Have you leased a Tesla or are you thinking of leasing one yourself? Here's been my experience along with what it cost to turn mine in at the end of the 4 year lease term... ✅Get US$2,000 off a New Tesla using my link: www.tesla.com/referral/griffin31661 ⚡AMAZON TESLA ACCESSORIES⚡ ➡ Model 3: www.amazon.com/shop/griffinmilks/list/GVBKQTZTER80?ref_=aipsflist ➡ Model Y: www.amazon.com/shop/griffinmilks/list/24VRZEJ1YFH3H?ref_=aipsflist -Griffin
Here in the US, I went from one Tesla to another lease, and they waived the turn in fee and gave, I believe a $675 allowance for excess wear and tear. I lease as I am 81 years old and don't want to have to sell a vehicle if I have to give up driving. Also to consider is how rapidly EV technology is changing; considering these factors leasing can be a better option.
@@GoblinStomp The average EV will handle 3000 charging cycles, average 250 miles/charge. 750.000 miles sounds good to me! But yes, there are some caveats: keep the charge between 20-80 in about 90% of the times you recharge (NMC) or fully charge to all 100% every month (LFP). But gas cars also have caveats. Don’t get me wrong, I like cars- ICE and EV!
@@danibj 750,000 miles. If a EV could actually make it to 750,000 miles on the original batteries people would buy them like crazy. But they dont. I bet if you look up vehicles for sale and find the highest mileage used EV. None of them are close to 750k miles.
I just did the math , I bought a 2022 long range model 3, my out the door price - my trade in is a net loss of $38,000. I have 68k miles on it. To lease a new one for 3 years, plus calculating the milage penalty of 23k miles, id only pay a total of $28k for a new lease. So i basically lost an extra 10k paying cash due to depreciation.
I leased 3 nissan products over the last 10 years and I never paid a dime upon returning my lease for a new one. In fact I always get money back because I come in under on my miles.
I was considering leasing and I'm new to it. The biggest reason I was thinking about leasing is because of the potential drop and depreciation with the model Y refresh around the corner so not wanting to be stuck in a negative equity situation on a finance. So I didn't really understand the part of the video where you said you had to pay for the difference in depreciation.... If the residual value set was $25k and you lease comes to an end, if the value of the vehicle is say $21k, I'm pretty sure you're not on the hook for the $4,000 difference.....
@@griffinsgarage96 Hey appreciate the response, and yes I’m subscribed 😎 I ended up financing a 2024 Highland Model 3 Performance. I ordered August 14th and picked it up on 8/30. I just had it wrapped and tinted! (Pics on my community page.) Specs: stealth gray / blk interior Wrap: Xpel Stealth ppf / 20% Ceramic Tint (sides/rear) 55% (front)
Depends on the manufacturer. Not all manufacturers charge for tires, etc. I was happy not to have any « excessive wear » costs though. Thanks for watching! Please consider subscribing
@@griffinsgarage96 Some dealers are more forgiving then others, especially if you get another vehicle from them but I bet that min acceptable thread clause exists in every lease contract. Sounds like Tesla is a stickler for the rules.
I leased one vehicle in fifty years of car ownership ... a Chrysler Grand Caravan (actually my wife's vehicle and our THIRD Caravan). Leased for three years and did not buy it out or lease anther Chrysler at the end of the lease (for reasons that are utterly STUPID in hindsight, but that's why it's called experience). This taught me to NEVER lease a vehicle again as we were "nickle and dimed" outrageously by Chrysler / the dealership.
When you changed your tires, did you purchase exact same tires it had? Was Tesla ok with whatever kind of tires? I’m returning mine in 5 months. Thinking about buying new tires before returning
The ones I bought were the cheapest all seasons I could get that fit the same spec and minimum speed rating. $590 all in with install and balance. They didn’t say a thing
Not sure what the return charge will be but with incentives the lease i got is a total of about $18k, it will cost about $6k less to drive too. The car is quite a bit cheaper now though. That is a net $4k/yr and not driving a failing car with 200k miles.
Seems that you would be better off buying a used Tesla, since the deals are good now. compared to entering another lease. Tesla is known for stiff charges for wear and tear on their leases.
Overall I’ve loved the Tesla, otherwise I wouldn’t have purchased another one. Plus once I tried the new one, it was shocking how improved it was. Thanks for watching and please consider subscribing!
Imagine financing a car, having a higher monthly payment for double the time, just to end up with the same shitty car at the end of the 72 month loan that’s basically worth nothing and doesn’t have free maintenance anything past the end of year 3
@@igorm9180 no one should take out a 72 month loan. If you’re monthly payment is high then you can’t afford it. When you lease we 100% know you can’t afford the car. People who lease have nothing to show for it. Congrats dude you rented a car for 3 years.
