The prices you’re using don’t include taxes and fees which bump the Model 3 Perf for example up an extra $200/mo from what the site shows and numbers you used.
true, but then they cancel out when you get tax cut from having an eletric car. If for business, you can get tax benefit as business write off, even as LEASE!. IF not, you'd still get it if you plan on purchasing the car afterwards.
I have been leasing for the last 10 years and 3 of them have been with Tesla. The thing I like about leasing is a new car every 3 years and don’t have to own something that depreciates in value. The miles thing is the worst part but I always do the 15000 a year and seems to work good for me. As far as buying at the end of the lease you can only do that with the models S & X,. I am on my second model 3 so I will not have the option to buy. When I did my credit app online it was instant approval, didn’t have to wait at all. I did Tesla insurance and it’s pretty cheap. I got the new 2024 model 3 performance and had to put down $6000. The first Tesla was a 2021 model three performance and had to put down $5000. My payment actually went down from last time. It’s was $781 for the 2021 and now it’s $741 for the 2024 a month. I have solar on my roof at home that covers all the electricity charges even charging the car. So in my opinion, for me, leasing is an amazing option.
If you understand business, you know that leasing can be a great business strategy. What you pay becomes a tax write off. Leasing just to get a lower payment is the same as renting a car.
so I have leased for years and done this strategy but something in this video made me pause.. (my current car lease is up in a couple months on a regular car).. since I own multiple vehicles, its easy to keep one 100% company use.. anyway the barrator in the video noted "not for business".. so makes me wonder if i cant write a Tesla off on the company like ive done... we have put them in the company name and let the company pay the lease and fuel / maint.. I guess i need to call my CPA to see if simply leasing it in my name then expensing it to the LLC works..
I used to own BMWs and once when I was at my then local dealership a lady was returning a black 5 series from a lease and when the dealership shined a light just the right way, they found some scratches from car washes, though I and one other customer couldn't see the scratches, they dinged her for over $800 for that "damage".
I am leasing now (and used your referral code) and here is what I think.. the system is always changing, the charging part might even change in 3 years, then what? You all have an adapter to the old Tesla port. Also I got my Model 3 in December of 2023, so I look forward to my Model 3 in 2026 with all of it's updates as a lease... I don't want to buy as we know all "technology" changes every year-- look at Apple computers from 3 yrs ago. Finally, I pay my lease with stock I purchased called TSLY. 10k gives me $500 monthly to pay for the lease, insurance and charging. Work that magic!
**THIS**!! Ive leased a lot of cars over the years and have always put the absolute minimum down.. with GAP you dont need the extra down.. now it does cost tyou a little more in "interest" if the lease has a high money factor (like some do now).. Tesla store employees wont break the numbers down for you so you have to take the payment differences with the different down payments and break out the money factor yourself and its not bad on a tesla.. better than some...
@ryanshawtech I am returning my 21 M3P lease on 8/3. I have been leasing cars since 1995 & for the first time ever Tesla is charging me $350 to remove the tints on the car. I paid $299 to get them installed. Front has legal tints. However Tesla states it’s in the agreement that it cannot be returned with tints. I took it back to my tint shop & had them removed for $100. So Inam good. But wanted to share for others who lease & have tints. I am getting into a 24 M3P & will also tint it but being mindful that I will need to remove them in 3 years. That was the only major modification I had. My Wife & ai enjoy your EV content. Keep up the great work!! ✌🏻 & ✊
@@Ocean_Native It was the easiest lease return. I ended up not owing a penny. Since I was a returning customer I was giving $500 allowance for any repairs. They also offered to remove the last 3 payments. All good and happy with the return process.
We are arriving at a point in time when things may change RAPIDLY in the EV sector. FSD robotaxis may become the better choice over buying a vehicle in the next 5-10 years. EVs might become substantially cheaper in the next 2-5 years. Leasing might be a way to ride the wave until the transportation situation sorts itself out and a new norm emerges.
I bought a used 2022 Model 3 for $18,900 after the Federal Rebate, and I own it outright. The lease for the RWD Model 3 might make the most financial sense if you want to drive a brand-new car, but you are limited to 10,000 miles. So, if you drive a lot, you cannot recoup your investment in gas savings. It would be interesting to see how much the trade-in value is after the lease is completed. I figured that the money I invested to purchase my 2022 Model 3 actually is earning about 8% annually in gas savings. This ROI is guaranteed so long as I don't have an accident or the car breaks down. Since the Model 3 is perhaps the most reliable EV made, I don't foresee it breaking down. I also calculated that if I drive the car for approximately 18000 - 20,000 miles, it will have paid for itself in gas savings, using $4.00 per gallon as a metric. This does not include savings on oil changes, brake changes, fluid replacements and other ICE maintenance cost savings. I also own a 4-wheel Drive Toyota. It gets about 15 mpg in the city, so I save a ton of money on gas in comparison. If I drive this Model 3 for more than 20,000 miles, it will be paying me to own it as opposed to driving my Tacoma. This is an almost guaranteed financial return of 8%, and that ROI is hard to find right now unless you take significant risks.
