Tesla lease buyout

[csrcsr]

https://www.carscoops.com/2024/11/tesla-finally-offers-lease-buyout-option-but-do-the-math-first/

If you want to work around 7500 credit in case your income doesnt match  this is one of the option , earlier tesla did not provided this option

[Jaggadonga]

4 hours ago, csrcsr said:

https://www.carscoops.com/2024/11/tesla-finally-offers-lease-buyout-option-but-do-the-math-first/

If you want to work around 7500 credit in case your income doesnt match  this is one of the option , earlier tesla did not provided this option

I don't qualify for 7500 federal credit, how this is beneficial? Pls explain

[perugu_vada]

Uncle link not opening 

matter enti ,

[csrcsr]

11 minutes ago, Jaggadonga said:

I don't qualify for 7500 federal credit, how this is beneficial? Pls explain

If u take the lease that 7500 will be distributed , this will br distributed ro your lease payments,

earlier the issue was tesla doesnt had buyout option just in case if u want to buy after yoir lease expiry there was no option

Now jist take lease complete your lease term and buy with residual value yku will get 7500 credit distributed into lease payment both ways you are winning

https://www.cnbc.com/2024/07/18/loophole-may-get-you-a-7500-tax-credit-for-leasing-an-ev.html

[csrcsr]

11 minutes ago, perugu_vada said:

Uncle link not opening 

matter enti ,

Same as regular lease buyout but tesla was not giving it now you get its a best way to get 7500 federal credit if u are not income elgible also , we dont know new govt can remove the federal credit

https://www.tesla.com/support/leasing/lease-end-options

Purchase Your Tesla Vehicle

With a lease buyout, you can purchase your vehicle at the end of the lease. Starting November 27, 2024, all leased vehicles are eligible for purchase.

Eligibility

• Starting November 27, 2024, all leased Cybertruck, Model S, Model 3, Model X and Model Y vehicles are eligible for purchase.
• Third-party dealerships are eligible to purchase leased vehicles.

Note: Iowa and Louisiana are not eligible for lease buyout.

Fees

• A purchase fee of up to $350 applies to all vehicles.
• Local taxes and fees apply.

Getting Started

Refer to your lessor for payment and lease-end options.

If your vehicle is leased though Tesla Lease Trust and you would like to purchase your vehicle, you’ll need to request an estimate in the Tesla app. We will ask for your registration address and title assignment before providing an estimate. Once you receive your estimate, you will have the option to proceed from the Tesla app.

If you would like to proceed with purchasing your vehicle, follow these steps:

1. Open the Tesla app.
2. Tap ‘Financing.’
3. Tap ‘Lease Details.’
4. Tap ‘Manage Lease.’
5. Select ‘Purchase Vehicle.’
6. Confirm you would like to purchase the vehicle.

Once you confirm you would like to purchase the vehicle, we will prepare a purchase packet with a good through date matching that of the estimate.

After you receive your packet, you must complete the following to complete your purchase:

• All parties listed on the lease agreement sign the purchase packet.
• You schedule a vehicle inspection if needed based on your local requirements.
• You send us payment for the full estimate amount. The funds must be received by the good through quote date listed on the purchase packet. Payment instructions are included in the purchase packet.

Once we receive the funds, we will review your documents, process your payment and finalize the purchase. Your ownership transfer documents will be mailed to you upon completion.

Note: To access this feature in the Tesla app, make sure you have the latest version of the Tesla app.

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Frequently Asked Questions

[Aquaman]

6 minutes ago, csrcsr said:

If u take the lease that 7500 will be distributed , this will br distributed ro your lease payments,

earlier the issue was tesla doesnt had buyout option just in case if u want to buy after yoir lease expiry there was no option

Now jist take lease complete your lease term and buy with residual value yku will get 7500 credit distributed into lease payment both ways you are winning

https://www.cnbc.com/2024/07/18/loophole-may-get-you-a-7500-tax-credit-for-leasing-an-ev.html

Would it be cheaper to lease and buy compared to buy at once?

[csrcsr]

1 minute ago, Aquaman said:

Would it be cheaper to lease and buy compared to buy at once?

If u get the 7500 credit you can just buy but if you are not elgible this is a workaround option

One more small caveat  as we discuas you know musk mama how the price of tesla model y dumps from peak,  lease is kind of insurance , worst case lo u use 3 years and give it back , else you will buy hope it helps

[Aquaman]

7 minutes ago, csrcsr said:

If u get the 7500 credit you can just buy but if you are not elgible this is a workaround option

One more small caveat  as we discuas you know musk mama how the price of tesla model y dumps from peak,  lease is kind of insurance , worst case lo u use 3 years and give it back , else you will buy hope it helps

[coffeeabhi]

1 hour ago, csrcsr said:

If u take the lease that 7500 will be distributed , this will br distributed ro your lease payments,

earlier the issue was tesla doesnt had buyout option just in case if u want to buy after yoir lease expiry there was no option

Now jist take lease complete your lease term and buy with residual value yku will get 7500 credit distributed into lease payment both ways you are winning

https://www.cnbc.com/2024/07/18/loophole-may-get-you-a-7500-tax-credit-for-leasing-an-ev.html

"distributed to lease payments" kaadhu.
It is added as downpayment. 

Eg: Car price $48000
       Down payment: 2500
       Tax credit: 7500
       Residual: 30000
       48000 - 2500 - 7500 - 30000 = 10000 will be distributed to lease payments and then add the interest component for each month, and then taxes. the total comes to around $500 per month.

[csrcsr]

20 minutes ago, coffeeabhi said:

"distributed to lease payments" kaadhu.
It is added as downpayment. 

Eg: Car price $48000
       Down payment: 2500
       Tax credit: 7500
       Residual: 30000
       48000 - 2500 - 7500 - 30000 = 10000 will be distributed to lease payments and then add the interest component for each month, and then taxes. the total comes to around $500 per month.

But u get 7500 correct irrespective  of income at least thats what sales guy told my friend residual was 26 k change for rear wheel drive

[perugu_vada]

1 hour ago, coffeeabhi said:

"distributed to lease payments" kaadhu.
It is added as downpayment. 

Eg: Car price $48000
       Down payment: 2500
       Tax credit: 7500
       Residual: 30000
       48000 - 2500 - 7500 - 30000 = 10000 will be distributed to lease payments and then add the interest component for each month, and then taxes. the total comes to around $500 per month.

What is 30k residual mean here ? And 10k u are showing at the last ? Forget tax .. car ki entha spend chestunam final ga with leasing e case lo ?

[csrcsr]

1 hour ago, perugu_vada said:

What is 30k residual mean here ? And 10k u are showing at the last ? Forget tax .. car ki entha spend chestunam final ga with leasing e case lo ?

residual value meaning at the end of lease term the amount you pay to own the car 

my early math with my friend (We may be totally wrong) for california with taxes if you buy the rear wheel drive

$43,876  after federal tax deduction 7500 Including  Est. Taxes and Fees $6,386,  remember if you dong get tax credit this will 51k change

 

you may be elgible for 0 % apr if you take 3 years and beyond may be 3 % apr, hope you understood the math for buying 

now coming to leasing

 

you do down destionation plus intial taxes 5672 plus monthly payment 333 * 36 which is equal to 12000 plus residual value iof you plan to buy  $28,292 

so 5672 +12000+28292 (not sure any additional taxes) as of it comes to 45872 , (you are not getting zero percentage advanatge but 7500 credit  elgible kakapothe this route is better )

 

I may be tottaly wrong do you own research mallu nannu sava 10engodu

 

 

[coffeeabhi]

4 hours ago, csrcsr said:

residual value meaning at the end of lease term the amount you pay to own the car 

my early math with my friend (We may be totally wrong) for california with taxes if you buy the rear wheel drive

$43,876  after federal tax deduction 7500 Including  Est. Taxes and Fees $6,386,  remember if you dong get tax credit this will 51k change

 

you may be elgible for 0 % apr if you take 3 years and beyond may be 3 % apr, hope you understood the math for buying 

now coming to leasing

 

you do down destionation plus intial taxes 5672 plus monthly payment 333 * 36 which is equal to 12000 plus residual value iof you plan to buy  $28,292 

so 5672 +12000+28292 (not sure any additional taxes) as of it comes to 45872 , (you are not getting zero percentage advanatge but 7500 credit  elgible kakapothe this route is better )

 

I may be tottaly wrong do you own research mallu nannu sava 10engodu

 

 

If you want to buy at the end of the 3 years, then you have to pay tax as well on the residual value ie on $28,292. Inpsection fee + processing fee whatever + taxes would be another 3k at that time.

[csrcsr]

5 minutes ago, coffeeabhi said:

If you want to buy at the end of the 3 years, then you have to pay tax as well on the residual value ie on $28,292. Inpsection fee + processing fee whatever + taxes would be another 3k at that time.

Ok it will be taxes on the car minus what we paid in the lease got the math , 

So basically if u get 7500 credit no brainer

If you are not getting 7500credit for whatever reason lease approach will help you to get 7500 and you pay interest as opposed to 0% still better than paying full 51

[TuesdayStories]

41 minutes ago, csrcsr said:

Ok it will be taxes on the car minus what we paid in the lease got the math , 

So basically if u get 7500 credit no brainer

If you are not getting 7500credit for whatever reason lease approach will help you to get 7500 and you pay interest as opposed to 0% still better than paying full 51

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