You can buy out the lease now. This just changed around 2 weeks ago.I am leasing a 2025 base model 3 long range rwd and the residual/buyout price is around $27,000.
was very similar in the UK with scarcity. Until the highland came out I might have seen 1 tesla a month and i live in quite an affulent area. Now the highland is out, i see at least one a day.
Have you leased a Tesla or are you thinking of leasing one yourself? Here's been my experience along with what it cost to turn mine in at the end of the 4 year lease term...
✅Get US$2,000 off a New Tesla using my link: www.tesla.com/referral/griffin31661
⚡AMAZON TESLA ACCESSORIES⚡
➡ Model 3: www.amazon.com/shop/griffinmilks/list/GVBKQTZTER80?ref_=aipsflist
➡ Model Y: www.amazon.com/shop/griffinmilks/list/24VRZEJ1YFH3H?ref_=aipsflist
-Griffin
Here in the US, I went from one Tesla to another lease, and they waived the turn in fee and gave, I believe a $675 allowance for excess wear and tear. I lease as I am 81 years old and don't want to have to sell a vehicle if I have to give up driving. Also to consider is how rapidly EV technology is changing; considering these factors leasing can be a better option.
I think leasing is the best for Tesla. The purchased mine 2020 Tesla 3 and realize buying out right was a horrible mistake. Depreciation!!!
Honestly kinda a lose lose. Just gotta enjoy the car and accept you’ll lose money 😂
If you’re thinking about sticking with it for years to come, it’s worth as EVs will last for a very long time .
@@danibjevs last as long as batteries in your phone do. They also depreciate harder than rocks.
@@GoblinStomp The average EV will handle 3000 charging cycles, average 250 miles/charge. 750.000 miles sounds good to me! But yes, there are some caveats: keep the charge between 20-80 in about 90% of the times you recharge (NMC) or fully charge to all 100% every month (LFP). But gas cars also have caveats. Don’t get me wrong, I like cars- ICE and EV!
@@danibj 750,000 miles. If a EV could actually make it to 750,000 miles on the original batteries people would buy them like crazy. But they dont. I bet if you look up vehicles for sale and find the highest mileage used EV. None of them are close to 750k miles.
I just did the math , I bought a 2022 long range model 3, my out the door price - my trade in is a net loss of $38,000. I have 68k miles on it. To lease a new one for 3 years, plus calculating the milage penalty of 23k miles, id only pay a total of $28k for a new lease. So i basically lost an extra 10k paying cash due to depreciation.
It’s always going to be a toss up due to car depreciation curves and such. 2 years ago the prices of used teslas was definitely much better!
I leased 3 nissan products over the last 10 years and I never paid a dime upon returning my lease for a new one. In fact I always get money back because I come in under on my miles.
They gave you money back for going under the miles?? Wah, that’s awesome
I was considering leasing and I'm new to it. The biggest reason I was thinking about leasing is because of the potential drop and depreciation with the model Y refresh around the corner so not wanting to be stuck in a negative equity situation on a finance. So I didn't really understand the part of the video where you said you had to pay for the difference in depreciation.... If the residual value set was $25k and you lease comes to an end, if the value of the vehicle is say $21k, I'm pretty sure you're not on the hook for the $4,000 difference.....
I learned my lesson about leasing with a BMW. Worst financial decision of my life.
Bought both my Teslas outright after saving for 8 years.
Totally agree
They just started offering that option In California now. Im considering going through that process Lease to Own right now.
Thanks for the informative video! I was on the fence on buying, leasing, or financing my first Tesla/ev. Glad I ended up financing.
Glad it was helpful! What did you end up financing? Thanks for watching and please consider subscribing!
@@griffinsgarage96 Hey appreciate the response, and yes I’m subscribed 😎 I ended up financing a 2024 Highland Model 3 Performance. I ordered August 14th and picked it up on 8/30. I just had it wrapped and tinted!
(Pics on my community page.)
Specs: stealth gray / blk interior
Wrap: Xpel Stealth ppf / 20% Ceramic Tint (sides/rear) 55% (front)
None of those charges are exclusive to Tesla. Those are standard fees for a car lease return.
Depends on the manufacturer. Not all manufacturers charge for tires, etc. I was happy not to have any « excessive wear » costs though. Thanks for watching! Please consider subscribing
@@griffinsgarage96 Some dealers are more forgiving then others, especially if you get another vehicle from them but I bet that min acceptable thread clause exists in every lease contract. Sounds like Tesla is a stickler for the rules.