I've never leased a car, instead we do our research and have always purchased new cars, taken very good care of them and keep them a long time. I was considering leasing the Long Range Model Y we bought last February, as it seems that EVs and battery technology will march forward in the future I evaluated a lease, but again decided to purchase. We had a very lucky stock trade, which much more than paid for the new car, so we paid cash and are glad we did.
@@Geniere10 The only way we would have been open to a lease was if it had a buyout feature at the end of the lease period, but this one did not. We are really happy with the car we bought in February, it was time to trade in the Bimmer, no second thoughts about the choices we made.
Like any tech, if you can wait then do. However, there will always be new things to wait for. The new Shenxing and Shenxing plus batteries, new motors, hardware 5.0, etc. It will always be something. I normally would never recommend a lease but since the tech is still moving very fast it's a way of always having a new up to date car. Also the $299 lease is tempting as hell. I don't need another tesla but the family tends to fight over who get's to drive it over the other vehicles, so another one would be nice.
A $50,000 car divided by 120 months (10 years) gives $416 a month. Always think about it as a cost per month. This lease rate is truly incredible imo, and it’s compounded by the fact that batteries are improving
The thing about leasing a Model Y is that you’re very likely getting stuck with the LG battery since leases aren’t subject to domestic battery sourcing requirements. Would have been nice if Ryan addressed that.
@@travellover3373 Please explain. Because when looking inventory on the Tesla website, as soon as I select Lease instead of Cash/Finance, the available Model Ys CHANGES. Why do you think that is? I’d strong suspect it’s that the Panasonic battery vehicles are eliminated from my selection and they’re filtering to only show LGs. If that’s not happening, I’d love to hear another explanation.
@@travellover3373 Nope. Go to Tesla website and look at all the Model Ys in inventory. Then choose “Lease” instead of the default “Cash/Finance” and notice how it filtered out a lot of vehicles in inventory. Clearly, there’s a reason that is happening. And the only plausible reason I can imagine (besides it being a demo vehicle) is that they are only allowing leases of vehicles with LG batteries. I’d be happy to be proven incorrect.
Another downside for leasing a Telsa is when you return the car, they will charge for a wear and tear fee which is from low $3000 to over $5000 USD, that really keeps me away from leasing one.
BS. They can charge you if there is damage. If there is not significant damage then they won't. All leases are this way. By brother had to pay $400 for a scratch on the bumper which was his fault. Obviously, wash and clean the car before you return it. They will charge for that.
@@gallantho9462 Yeah, Treat the car like you own it. I saw a post on Reddit complaining about $5,400 charge from Tesla and showed the pictures. Let's just say it was easily more than $5,400 in damages. A dealer has to resell the car to make money, if you let your dog chew up the inside, it's going to cost you. This isn't just Tesla it's every company.
I leased one car in my life time when i turned it in they made me pay for new tires. They said the ones on were worn which i highly disagreed. It felt like i lost my car and got nothing in return. I much prefer buying...
You never lost your car because you never purchased it. It was essentially a long term rental. You should have known that going into it. New tires upon returning a leased vehicle is common. Did they tell you how much tread depth was remaining?
@@timc.911 I understand that it just felt that way. On the tires they went by the tire Guage? on the tread. I would never replace a tire according to that. There were lots of tread left.
FSD only makes sense using the subscription model whether you lease or purchase. The payback period is 80 (assuming no interest on the 8k) to 100 months (assuming 5% interest on the 8k)
@@teslamr7333 I'm not sure about NY but shop it around. Travelers is generally pretty good if you can't get Tesla insurance. If you have a commercial policy you can get even better deals. Just stay away from any Berkshire companies. I literally laughed when they gave me a quote. It was not only twice what everyone else quoted but the wanted $2,000 grand up front. Berkshire owns a big portion of BYD the biggest competitor to Tesla . I suspect this is the reason the quote was so ridiculous.
I am currently placing a lease order via the Tesla app and was approved but the approval looks like a finance as it’s showing a 7% Apr. The Tesla rep said he might have to re submit it to show a money factor as it should for a lease
Have been leasing cars for last 15 years, first Chevrolet Volt was $199.00/month, $0.00 down/12,000mil year my Best deal ever. ALWAYS lease and rent depreciation assets. No problems with selling or service or anything for that reason.
typically on a lease the provision is automatically applied for the dealer to take the tax credit.. this is something that was put in play many years ago when the original EV tax credit was created.. it was done as a way back then for people who cant qualify for the tax credit (lower income or dont itemize) to still reap some benefits.. the dealer, only on a lease, could receive the $ from the feds.. if you asked for an itemized document for your lease at a dealer you would see the 7500 applied as a cap cost reduction (like a down payment).. im guessing thats how it would show up on a tesla lease. (some states require the customer be given a fully itemized breakdown of any and all costs / charges / credits with the deal)...
