Leasing a Tesla? Here's What Happens When You Turn It In

These are some things to look out for when turning in a lease on a Tesla.

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[Gjeebs]

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[miked]

Just did a 2021 MYLR lease turn in. If you lease another vehicle with Tesla they will give to $500 off the damage fees. They will also waive the lease return fee whatever that is called. I leased a 2024 MYP.

[MarcRebilletClips]

$300/mo to lease a 2024 Model 3 for 3 years. Or pay $600 to finance one, and half your monthly goes toward interest while fighting depreciation. I think leasing is currently the smartest play.

[henrycruzcal]

Paid $27k to drive the car for 18k miles.
I paid $11k more and i keep my 2024 MYP.
Crazy to lease

[softwarephil]

“When we take trips we use my wife’s hybrid.” Bingo. EVs are fine if you can afford a second, gas powered vehicle.

[Thalassophile-llllknx]

John is a smart man. For day to day driving and in my case even for long distance. It is impossible for an ICE vehicle to compete on cost. Outside of road trips I never exceed 200 miles in a day. My Model Y is the lowest cost operation I ever experienced in a car, in 35 years of car ownership. I am not some environmental guy. EVs are just less costly, nicer, quieter, easy and pleasant to drive, very fast and just overall a superior product hands down to ICE.

[Kerminshermin]

I just leased a base 2024 M3 RWD with $4, 000 due at signing and a $380 monthly payment. That's $17, 680 after 3 years + disposition cost and potential dings. Financing it for 72 months is about double the lease price with the same due at signing. Since tech advances fast and in 3-6 years Tesla's cars will improve drastically, you can safely assume their cars will depreciate about $15-17k by the end of the lease term. If you lease, you are essentially paying what you would lose in depreciation if you had chosen to finance or buy the car.

You can also expect Tesla to slash prices over time, as they have done many times, to make their cars more affordable. Leasing is definitely the way to go at the moment, unless you want to 'own' the car.

[simonfowler]

Crazy waste of money to cover 6k miles per year.

[theczar]

Comical, my boss in the 1990s turned in his Mercedes S class lease. And about a month later. Was mad as hell because they build him for a new set of tires and brakes. He got billed for the radiator leaking. And the power steering pump leaking. There’s something else that it had an issue with at the end of the lease. I don’t remember. But I do remember him complaining it was over $3000 in repairs.

[Gjeebs]

Since he liked Tesla so much I suggested he look at a 22+ Model 3/Y used private sale. Private sale in AZ you don't have to pay sales tax and the new RYZN chip means updates will be coming for years to come. Also you don't have to buy a used private sale car in AZ. It can be anywhere in the US.

[davidater]

Uber might have been a cheaper choice than that Tesla.

[Lost_In_LA]

The dings were reasonably priced. I get wanting to try a new car brand but it’s such a great time for a Model 3 with the refresh this year.

[aruth]

I have leased cars many times and they always have given wear and tear that is allowed. Tesla is a lot more picky when giving the car back. Most car company’s have those disposition fees you are talking about. I would never lease another Tesla, but I would purchase from them. Great car, just not a fan of the Tesla lease.

[KingLutherQ]

I loved my Model 3 when I first got it. But after I got a Model Y, it's even better.

[russellhoguephd]

There are some other factors right now also. You can get a $7500 discount on a lease even if you don't qualify for the $7500 discount on a purchase. That makes it cheaper to lease and buyout versus buying at beginning. If the federal program goes away, that won't be the case.

[JohnMiller]

This video came at the right time. I was looking at Model 3’s over the weekend and the highland has such good lease deals. But then I found a 2023 Model 3 Performance with white interior for $31k so… trying to decide what to do as well

[davidjimenez]

They charge for repairs, but they resale it with the same damage "as is". I just bought a used tesla coming from a lease, with scratches and damages, good deal but I guess because I accepted the tesla as it was. Got a tesla model 3 2021 with 28 tousand miles under 25k dollars. At he end after 4k tax credit savings, car ended up being 20500 +sales tax + registration +500 order fee.

[LeftMapArt]

It’s similar to the cellphone industry. A new updated model with new features drops almost yearly now, so in both cases it makes more sense for many to lease the a Tesla/Rivian and be able to trade it in at a set term to get the newest one while paying less monthly and in total. Plus govt $7500 and states offer up to $9000 off leases. Makes electric, even Tesla and Rivian, really affordable.

[dralex]

I was interested in the Ioniq 5 and I seriously don’t understand how anyone has ever bought a Hyundai before. I went to every dealership with an offer in hand from them super interested and they fucked it up. Ended up with a modeled Y that was $6k off from Tesla and I am super happy

[marcomalo]

This is silliness on steroids. Pay cash for an ICE vehicle and keep it until the wheels wear off.