Tesla leasing or Leasing a Tesla may need to be more comfortable. We, as Tesla lovers, know that most people own this unique brand. Considering all these, Tesla Introduced the “Tesla Leasing” system.
So today, let’s talk about Leasing a Tesla.
Contents
Selecting what is best to Buy.
We all know that there are four models of Tesla, namely Model 3, Model S, Model X and Model Y. Also, there is a fifth model as Tesla Cybertruck, which is about to come. When it discussed the prices, Tesla Model 3 and Tesla Model Y are on the low end while Tesla Model X and Tesla Model S in the high end. The price range of all these Tesla Models is in-between $39,990 to $129,990.
Now you have picked what to buy. Now let’s move to the next to do.
Leasing a Tesla
This is what to know in this section. There are two methods of leasing Tesla directly from the manufacturer.
Design it first.
Designing means choosing all the features that are needed. This may include all the interior and exterior colors, seating configurations, and all the other adjustments needed for comfortable driving.
Browsing the Existing inventory.
In this way, anyone can find the currently available cars (Both new and used). But the downside is there is no option for customizing the Tesla. But if there is any option that fits you, it is faster to buy it than the first method.
Where to lease the Tesla?
There is no offense! Tesla will directly deliver your car to your home. But for that, you need to buy the Tesla or lease it.
| Place | Details |
| Tesla Showroom | You’ll probably want to test drive your Tesla, so you should look for a Tesla dealership or gallery nearby. |
| Charging Station | The Supercharger network of Tesla is one of the most extensive EV charging networks, but some areas are better served than others. |
| Places that have the option of tesla lease | Unfortunately, due to dealer franchise laws, Tesla still needs to be permitted to sell or lease in some states. Delaware states, Michigan State, Wisconsin State, Kentucky State, New Hampshire state, Nebraska state, Mississippi State, and Oklahoma State are the states where Teslas are unavailable for lease. |
Tesla Leasing cost
If you are not among the above states, you can buy your Tesla or Lease it. Now the next most important thing is the Leasing Cost. Based on the types you choose, it may be varied. But the other main thing that should remember is whether you lease, borrow money, or pay cash, and all Teslas require a $100 order payment and a $1,200 delivery fee. And moving further, each Tesla model’s estimated monthly payments are based on a 36-month lease compared to a 72-month loan with a 2.49% interest rate.
| Model | Manufacturer’s suggested retail price (MSRP) | Lease | Loan | Other things to know |
| Tesla Model 3 | $41,190 | $389/month, $5,584 due at signing | $549/month, $4,500 due at signing | The initial 36-month lease payment is $389, and the annual mileage cap is 10,000, 12,000, or 15,000. |
| Tesla Model Y | $53,690 | $525/month, $5,720 due at signing | $736/month, $4,500 due at signing | For the Model Y Long Range edition, lease agreements start at $525 per month for 36 months, which is about $200 less than the estimated monthly payments on a loan. |
| Tesla Model S | $81,190 | $999/month, $9,194 due at signing | $1,103/month, $7,500 due at signing | With monthly lease payments of $999 and an initial payment of just over $9,000, the Model S puts us at the upper end of the price range. |
| Tesla Model X | $91,190 | $1,099/month, $9,294 due at signing | $1,253/month, $7,500 due at signing | The Model X, the most expensive Tesla, will run you $1,099 to lease or $1,253 monthly to pay off a loan, with $7,500 due at signing. |
Other things to know before Leasing a Tesla
With both 24- and 36-month lease terms available, Tesla provides competitive financing options. Although the monthly payments on a lease are significantly lower than the down payment on a loan, the initial monthly payment is higher.
About Tax Credits
$7,500 tax credit, other rebates, and incentives are available for some electric vehicles, but these are typically only offered to people who purchase brand-new EVs.
Although Teslas are currently ineligible for the federal tax credit, other incentives may be available to you depending on where you live.
Resale Value
If you decide to sell your electric car after a few years of ownership, you won’t have to worry about depreciation, which is one advantage of leasing one.
However, considering how well Teslas hold their resale value, it is beneficial to purchase a Tesla instead of leasing one.
Leasing to buy is a middle-ground option, but two Tesla models (Tesla Model 3 and Tesla Model Y) will only be sold once your lease is up.
Insurance Costs
Compared to other EVs, Tesla’s insurance costs are higher, costing an average of $2,000 a year.
You might be required to maintain higher levels of insurance coverage if you lease a new Tesla than you might decide to if you owned it outright.
If you’re unsure whether leasing or buying a Tesla is right for you, look at your area’s Model S and Model X options. These top-rated vehicles have an excellent reputation for being safe and reliable and come with some of the highest resale values. The only drawback is that they are costly!
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