I would never put money down on a lease but in this scenario especially it makes no sense. ~$400 increase over the course of the lease for the M3 RWD except you aren’t putting 3k down so net savings of ~$2600.
i’ve talked with tesla customer assistance and they’ve always recommended. definitely do it if you qualify in your state. i think i’ve heard it can be around $90-$125 depending on your driving
But, if you want a different car every 3 years, and don’t want to hassle with selling it. Leasing is great, you just drop it off at dealer of your choice, no hassle. Then go lease another one at monthly payments at half if you purchased it.
I got a Toyota Yaris 2008 brand new and it still runs like a Champ. Own it out right. I'm not.charged per mile to use it . Lifes good when your a simple content individual .
@CrownStudentG after the 2 week HIGH I might feel from owning a new car wears off the Debt from the transaction from my wallet could never view as a good upgrade to my life. I rather keep my money
I grew up buying cars at the auto auction, usually 2 yr old 25k miles, previous leased cars. I’ve only bought 2 new cars. I plan on driving all my cars until they fail. It’s just easier & cheaper to maintain a car and drive them for a decade or more.
Watched your video. Went to the Tesla web site. Couldn't find a single "insane" deal on Model Y lease prices. Everything was over $500/mo plus taxes and fees. WTF?
Leasing will ALWAYS be cheaper than buying brand new. If you are planning to buy, at the end of your lease agreement the car will be far cheaper. My advice when leasing: 1) Never put nothing down for a lease. The car will never be yours. If you have to, max $1.5K. 2) Have a monthly payment in mind that you can afford. Don't be tricked by dealerships. Focus on the MSRP & see their prices. 3) Always get the highest mile deal. Things happen, and avoid those mile fees.
It might be best to lease now if FSD is a factor. HW4 will be phased out to HW5 and HW4 will be left hanging like HW3. At least a lease will allow for a new lease with HW5. It's playing the Tesla roulette wheel with price cuts and FSD downloads.
leasing a BRAND NEW Car doesnt make sense, UNLESS you plan to buy. Leasing a car aside from Kia/Hyundai/Mitshubishi cause their 10yr/100k warranty is GOOD. Why?! CAUSE dealership still owns THAT car.Which means...they'd rush you for any warranty work to get done ASAP. Actually is smart if you plan to purchase the car afterwards cause you avoid the interest rate from finanacing.
This article regarding leasing is pretty involved. But you never ever mentioned a person that has a trade-in and wants to lease a new Tesla. How does that work? I guess I'll just have to go to Tesla's website and click on lease and see what happens. I can't believe you leave the subject of having a car for trade-in as probably the majority of the people do have trade-ins.
@@Ocean_Native I just talked with a Tesla Advisor and now I know. I have a demo tomorrow at 10 AM in Tucson. I got a prelim appraisal for my 21 Accord. My Tesla Advisor sent me 2 lease expense sheets, 1 of a gray exterior paint/black interior and one with red paint and white interior (the one I want). the lease spread payment wise is 10.00. no brainer. The surprise is the $250.00 no refund order fee. Delivery window is 2/3 weeks. thanks for the reply. I guess I am joining the Tesla family after watching everyone on TH-cam take delivery for the last 10 years. now it is our turn.
It's not. It's $299 a month. The $216 is Tesla's estimated savings on fuel and maintenance. The only way to end up with an actual payment of $216 is to put more money down upfront at signing. I know I'm not the Ryan your referring to, but I thought I'd chime in.
Unless you can buy out your lease when it comes to the end I would never lease from Tesla because you can't buy the car if leasing through Tesla you have to give it back which is pointless IMO
The problem with lease is, after 72 month of lease or 6 years, you ends up with no car left where if you fianance or cash, you pay about the same amount and still have a car left to sell/drive after 6 years, without miles restriction, modification restriction, and wear and tear restriction, so I don't understand why anyone would lease.
@@SpaceTravel1776 especially if you think of teslas like iphones. rent a new model every 3 years or own the same model for several years. some people want the newest model/tech. fsd 12.5 is being released only to hw4 models with the hope that they can optimize for hw3.
Tesla leases are not true $0 down. They make you pay taxes and fees up front. Then if you crash the thing you out of luck , money is gone. I get scare of putting anything more than $500 out pocket all in on any car…
Leasing a Tesla only makes sense if you can deduct the total cost all in from your taxes (I.e. TH-cam channel content maker of auto reviews , purchasing , leasing , etc.. ) . Why would you throw $5000/year just to drive to and from work ? They don’t give you enough mileage to take any trips . Tesla is the worst !
@@mt9727 : Talking about the avalanche of Chinese electrics coming at ridiculous prices with some very cool features. Talking about the Grandmother of all depressions and people having a $500 lease and a shit load of other expenses to go with that car.
