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expiredMalaibazaar posted Jan 05, 2025 04:50 PM
Item 1 of 3
Item 1 of 3
expiredMalaibazaar posted Jan 05, 2025 04:50 PM
24-Month Lease on 2024 VW ID.4 RWD Electric Vehicle
$999 down + $149 per month
Good Deal
Bad Deal
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one of the worst cars i've ever owned, technology is very poorly designed and frustrating, countless recalls and range is mediocre at best.
there are many more comparable options when it comes to EV. Chevy Equinox being one that is also very well priced.
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one of the worst cars i've ever owned, technology is very poorly designed and frustrating, countless recalls and range is mediocre at best.
there are many more comparable options when it comes to EV. Chevy Equinox being one that is also very well priced.
But in reality going EV would be hard for someone living in an apartment in a red state. Need a similar deal for ICE car.
Practically all consumer leases are closed-end. I have never personally seen any reputable dealership offer anything but that for mainstream consumer cars. As far as I know, open-end leases are specific to commercial fleets and maybe some very one-off situations on the consumer end.
It's not an EV problem as much as a "new tech" issue. Parts are scarce. Any mid-level accident effectively totals the vehicle. Insurance has responded accordingly with higher rates, even for historically low-risk persons.
As much as I'd like to pull the trigger on an EV, there's absolutely zero logic for "why" when a hybrid CR-V does all the same stuff for cheaper (minus the instant torque).
A cr v is 500-618 now to lease in ny
And insurance as a 24 year old is 600+ a month
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one of the worst cars i've ever owned, technology is very poorly designed and frustrating, countless recalls and range is mediocre at best.
there are many more comparable options when it comes to EV. Chevy Equinox being one that is also very well priced.
one of the worst cars i've ever owned, technology is very poorly designed and frustrating, countless recalls and range is mediocre at best.
there are many more comparable options when it comes to EV. Chevy Equinox being one that is also very well priced.
All tesla leases are the same as owning over 6 years if you include (as in discount the purchase price by ) the $7500 tax credit. But this isn't close. it gets worse for owning if you factor in repairs. what am I missing?
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All tesla leases are the same as owning over 6 years if you include (as in discount the purchase price by ) the $7500 tax credit. But this isn't close. it gets worse for owning if you factor in repairs. what am I missing?
Whether or not leases make financial sense is a bit subjective and complicated. But your question seems to be more geared towards this lease deal and similar ones. If you are asking why it is so good, compared to buying the car, there are a few factors at play:
1) The $7500 federal tax credit. While this can apply to purchases, it is much more restrictive and limited to only a small subset of EV/PHEV cars and dependent on income limits. On the flip side, leases have neither of these limitations, so many EVs can only get the $7500 if you lease.
2) The residual is calculated by the manufacturer's finance arm. Usually, this is an accurate guess at what they think the car will be worth at the end. BUT, in cases where they want to move inventory, they will inflate it. Let's say you like a car with an MSRP of $50k and they believe the real residual will be 50%. That means you pay $25k (the difference) during the lease. But if they want to lower the payments to get more people to buy the car, sometimes they increase the residual. Let's say they mark it as 75%. Now you only need to pay $12.5k over the course of the lease. Obviously the car won't be worth $37500 at the end, but they are willing to eat some loss to get rid of cars that won't sell (like this one).
3) The money factor (interest rate / 2400) can also be adjusted to make lease deals more appealing. Most least rates are comparable to regular purchase APRs. But if they lower the money factor to 0% or close to it, again it saves you money and lowers the monthly payment.
So if you take a car with a free $7500, maybe some additional promo cash savings, an inflated residual and a lower than market interest rate, you can get some amazing lease deals. Whether or not the car is worth it, that's also a bit subjective. Obviously they don't do these things with cars that fly off the lots, but if you aren't picky, you can sometimes get deals where leasing is much, much, much better than buying.
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All tesla leases are the same as owning over 6 years if you include (as in discount the purchase price by ) the $7500 tax credit. But this isn't close. it gets worse for owning if you factor in repairs. what am I missing?
Is this the same experience that others are also having?
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