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Leasing a Model S

Leasing a Model S

I am contemplating buying a Model S and going with a lease. But using the calculator that Tesla provides gives some pretty high monthly payments. As an example...for a P100D with $10,000 down it looks like the cost would be $1,691 per month. Whereas the 100 is about $1,112. I am just curious....for those of you that have gone with the lease option.....are these #'s accurate?

EVRider | February 7, 2019

When I leased a Model S a few years ago, the estimator wasn’t exactly right but it was in the ball park. Best thing to do is contact autofinance@tesla.com and ask for a quote, bearing in mind that it could change if the interest rates change.

reed_lewis | February 7, 2019

The leasing options for Tesla are good for people who meet the following criteria:

1. They want to get a new car every few years
2. They do not drive a lot

I have my two year old 75D and plan on keeping it for a long time. I also drive 25k miles a year so I would have blown through the lease allowed miles in less than half my lease time period. What fun is a car if you do not drive it?

tstolz | February 7, 2019

Leasing is more expensive than owning. Someone has to own the car .. in a lease the leasing company owners the car. The leasing company will not take a loss on your lease .. they are a business .. and businesses make money or they close.

reed_lewis | February 7, 2019

If you plan on keeping the car for a significant period of time, then a lease is more like a fleece.

I plan on keeping my Model S 75D for 8 years (at least until the battery/motor warranty ends).

kerryglittle | February 9, 2019

Think this has been a debate since the beginning of the lease thing. But take into consideration what your new car would be worth two years down the road as a trade in. We have all heard people complaining that they think they should have gotten more for their car when they wanted to trade it in. I think my car has dropped around $30,000.00 or more in the last two years. Yet it looks as good as when I got it. Probably better since I have done a few things to it. But it still wont help the depreciation value. New cars are never a good investment .

jordanrichard | February 10, 2019

“.......buying a Model S and going with a lease”. That’s a contradiction. Are you looking to buy a car or rent one.?

ryan | February 11, 2019

Thanks for all of the replies. Leaning towards a lease because essentially I could get a new Tesla in 3 years. It's a deductible business expense and the monthly payment will be less. Thanks again!

Also, joranrichard my apologies for any confusion I'll try to be more clear in the future...

reed_lewis | February 12, 2019

I concur with @kerryglittle The car is 'worth' what it is worth on a trade in only if you intend to sell it. If you are happy with the vehicle (and with Tesla's constantly getting new software features how could you not), then the car is worth more to you than as a trade in.

OTOH if you feel that in three years you want a new car, then a lease is for you.

As an aside, I leased a Smart fortwo Electric drive for three years before I bought my Tesla Model S. The lease price was about $1500 down, and $210 a month for 15k miles a year. Since the car only drive 65 miles on a charge, but I had a 80 mile round trip to and from work (I have charging at work), it was perfect for me to drive in that situation. But there was never going to be a longer trips in that car so I would never exceed the mileage.

EVRider | February 12, 2019

@ryan: Did the Tesla Finance team confirm the estimates on the web site?