The way things are changing with battery technology, a new EV will probably be obsolete in a couple years and almost worthless. I won’t buy an EV until the technology gets figured out with them running 600 miles with a 10 minute charge. So for now I’m leasing.
Unless you own a business or you work for a company that is paying for your vehicle, leasing like renting is a waste of money and a perfect way of never retiring. You are better off buying an older car vs leasing a brand new one. I can't for the life of me understand why people do this at all especially when it comes to cars. My idiot cousin used to do this, every two years he would lease a BMW something, put 15K down and pay somewhere around 600 a month. He did this for 8 years. While I bought a BMW M5 comp for a total of 93,678. At the end of 8 years this guy spent 109K. Now I'm sure by the time I paid off my M5 I spent the same amount, the difference is. When he finally bought the same model S that I did, he had spent a total of $192,186.08. While I got 53K for my M5 and put the money towards the model S making me come out of pocket $29000 for a total of $122,678. Now of course this is us buying expensive cars, but the same rule applies.
FSD was actually cheaper to purchase with a lease when it was $199 a month and $8000 purchase. Verified by using with and without lease prices on a 36 month lease. Now it's not with the $99 price.
Add the gas savings it's dishonest tesla move. Also tesla is way too much for mid too low end buyer. Sweet spot 500. Foregt price 28k or 35k it's all irrelevant. Month price 500 or lower is tesla path out if this dead spot. I'm investor and low price tesla is last hope or we are in trouble. So elon make are car or suv with per month payment in ur brain.
i’m confused, where would you find a 2024 model 3 for 18k? the point of leasing is to get the newest car with best features. a used car that’s worth 18k wouldn’t compare lol
Ryan, as much as I enjoy and respect your research and presentation, it makes me crazy when you rattle off 5 or 6 digits of a number that should be read as e.g., xx.x dollars. Plus it takes considerably longer. My attention span, being 81 years old, just isn't up to the challenge.
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Pic of $216 per month is misleading
The prices you’re using don’t include taxes and fees which bump the Model 3 Perf for example up an extra $200/mo from what the site shows and numbers you used.
@@thxphil very true
440 is not bad
true, but then they cancel out when you get tax cut from having an eletric car. If for business, you can get tax benefit as business write off, even as LEASE!. IF not, you'd still get it if you plan on purchasing the car afterwards.
I have been leasing for the last 10 years and 3 of them have been with Tesla. The thing I like about leasing is a new car every 3 years and don’t have to own something that depreciates in value. The miles thing is the worst part but I always do the 15000 a year and seems to work good for me. As far as buying at the end of the lease you can only do that with the models S & X,. I am on my second model 3 so I will not have the option to buy. When I did my credit app online it was instant approval, didn’t have to wait at all. I did Tesla insurance and it’s pretty cheap. I got the new 2024 model 3 performance and had to put down $6000. The first Tesla was a 2021 model three performance and had to put down $5000. My payment actually went down from last time. It’s was $781 for the 2021 and now it’s $741 for the 2024 a month. I have solar on my roof at home that covers all the electricity charges even charging the car. So in my opinion, for me, leasing is an amazing option.
Did they charge you the wear and tear fee when you return the car? Couple of my friends got charge a wear and tear fee from low $3000 to over $5000.
you put a down payment, on a lease.?
@@gallantho9462 yes they did, $1800 for rims having a little bit of curb rash and a dent on the hood.
@@nitrousstang yes, $6000 down
Or you could have bought a 6k car and put $700/month in a 401k for 10 years and have how much $ after 10 years...
All things equal. You are paying the depreciation plus associated admin cost of the vehicle in a lease.
If you understand business, you know that leasing can be a great business strategy. What you pay becomes a tax write off. Leasing just to get a lower payment is the same as renting a car.
so I have leased for years and done this strategy but something in this video made me pause.. (my current car lease is up in a couple months on a regular car).. since I own multiple vehicles, its easy to keep one 100% company use.. anyway the barrator in the video noted "not for business".. so makes me wonder if i cant write a Tesla off on the company like ive done... we have put them in the company name and let the company pay the lease and fuel / maint.. I guess i need to call my CPA to see if simply leasing it in my name then expensing it to the LLC works..
plus the write off own having eletric car is going to double down on that tax cut
My 2020 Model Y lease return went horribly. I will never lease a car that you can’t buy at lease end.
What was your biggest disappointment in leasing one? I am considering it.
Did you damage the car before lease-end?
He wanted to buy it at the end, and Tesla won’t do that, which is very strange, all other makers do.
I used to own BMWs and once when I was at my then local dealership a lady was returning a black 5 series from a lease and when the dealership shined a light just the right way, they found some scratches from car washes, though I and one other customer couldn't see the scratches, they dinged her for over $800 for that "damage".
