If you have the cash, should you buy or lease?

[Clyde-a-scope]

I'm in a good spot to purchase the dual motor CT outright. But knowing all the issues the model 3 and the model y had, would it be smart to purchase the CT or lease it and wait a few years for all the issues to get resolved? It seems almost a waste of money to lease it for a few years then purchase the same vehicle anyways. Right?

Advertisement

 

[Daweism]

Buy.

I read somewhere for Tesla leasing you do not have the option to buy upon lease end.

So definitely buy.

 

[RonM]

I'm in a good spot to purchase the dual motor CT outright. But knowing all the issues the model 3 and the model y had, would it be smart to purchase the CT or lease it and wait a few years for all the issues to get resolved? It seems almost a waste of money to lease it for a few years then purchase the same vehicle anyways. Right?

It depends on when you ordered your CT. I noticed you joined this online site late June, I’m guessing you joined right after you ordered your CT. If that is the case you will have at least a year and a half (if not more) before you CT will be built. In which case I’m sure you
will still be following this site and there will be plenty of detail of problems with CTs (if any, unlikely). Where upon you can decide to lease or buy. If you are an early order then it’s a crap shoot. Also not likely they will be doing leases till orders are filled.

 

[Clyde-a-scope]

It depends on when you ordered your CT. I noticed you joined this online site late June, I’m guessing you joined right after you ordered your CT. If that is the case you will have at least a year and a half (if not more) before you CT will be built. In which case I’m sure you
will still be following this site and there will be plenty of detail of problems with CTs (if any, unlikely). Where upon you can decide to lease or buy. If you are an early order then it’s a crap shoot.

I ordered the day after the reveal. I guess I'm taking a risk...

 

[RonM]

I ordered the day after the reveal. I guess I'm taking a risk...

Damned if you do, Damned if you don't. If it was me I would rather be Damned while driving my CT! ? ? ? ? ?

 

[Bigvbear]

I ordered the day after the reveal. I guess I'm taking a risk...

Not necessarily, if past indications are correct, your reservation number is not your absolute place in line. There are many that were early on the list for model Y but they didn't get theirs until many months after deliveries started. Some have still not gotten theirs (due to the discontinuance of one of the available option packages)

 

[CyberMoose]

I'm in a good spot to purchase the dual motor CT outright. But knowing all the issues the model 3 and the model y had, would it be smart to purchase the CT or lease it and wait a few years for all the issues to get resolved? It seems almost a waste of money to lease it for a few years then purchase the same vehicle anyways. Right?

If you decide you want to lease, you can check your lease agreement before actually agreeing to lease to see if there is a option to purchase the vehicle after. The model 3 cannot be purchased from the lease, other Teslas can, but we have no information on the cybertruck yet

 

[Clyde-a-scope]

If you decide you want to lease, you can check your lease agreement before actually agreeing to lease to see if there is a option to purchase the vehicle after. The model 3 cannot be purchased from the lease, other Teslas can, but we have no information on the cybertruck yet

Are there any advantages to purchase after a lease? In the long run you spend more money than buying outright, correct? It's cheaper just to buy?

 

[CyberMoose]

well there is always advantages and disadvantages of all three options. If you have the funds to buy the Cybertruck, cash or finance, then the advantage is it will save you some money.

Lets say that there is an option to buy the Cybertruck during your lease. there would be two advantages that I could see.

1. you get to see if the Cybertruck is the right choice for you. I'm sure that while a lot of people are sure they want a Cybertruck, some of them will regret it. Not everyone needs a vehicle that big, for some people new to a truck that lives in a high populated area, it could be hard for them to get around and park it.
2. You get to see if they improve the Cybertruck. This is quite possible, right now they are making small chances to the Model 3 which has people suspecting that it will have a heat pump. The Cybertruck will already have a heat pump included, but they could make some small change after the first year or two of production.

Once everything is confirmed and the production Cybertruck is built and we can see the actual Cybertruck that we are paying for, that will help everyone decide. I don't think there would be any reason that I would lease instead of buy, but if they make some major changes that I don't like (unlikely) then I might lease.

 

[Crissa]

Leasing was a way to jump in line for an S, but Tesla moatly uses leases to sell cars that they think they wouldn't have otherwise sold.

So it's not always an option.

-Crissa

 

[madquadbiker]

Not necessarily, if past indications are correct, your reservation number is not your absolute place in line. There are many that were early on the list for model Y but they didn't get theirs until many months after deliveries started. Some have still not gotten theirs (due to the discontinuance of one of the available option packages)

Bearing that in mind I’m guessing us right hand drive users could be in for a long wait.

 

[MUSK007]

Leasing a vehicle can be a good idea for a business to get a write off, but a poor financial choice for a personal car. Plenty of good financial reasons not to make this personal mistake are available online to help you see this fact.

Your question seems odd to me. If you have cash, You can pay cash full price, or place a down payment and obtain a loan for the vehicle. A lease offers a low cost option to get Into the Vehicle, make lower monthly payments but then you have the residual at the end if offered by the leasing company.

If you can’t afford to pay cash for a vehicle or can’t afford the monthly loan payment, the best choice is to choose a cheaper vehicle or wait still your finances are in better shape.

 

[Clyde-a-scope]

Leasing a vehicle can be a good idea for a business to get a write off, but a poor financial choice for a personal car. Plenty of good financial reasons not to make this personal mistake are available online to help you see this fact.

Your question seems odd to me. If you have cash, You can pay cash full price, or place a down payment and obtain a loan for the vehicle. A lease offers a low cost option to get Into the Vehicle, make lower monthly payments but then you have the residual at the end if offered by the leasing company.

If you can’t afford to pay cash for a vehicle or can’t afford the monthly loan payment, the best choice is to choose a cheaper vehicle or wait still your finances are in better shape.

This is a great forum! Everyone has provided good input! I wanted to see other folks reasoning and opinions on purchasing Vs leasing when it comes to a brand new production vehicle. Specifically when it comes to Tesla's manufacturing issues. I've also never leased a vehicle. I've always paid cash. I have the cash in full to buy the dual motor CT. I'm in a good financial position to purchase it. I can afford it without forcing my family to eat ramen for the next 5 years (they'll eat Cheerios w/water instead haha). At first I didn't understand why someone would lease the CT (or any vehicle) if they had the cash. After reading through everyone's responses, I agree it's a poor financial decision to lease if you have the capital in hand. I guess if I wanted I could open an LLC and get a tax write off. I don't believe that's a requirement at this time.

I have read folks that bought Tesla stock and purchased a model 3 through the growth. It might be too late to purchase stock now. (That's probably another thread)

I love the responses! I'm learning allot. Keep them coming!

 

[Clyde-a-scope]

Bearing that in mind I’m guessing us right hand drive users could be in for a long wait.

I didn't realize the CT was being offered anywhere but the former colonies.

 

[Frank W]

There are consumer advocates out there that equate “leasing to fleecing.” There are a few scenarios where it could be beneficial but mostly I think that it’s a rip off. IMHO