo]

However, you get the $7,500 tax credit so you are still ahead at least $2,500.

You don't get the credit though, it's baked into the lease terms.

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