Yes , original Tesla warranty and after market warranty covers suspension parts. Ask me how I know 🙂

DRLs replacement is the whole friggin headlight replacement which is over $2.5k CAD per. That's the original headlight from Tesla as I won't replace them with a cheap knockoff that you can find on AliExpress

 

I would agree with that with most other EV's except Tesla, which is why I bought both my Y and 3 instead of leasing. No other EV is competitive price wise without leasing, and all other brands are still evolving.

I've leased EV's since 2020, and there are tax advantages for me as I expense the lease to my consulting business, but we put way too many miles on our cars, so I end up going over the allowed mileage. My Model Y for example, I'm almost at 28k in two years, most leases allow only 10k per year. My Polestar I went 6k over, and my wife's Ioniq 5 she's already past 17k, max is 20k miles and the lease isn't up until July 2025. That's why I bought the Model 3, so my wife can drive the Y so we don't go over the miles on the Ioniq

 

I don’t agree with this at all. Leasing is better because EVs have been depreciating so quickly and if you don’t keep cars long like me you will be significantly upside down. I bought my Plaid because the lease deals were so bad but in hindsight I probably would have been better off leasing. Same with a friends Y, he is looking to get something new but the value has tanked so he is going to keep it.

 

Youre right on depreciation, but the reason behind that depreciation is because of the battery tech advancing...

 

I don't think that's what it is, at least not directly. It's due to other factors IMO: Big Tesla price drops created a lot of market uncertainty, political FUD drove additional market uncertainty, and last but by no means least, very effective but also very inaccurate anti-EV FUD has been driving paranoia and market uncertainty. Some of that ant-EV FUD is battery centric, hence it being an indirect contributor. But it's still FUD.

 

I was just about to say the exact same thing, FUD of buying a used EV.

 

There's a bunch of used OEM on Ebay for way less. I take back what I said about new though, one OEM headlight is as you say super expensive.

 

‘What if the financing was 0% or around 1%? Would you buy? (Presuming equal incentives). Would you buy then?

 

interest rate isn't that meaningful if you get crushed in depreciation.

 

If you are one of those that want a new car every 3 to 5 years, than buying makes little sense, that's where leasing comes in, especially if you have a business where you can take advantage of tax write-offs. Personally, I like keeping a car at least 10 years before moving on. And the miles we put on our cars, I've been penalized on my last two leases because of excessive mileage. I've had my share of leasing (3 leases), I just rather own

 

Ive done the math based on my own experiences of buying vs leasing. To me, the cost comes out to be about the same, except that with financing/buying, Im out a good portion for down payment. Id rather lease at this point, and keep my money invested elsewhere. But as others have said, buying an electric car is too risky right now.

 

I would disagree, the most expensive component on an EV is the battery pack/drivetrain, which for most EV'S is covered under an 8 year/120k warranty. My brother in law has a 2018 Model S, his only out of pocket major expense in almost 7 years was $3500 for a new wire harness, thanks to rodents. The CFO of my company just recently traded his 2017 Model X for a 2024 Model X, battery pack still had 85 percent available capacity.

If you are talking about depreciation because you frequently trade in, that's entirely different, IMO

 

Yes, im not worried about the battery components failing. Battery degradation, maybe, because that is hard to prove and get it warranted for replacement since it is generally considered normal wear and tear. But yes, I was more referring to the depreciation and the time/cost benefit of having to private sell the car, etc. I change cars about every 7 years. My previous car, E class, depreciated by 51 thousand in 7 years even in private party resell, which gave me about 4K more than what carmax would give. That is about $600 a month, not to mention I put 30K down. My current Audi Etron lease is <$700 a month, with little downpayment. Factor in the next to 0 maintenance cost of the EV, leasing this time around was the obvious choice.

 

Got it. Until recently, I've always kept my cars for at least 10 years, than I just pass them down. 2020 I leased my first EV, a Hyundai Ioniq EV, it was $3k down and $190 a month. Than in 2022 the Polestar ($4k down, $520 a month) and our 2023 Hyundai Ioniq 5, mainly because I could only get the incentives like tax credit if I leased. My 2023 Model Y I bought (it's paid off) and the 2024 Model 3 I also bought, put $8k down with 0 percent financing

 

The extreme downside risk to the depreciation. For instance take an EQS, you can lease a new one for about $1,000 a month, thats $36,000 to drive it for 3 years. New $125,000 EQS after 3 years is worth about $40,000. So, cost to own $85,000 for 3 years. Not a hard choice.

Nope. Not a chance.