Go Back  ClubLexus - Lexus Forum Discussion > General Forums > Car Chat
Those who lease: thoughts on Model 3 Lease (details included) >

Those who lease: thoughts on Model 3 Lease (details included)

Notices
Car Chat General discussion about Lexus, other auto manufacturers and automotive news.
Sponsored by:
Sponsored by:

Those who lease: thoughts on Model 3 Lease (details included)

 
Old 05-15-19, 01:11 PM
  #76  
jrmckinley
Lexus Test Driver
Thread Starter
 
Join Date: Mar 2014
Location: fl
Posts: 1,508
Received 59 Likes on 55 Posts
Default

Not sure if anyone cares, but Tesla revised the details of the Model 3 lease last week. I found some good details where a website (leasehackr) breaks it down and engineers the math that was missing (money factor, residual, etc). This new lease structure is more attractive as both the residual and money factor improved. However, this website still felt that financing was the better option over leasing. Here's a direct comparison of the initial model 3 lease vs. the new one.

If you leased a Model 3 from Tesla between April 11, 2019 and May 2, 2019, these were the terms:
  • Residual: 54% + $3,750 credit (36 months, 10,000 miles/year)
    • Subtract 1% for 12,000 miles/year
    • Subtract 3% for 15,000 miles/year
  • Money Factor: .002708 (6.5% APR)
  • Acquisition Fee: $695
Here are Tesla's current numbers (May 3, 2019 and later):
  • Residual: 58% + $3,750 credit (36 months, 10,000 miles/year)
    • Subtract 1% for 12,000 miles/year
    • Subtract 3% for 15,000 miles/year
  • Money Factor: .0024125 (5.79% APR)
  • Acquisition Fee: $695
jrmckinley is offline  

Thread Tools
Search this Thread

Contact Us - About Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service

© 2019 MH Sub I, LLC dba Internet Brands

We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.
 
  • Ask a Question
    Get answers from community experts
Question Title:
Description:
Your question will be posted in: