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Will you buy or lease?

Discussion in 'Ordering, Production, Delivery' started by Model 3 lover, Apr 6, 2016.

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Buying or leasing?

  1. Buying

  2. Leasing

  3. Unsure

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  1. Model 3 lover

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    I know there are a lot of buy or lease articles online. However, I think the EV is the still new technology.
    I just saw one video which mentions the battery capacity technology will increase 7% every year. I think more and more new tech may come just within couple years. All of these reasons, let me think I should just lease the M3.
    How do you think? Will you buy or lease?
     
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    • Niklas

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      I will probably buy it.
       
    • TrevP

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      It all depends on your intent. For me, I'm going to lease for a few reasons:

      1. Tesla technology changes very fast. They don't have "model" years so a car built 3 months ago is not the same car as today due to constant changes.
      2. I like getting a "new car" every 3 years as I get bored quickly and I live technology.
      3. Leasing has advantages for business owners like me.
       
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      • Van Shrider

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        It is a tough question, and to answer a question with a question would you want to switch to the newest technology in 3 years?
        I've normally been the type that would hold on to a car until it completely dies.
        However with this tech......it's a lot like the first computers were, or like mobile phones....I was always changing my computers every year until it came to equilibrium and now I still build one every three years. I started with the Motorola bag phone that you carried around in a case that made you look like you were carrying a purse, then bought the newer technology every time my contract ended. .... And now that I somehow got sucked into the iPhone crowd, I will still be upgrading every two years...

        So as for lease vs buy, I don't think I will know that until I'm in the design studio picking all my pretty pretty add ons, and clicking back and forth on the loan vs lease buttons to see how much money I can save from a 5 year loan to a lease.
         
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        • Kayaktom

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          While I traditionally buy cars, I think I'm going to lease this one as this technology changes rapidly.
           
        • Dwayne1959

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          I will buy
           
        • ttupper92618

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          Most likely will buy.
           
        • Model 3 lover

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          You made a good point now. Tesla looks like "Apple" product to me right now. And it may look out of date after 3 years. Same as you, I upgraded my iPhone every two years.
           
        • Stringer Bell

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          I think the real question is: how quickly do you think the Model 3 hardware will change?

          I assume much of the Model 3, like the S, will be updated via software updates (which makes me assume that there will be some lifetime 4G/5G connectivity built it, at least for the updates). If the hardware doesn't expect to change for 5 years or more, I will buy. If the federal incentive still exists, I will be pushed to buy even more.

          If, however, you all think that the hardware will more quickly move to obsolescence, then that would push me more towards leasing.

          Having met Kimbal Musk a couple of years ago and hearing their general strategy for Tesla, I think that they want to move towards Tesla being a computer on wheels updated primarily through software and less of an automobile with immutable technology.
           
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          • getto

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            I will defiantly buy....I think the Model 3 will be a classic
             
          • Van Shrider

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            #11 Van Shrider, Apr 6, 2016
            Last edited: Apr 6, 2016
            Ahh Stringer just brought up a point that changes the whole game here that I had a temporary lapse and forgot about.. If you buy, and make the cut, you get the $7500! That makes a world of differenceon a car that is at this price point.

            7500 on 115000 model S vs 7500 on 35000 -50000 Model 3 is a much bigger dent ratio...
            With that in mind I NOW have to say that I will buy. If there is no price lowering after the tax incentives are gone, we have instant equity that the buyers to follow us don't......theoretically the value will hold a lot longer based on that!
             
          • Van Shrider

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            To follow up on the above . . .
            i think that I read somewhere that if you lease you don't get the incentive....
            Anyone have details on that???
            21.4% to 14% back on the next tax return makes a big difference verses not getting it and leasing!
             
          • Dwayne1959

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            Buy, I put too many miles on car. I drive about 100 mile a day.
             
          • Dwayne1959

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            Buy, I drive about 100 miles a day.
             
          • MelindaV

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            I don't know if this is correct or not, but remember from a college finance class years ago that an individual (non business) auto lease is one of the most damaging 'positive' things to your credit score. As in outside of defaulting on loans, repos, foreclosures, etc
            I would buy mostly because I end up feeling about my cars as if they are pets more than just a way to get around town and can't seem to get rid of them even when they get old, cranky, leave messes on the garage floor...
             
          • Model 3 lover

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            I like your point. I hope we all can get incentives by the time we get the cars. I have contacted Tesla, and they responded if we lease the car, we only get the state incentive, not the federal. The bank who does the lease contract will take that federal tax credit incentives.
             
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            • Jane

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              I leased an all-electric Honda Fit EV 3 years ago & did not get the tax incentive. I believe you have to buy to enjoy the federal tax incentive. Therefore, I am planning to buy, hoping to receive some tax incentive and assuming the car has the necessary hardware to receive all updates & upgrades via streaming.
               
            • jetwet1

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              I'm thinking the same way as you, normally I would buy the car, however, in this case it may be worth leasing it for 3 years, then seeing what hardware updates have been done to it since we got it.

              I have a feeling a lot of these will be leased anyways.
               
            • thecatdad

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              Talking to current MS owners, ALL have said they drive more. They enjoy driving more. They take more road trips as the drive becomes part of the vacation, not just a means to get to a destination.

              Even with occasional road trips I drive less than 10K miles per year, but in my Tesla I can see doubling that. And with a 6 year loan and an 8 year (unlimited mile) warranty on the expensive parts of the car, there's really no downside in my situation.
               
            • Linden Anderson Jr.

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              That's an easy decision for me, BUY! The reasons why I'd lease a car in the first place is eliminated with this car simply because the car is technologically advanced enough to actually upgrade itself over time, there's very little maintenance costs and there is simply no other car on the market that looks as cool and sleek as or is as safe as this one so I know I'm not gonna get tired of it.
               

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