@@ejr1953bad people are everywhere. They probably pocketed the money. All my leases were through a bank or the manufacture, never done by the dealer.
I am leasing now (and used your referral code) and here is what I think.. the system is always changing, the charging part might even change in 3 years, then what? You all have an adapter to the old Tesla port. Also I got my Model 3 in December of 2023, so I look forward to my Model 3 in 2026 with all of it's updates as a lease... I don't want to buy as we know all "technology" changes every year-- look at Apple computers from 3 yrs ago.
Finally, I pay my lease with stock I purchased called TSLY. 10k gives me $500 monthly to pay for the lease, insurance and charging. Work that magic!
You should never put any cash down on a lease above taxes and fees. If the car is wrecked you are just out that money.
Learned that lesson the hard way
**THIS**!! Ive leased a lot of cars over the years and have always put the absolute minimum down.. with GAP you dont need the extra down.. now it does cost tyou a little more in "interest" if the lease has a high money factor (like some do now).. Tesla store employees wont break the numbers down for you so you have to take the payment differences with the different down payments and break out the money factor yourself and its not bad on a tesla.. better than some...
Wouldn’t it be the same if you’re financing if the car is wrecked?
@ryanshawtech I am returning my 21 M3P lease on 8/3. I have been leasing cars since 1995 & for the first time ever Tesla is charging me $350 to remove the tints on the car. I paid $299 to get them installed. Front has legal tints. However Tesla states it’s in the agreement that it cannot be returned with tints. I took it back to my tint shop & had them removed for $100. So Inam good. But wanted to share for others who lease & have tints. I am getting into a 24 M3P & will also tint it but being mindful that I will need to remove them in 3 years. That was the only major modification I had. My Wife & ai enjoy your EV content. Keep up the great work!! ✌🏻 & ✊
Following up, how was your return experience? I’m awaiting delivery for my first Tesla. Leasing a new base model highland.
@@Ocean_Native It was the easiest lease return. I ended up not owing a penny. Since I was a returning customer I was giving $500 allowance for any repairs. They also offered to remove the last 3 payments. All good and happy with the return process.
I saw the notification about this video and got excited went on their site and there was nothing new. It was the same 299 a month.
nah ikr, this guy lowkey just yaps to get that 10 min mark
@@mob6202 it was good for a while. I moved onto a electrified.
We are arriving at a point in time when things may change RAPIDLY in the EV sector. FSD robotaxis may become the better choice over buying a vehicle in the next 5-10 years. EVs might become substantially cheaper in the next 2-5 years. Leasing might be a way to ride the wave until the transportation situation sorts itself out and a new norm emerges.
Yes I agree with you and the SUN might come up tomorrow.
I bought a used 2022 Model 3 for $18,900 after the Federal Rebate, and I own it outright. The lease for the RWD Model 3 might make the most financial sense if you want to drive a brand-new car, but you are limited to 10,000 miles. So, if you drive a lot, you cannot recoup your investment in gas savings. It would be interesting to see how much the trade-in value is after the lease is completed.
I figured that the money I invested to purchase my 2022 Model 3 actually is earning about 8% annually in gas savings. This ROI is guaranteed so long as I don't have an accident or the car breaks down. Since the Model 3 is perhaps the most reliable EV made, I don't foresee it breaking down. I also calculated that if I drive the car for approximately 18000 - 20,000 miles, it will have paid for itself in gas savings, using $4.00 per gallon as a metric. This does not include savings on oil changes, brake changes, fluid replacements and other ICE maintenance cost savings. I also own a 4-wheel Drive Toyota. It gets about 15 mpg in the city, so I save a ton of money on gas in comparison.
If I drive this Model 3 for more than 20,000 miles, it will be paying me to own it as opposed to driving my Tacoma. This is an almost guaranteed financial return of 8%, and that ROI is hard to find right now unless you take significant risks.
How many miles on it?
I've never leased a car, instead we do our research and have always purchased new cars, taken very good care of them and keep them a long time. I was considering leasing the Long Range Model Y we bought last February, as it seems that EVs and battery technology will march forward in the future I evaluated a lease, but again decided to purchase. We had a very lucky stock trade, which much more than paid for the new car, so we paid cash and are glad we did.
And then there will be a Model Y refresh next year and you will wish you leased instead
@@Geniere10 The only way we would have been open to a lease was if it had a buyout feature at the end of the lease period, but this one did not. We are really happy with the car we bought in February, it was time to trade in the Bimmer, no second thoughts about the choices we made.
I’m waiting for my lease M3P. Got 3 yr and hoping Cyber truck will have bugs fixed and cheaper variant out.
Like any tech, if you can wait then do. However, there will always be new things to wait for. The new Shenxing and Shenxing plus batteries, new motors, hardware 5.0, etc. It will always be something. I normally would never recommend a lease but since the tech is still moving very fast it's a way of always having a new up to date car. Also the $299 lease is tempting as hell. I don't need another tesla but the family tends to fight over who get's to drive it over the other vehicles, so another one would be nice.