I leased one vehicle in fifty years of car ownership ... a Chrysler Grand Caravan (actually my wife's vehicle and our THIRD Caravan). Leased for three years and did not buy it out or lease anther Chrysler at the end of the lease (for reasons that are utterly STUPID in hindsight, but that's why it's called experience).
This taught me to NEVER lease a vehicle again as we were "nickle and dimed" outrageously by Chrysler / the dealership.
Thanks for sharing your experience!
When you changed your tires, did you purchase exact same tires it had? Was Tesla ok with whatever kind of tires? I’m returning mine in 5 months. Thinking about buying new tires before returning
The ones I bought were the cheapest all seasons I could get that fit the same spec and minimum speed rating. $590 all in with install and balance. They didn’t say a thing
Not sure what the return charge will be but with incentives the lease i got is a total of about $18k, it will cost about $6k less to drive too. The car is quite a bit cheaper now though. That is a net $4k/yr and not driving a failing car with 200k miles.
Yea there’s definitely many ways to break down leasing vs financing… all in all though had a buyout been an option, I’d have favoured that option
They allow buying out the lease now.
Interesting! Thanks for letting us know. That’s definitely a game changer
@ noticed you are in CA so not sure if they allow it their but at least in the US they are now. Started a few days ago I believe.
@@KamberBCTyes is correct! You can buy it now at the end of your lease
What kind of tires did you get ?
Haha, that is the same exact day i leased my new Model 3. Good video, i just dont trust buying an EV just yet.
Fair enough, that was must logic at the time for leasing one. Thanks for watching and please consider subscribing!
Me either
Most manufacturers allow you to buy extra coverage to protect you from this type of stuff.
Not tesla. Thanks for watching and commenting! Please consider subscribing
That's crazy I wouldn't lease a Tesla until they fix this
In US, disposition fee is paid upfront.
Ok! Thanks for sharing
Seems that you would be better off buying a used Tesla, since the deals are good now. compared to entering another lease. Tesla is known for stiff charges for wear and tear on their leases.
Yea I’d tend to agree with that. There’s some great deals now on used Teslas. Thanks for watching and please consider subscribing!
It's a great thing that you only pay sales tax on the usage portion of the vehicle.
I mean paying the whole sales tax on a lease you can’t buy out would be criminal 😅
Im on the fence on leasing!
Hope this helped a little bit! Thanks for watching and please consider subscribing
54k for the base model? Yikes. They are so much less now especially with the tax credit
Well this is in Canada. And 54k before the credits of 12k
Thank you.
Thanks for watching! Please consider subscribing
Can you generate a new link?
Imagine a car so bad that at the end of the lease you get another. 😆
Overall I’ve loved the Tesla, otherwise I wouldn’t have purchased another one. Plus once I tried the new one, it was shocking how improved it was. Thanks for watching and please consider subscribing!
Yet here you are watching Tesla videos 🤡. I would never watch a video on a car I dislike.
Glad you recognized that leasing a vehicle was terrible financially.
Imagine financing a car, having a higher monthly payment for double the time, just to end up with the same shitty car at the end of the 72 month loan that’s basically worth nothing and doesn’t have free maintenance anything past the end of year 3
In general, vehicles are money pits no matter what. 😅
@@igorm9180Nah, I paid cash for mine and still love the car.
@@igorm9180 no one should take out a 72 month loan. If you’re monthly payment is high then you can’t afford it. When you lease we 100% know you can’t afford the car. People who lease have nothing to show for it. Congrats dude you rented a car for 3 years.
The saying "A lot more money than sense" must have been invented with followers of the Tesla religion in mind!
These cars are just so stupid. Why give your money away to a billionaire.
Elon owns 22% of the company…. There are many other people who benefit from Tesla stock
@@griffinsgarage96 naww
And now after you finish the video Tesla makes buy out an option
It's BS they won't let you buy it out! That kills it for me
You can buy out the lease now. This just changed around 2 weeks ago.I am leasing a 2025 base model 3 long range rwd and the residual/buyout price is around $27,000.
was very similar in the UK with scarcity. Until the highland came out I might have seen 1 tesla a month and i live in quite an affulent area. Now the highland is out, i see at least one a day.
Yea they’re very popular! Right’y so
You can buyout now lol
Yes it changed not long after I brought mine back lol. Absolute shame
@ haha 😂
Most manufacturers allow you to buy extra coverage to protect you from this type of stuff.
👍