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Current car died, how long a lease to get for replacement car....

Current car died, how long a lease to get for replacement car....

I don't really expect a solution for this, but it's a real problem for me, and maybe for some others.

My old car died and I'd like to lease a low cost gas replacement until my model 3 is ready. How long a lease should I get?

Ordered April 1, and located in NJ.

I believe Tesla has an "delivery preference" option on current cars that lets you delay delivery up to 3 months, but even so I don't know whether to go for a 2 year, 3 year lease.

And even two year may be too long if everything works out as Tesla hopes.

And thoughts, ideas?

mntlvr23 | 29 January, 2017

I would consider buying a good 3 to 5 year old used car and then selling it when the M3 comes. An inexpensive and very flexible option.

EaglesPDX | 29 January, 2017

Best option would be find a 0% deal with 0% down and go for a three year finance. You'll have good equity in the car by Year 2 (2018) and if Tesla is longer in delivering, even more equity.

gpocina | 29 January, 2017

Agreed, buying used and seeking when the model 3 is ready is more flexible, but more expensive, riskier and a lot more effort. A new $16k car can be had for $199/mo. on a 3 year lease with no initial payment.

KP in NPT | 29 January, 2017

If you ordered on April 1 in NJ it is entirely possible you will have your car in the first half of 2018. I agree with buying the used car and selling/trading when your model 3 comes. I wouldn't lock myself into a lease.

gpocina | 29 January, 2017

@eaglespdx I agree. For me buying new seems to have less risk and effort than buying used. But even with financing you still end up owning the car and being responsible to sell it when the M3 comes out.

mntlvr23 | 29 January, 2017

I have bought a couple of decent cars used and sold them a year later for the same price or more - but you are right that it does take some effort, but to me well worth it.

mdd | 29 January, 2017

Buy a cheap used car and use it as your trade-in on the Model 3.

lbverna | 29 January, 2017

This happened to me as well. I purchased a cheap but reliable car while I wait and I'm fairly confident I'll get a decent return since the value wont really change on the car once I sell it in a year or so. I was also looking into lease trader to take over a lease but then if anything gets delayed you'll risk having to buy another car.

PaceyWhitter | 29 January, 2017

What does "died" mean? Unless it was totaled in an accident, repairing your current car would always be the most cost effective choice.

gpocina | 29 January, 2017

2002 VW golf TDI 5 speed manual. 230k miles. Howling and grinding from the transmission and car doesn't take off. I changed the gear oil, adjusted the linkage, but it looks like it will need a rebuild. And it's old enough where the injection pump or exhaust system could fail in the next couple years. Not to mention other failure modes. I've already spent about $2K on it in the past 12 months (rear calipers, engine mounts".).

I'll get a repair quote on Monday, but will probably end up buying a used Nissan Leaf or Honda Fit or a new Kia Soul. But I'd love to be able to drive a new Kia Soul for a couple years until the M3 comes out, without any shopping or selling effort.

Haggy | 29 January, 2017

My previous car was totaled and I had a 3 1/2 month wait for a Model S. In the mean time, I drove something else. Since a Tesla wasn't an option, I chose other places aside from a Tesla forum to get advice. I'm not trying to come across as unhelpful, but I sincerely think it would be more helpful to look in other forums.

noleaf4me | 29 January, 2017

You can get a used Leaf really cheap -- as long as you can deal with the limited 80 mile or so range. Sell or trade in when your 3 arrives.

EaglesPDX | 29 January, 2017

@gpocina " For me buying new seems to have less risk and effort than buying used. But even with financing you still end up owning the car and being responsible to sell it when the M3 comes out."

Pick a car with good resale and look for a 0% financing deal that all the car compnies run. I picked a Subaru Legacy for safety with its Eyesight system it is top rated. Plus I ski so AWD Subaru with snow tires makes that worry free. And Subaru has high resale value.

gpocina | 29 January, 2017

Thanks all.

I was mostly wondering if someone has looked at the leasing angle and was familiar with turning a car in before the lease term, or extending it.

It's not a big deal, I'll likely end up buying new or used rather than leasing. I'll do what needs to be done for my situation.

Thanks again.

gpocina | 29 January, 2017

Also, forgive me for saying so, but this ought to be an appropriate forum to post this discussion because 400k other people have, like myself, decided they want a M3, and want to get one in the first year or two of production, rather than wait until they can be purchased with only a few weeks or months lead time.

And many of them are more knowledgeable than I am, so why not ask them for advise? Thanks

bigd | 29 January, 2017

gpocina I'll likely end up buying new or used rather than leasing" Good choice as anyone that is honest will tell you that leasing (leasing) is a bad idea.

bmwgs | 29 January, 2017

Many Fiat 500e are coming off lease-very cheap!

bmwgs | 29 January, 2017

They are literally several pennies on the dollar at auction.

Frank99 | 29 January, 2017

Yeah, but the first result when I googled the 500e was:
http://www.caranddriver.com/fiat/500e
"The interior is cramped, with an awkward driving position and a rear seat that is best reserved for short people and short distances."

bmwgs | 29 January, 2017

Gee Frank,read more. This is a temporary car-not a keeper.
How about a contribution instead. I'm sure the potential buyer will do his own due diligence for his temporary ride.

Frank99 | 29 January, 2017

I thought a link to a reputable car magazine reviewing the vehicle under discussion qualified as "a contribution". Perhaps the quote I chose to use isn't the one that you'd choose.

Atoms | 29 January, 2017

Same happens to me. I'm looking for a 2012 Camry for about $12K or similar. Can had the car off too a teen once the M4 arrives.

bmwgs | 29 January, 2017

No Frank,not a contribution.He was looking for suggestions,not reviews.He would do that. I suggested a vehicle.

JeffreyR | 30 January, 2017

Several people have posted about services here where you find people to take over (or you take over) a lease. That may be an option too.

Haggy | 30 January, 2017

"Pick a car with good resale and look for a 0% financing deal that all the car companies run. I picked a Subaru Legacy for safety with its Eyesight system it is top rated. Plus I ski so AWD Subaru with snow tires makes that worry free. And Subaru has high resale value."

I agree. I bought one of those for my father about a year ago and he likes it. Last year they added lane keeping. Earlier years don't have that, but do have the other general safety features you'll find in a Tesla. I haven't tested either of them personally, but IIHS gave the Subaru top marks for AEB.