A $50,000 car divided by 120 months (10 years) gives $416 a month. Always think about it as a cost per month. This lease rate is truly incredible imo, and it’s compounded by the fact that batteries are improving
The thing about leasing a Model Y is that you’re very likely getting stuck with the LG battery since leases aren’t subject to domestic battery sourcing requirements. Would have been nice if Ryan addressed that.
You can lease any model you want, not just the ones with outsourced batteries.
@@travellover3373 Please explain. Because when looking inventory on the Tesla website, as soon as I select Lease instead of Cash/Finance, the available Model Ys CHANGES. Why do you think that is? I’d strong suspect it’s that the Panasonic battery vehicles are eliminated from my selection and they’re filtering to only show LGs.
If that’s not happening, I’d love to hear another explanation.
@@travellover3373 Nope. Go to Tesla website and look at all the Model Ys in inventory. Then choose “Lease” instead of the default “Cash/Finance” and notice how it filtered out a lot of vehicles in inventory. Clearly, there’s a reason that is happening. And the only plausible reason I can imagine (besides it being a demo vehicle) is that they are only allowing leases of vehicles with LG batteries.
I’d be happy to be proven incorrect.
Another downside for leasing a Telsa is when you return the car, they will charge for a wear and tear fee which is from low $3000 to over $5000 USD, that really keeps me away from leasing one.
BS. They can charge you if there is damage. If there is not significant damage then they won't. All leases are this way. By brother had to pay $400 for a scratch on the bumper which was his fault. Obviously, wash and clean the car before you return it. They will charge for that.
@@Ryan-ff2db Good point, I didn't ask my friends about their Tesla's condition when they return the car.
@@gallantho9462 Yeah, Treat the car like you own it. I saw a post on Reddit complaining about $5,400 charge from Tesla and showed the pictures. Let's just say it was easily more than $5,400 in damages. A dealer has to resell the car to make money, if you let your dog chew up the inside, it's going to cost you. This isn't just Tesla it's every company.
The car has to be in bad shape to have to pay $5000. I lease and it cost $300 for the transfer cost, which is paid upfront.
I leased one car in my life time when i turned it in they made me pay for new tires. They said the ones on were worn which i highly disagreed. It felt like i lost my car and got nothing in return. I much prefer buying...
You never lost your car because you never purchased it. It was essentially a long term rental. You should have known that going into it. New tires upon returning a leased vehicle is common. Did they tell you how much tread depth was remaining?
@@timc.911 I understand that it just felt that way. On the tires they went by the tire Guage? on the tread. I would never replace a tire according to that. There were lots of tread left.
FSD only makes sense using the subscription model whether you lease or purchase. The payback period is 80 (assuming no interest on the 8k) to 100 months (assuming 5% interest on the 8k)
The NY insurance prices are even more insane . Some of the big name Insurance companies don’t even Insure Tesla’s in NY.
Then go through Tesla insurance
@@buraison They don’t offer it in NY.
@@teslamr7333 smh worst place to have a car
@@teslamr7333 I'm not sure about NY but shop it around. Travelers is generally pretty good if you can't get Tesla insurance. If you have a commercial policy you can get even better deals. Just stay away from any Berkshire companies. I literally laughed when they gave me a quote. It was not only twice what everyone else quoted but the wanted $2,000 grand up front. Berkshire owns a big portion of BYD the biggest competitor to Tesla . I suspect this is the reason the quote was so ridiculous.
I am currently placing a lease order via the Tesla app and was approved but the approval looks like a finance as it’s showing a 7% Apr. The Tesla rep said he might have to re submit it to show a money factor as it should for a lease
Have been leasing cars for last 15 years, first Chevrolet Volt was $199.00/month, $0.00 down/12,000mil year my Best deal ever. ALWAYS lease and rent depreciation assets. No problems with selling or service or anything for that reason.
Why is the $7500 tax break never mentioned?
typically on a lease the provision is automatically applied for the dealer to take the tax credit.. this is something that was put in play many years ago when the original EV tax credit was created.. it was done as a way back then for people who cant qualify for the tax credit (lower income or dont itemize) to still reap some benefits.. the dealer, only on a lease, could receive the $ from the feds.. if you asked for an itemized document for your lease at a dealer you would see the 7500 applied as a cap cost reduction (like a down payment).. im guessing thats how it would show up on a tesla lease. (some states require the customer be given a fully itemized breakdown of any and all costs / charges / credits with the deal)...
Why would I lease, when RoboTaxis are coming?
What if you trade in a car with higher residual value? Do you get the cash back?
Are these first comments from bots? ⬆️
They seem bizarrely detached from the material presented in the video.
I would never put money down on a lease but in this scenario especially it makes no sense. ~$400 increase over the course of the lease for the M3 RWD except you aren’t putting 3k down so net savings of ~$2600.
