I am evaluating the prospect of leasing a car under the current offer of 0% interest.
The fact that the interest rate is zero makes it very appealing.
I know that when you lease the car, practically you don’t own it. You just rent it.
The car company partners with a bank and an auto dealer as leasing partners.
According to the terms that I have seen so far, there is no clause which will allow me to buy the car at the end of the leasing period at the current residual value.
The auto dealer states that I can make an offer of that remaining amount and they will decide if they will give me the car. The customer service told me that they never had any case where they and their partner requested the return of the car and denied the sale at the residual value.
Leasing a car is something new to me and to be frank, it is the 0% interest rate that made me evaluate the option. I would like to ask:
Is it normal in leasing contracts not to have the option to buy the car stated in the contract?
Do you think that in the particular case of Tesla model Y, in 4 years time from now, the leasing company would decide to keep the car? The residual value is approx 20k CHF and since they are not making any profit, they may be tempted to sell me or some other client the car at a higher value. The leasing company told me that they look into the interest of the client and that the residual value is honoured but can someone rely only on good will?
what is the lease per month and does it make sense to you
if there is no residual value calculation, that means the leasing company prefers to get back the car. This means the lease cost covers for everything they expect (return on money, plus their idea of expected depreciation).
it seems they believe they have better chance to extra value from resale rather than offering a standard residual value calculation. I believe it’s because of the fact that electric cars are evolving market and it’s not clear how fast / slow they should be depreciated
I got a written letter from Tesla with „Vorkaufsrecht“ that stated that we can buy off the car at the end. Otherwise, what‘s stopping them keeping the car? Maybe the residual value is 10k but the real value is 20k.
With 0% leasing, you’re paying list price, whereas if you’d be buying with cash, you’d be getting the car for a few thousand CHF off. So if you factor in that discount, it’s not 0% anymore.
First time I see this… did you find it on the official website ? Might be worth something (especially the winter tyres and the 30’000 km supercharging - if no time limit to use it)
I am also looking at leasing / buying a Tesla Model Y - leasing at 0% plus 4k summer discount on the 4wd long range.
The 0% leasing are with migros bank, and the 4k discount is also applicable. The total payment adds up to the discounted price, roughly 46k CHF.
My idea was to buy the car after the lease, because from what I currently see, the Model Y would be priced higher than the “restwert” after the lease ends (around 20k after 3-4 years, current 3 year old teslas are traded for 30-40k).
However, it seems one cannot include the “Vorkaufsrecht” in the lease contract, and I would want that guaranteed.
@Cortana were you able to get that guarantee for the restwert from Tesla?
Was anyone ever not able to buy the car for the restwert? The dealer said he never had that case.
Apart from that I do not see any major downside from leasing vs buying. Any thoughts?
And - it seems in Norway the same Model Y is around 35k CHF - has anyone ever imported / thought of importing?
I buy only (you can get discounts if you ask) and only “parallelimported” cars (coz the general importers are just scammers). But not sure if Teslas are “parallelimported” by someone.
Don’t bet on this, it will depend from a lot of factors (which are not under your control, starting from Elon’s humor changes ).
One could have said the same in 2020 when I started the leasing of the Model 3 but now the market is overflooded and the prices of new cars have been cut several times in the meanwhile → I expect that market value will be close to leasing rest value in 11 months from now (when my leasing is going to end) - if not less (the two are already quite close today )
i got a written confirmation a „Vorkaufsrecht“ signed by tesla. But i asked for it and they also said it‘s not in teslas interest to take them back. I‘m happy that i got this security for myself.
So based on what i understand following is the case.
Option 1 -: buy the car , Pay 46 K, keep the car
Option 2 -: Lease the car, Pay 46 K in installments and then you might be able to keep the car?
If this is right, then Option 2 (without written guaranteed contract which states that you can keep the car at X price from the dealer driven by a written formula) could result in a possible disadvantage for you. And it also matters what formula for X actually is.
However I am a bit confused, if you pay 46K anyways, then why do you need to pay anything to the dealer to keep the car once lease ends? What is point of 0% lease if you still need to pay something to keep the car. Should Restwert not be ZERO ?
you can ask for a Restwert of Zero, the monthly payments will increase. Only makes sense if you will take over the car.
if you will hop from car to car (because the technological change especially for EV‘s is insane) then you are aming for a Restwert as high as possible.
Moreover, take into account that under circumstances there are no changes possible; it is analoge to an option - the seller expects the Restwert to be the fair market value by end of leasing. So, they can sell the car for a fair value.
If the Restwert is too high but you will take over the car, it can be, that you will struggle when reselling the car.
There are many people out there who are taking over the car after the leasing and try to sell it for a higher price (obviously).
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