***Note added before eating my bird: Some people didn't like this post—scroll down to see why. But if you're thinking about leasing a vehicle, you might find this message helpful.
*** Thanks to Knightshade for pointing out, indeed there is a
"leasing loophole" - you can get the $7500 credit on the spot even your income exceeds 300k [cars.com]
When it comes to leasing, the gold standard is a deal with $0 due at signing and a monthly payment equal to 1% of the car's MSRP. Truthfully, this kind of deal is a rare "unicorn." I've leased multiple vehicles over the years and never came close to a true 1% deal—until now.
https://www.tesla.com/model3/design#overview
In August, I leased a Tesla Model 3, only to discover that Tesla is now offering even better promotions. The Model 3 lease is approaching the coveted 1% mark, while the Model Y is better than 1%—and leasing a Model Y is currently cheaper than a Model 3!
Below are the details, factoring in estimated gas savings. While some may debate including this, I believe it's fair, as these savings directly impact your overall cost of driving.
Model 3 Lease. 12k miles/year, $0 due at signing: $429/mo (somehow I cannot imbed the image, you can also see Thumbnails below)
https://drive.google.com/file/d/1...sp=sharing
Model Y Lease. 12k miles/year, $0 due at signing: $411/mo
https://drive.google.com/file/d/1...sp=sharing
Comparison of my August lease: the promotions are significantly better - now long range model Y is cheaper than my standard range model 3! Anyone know how to get out Tesla lease sooner? I want to switch! You can see the $7,500 credit is applied to leases in this screenshot.
https://drive.google.com/file/d/1...sp=sharing
Why Lease a Tesla Instead of Buying?
- The $7,500 credit is applied to the total 3-year lease cost, not the full car price. If you lease every 3 years instead of owning a Tesla for 9 years, you could benefit from this credit two more times.
- EVs depreciate faster than gas-powered cars. Leasing limits your exposure to this risk since you're only keeping the car for 3 years.
- EV technology evolves much faster than traditional cars. Tesla's earlier promises of future-proofing (e.g., old Model 3s supporting the latest FSD) have shifted. For instance, newer features may require hardware upgrades, such as moving beyond HW 3. With AI advancing so rapidly, leasing gives you the option not getting stuck with the current tech that might be outdated in 8-10 years.
- Tesla's leasing process is simple and transparent—no dealership games. You choose your mileage and down payment, and what you see is what you pay.
- If you decide to keep the car after the lease ends, you now have a buyout option—this wasn't available before.
- Tesla offers 3 months of Full Self-Driving (FSD) and Supercharging for free. (When I leased my Model 3 in August, it only came with one month of FSD.)
Qualify for $7500 Federal Tax Credit with below income cap:
Adjusted Gross Income Limitations
$300,000 for married couples filing jointly
$225,000 for heads of households
$150,000 for all other filers
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https://www.tesla.com/model3/design#overview
In August, I leased a Tesla Model 3, only to discover that Tesla is now offering even better promotions. The Model 3 lease is approaching the coveted 1% mark, while the Model Y is better than 1%—and leasing a Model Y is currently cheaper than a Model 3!
Below are the details, factoring in estimated gas savings. While some may debate including this, I believe it's fair, as these savings directly impact your overall cost of driving.
Model 3 Lease (somehow I cannot imbed the image, you can also see Thumbnails below):
https://drive.google.co
Model Y Lease:
https://drive.google.co
Comparison of my August lease: the promotions are significantly better - now long range model Y is cheaper than my standard range model 3! Anyone know how to get out Tesla lease sooner? I want to switch! You can see the $7,500 credit is applied to leases as well.
https://drive.google.co
Why Lease a Tesla Instead of Buying?
Qualify for $7500 Federal Tax Credit with below income cap:
Adjusted Gross Income Limitations
$300,000 for married couples filing jointly
$225,000 for heads of households
$150,000 for all other filers
https://www.tesla.com/model3/design#overview
Money factor 0.0026 it's 6.24 interest rate, great deal I am guessing
Sign up for a Slickdeals account to remove this ad.
Money factor 0.0026 it's 6.24 interest rate, great deal I am guessing
Sign up for a Slickdeals account to remove this ad.
Leave a Comment