Would love to know what you think about Tesla insurance and if you use it.
i’ve talked with tesla customer assistance and they’ve always recommended. definitely do it if you qualify in your state. i think i’ve heard it can be around $90-$125 depending on your driving
Great explanation and comparisons, Ryan!
But, if you want a different car every 3 years, and don’t want to hassle with selling it. Leasing is great, you just drop it off at dealer of your choice, no hassle. Then go lease another one at monthly payments at half if you purchased it.
I got a Toyota Yaris 2008 brand new and it still runs like a Champ. Own it out right. I'm not.charged per mile to use it . Lifes good when your a simple content individual .
I have an 07 Yaris sedan. Bought it new, basically. Yea, it's simple and gets the job done. I bought a 23 MYP last year. It's a nice upgrade.
@CrownStudentG after the 2 week HIGH I might feel from owning a new car wears off the Debt from the transaction from my wallet could never view as a good upgrade to my life. I rather keep my money
I miss my little Yaris sedan. It was so zippy and nimble. My MYLR is like Yaris that went to the gym.
I grew up buying cars at the auto auction, usually 2 yr old 25k miles, previous leased cars. I’ve only bought 2 new cars. I plan on driving all my cars until they fail. It’s just easier & cheaper to maintain a car and drive them for a decade or more.
@@CrownStudentGhuge upgrade, congrats
This helped me out tremendously. Thank you.
Watched your video. Went to the Tesla web site. Couldn't find a single "insane" deal on Model Y lease prices. Everything was over $500/mo plus taxes and fees. WTF?
Leasing will ALWAYS be cheaper than buying brand new. If you are planning to buy, at the end of your lease agreement the car will be far cheaper. My advice when leasing:
1) Never put nothing down for a lease. The car will never be yours. If you have to, max $1.5K.
2) Have a monthly payment in mind that you can afford. Don't be tricked by dealerships. Focus on the MSRP & see their prices.
3) Always get the highest mile deal. Things happen, and avoid those mile fees.
Please compare to a Tesla CPO 1-3 year old Y that has FSD?
It might be best to lease now if FSD is a factor. HW4 will be phased out to HW5 and HW4 will be left hanging like HW3. At least a lease will allow for a new lease with HW5. It's playing the Tesla roulette wheel with price cuts and FSD downloads.
I heard that HW5 will replace HW4 in the future making the earlier obsolete.
leasing a BRAND NEW Car doesnt make sense, UNLESS you plan to buy. Leasing a car aside from Kia/Hyundai/Mitshubishi cause their 10yr/100k warranty is GOOD. Why?! CAUSE dealership still owns THAT car.Which means...they'd rush you for any warranty work to get done ASAP. Actually is smart if you plan to purchase the car afterwards cause you avoid the interest rate from finanacing.
This article regarding leasing is pretty involved. But you never ever mentioned a person that has a trade-in and wants to lease a new Tesla. How does that work? I guess I'll just have to go to Tesla's website and click on lease and see what happens. I can't believe you leave the subject of having a car for trade-in as probably the majority of the people do have trade-ins.
Trade ins work normal for leases! I’m awaiting delivery for my first Tesla lease. Trade in process will be the same
@@Ocean_Native I just talked with a Tesla Advisor and now I know. I have a demo tomorrow at 10 AM in Tucson. I got a prelim appraisal for my 21 Accord. My Tesla Advisor sent me 2 lease expense sheets, 1 of a gray exterior paint/black interior and one with red paint and white interior (the one I want). the lease spread payment wise is 10.00. no brainer. The surprise is the $250.00 no refund order fee. Delivery window is 2/3 weeks. thanks for the reply. I guess I am joining the Tesla family after watching everyone on TH-cam take delivery for the last 10 years. now it is our turn.
What about dealer fee, taxes and ev credit for leasing?
Hey Ryan, some how I missed how to end up with a $216 a month lease payment. At what point in the video do you talk about it?
It's not. It's $299 a month. The $216 is Tesla's estimated savings on fuel and maintenance. The only way to end up with an actual payment of $216 is to put more money down upfront at signing. I know I'm not the Ryan your referring to, but I thought I'd chime in.
@@Ryan-ff2dbthat’s bs math and Ryan knows it, but his hard-on for Tesla is too obvious
Unless you can buy out your lease when it comes to the end I would never lease from Tesla because you can't buy the car if leasing through Tesla you have to give it back which is pointless IMO
Never once thought about leasing a car. Just an insane waste of money unless you’re living temporary in a particular area or from over seas.
Ridiculous- Leasing being pushed? Attractive option yes...if you have no money and insist on things beyond your means.
The insurance cost is more than I pay for fuel and insurance on my 18 year old car. Not a good deal
Checkout blazer ev and equinox ev leases. They are far better than tesla leases.
Not insane. Still pricy. Leasing a polestar for $1000 down and $300/mo is more enticing.
The problem with lease is, after 72 month of lease or 6 years, you ends up with no car left where if you fianance or cash, you pay about the same amount and still have a car left to sell/drive after 6 years, without miles restriction, modification restriction, and wear and tear restriction, so I don't understand why anyone would lease.
Why lease a vehicle for 6 years?
Can you no longer lease a Tesla and get the federal tax credit?
Leasing will NEVER be worth it with Tesla unless you have money to just throw away. Until you can buyout the lease, it is completely pointless.
True but I mean I got a model X RN ahaha
Some people like to always have a new car. Leasing is cheaper and easier than constantly buying and selling a car every 1-3 years.
@@SpaceTravel1776 especially if you think of teslas like iphones. rent a new model every 3 years or own the same model for several years. some people want the newest model/tech. fsd 12.5 is being released only to hw4 models with the hope that they can optimize for hw3.
@@SpaceTravel1776Not cheaper, but it is easier
Teslas keep improving in both software and hardware: batteries. So buying may not be the best option
Tesla leases are not true $0 down. They make you pay taxes and fees up front. Then if you crash the thing you out of luck , money is gone. I get scare of putting anything more than $500 out pocket all in on any car…
If leases had 20k miles I could do it
Still can’t lease in South Carolina. Frustrating
Leasing a Tesla only makes sense if you can deduct the total cost all in from your taxes (I.e. TH-cam channel content maker of auto reviews , purchasing , leasing , etc.. ) . Why would you throw $5000/year just to drive to and from work ? They don’t give you enough mileage to take any trips . Tesla is the worst !
Those prices are insane. The lease next year will start from $99. And that's assuming you can find a place to charge it.
What are you talking about
@@mt9727 : Talking about the avalanche of Chinese electrics coming at ridiculous prices with some very cool features. Talking about the Grandmother of all depressions and people having a $500 lease and a shit load of other expenses to go with that car.
An EV lease is a terrible idea unless you benefit from massive government subsidies, like Colorado residents are currently
whats the money factor and residual value for the tesla model 3 long range?
Cannot buy at the end is a NO GO.
A car dealer told me long time ago to never put a down payment on a lease.
yea that’s common
Might be good in the USA, shit in the UK
No then you. I just bought a Cadillac Lyriq but thank you ❤
The way things are changing with battery technology, a new EV will probably be obsolete in a couple years and almost worthless. I won’t buy an EV until the technology gets figured out with them running 600 miles with a 10 minute charge. So for now I’m leasing.
Unless you own a business or you work for a company that is paying for your vehicle, leasing like renting is a waste of money and a perfect way of never retiring. You are better off buying an older car vs leasing a brand new one. I can't for the life of me understand why people do this at all especially when it comes to cars. My idiot cousin used to do this, every two years he would lease a BMW something, put 15K down and pay somewhere around 600 a month. He did this for 8 years. While I bought a BMW M5 comp for a total of 93,678. At the end of 8 years this guy spent 109K. Now I'm sure by the time I paid off my M5 I spent the same amount, the difference is. When he finally bought the same model S that I did, he had spent a total of $192,186.08. While I got 53K for my M5 and put the money towards the model S making me come out of pocket $29000 for a total of $122,678. Now of course this is us buying expensive cars, but the same rule applies.
Lease would be fine if you could get 15k miles a year on those Leases, other wise not a good deal.
you can
FSD was actually cheaper to purchase with a lease when it was $199 a month and $8000 purchase. Verified by using with and without lease prices on a 36 month lease. Now it's not with the $99 price.
Add the gas savings it's dishonest tesla move. Also tesla is way too much for mid too low end buyer. Sweet spot 500. Foregt price 28k or 35k it's all irrelevant. Month price 500 or lower is tesla path out if this dead spot. I'm investor and low price tesla is last hope or we are in trouble. So elon make are car or suv with per month payment in ur brain.
why lease a car you can buy used exactly the same for $18k
i’m confused, where would you find a 2024 model 3 for 18k? the point of leasing is to get the newest car with best features. a used car that’s worth 18k wouldn’t compare lol
With a big chunk down. Nah
Imagine paying $8000 or $99/month to get the privilege of beta testing Tesla's FSD.
Well it is optional. And people have reported it being pretty good
Ryan, as much as I enjoy and respect your research and presentation, it makes me crazy when you rattle off 5 or 6 digits of a number that should be read as e.g., xx.x dollars. Plus it takes considerably longer. My attention span, being 81 years old, just isn't up to the challenge.
The new border you are using on your videos is horrible I can’t tell if I watched or didn’t watch yet
why tf is leasing + car insurance the same price as just financing... the only diff w leasing is you dont build any equity
👍
The leases prices are insane because Musk is insane, what a joke this guy is.
Overpriced as usual, and scammy marketing all around, no wonder they make the most profit per car compared to all other car manufacturers...
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TESLA🤢💩🤮